Crypto investors are watching for the Federal Reserve's next announcement for insights on bitcoin (BTC-USD) as macroeconomic concerns loom over the digital currency. Shares of Chinese EV maker Nio (NIO) are down this morning due to a report from Bloomberg stating the EV maker is weighing the possibility of raising $3 billion dollars from investors amid losses Lastly, Rite Aid (RAD) shares are down after a report from the Wall Street Journal states that the company is working out a potential bankruptcy plan with creditors, which includes liquidating their stores, potentially closing down over 400 locations in the process. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Rite Aid is negotiating with creditors over the terms of a bankruptcy plan that would include liquidating a substantial portion of its more than 2,100 drugstores, the Wall Street Journal reported on Friday, citing people familiar with the talks. Rite Aid did not immediately respond to a Reuters' request for comment. The company operates more than 2,330 stores in 17 U.S. states, although it is much smaller than rivals such as Walgreens Boots Alliance and CVS Health.
Investing.com -- Stocks wobbled after the Federal Reserve kept interest rates steady as expected but signaled another rate increase might be coming as it continues to work on getting inflation back to its 2% target rate.