Asia-Pacific markets are set to trade higher, tracking Wall Street gains
The S&P 500 notched a new all-time closing high on Thursday. The broad market benchmark rose 0.27% and closed at 6,280.46.
The Nasdaq Composite also closed at a record high for the second day in a row, gaining 0.09% to end at 20,630.67.
The Dow Jones Industrial Average added 192.34 points, or 0.43%, to finish at 44,650.64.
— Lisa Kailai Han
Romain Costaseca | Afp | Getty Images
Bitcoin climbed to new all-time high of $113,863.31 on Thursday, building on its previous record reached just a day earlier, as investors jumped into risk assets and liquidated short positions.
Over the past 24 hours, $318 million in short liquidations have occurred across centralized exchanges, according to CoinGlass.
Altcoins, or cryptocurrencies other than bitcoin, joined the rally for a second day after many investors had started to lose hope that they would show signs of life this year.
Bitcoin has traded in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds, which has helped the price stay above the $100,000 level for more than 60 consecutive days. Public companies have also been on a bitcoin buying spree and outpaced bitcoin ETF inflows in the second quarter.
Read the full story here.
— Tanaya Macheel
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tom's Guide
8 minutes ago
- Tom's Guide
ChatGPT is down — latest updates on outage
ChatGPT looks to be suffering some sort of outage with users reporting that the AI chatbot was not working. We noticed an initial spike on the outage tracking site Down Detector around 7:45 a.m. PT. However, that spike quickly went away only to return a two hours later around 9:30 a.m. The official OpenAI status page has ChatGPT listed as "experiencing issues." Specifically, it says the AI assistant is having "conversation errors." Keep it here as we track the outage and provide the latest updates on the current ChatGPT issues. OpenAI's biggest AI model has gone down for varying periods several times this year with the most recent major incident occurring in June. Update: Date: 2025-08-20T17:01:51+00:00 Title: OpenAI Status page shows problems Content: The official OpenAI status page is showing ChatGPT as "experiencing issues." As of this post the status page shows the Help Center down and ChatGPT having "conversation errors." I'm also seeing an elevated error rate and a failure to load "subscriscription issue." Update: Date: 2025-08-20T16:47:07+00:00 Title: Down Detector has two spikes Content: As mentioned, ChatGPT initially went down around 7:45 a.m. Pacific before quickly resolving. The current spikes shows over 2,000 reports on Down Detector starting around 9:30 a.m. Pacific.
Skift
8 minutes ago
- Skift
Japan Tourism Hits July Record, Sharp Declines From South Korea and Hong Kong
Japan had a record 3.43 million visitors in July, the highest ever for that month, even as growth slowed to its weakest pace of the year. The country brought in 3.43 million visitors last month, a 4.4% increase from 2024, the Japan National Tourism Organization said Wednesday. And in the first seven months of 2025, Japan had 24.9 million visitors, an 18.4% jump from last year.
Yahoo
8 minutes ago
- Yahoo
3 Crypto-Centric Stocks to Grab Before the Next Bitcoin Rally
The cryptocurrency market has been giving up gains lately, with Bitcoin (BTC) pulling back sharply after hitting a new all-time high last week. Several macro concerns, including uncertainty over a rate cut in September, have been denting investors' sentiment. However, the decline is temporary, and the cryptocurrency is poised to resume its northbound journey, given that it has already had a great year so far and a rate cut in the coming months is expected to give it a further push. It would thus be an ideal time to invest in crypto-focused stocks. We have selected three stocks, namely PayPal Holdings PYPL, Interactive Brokers Group IBKR and Robinhood Markets, Inc. HOOD. Each of these stocks has strong growth potential for 2025 and has seen positive earnings estimate revisions in the past 90 days. Bitcoin Retreats But Has More Room to Grow Bitcoin has declined 5% over the past week and was trading at $113,772.65 on Wednesday morning after hitting an all-time high of $124.496, its fourth record high this year. The high came following the release of the consumer price index (CPI) report. CPI for July rose less than expected, raising hopes that the Federal Reserve would go for a rate cut in September. However, the euphoria was short-lived after higher-than-expected wholesale inflation data raised fresh doubts over a September rate cut. Investor sentiment was further dented after Treasury Secretary Scott Bessent said last week that President Donald Trump's strategic bitcoin reserve, which was created in March, would only consist of bitcoin seized by the federal government, while officials look into 'budget-neutral pathways to acquire more Bitcoin.' However, experts believe that the decline in Bitcoin is temporary and once these macro concerns ease, the cryptocurrency will resume its rally. Although the Federal Reserve hasn't suggested any timeline for the next rate cut, markets are pricing in an 85% chance of a 25-basis-point rate cut in September, according to the CME FedWatch Tool. 3 Bitcoin-Centric Stocks With Upside PayPal Holdings PayPal Holdings provides digital wallet services that enable users to purchase, transfer and sell various cryptocurrencies, such as Bitcoin, Ethereum, Bitcoin Cash and Litecoin. Through PYPL, users can use cryptocurrencies to pay for goods and services from online merchants. Additionally, PayPal's mobile wallet platform, Venmo, allows users to engage in cryptocurrency buying and selling activities. PayPal Holdings' expected earnings growth rate for the current year is 10.8%.The Zacks Consensus Estimate for current-year earnings has improved 2.6% over the last 60 days. PYPL currently has a Zacks Rank #2 (Buy). Robinhood Markets Robinhood Markets, Inc. operates a financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds, options, gold and cryptocurrencies. HOOD buys and sells Bitcoin, Ethereum, Dogecoin and other cryptocurrencies using its Robinhood Crypto platform. Robinhood Markets' expected earnings growth rate for the current year is 39.5%.The Zacks Consensus Estimate for current-year earnings has improved 23.6% over the past 60 days. HOOD currently has a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Interactive Brokers Group, Inc. Interactive Brokers Group is a global automated electronic broker. IBKR executes, processes and trades in cryptocurrencies. IBKR's commodities futures trading desk also offers customers a chance to trade cryptocurrency futures. Interactive Brokers Group has an expected earnings growth rate of 11.4% for the current year. The Zacks Consensus Estimate for current-year earnings has improved 11.4% over the last 60 days. IBKR currently has a Zacks Rank #1. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report PayPal Holdings, Inc. (PYPL) : Free Stock Analysis Report Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Inicia sesión para acceder a tu portafolio
