NIOs Hong Kong, Singapore shares hit new highs as outlook brightens

NIO Inc.’s shares in Hong Kong and Singapore have climbed to fresh record highs as the global outlook for electric-vehicle demand brightens. The electric-car manufacturer’s Singapore-listed shares NIO, + 4.12% gained 4.1% to US $ 24.77 while its Hong Kong stock 9866, + 2.39% rose 4.3% to 196.60 Hong Kong dollars (US $ 25.05), both … Read more

Russia is poised to default on its debt – so what does that mean?

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27. … Read more

US stock futures drop as Powell testimony looms, recession worries return to the spotlight

Recession worries were roaring back into the spotlight for Wall Street on Wednesday, with equity futures and oil prices dropping, as investors looked ahead to Congressional testimony from Federal Reserve Chairman Jerome Powell. How are stock-index futures trading? S&P 500 futures ES00, -1.67% dropped 1.6%, to 3,707 Dow Jones Industrial Average futures YM00, -1.44% dropped … Read more

Bitcoin’s nosedive through the $ 20,000 mark is a Minsky Moment for crypto: ‘Psychologically for a lot of people, this is galling’

Is bitcoin BTCUSD, + 4.97% facing a breaking point? That’s what some investors, acolytes and otherwise, might be contemplating, as the cryptocurrency’s descent accelerates over the weekend. The world’s No. 1 digital asset was last trading at $ 18,654, down more than 70% from its peak of around $ 65,000, with the broader crypto market … Read more

History says the next bull market is just months away, and it could carry the S&P 500 to the 6,000 level, according to Bank of America

When it comes to bear markets, investors can take comfort from history, which suggests that where there’s a beginning, there’s always an end. And according to Bank of America, investors have only got a few bear-market months left to endure after the US benchmark S&P 500 SPX, + 0.22% tumbled into bear territory at the … Read more

SpaceX employees say Elon Musk’s behavior is a ‘distraction and embarrassment’: report

A group of SpaceX employees reportedly wrote a letter to the company’s executives that detailed frustrations over the recent behavior and public statements of the company’s founder and chief executive, Elon Musk. According to the Verge, the publication that first reported on the letter’s existence, employees referred to Musk’s behavior as a “distraction and embarrassment” … Read more