With a market capitalisation of $376 billion, traders are taking the gains in ether much more seriously and say it is catching up to bitcoin’s rise and that upgrades to the ethereum blockchain stand to make it more useful.
“Traditional financial markets and digital assets are no longer mutually exclusive markets,” said Peter Roffman, global head of innovation and strategy at S&P Dow Jones Indices.
Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, with investors betting that ether will be of ever greater use in a decentralised future financial system.
The new indexes, S&P Bitcoin Index, S&P Ethereum Index and S&P Crypto Mega Cap Index, will measure the performance of digital assets tied to them.
Earnings by global energy companies such as Exxon Mobil have climbed on the back of rising crude prices, which are up by about a third this year, as fuel demand recovers from the pandemic and as a global surplus of crude shrinks.
New York timeThe Nasdaq 100 fell 1.85%The Dow Jones Industrial Average was little changedThe MSCI World index fell 0.8%CurrenciesThe Bloomberg Dollar Spot Index rose 0.3%The euro fell 0.4% to $1.2017The British pound fell 0.2% to $1.3887The Japanese yen fell 0.2% to 109.29 per dollarBondsThe yield on 10-year Treasuries declined one basis point to 1.58%Germany’s 10-year yield declined three basis points to -0.24%Britain’s 10-year yield declined five basis points to 0.79%CommoditiesWest Texas Intermediate crude rose 2.3% to $66 a barrelGold futures fell 0.7% to $1,779 an ounceFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
HOUSTON -Climate activists are prodding Exxon Mobil Corp’s top shareholders to vote against the reelection of two directors, a move that could boost a hedge fund’s proxy fight to seat four candidates on the oil giant’s board.
Novogratz, chief executive officer of Galaxy Digital Holdings, said recently he’d be “very, very worried” were one of his friends to invest in Doge.“It seems that investors are careening from one hot dot to another, like a pinball game,” said Mike Bailey, director of research at FBB Capital Partners.
But falling sales from its most important brand have been hurting the company.“The rating is constrained by the company’s small scale compared with much larger brewing peers, and its heavy reliance on its largest brand, Pabst Blue Ribbon, which accounts for nearly half of sales and has seen consistent revenue and volume declines,” Moody’s analyst Linda Montag wrote.Blue Ribbon is now offering a margin of 5.75 to 6 percentage points over the London interbank offered rate, an increase from 5 percentage points previously, according to a person with knowledge of the matter.Companies have rarely had trouble tapping the leveraged loan market this year, which has seen robust demand from investors who want to bet on a reopening economy and use the floating-rate debt to protect against rising Treasury yields.Re-commitments for the loan were due at 2 p.m.
People want a secure online currency, are willing to pay for it, and the relatively scarce To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.