Nasdaq, S&P 500 Notch New Record Highs Following US-Vietnam Deal; Tesla Rebounds
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New York Post
9 minutes ago
- New York Post
Winklevoss twins reveal more details in Gemini IPO filing as crypto-friendly Trump boosts investor demand
Gemini's revenue fell and losses widened in the first half of 2025, the cryptocurrency exchange said in a US IPO filing, joining a wave of digital-asset firms seeking to tap public markets. Terms of the offering were not disclosed in the filing, made public on Friday. The company reported a net loss of $282.5 million on a total revenue of $68.6 million in the six months ended June 30, compared with a net loss of $41.4 million on a revenue of $74.3 million year earlier. Advertisement 3 Tyler and Cameron Winklevoss attend the signing ceremony for the GENIUS Act at the White House last month. Getty Images US IPO activity has rebounded in recent months following a slowdown earlier this year caused by uncertainty over trade policy changes, with several new listings drawing strong investor demand. Digital asset companies have also featured prominently in the IPO market in recent months, including blockbuster debuts from stablecoin issuer Circle and cryptocurrency exchange Bullish. Advertisement Bullish's debut on Wednesday made it the second listed cryptocurrency exchange in the country after Coinbase Global. Gemini will become the third public crypto exchange once it goes public. 'The question for investors regarding Gemini revolves around the business mix and moat of trading versus custody, how they differentiate on trust and growth, and what they do that Coinbase can't copy by Tuesday,' said Michael Ashley Schulman, partner and CIO at Running Point Capital. Gemini said it will use IPO proceeds for general corporate purposes and to repay all or part of its third-party debt. The exchange also supports stablecoins on its platform, a segment that has drawn attention following last month's signing of the GENIUS Act, a new US law establishing a regulatory framework for stablecoins. Advertisement 3 The GENIUS Act is a new US law establishing a regulatory framework for stablecoins. AFP via Getty Images Gemini issues the Gemini Dollar (GUSD), a stablecoin pegged 1:1 to the US dollar. The company, which also supports more than 70 cryptocurrencies and operates in over 60 countries, confidentially filed for an IPO in June. Gemini, which was founded in 2014 by billionaire twins Tyler and Cameron Winklevoss, plans to list on Nasdaq under the ticker symbol 'GEMI.' Goldman Sachs and Citigroup are acting as lead bookrunners. Advertisement The Winklevoss twins rose to prominence after suing Facebook, and its CEO Mark Zuckerberg, alleging he stole their idea for the social network. They settled in 2008 for cash and Facebook stock. 3 Executives of cryptocurrency exchange Bullish celebrate at New York Stock Exchange on Wednesdday. REUTERS Regulatory boost Regulatory clarity under the Trump administration, rising institutional adoption, and increasing ETF inflows have bolstered investor confidence and helped integrate crypto into mainstream finance. In a watershed moment for the industry, Coinbase became the first blockchain-focused company to join the S&P 500 earlier this year. Block, which facilitates bitcoin purchases, joined the index in July. The shift marks a turnaround for an industry that spent more than a decade under heavy regulatory scrutiny worldwide. 'We've seen a shift from speculation to sustainability. Institutional investors are looking for proof points – real clients, regulated products, and long-term market alignment. This is how the sector matures, and it will likely set the stage for other crypto firms keen to list their shares,' said Nick Jones, founder of crypto firm Zumo.
Yahoo
an hour ago
- Yahoo
Bank stocks may struggle amid concerning sign
Bank stocks may struggle amid concerning sign originally appeared on TheStreet. The broader market, as evidenced by the SPDR S&P 500 ETF Trust () , has shown little in the way of price action that would suggest an end to the current wave of market resilience. Every other day, it seems a new all-time high is made, and chartists go back to the drawing board to pinpoint new upside price targets. And then there can be an abrupt reversal, leading doomsayers to come out of the woodwork. 💵💰💰💵 We're all just one headline away from another sharp market move, either up or down. Incoming news and its riptides can be overwhelming, to say the least, leaving many an investor scratching their head about what comes next. So, how is an investor able to tell which way markets are likely to move next? Different schools of thought on market outlook One school of thought focuses on the economic fundamentals, such as interest rates, inflation, growth, and jobs, to develop an outlook for what to expect. This all sounds good until you try to apply it to the real markets, where things can get more complicated. Take, for instance, the current economic environment, where interest rates are widely expected to fall in coming months and quarters. On the one hand, prospects of lower rates are typically a positive for market sentiment and consequently stock prices. That thought line relies on lower rates stimulating borrowing demand, generating job creation, increasing consumer spending, and enhancing corporate profitability. And all of that is supposed to come back to propel the economy ahead, and with it, stocks. That's the optimistic outlook and argues for still higher stock prices, all-time highs be there's always that other hand, which casts doubt on many of those assumptions. The other hand points to signs of weakness in the labor market (July's disastrous jobs report), sticky inflation (Aug. 14 July CPI & PPI), and tariff uncertainty (President Donald Trump), among other factors, to justify a steady, wait-and-see attitude. This position argues that the Fed is likely easing because of economic uncertainty and weakness, which would tend to augur poorly for the stock market outlook. And then there are those who also correctly point to policy uncertainty itself as being another headwind. But that can be modeled away, as the Fed will make a decision one way or the other come Sept. 18. Apart from tariffs, then, much market uncertainty will be resolved in a few weeks. It leaves us in a conundrum (that helps explain the back-and-forth of the market in recent weeks) about which way markets will eventually move. Prices (usually) never lie when predicting market movement Then there's a second school of thought that could not care less what inflation is doing or whether jobs are being added or subtracted. It's only concerned with what past price movements are saying about potential future price movements. This position is known as technical analysis, and it relies on past prices to predict the future, which, as we all know, is not guaranteed. One can use technical analysis in many ways to identify key price points that are potential triggers to future gains or declines, including trendlines and channels. Technical indicators such as the RSI (shown on the chart below) can aid in estimating the strength of a market move and suggest potential outcomes. Then there are chart patterns that have routinely formed in the past and frequently have quantifiable price targets, a discipline known as "pattern recognition." The chart below combines all of these elements and more and highlights the key price points to watch. Spotting market trends: what to look for Let's begin by noting that price has broken down out of the major up-channel dating back to the April 2025 lows, potentially suggesting an end to the uptrend. Also look at the potential triple top forming, a major reversal pattern, denoted by the 1,2,3 above the current price. That triple top happens to be forming around the $75.00 to $75.50 area, which is more than just a nice, big, round number. It also happens to be the post-pandemic highs of 2022 (not shown), which () has yet to surpass. For comparison's sake, the S&P 500 already blew through those highs back in Jan. of 2024! Hence, it was earlier noted that bank stocks are lagging the overall market. More investing: Potential Fed chair pick makes boldest call yet on S&P 500 rally Highest tariffs since the Great Depression: What it means for stocks What may happen to stocks, markets next Price has since established a sideways range over the past few weeks between recent highs just above $75.00 and below $71.00. It is this range, along with the daily Ichimoku cloud top (currently at $71.40 and set to move sideways for several days), that defines the key price levels for KBWB. Lastly, it's worth noting that the Relative Strength Index (RSI), seen in the bottom panel of the chart, has turned up again and made a bullish crossover of both trendline resistance and the green "signal" line, potentially setting the stage for a break higher. Ultimately, events on the fundamental front will dictate which way prices move, but at least we have identified the likely key price points to a break in either direction. To recap, a move higher may unfold if price closes above $75.50 on a daily basis. A move lower may develop on daily close weakness below the Ichimoku cloud top at $71.40 or below recent lows at 70.60, leaving the $70.60 to $71.40 area as the key support zone. We'll have to see which way the current conundrum unfolds. The $75.00 to $75.50 area could be a major reversal top and hold, or a break above could signal fresh gains ahead. Maybe third time's the charm and banks finally catch up with the rest of the market?Bank stocks may struggle amid concerning sign first appeared on TheStreet on Aug 15, 2025 This story was originally reported by TheStreet on Aug 15, 2025, where it first appeared.
Yahoo
2 hours ago
- Yahoo
BofA Says 'It Better Be Different This Time,' as Stock Valuations Give Dotcom Bubble Vibes
With U.S. stocks sitting near record highs, Wall Street analysts say one key metric is starting to draw dotcom bubble comparisons. The S&P 500's price-to-book value ratio has climbed to 5.3, a touch above extreme valuations seen in March 2000, right before the dotcom bubble burst, according to Bank of America market strategist Michael Hartnett. Except, "it better be different this time," Hartnett said in a note to clients Thursday. Factors that would suggest the current market cycle is unlike the one in the 1990s—when tech stock valuations ballooned, and subsequently burst in the early 2000s—include bond allocations, the boom in artificial intelligence, currency debasement as well as global rebalancing away from the U.S. to the rest of the world, he said. However, investors partying on hopes the Federal Reserve cuts rates sooner rather than later could drag on the U.S. dollar, as rate cuts would lower the returns and attractiveness of investments in the currency. The firm's Bull & Bear Indicator sits in neutral territory, at a 6.1 on a scale of zero to 10 that measures extreme bearishness to extreme bullishness. "If not different this time, bonds get some love," Hartnett wrote; international stocks would be favored over the S&P 500 too. Investors appear "pumped" with expectations the Fed could soon join the "central bank rate cut party," with valuations being the only hurdle to pushing corporate bonds and stocks higher, he said. Traders are currently pricing in a roughly 87% chance the Fed will cut rates at its next meeting in September, according to the CME Group's FedWatch tool. However, a sharp pivot from Fed's recent policy stance could also give rise to fresh debates on the central bank's independence, and "disruption [equals] debasement," Hartnett said, suggesting a policy disruption could drive the U.S. dollar index below 90 and push investors to seek inflation and currency devaluation hedges in gold, crypto, and emerging markets in the second half of the 2020s. The U.S. dollar index, which measures the relative strength of the dollar compared to other currencies, has declined more than 9% this year, at around 98 as of Friday afternoon. A weaker dollar might prove useful for the Trump administration to see a "'25/'26 boom & bubble," Hartnett said, which he added could be an easy way "to reverse path of US debt & deficit trends." Read the original article on Investopedia Sign in to access your portfolio
