Shares of Bumble ( BMBL) rose 10% after reversing a pre-market decline of 15% despite unveiling third-quarter revenue that missed Wall Street estimates and downwardly revised guidance for the current period over currency headwinds and Russia’s war in Ukraine.Īlexandra Semenova is a reporter for Yahoo Finance. ZipRecruiter ( ZIP) shares jumped 16% after the online employment marketplace raised its full-year outlook and greenlighted a $200 million increase to its share repurchase program. South Korean e-commerce Coupang ( CPNG) saw its stock gain 23% after posting its first on-record operating profit. In earnings news, shares of Nio ( NIO) rallied 12% after the Chinese electric carmaker reported a jump in third-quarter revenue and forecasted strong production. Bitcoin ( BTC-USD) hovered around $16,300 Thursday morning. Concerns over the possibility of insolvency for FTX after rival Binance walked back on an emergency rescue deal to buy the firm wreaked havoc on crypto markets, with jitters pouring over into other risk assets. Prior to Wednesday's rebound, renewed risk-off sentiment on Wednesday was also stoked by the fast collapse of FTX, the cryptocurrency exchange run by billionaire Sam Bankman-Fried. (Tom Williams/CQ-Roll Call, Inc via Getty Images) UNITED STATES - MAY 12: Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during a House Agriculture Committee hearing on Thursday, May 12, 2022. But Chair Jerome Powell pushed back against the notion that a shift in the Fed’s path is imminent, with inflation and payrolls still firmly elevated - the latter, still far below the Fed's goal of 2% despite October's decline. Until the latest policy-setting meeting earlier this month, traders hoped Federal Reserve officials would ease their monetary tightening plans as economic data softens. “Yes, there have been data points hinting at the easing of some prices, but they haven’t been able to muster sustainable momentum.” “So far, the effects seem to be not all that appreciably different from zero,” he said in a note late Wednesday. Republicans appeared poised to take control of the House but did not sweep polls at the extent anticipated, undermining optimism over the market-friendly gridlock investors anticipated.Įven as Wall Street awaits political clarity, with vote counting still underway, GLOBALT Investments vice president and senior portfolio manager Thomas Martin argued that markets are laser focused now on only one thing: the effect of central bank tightening on inflation. Find the latest Lockheed Martin Corporation (LMT) stock quote, history, news and other vital information to help you with your stock trading and investing. Thursday's market moves come after each of the major averages slid at least 2% in the previous session over midterm election uncertainty. Initial jobless claims, the most timely snapshot of the labor market, came in at 225,000, a 7,000 increase from the prior week, Labor Department data showed. Elsewhere in economic data - in the shadow of CPI - filings for unemployment insurance rose last week but held near historic lows.
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