News Formal

CNBC Daily Open: Asia-Pacific Stocks Soar, Berkshire's Cash Pile Grows, MicroStrategy's Bitcoin Gamble

  • 📰 nbcchicago
  • ⏱ Reading Time:
  • 73 sec. here
  • 8 min. at publisher
  • 📊 Quality Score:
  • News: 49%
  • Publisher: 51%

Business Nouvelles

ASIAN STOCK MARKET,BERKSHIRE HATHAWAY,MICROSTRATEGY

CNBC Daily Open provides a glimpse into the latest global market developments. Asia-Pacific stocks are thriving, Berkshire Hathaway's cash holdings reach a 34-year high, and MicroStrategy's bitcoin investment continues to influence its market performance.

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia-Pacific stocks are performing strongly, led by large tech stocks. The New York Stock Exchange closes early Tuesday for Christmas Eve. British GDP grew by 0.2% in the three months ending September, according to revised figures from the Office for National Statistics, published Monday.

Previous estimates had pegged third-quarter gross domestic product at 0.1%. Earlier this month, data from the ONS showed the U.K. economy had unexpectedly grown. Berkshire Hathaway has amassed the largest amount it's hoarded in absolute terms. Cash now comprises around 30% of Berkshire's total assets, the highest proportion in 34 years, according to data from Oppenheimer. Buffett sold large quantities of Apple and Bank of America shares this year. Why is the 94-year-old legendary investor holding on to so much cash? Analysts weigh in. MicroStrategy, a publicly traded company known for its investment in bitcoin, saw its stock slump 8.8% on its first day in the Nasdaq-100 index, following the cryptocurrency's price falling to below $93,000 on Monday. That said, MicroStrategy is still among the best-performing U.S. tech companies valued at $5 billion or more, according to FactSet data. Its shares have rocketed 426% so far this year, mostly thanks to the company's bitcoin holdings. With the rally in bitcoin following Donald Trump's election victory, MicroStrategy's bitcoin holding is now worth around $42 billion. It's the basis for the company's market capitalization ballooning to $82 billion from roughly $1.1 billion from the time it began buying bitcoin in bulk. Investors looking to ride on MicroStrategy's explosive rise should remember that the company's share price is currently trading on the back of bitcoin prices

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 545. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

CNBC Daily Open: Asia-Pacific Stocks Lead, UK Economy Grows, and MicroStrategy's Bitcoin GambleCNBC Daily Open covers the latest market news, including strong performance in the Asia-Pacific stock market, revised UK GDP growth, Berkshire Hathaway's record cash holdings, and MicroStrategy's bitcoin-fueled stock surge.
La source: CNBC - 🏆 12. / 72 Lire la suite »

CNBC Daily Open: U.S. stocks began December chilly, but will probably warm up soonDecember may have triggered the thawing of Mariah Carey, but stocks are beginning the month chilly, though unlikely they'll remain in permafrost this month.
La source: CNBC - 🏆 12. / 72 Lire la suite »