Coinbase soars in market debut, valued near $86 billion
Coinbase employees gather outside the Nasdaq MarketSite during the company s IPO, in New York s Times Square, Wednesday, April 14, 2021. Wall Street will be focused on Coinbase Wednesday with the digital currency exchange becoming a publicly traded company. (AP Photo/Richard Drew)
The mobile phone icon for the Coinbase app is shown in this photo, in New York, Tuesday, April 13, 2021. Coinbase is going public at a time when chatter about cryptocurrencies is everywhere, even at the United States Federal Reserve. (AP Photo/Richard Drew)
Coinbase employees celebrate outside the Nasdaq MarketSite, in New York s Times Square, Wednesday, April 14, 2021. Wall Street will be focused on Coinbase Wednesday with the digital currency exchange becoming a publicly traded company. (AP Photo/Richard Drew)
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NEW YORK/LONDON (Reuters) - Major global stock indexes scaled new peaks on Wednesday before shedding gains that anticipated a strong recovery from the coronavirus pandemic, while the dollar dipped to three-week lows as Treasury yields held below recent highs.
FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, April 8, 2021. REUTERS/Staff
High-flying growth stocks declined on Wall Street, sending the benchmark S&P 500 and Nasdaq lower, while underpriced value stocks rose, lifting the Dow to a new record.
U.S. import prices increased more than expected in March, fueled by higher costs for petroleum products and tight supply chains in the latest data to show inflation heating up as economies reopen.
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(Reuters) - The U.S. economy picked up speed going into the spring on the back of growing confidence among consumers, the Federal Reserve said on Wednesday, and Fed Chair Jerome Powell said it is on track for stronger growth and hiring in the coming months.
FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis/File Photo
Economic activity between late February and early April was buoyed by increased COVID-19 vaccinations and strong fiscal support, and the labor market also improved as more people returned to work, the U.S. central bank said in its latest “Beige Book,” a collection of anecdotes about the economy from its 12 regional districts.
Coinbase soars in market debut, valued near $86 billion
Bitcoin topped $64,000 Wednesday, up from $29,000 at the start of the year, and Coinbase said recently that its first-quarter revenue should total around $1.8 bn. Author: MICHELLE CHAPMAN AND ALEX VEIGA AP Business Writers Published: 6:45 AM CDT April 14, 2021 Updated: 4:22 PM CDT April 14, 2021
NEW YORK Coinbase made a rousing debut on Wall Street Wednesday, with shares of the digital currency exchange rising as high as $429, briefly giving it a market value over $100 billion.
Coinbase Global Inc.‘s initial public offering happened with cryptocurrency chatter seemingly everywhere, even at the U.S. Federal Reserve. Digital currencies are being incorporated into business plans and accepted for payment by major corporations like Tesla, PayPal and Visa.
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