Bitcoin, Coinbase, Shiba Inu, Alibaba: What to Watch in the Stock Market Today

Wall Street indexes were mixed in morning trading as investors considered a small study suggesting that the Omicron variant may cause milder disease. Here’s what we’re watching in Monday’s trading:

  • Cryptocurrencies are stabilizing after a weekend rout dragged bitcoin prices down by more than 20%. Other widely traded cryptocurrencies including Solana, Dogecoin and Shiba Inu coin at one point lost more than one-fifth of their value. Bitcoin on Monday traded at around $48,400, nearly 10% down on its level at 5 p.m. ET Friday, but up from Saturday’s low of $42,000.
  • Crypto stocks were showing strains, including bitcoin wallet provider Coinbase and bitcoin miner Marathon Digital .
  • CF Acquisition shares soared in early trading. The blank-check company sponsored by financial-services firm Cantor Fitzgerald last week agreed to combine with video platform Rumble.
  • An activist investor is urging department-store chain Kohl’s to consider a sale of the company or a separation of its e-commerce business.
  • Adicet Bio said it had received positive data from a phase 1 trial of a potential treatment for Non-Hodgkin’s lymphoma.
  • Chinese tech giant Alibaba said it would reorganize its e-commerce teams and appointed a new chief financial officer, as it faces increasing competition in China, slowing growth and a plummeting stock price.
  • Crude prices were gaining, and producers’ stocks were along for the ride, including Occidental Petroleum and ConocoPhillips .