Bitcoin hit $50,000 on Sunday, reaching a more than 3-month high, as the cryptocurrency continues to rebound.
Bitcoin hit an all time high of over $64,000 in April 2021 – then but sold off in June and July, dipping below $30,000. But since mid July, bitcoin has been regaining lost ground.
Other cryptocurrencies were also higher. Ether was trading up at around $3,302 Monday
Market news roundup – morning business headlines
U.S. stock futures rise and risky assets climb as attention turns to Jackson Hole Fed gathering – U.S. stock futures rise and risky assets climb as attention turns to Jackson Hole Fed gathering – MarketWatch
Delta variant is making Americans nervous and raising fresh worries about the economy – Delta variant is making Americans nervous and raising fresh worries about the economy – MarketWatch
PayPal launches its cryptocurrency service in the UK – PayPal crypto service launches in the UK (cnbc.com)
Sainsbury Shares Rise on Speculation of Buyout Interest – Sainsbury (SBRY:LN) Shares Rise on Speculation of Buyout Interest – Bloomberg
Morrisons backs U.S. firm’s improved £7bn takeover offer – Morrisons backs US firm’s improved £7bn takeover offer – BBC News
Nvidia’s takeover of Arm raises serious concerns, says watchdog – Nvidia’s takeover of Arm raises serious concerns, says watchdog – BBC News
Euro zone business activity remains robust in August as jobs boom – Euro zone PMIs August 2021: coronavirus, summer travel (cnbc.com)
Hong Kong’s Hang Seng edges out of bear territory; oil prices surge – Asia stocks: Hang Seng edges out of bear territory; oil prices surge (cnbc.com)
Federal Reserve meet at ‘virtual’ Jackson Hole event on Thursday 26th June
Main news stories affecting the markets are about the worsening and chaotic situation in Afghanistan, the rising delta variant and plans for tapering as the Federal Reserve chair, Jerome Powell addresses the Jackson Hole virtual meeting. Economists expect more information about progress towards reducing the rate of bond purchases.
Market moving events Monday
UK, Germany and EU manufacturing PMI PMI data due Monday.
U.S. manufacturing and services PMI data due Monday. Home sales data also due.
Shorts on: FTSE 100, Dow, S&P 500 and Nasdaq
More updates on Tuesday