USD/JPY climbs to fresh 2023-high above 136.00
USD/JPY gathered bullish momentum and climbed above 136.00 on Friday, with the pair on track to post its highest weekly close since early December. The data from the US showed that PCE inflation rose at a stronger pace than expected in January, fuelling the US Dollar rally and pushing the US Dollar Index above 105.00. […]
Stocks end sharply lower, book weekly losses after hot PCE inflation reading
On Friday, stocks closed sharply lower, resulting in major indexes experiencing big weekly losses. The cause of this downturn was the Personal Consumption Expenditures Price Index (PCEPI) for January, which came in higher than expected. This news confirms the Federal Reserve’s (Fed) expectations that they will raise interest rates in order to control inflation. The […]
Jump Crypto Attack “Reverse” Hacker To Recover 120,000 Stolen ETH
Jump Crypto recently partnered with MakerDao’s Oasis eco-product to attack an upgradable Oasis contract, transferring collateral and debt from the attacker’s vault to its vault, thereby obtaining the number of money stolen from the Wormhole hacker vault. Oasis has received an order from the High Court of England and Wales to recover assets from the […]
GBP/USD drops below 1.2000, heads for lowest weekly close in three months
The US Dollar extended its gains during the American session on Friday, supported by economic data that continues to point to more rate hikes from the Federal Reserve. This, in turn, drove the GBP/USD to test levels under the critical support area of 1.1940. The pound has been consolidating its weekly losses as a result […]
Tesla investor Gerber ends bid for EV maker’s board
Ross Gerber, the co-founder and chief executive of Gerber Kawasaki Wealth and Investment Management, recently dropped his bid for a seat on the board of Tesla Inc. (TSLA), the electric-vehicle maker. Gerber had launched his bid in January amid a steep decline in the stock price and concerns that Tesla Chief Executive Elon Musk was […]
US Regulators and Federal Reserve Issue Joint Warning About Crypto Liquidity Risks
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) have jointly issued a warning to banking organizations regarding the key liquidity risks associated with crypto assets. The regulators clarified that banks are neither prohibited nor discouraged from providing banking […]
Warner Bros. Discovery wants to exit regional TV sports: WSJ
Warner Bros. Discovery Inc. (WBD) closed down 1.14% on Friday after news broke that the company is looking to end its management of three regional sports TV channels. According to a report from the Wall Street Journal, an executive from the business told the sports teams that bankruptcy was an option and that the business […]
Sustained strength in real personal income is a mixed blessing – Wells Fargo
On Friday, the United States released data that showed an increase in real personal spending and higher inflation numbers. This news has been met with mixed reactions from analysts. Wells Fargo analysts have argued that while the jump in wages is supportive of spending, it could be a challenge for the Federal Reserve if it […]
Kim Kardashian, Floyd Mayweather Urged Court to Drop the EMAX Lawsuit
Kim Kardashian, Floyd Mayweather, Paul Pierce, Jona Rechnitz, and Giovanni Perone recently filed a motion to a California federal judge, urging for the dismissal of their renewed EMAX lawsuit. The lawsuit was brought by investors who lost money due to their involvement with EthereumMax (EMAX) and alleged that the celebrities promoted the asset to inflate […]
Lucira stock more than doubles after hours on FDA OK for COVID-19, flu test
Lucira Health Inc. (LHDX) shares more than doubled in the extended session on Friday after the Food and Drug Administration (FDA) authorized the use of their at-home test that can detect both the flu and the virus that causes COVID-19. The stock price of Lucira soared more than 150% after hours, following a regular session […]