Crude Inventories Surge by 4.4M bpd as Refinery Inputs Also Jump
(EIA) US crude oil inventories rose by 4.3 million barrels in the week ending October 22 to average 430.8 million barrels. Crude oil refinery inputs surged by 58,000 bpd to…
Direxion Seeks SEC’s Approval to Offer U.S. ETF that Shorts Bitcoin Futures
(Bloomberg) Direxion has applied for SEC’s approval to launch the Direxion Bitcoin Strategy Bear exchange-traded fund that offers managed short exchange to CME Bitcoin futures contracts. The ETF is expected…
Uber Enters Into a Car Rental Deal With Hertz to Offer up to 50,000 Tesla EVs
(Uber) Uber drivers in the US will have access to 50,000 fully electric Tesla vehicles by 2023 after the ride-sharing giant entered into a rental deal with Hertz. Uber’s deal…
Durable Goods Orders Fall by 0.4% in September
(Census Bureau) Orders for manufactured durable goods fell by 0.4% or $1.0 billion to reach a low of $261.3 billion. The fall in durable goods orders happens after four straight…
Apple Glass Could Soon Skip Tiny Screens as iPhone Giant Embarks on Research
(Apple Insider) Apple is researching how its future AR devices, including Apple Glass, can skip tiny screens and use micro projectors to send images directly into the person’s retina. Apple’s…
Bitcoin Fund to List on NASDAQ Dubai After Receiving Regulatory Approval
(Trade Arabia) Dubai Financial Services Authority has approved the listing of Bitcoin Fund, a closed-end investment fund, on Nasdaq Dubai. The Fund becomes the first digital asset to list in…
Shiba Inu Maintains Surge as Petition to List on Robinhood Surpasses 300,000
(Bloomberg) Shiba Inu hit a record of almost 0.000060 after signatures submitted to Change.org requesting Robinhood to list the meme token reached 326,000. Robinhood CEO Vlad Tenev says the exchange…
Microsoft Earnings Hit a Record Above $20 Billion in Q1 FY22 on Cloud Strengths
(Microsoft) Microsoft announced a record net income of $20.5 billion in the first quarter of 2022, up 48% year over year. Operating income rose by 27% to reach $20.2 billion.…
Robinhood Stock Plunges to Its IPO Price as Q3 2021 Crypto Revenues Disappoint
(Robinhood) Robinhood Markets Inc.'s shares fell more than 10% on Wednesday to trade at around its July $38 IPO price after its crypto revenue fell 78% to $51 million in…
China’s Industrial Profits Surge 16.3% YoY Despite Persistent Cost Pressures
(NBS) Profits of industrial firms in China rose at 16.3% year over year to 738.74 billion yuan or $115.72 billion in September, a further increase from a 10.1% jump in…
Carry Cost Could Affect the Future Performance of Bitcoin ETF, JPMorgan Says
(Markets Insider) JPMorgan strategists are warning that the newly launched ProShares Bitcoin Strategy ETF could grow so big, leading to poor performance in the future. JPMorgan says the contango in…
Consumer Confidence Makes a U-turn to Post a 4-Point Increase in October
(The Conference Board) US Consumer Confidence Index rose from a three-month low of 109.8 in September to a high of 113.8 in October. The Present Situation Index rose from 144.3…
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