Bitcoin has traded above US$8,000 for the first time ever, buoyed by apparent institutional interest. Analysts said retail demand has been stoked by a new app that allows users to buy Bitcoin, which has appreciated 700% in the year to date. After ending last week ahead 17%, the cryptocurrency opened Monday up a further 1.5% up at US$8.167.49.
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General Electric (NYSSE:GE) shares nudged slightly higher pre-market after traders had the weekend to absorb new chief executive John Flannery’s revival plans.
Amazon Inc’s (NASDAQ:AMZN) stock price has been raised to a top-of-the range US$1,360 a share by Instinet, according to MarketWatch. The website also revealed that Raymond James has increased its valuation of Wal-Mart Stores Inc NYSE:WMT) to US$110 a share from US$90, while National Vision (NASDAQ:EYE) has been initiated with an ‘outperform’ rating and US$34 target by Wells Fargo.
Alibaba Group Holding Ltd (NYSE:BABA) is spending US$2.8bn to take a 36% stake in Chinese shop chain Sun Art Retail Group.