What’s new

CME Group CEO Terry Duffy said futures contracts pegged to bitcoin on its exchange could be ready as soon as the second week of December. The CME boss made his comments during a Monday interview on CNBC, where he also discussed the inherent volatility in the worlds’ No. 1 digital currency, which has seen its value soar in value in 2017, fueling outsize interest from average investors and Wall Street players alike. Bitcoin has soared more than 500% year to date, compared with a roughly 15% climb for the S&P 500 index , an 18% rally for the Dow Jones Industrial Average , so far in 2017, and a nearly 26% return for the Nasdaq Composite Index over the same period. The CME kicked off a product to reference bitcoin prices a year ago, and late last month announced a plans to launch futures contracts, which could pave the way for investment funds and other investors to make big bets on the vagaries of the popular, and very volatile, cybercurrency.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Amazon.com Inc. said Monday that it has acquired the television rights to J.R.R. Tolkien’s “The Lord of the Rings” fantasy stories for a multi-season series. “The Lord of the Rings” have been made into award-winning movies directed by Peter Jackson. The series will delve into new storylines that precede “The Fellowship of the Ring,” and the deal could include spin-offs. Amazon shares are up 1.2% in Monday trading, and up 54% for the past year. The S&P 500 index is up 19.4% for the last 12 months.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Although the Dow Jones Industrial Average and S&P 500 are gaining ground, internal market data shows breadth is fairly negative, particularly on the NYSE. The number of declining stock outnumbered advancers by a 1,643-to-1,184 score on the NYSE and by a 1,486-to-1,210 margin on the Nasdaq exchange. The volume of declining stocks was represented 63.2% of total volume on the NYSE, according to FactSet, and 465.9% of the total volume on the Nasdaq. Meanwhile, the Dow was up 14 points and the S&P 500 was up 0.1%. The Nasdaq Composite was also up, but less than 0.1%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Ride-sharing service Lyft said Monday it is planning to launch in Toronto in December in its first foray outside of the U.S. The company and Uber rival announced the news in a blog posting. “We’ve been looking forward to taking our brand of ridesharing international for some time,” said the blog post, titled “Canada, here we come.” In October, Lyft raised $1 billion in funding in a round led by the venture-capital fund of Google parent Alphabet Inc., that gave it a valuation of $11 billion. Lyft has raised $3.6 billion in funding since it launched in 2012, compared with the roughly $15 billion raised by Uber, which has a valuation of about $68 billion, according to The Wall Street Journal.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Dow Jones Industrials Average made a morning break into positive territory, powered by shares of Procter & Gamble Co., Home Depot Inc., and Boeing Co., helping to counter a slide in General Electric’s stock. Shares of P&G , Home Depot and Boeing combined to contribute about 25 points–the bulk of the price-weighted blue-chip index’s morning gains. Meanwhile, GE’s stock was only cutting about 5 points from the Dow, even though it is the benchmark’s worst percentage performer. A $1 move in anyone of the Dow’s 30 components equates to a 6.89-point swing, making a component’s share price more influential than, say, its overall market value. GE was under pressure as it sought to deliver a raft of changes under new CEO John Flannery to revamp its 125-year-old business. Elsewhere, the S&P 500 index was gaining some traction in the green at 2,582. The Nasdaq Composite Index was also edging higher at 6,752. All three benchmarks cut losses from a firmer decline earlier Monday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The International Monetary Fund’s executive board called Mexico’s economy resilient “in the face of a complex external environment,” on Monday, adding that its “flexible exchange rate is playing a key role in helping the economy adjust to external shocks.” Mexico’s reduction of debt, shrinking deficit, and improving financial regulation were cited as among the factors that contributed to the IMF’s review. This year, the Mexican economy is expected to grow 2.1% driven mainly by private consumption, while 2018 growth is projected to slow slightly before picking up steam again. The Mexican peso spiked briefly against the dollar upon the release of the report. One dollar last bought 19.1536 pesos, up 0.2% from Friday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of Roku Inc. surged another 10% Monday, extending gains made last week after better-than-expected earnings. Roku last week reported earnings for the first time as a public company, sending its stock price soaring. Roku believes its TV operating system – known as its platform business in filings – is the key to growth, and platform revenue reached 46% of total sales. Shares were last up $2.40 at $35.65, a full 155% above the company’s IPO issue price of $14. The S&P 500 was flat Monday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News