Lunar New Year

China and other Asian countries are celebrating the Spring Festival today, a deeply rooted cultural festival that marks the beginning of a new year based on the lunisolar calendar. Interestingly, the Lunar New Year has also become a significant period for cryptocurrency markets, with the leading...

Snake-themed cryptocurrencies skyrocketed ahead of the Lunar New Year, ushering in the Year of the Snake. What happened: In just nine hours after its launch, the BNB Chain (CRYPTO: BNB)-based Year of the Snake token surged by 183868% to a market valuation of $48.19 million, according to...

China’s domestic tourism spending during the Lunar New Year has surpassed pre-pandemic levels, indicating a significant recovery in the country’s tourism sector. What Happened: Tourism spending during the Lunar New Year in China has exceeded the pre-COVID levels. The official data...

Retailer Costco Wholesale Corporation (NASDAQ: COST) reported second-quarter financial results after the market close Thursday. Here are the key highlights. What Happened: Costco reported second-quarter net sales of $54.24 billion, up 6.5% year-over-year. The total came in ahead of a Street...

Bunny tokens are soaring in the wake of the Chinese New Year. 2023 in the Gregorian calendar is designated as the Year of the Rabbit. What Happened: The rabbit is the fourth animal of the Chinese Zodiac, symbolizing grace, beauty, mercy and bringing good luck. Rabbits are deeply linked to the...

At least 10 people were killed and ten injured when a gunman opened fire amid Lunar New Year celebrations in Southern California’s Monterey Park.  Reuters reports that there was no immediate information about the motive for the shooting or a description of the suspect, or the kind...

A Dogecoin (CRYPTO: DOGE) knockoff was sent flying to the moon — unwittingly — by the Lunar New Year gala broadcasted by Chinese state broadcasters on Monday. What Happened: Doge King (DOGEK) soared an impressive 2,400% on Tuesday after “Chunwan” — the New Year’s...

Two broad measures of Chinese manufacturing pointed to weakness in March following declines in February. The manufacturing weakness raises fears of the global economy once again experiencing a summer slowdown as it has in the previous three years. First, the official Chinese Manufacturing PMI was...

Futures Higher on Strong European Services Data U.S. equity futures rallied in early pre-market trade following stronger than expected Non-Manufacturing PMI data from the eurozone and the U.K. The Eurozone Services PMI rose to 47.9 in February from 47.3 in January on expectations of a flat reading...

Futures Lower Following North Korean Nuclear Test U.S. equity futures declined in overnight trade as many Asian markets remained closed as North Korean tested its third atomic bomb in defiance of the U.N. South Korean authorities registered a 4.9 magnitude earthquake in its northern counterpart,...

Futures Rise, Eyeing European Politics U.S. equity futures rose in early Monday trading as the S&P 500 closed last week at its highest level since 2007. Futures rose on hopes that European leaders would agree on new aid for Cyprus and reach new agreements on Greece's bailout. However, fears...