Money

Social Security payments: First half of $1,682 direct payment to be sent in 16 days

The first half of a massive double Social Security payment for September is set to go out in just 16 days. The first payment for eligible individuals, worth $841, will arrive on Sept. 1, while the second one, worth the same amount, will be given at the end of the month. Because some months start …

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Dogecoin, Shiba Inu outperform bitcoin and ether. Is it a good time to bet on meme coins?

As cryptocurrencies bounced back from the June lows this year, meme coins have outperformed bitcoin and ether for the past few days, prompting some investors to ask if the risk-on plays are back in favor. Dogecoin DOGEUSD, -1.25% jumped 16.3% and another dog-themed token Shiba Inu SHIBUSD, -0.93 advanced 32.7% during the past seven days, …

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New York Empire State factory gauge plunges in August deep into contraction territory

The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plummeted 42.4 points to negative 31.3 in August, the regional Fed bank said Monday. This is the second largest monthly decline on record and among the lowest levels in the survey’s history, the regional Fed bank …

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Ready to cash out some gains on this stock market run? An exit path is about to emerge, says this strategist

Welcome to moody Monday, with stock futures down and oil prices getting hit hard after a batch of downbeat data from China, alongside a surprise rate cut. Some say that the global growth engine’s economic issues belong in a different box from the rest of the world, owing to Cihna’s self-imposed slowdown via COVID restrictions. …

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Regulators could order hedge funds to disclose crypto exposure

The collapse in cryptocurrency prices this year has left US regulators scrambling to understand the risks that digital asset markets could pose to the broader economy. They may soon enlist hedge funds in the effort. The Securities and Exchange Commission issued a proposal on 10 August that would require large hedge funds to report their …

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Here are some stock moves to consider now that inflation has eased up, says Jefferies

After Wednesday’s downside inflation surprise rallyed stocks and ushered the Nasdaq COMP out of a bear market, some may be wondering if a meltup is around the corner. Stocks are rising as investors also waking up to more good news on falling US gasoline prices (see below) and producer price inflation. But should investors really …

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Don’t be fooled by a drop in US headline inflation. Markets will be attuned to another figure on Wednesday.

Traders, investors and economists are all counting on Wednesday’s consumer-price index report to show a decline in the annual headline US inflation rate for July. But there’s another figure buried in the consumer-price index data that has the propensity to jolt markets. It’s called the core year-over-year CPI reading, a measure which strips out volatile …

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The red flag that preceded a halving of global equities in 2000 and 2007 is back, warns Citi

We are a day away from data that could prove a turning point for markets. If Wednesday’s CPI doesn’t reveal some slowing in prices, expectations will rise for a bigger Fed rate hike in September, possibly knocking stocks. But if it swings the other way, especially after surprisingly good jobs data, the view that things …

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Michael Saylor drops Microstrategy CEO role — Here’s what it means for bitcoin

A shakeup of MicroStrategy Inc.’s executive suite has crypto traders weighing the consequences for bitcoin as Michael Saylor drops his role as chief executive officer. MicroStrategy’s MSTR, -1.39% shares jumped almost 13% Wednesday, a day after the company said Michael Saylor would give up the CEO title and take on a new role as executive …

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Hack Drains Over a Million Dollars From Solana Crypto Wallets

photo: rafapress (Shutterstock) The open source blockchain network Solana has been considered the golden child of the crypto scene thanks to claims of its fast and cheap transaction infrastructure. Now some of those same crypto bros are paying the price for jumping onto the DeFi darling. Though initial reports from Solana put the number of …

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