News

Sept. 12 will leave a mark that will probably stick for quite a while. Traders at the Bitfinex exchange vastly reduced their leveraged bearish Bitcoin (BTC) bets and the absence of demand for shorts could have been caused by the expectation of cool inflation data. Bears may have lacked confidence, but August’s U.S. Consumer Price […]

International Business Machines Corp. IBM, -2.61% said late Tuesday it will book a charge of about $5.9 billion in the third quarter to offload pension risk. The Armonk, NY-based tech company said in a Securities and Exchange Commission filing it is transferring about $16 billion of pension obligations, for benefits that began to be paid […]

Cathie Wood’s ARK Innovation ETF was tumbling Tuesday morning as technology stocks slumped amid concerns that a stronger-than-expected inflation reading Tuesday will lead to more aggressive interest rate hikes by the Federal Reserve. Shares of ARK Innovation ARKK, -6.79% were down 6.3% Tuesday morning, while the Technology Select Sector SPDR Fund XLK, -5.31% fell 3.8%, […]

Financial-technology stocks are among the biggest losers in the tech sector Tuesday after the August consumer-price index showed a surprise monthly increase, even as the year-over-year growth rate dropped to 8.3% from 8.5%. Shares of artificial-intelligence lending company Upstart Holdings Inc. UPST, -10.85% are off 9.3% in Tuesday morning trading, while shares of buy-now-pay-later operator […]

World Fuel Services Corp. INT, -3.35% said Tuesday it was raising its quarterly dividend by 17%, to 14 cents a share from 12 cents a share. The fuel distribution company’s new dividend will be payable Oct. 7 to shareholders of record on Sept. 23. The stock fell 3.2% in morning trading. Based on current stock […]

U.S. stock futures retreated on Tuesday as the August consumer-price index came in surprisingly hot, sending short-term Treasury yields to their highest levels since 2007, while derivatives traders priced in a 20% chance of a 100 basis-point interest-rate hike when the Fed meets later this month. Futures for the S&P 500 SPX, -4.32% were down […]