Usa Financial News

By David Shepardson

Investing.com-- Most Asian stocks moved in a tight range on Friday as investors digested mixed inflation readings from the U.S. and China, while Japan’s Nikkei 225 index continued to blaze past its global peers.

Hertz will be selling about one-third of the electric vehicles in its fleet after they lost value more quickly than expected, the company said Thursday. The drop in value is a blow to the company's efforts to replace gasoline vehicles with cars that do not produce tailpipe emissions. The electric vehicles the company owned were also more likely to be involved in collisions, Hertz said, and they proved costly to repair. The company said it planned to buy more gasoline-powered vehicles to replace the 20,000 battery-powered cars it was selling. «Certain of these EVs became uneconomical for us,» Stephen Scherr, Hertz's chief executive, said in an interview on Thursday.

Chamath Palihapitiya announced on social media platform X, the launch of 8090, a new incubator fully funded by him, to help enterprise software startups get off the ground. «Tell us what enterprise software you use and my team and I will build you an 80% feature complete version at a 90% discount,» his post read.

Citi Research on Friday lowered its Brent price forecasts for this year and 2025, citing oversupply concerns but expects prices holding above $70 per barrel in 2024 as OPEC+ keeps global oil markets «finely balanced». Citi cut its 2024 Brent price forecast by $1 to $74 per barrel and slashed 2025 forecast by $10 to $60 per barrel, but said in a note that recent activity in the Red Sea causing further tension in the Middle East could see near-term upside to the risk premium. The United States and Britain launched strikes from the air and sea against Houthi military targets in Yemen in response to the movement's attacks on ships in the Red Sea, a dramatic regional widening of the Israel-Hamas war in Gaza. Brent crude futures were trading around $79 a barrel at 0337 GMT on Friday, while U.S.

Bitcoin's current dominance is 51.14 percent, reflecting a decrease of 0.15 percent within the day. The decline comes despite the coin touching $49,012 (up 5 percent) on January 11 after Bitcoin exchange-traded funds (ETFs) were approved by the US SEC and began trading.

Yemen over recent attacks on Red Sea shipping were «necessary and proportionate», UK Prime Minister Rishi Sunak said. «Despite the repeated warnings from the international community, the Houthis have continued to carry out attacks in the Red Sea,» Sunak said in a statement. «We have therefore taken limited, necessary and proportionate action in self-defence, alongside the United States… to degrade Houthi military capabilities and protect global shipping,» he said. Sunak's statement followed comments by US President Joe Biden about the strikes carried out against the Houthis, who control wide areas of Yemen. Biden described the joint strikes as «defensive» and warned of further measures if the Iran-backed rebels kept attacking Red Sea shipping. He said Australia, Bahrain, Canada and the Netherlands had also provided non-operational support. The Houthis have stepped up attacks in recent weeks on shipping in the Red Sea, a vital waterway through which 12 percent of world trade flows. Houthi television channel Al-Massirah said the air strikes hit the capital Sanaa as well as the cities of Hodeida and Saada. US and British forces this week shot down 18 drones and three missiles fired by Houthi rebels in the Red Sea in what Washington called a «complex Iranian-designed» attack. UK Defence Secretary Grant Shapps said on social media platform X that four Royal Air Force Typhoon fighter jets had taken part in Friday's strikes against Houthi targets alongside US forces. Sunak described the Houthis' actions as «irresponsible» and «destabilising» and said their attacks were «driving up commodity prices». «This cannot stand.

Houthi rebels over their attacks on shipping in the Red Sea pulled the world's focus Friday back on the yearslong war raging in the Arab world's poorest nation, even as shipping across the wider Mideast remains threatened. As the bombing lit the predawn sky over multiple sites held by the Iranian-backed rebels, Saudi Arabia quickly sought to distance itself from the attacks as it seeks to maintain a delicate detente with Iran and a cease-fire in the Yemen war from which it hopes to finally withdraw. Meanwhile, the U.S.

South Korean crypto-related KOSDAQ stocks “soared” on the news of the US Securities and Exchange Commission (SEC)’s approval of 11 Bitcoin spot ETFs.

While the US has finally approved a decade-long wait for Bitcoin exchange-traded funds (ETFs), South Korea still stands firm in banning BTC ETFs.

Narendra Modi will inaugurate the Mumbai Trans Harbour Link (MTHL) on January 12, 2024, marking a significant milestone in India's infrastructure development. The bridge, now named 'Atal Bihari Vajpayee Sewari-Nhava Sheva Atal Setu', is not only the longest sea bridge in India but also ranks 12th longest globally. "I look forward to being among the people of Maharashtra tomorrow, 12th January, which is also the Jayanti of Jija Mata and Swami Vivekananda.

Catch Live Market Updates here On Thursday, the equity benchmark indices ended the volatile session with marginal gains. The Sensex rose 63.47 points, or 0.09%, to close at 71,721.18, while the Nifty 50 settled 28.50 points, or 0.13%, higher at 21,647.20. Nifty 50 formed a small negative candle on the daily chart with minor lower shadow.

Stock market today: On account of strong global market sentiments ahead of the US inflation data release, the Indian stock market finished higher for the third straight session on Thursday. The Nifty 50 index added 28 points and closed at the 21,647 level, the BSE Sensex went up 63 points and closed at the 71,721 mark while the Bank Nifty index ended 77 points higher at the 47,438 level. Broad market indices rose more than the Nifty even as the advance-decline ratio rose to 1.65:1.

Houthi rebels. The Yemen authorities have now vowed vendetta, saying “America and Britain will have to prepare to pay a heavy price". The attack by the US and UK on Yemen comes weeks after the Houthi rebels allegedly unleashed disruptive attacks on Red Sea hurting commercial shipping on the trade route.

Asian shares were cautious on Friday as the escalating conflict in the Red Sea region sent oil prices surging, while slightly higher-than-expected U.S. inflation data did not dent investors' views on early and aggressive rate cuts in the U.S. and Europe.

India in defending freedom of navigation in the Red Sea as the two countries discussed «shared concerns» over the reckless Houthi attacks in the region. External Affairs Minister S Jaishankar and US Secretary of State Antony Blinken spoke Thursday and «discussed the United States and India's shared concerns over the reckless Houthi attacks in the southern Red Sea and Gulf of Aden, which threaten the free flow of commerce, endanger innocent mariners, and violate international law». State Department Spokesperson Matthew Miller said in a statement that Blinken emphasised the Red Sea is a major commercial corridor that facilitates international trade and «welcomed increased cooperation with India in defending freedom of navigation in the region».

ETFs) saw $4.6 billion worth of shares trade hands as of Thursday afternoon, according to LSEG data, as investors jumped into the landmark products approved by the US securities regulator on Wednesday. The products mark a watershed moment for the cryptocurrency industry that will test whether digital assets — still viewed by many professionals as risky — can gain broader acceptance as an investment.

BEIJING (Reuters) — China's exports grew 2.3% in December from a year earlier, customs data showed on Friday, adding to signs global trade is slowly turning a corner with the prospect of lower borrowing costs on the horizon, but deflationary pressures still loom.

By Sudarshan Varadhan

The U.S. Securities and Exchange Commission (SEC) made history this week, approving the first-ever Bitcoin exchange-traded funds (ETFs) to launch in the US–and setting up the crypto market for a renewed bull run.

Some cryptocurrencies are likely to benefit more than others following the SEC’s spot Bitcoin ETF approval in the USA.