Author: cryptorecaps.com

Investing.com– The S&P 500 closed higher Tuesday, notching a second-straight daily gain underpinned by mostly better-than-expected quarterly earnings just ahead of the start of earnings from the Magnificent 7, with Tesla set to report after the close. AT 16:00ET (20:00 GMT), Dow Jones Industrial Average rose 263 points, or 0.7%, S&P 500 gained 1.2%, and NASDAQ Composite rose 1.6%. Tesla kicks off tech earnings parade  Electric vehicle maker Tesla (NASDAQ:TSLA) set kickoff earnings for the ‘Magnificent Seven’ with a quarterly earnings after the bell. The EV maker’s stock has tumbled in recent weeks amid concerns about an EV recession that sparked a price war across in the…

Investing.com — Tesla jumped in afterhours trade Tuesday as the electric vehicle maker’s announcement that it was accelerating the launch of new EVs including affordable models overshadowed fiscal first-quarter results that fell short of estimates amid waning EV demand. Tesla Inc (NASDAQ:TSLA) rose more than 6% in afterhours following the report. For Q1, the company reported adjusted earnings per share of $0.45 on revenue of $21.03 billion, missing Wall Street estimates of $0.49 a share and $22.27B, respectively. Tesla delivered 386,810 EVs during the quarter, down from 433,371 in the three-month period a year earlier. The company’s price cuts on its EVs…

(Reuters) -Oilfield services firm Baker Hughes beat analysts’ estimates for first-quarter profit on higher international drilling demand and increased its dividend. Brent crude rose nearly 10% in the quarter on an average, prompting oil firms to drill more, creating demand for oilfield services and equipment offered by Baker Hughes and rivals. International rig count, an indicator of future production, was up 5.4% at 965 on an average at the end of the first quarter, from a year earlier, according to Baker Hughes data. Total revenue from its international segment was up at $2.79 billion in the quarter, compared with $2.59 billion…

By Arsheeya Bajwa (Reuters) – Texas Instruments (NASDAQ:TXN) forecast second-quarter revenue above analysts’ estimates on Tuesday, signaling an uptick in demand for its analog semiconductors after a prolonged slump, sending the chipmaker’s shares up 6% in extended trading. The company’s upbeat forecast, together with improving consumer electronics demand, indicates that analog chip inventory corrections might be easing. “Investors want to see signs of demand recovery or the completion of channel inventory correction. TI’s outlook gave them what they were looking for,” said Summit Insights analyst Kinngai Chan. TI’s chips help power electronic devices and allow digital processors to communicate with…

If the ongoing trends in the crypto market are anything to go by, it is right to assume that Bitcoin is narrating the tale of survivors—those who held onto BTC in their portfolios at a time when the market was struggling to get past $20,000. As a result, the token has now risen above $65,000. Needless to say, analysts have speculated and predicted amid volatility and many other factors. Glassnode co-founders compared the recent decline in bitcoin prices with that of 2021 when there was a similar strong price correction. What is happening now has been compared to Wave 4,…

Bitcoin price has gained 58% since January, but Unchained researcher Joe Burnett says there are plenty of reasons for investors to keep buying BTC. Bitcoin BTC $66,318 has just completed its fourth halving, and market participants are waiting for its impact. However, the value of BTC lies in its unique “monetary properties.” That is one of the findings by Joe Burnett, a researcher at Unchained, a Bitcoin financial services company that provides individuals and businesses with value-collaborative custody for their BTC. Burnett recently published research findings revealing that Bitcoin is the best savings tool that can “stop the free market from inevitably melting…

Ethereum’s price has faced significant resistance at the $3200 price level in the past few weeks. What are the prospects of a price rally in the near future? The decline in Ethereum’s network activity has turned Ether inflationary. Despite recent price troubles, ETH’s long-term outlook remains significantly bullish. Ethereum’s [ETH] supply has become inflationary, as the general market decline in the last month has decreased user activity on the network. According to data from Ultrasound.money, the leading altcoin’s supply has risen by over 4,836 ETH in the past 30 days. In the last week alone, this has grown by 9,000 ETH. ETH’s…

The drop in Open Interest combined with the price trajectory of the past weeks showed that a downtrend was possible for ETH. Ethereum saw a huge drop in Open Interest in April following the rejection at $3.7k The on-chain metrics were still healthy, hinting at the possibility of an uptrend Ethereum [ETH] was trading at $3.2k at press time. The $3k psychological level was breached multiple times since the 13th of April on the lower timeframes, and sentiment behind the altcoin king has weakened considerably. This was evident by the sheer drop in the Open Interest behind ETH. Combined with the…

Bitcoin price is outperforming Tesla stock for the first time since 2019, though the EV giant still maintains a sizeable BTC stash. Bitcoin’s BTC $66,141 price has finally outperformed Tesla’s (TSLA) stock over the past five years in percentage terms. The electronic vehicle manufacturer has also missed out on a potential $1.27 billion in profit after selling a big chunk of its BTC holdings in 2022. BTC overtakes TSLA in long-term gains Over the past five years, Bitcoin’s price has risen over 1,180%, while Tesla’s stock price has risen over 806%, according to TradingView data. BTC&TSLA, 5-year chart. Source: TradingView Looking at smaller…

Do Kwon, Terraform Labs Should Get $5.3B Fine, SEC Tells Court The massive sum is a “conservative measure” of Terraform Labs and Do Kwon’s ill-gotten gains, according to the SEC. The SEC asked a New York judge to impose $5.3 billion in fines against Terraform Labs and Do Kwon to resolve the civil fraud case against them. The regulator says the fines are a “conservative” but “reasonable approximation” of Terraform and Kwon’s “ill-gotten gains” from the fraud. The U.S. Securities and Exchange Commission (SEC) has asked a New York court to impose $5.3 billion in fines on Terraform Labs and…