Usa Financial News

Gold prices edged higher on Thursday, supported by a softer dollar ahead of a consumer inflation report due later in the day that could shed some light on the U.S. Federal Reserve's interest rate trajectory.

inflation reports and major bank earnings later in the week. Microsoft, Meta Platforms and Nvidia were the biggest boosts to the S&P 500 index, as the benchmark 10-year Treasury note yield held near 4%and a $37 billion auction of the notes drew above-average demand. Communication services was the best performing of the 11 major S&P sectors, lifted by a 3.65% rise in Meta Platforms' stock, which hit its highest intraday level since September 2021, after Mizuho raised its price target to $470 from $400. Nvidia hit a record high and closed up 2.28% after fellow chipmaker TSMC beat fourth-quarter revenue expectations. After ending 2023 with a strong rally, stocks have struggled to find upward momentum, with the S&P 500 barely positive on the year, as mixed economic data and comments from Federal Reserve officials have led investors to dial back expectations for the timing and size of any rate cuts from the central bank this year. But Wednesday's gains left the index just 0.27% away from its record close of 4,796.56 set on Jan.

Yemen's Houthi rebels on merchant and commercial vessels in the Red Sea area. The resolution, sponsored by the United States and Japan, says at least two dozen Houthi attacks are impeding global commerce «and undermine navigational rights and freedoms as well as regional peace and security.»

SEC) on Wednesday approved exchange-traded funds (ETFs) that track the price of bitcoin in a game-changer for the cryptocurrency industry which has been trying for more than a decade to launch such a product. Multiple asset managers have applied for bitcoin ETFs since 2013, but the SEC rejected them on the grounds they would be vulnerable to market manipulation. In August, however, a court found the SEC was wrong to reject Grayscale Investments' bitcoin ETF application, forcing the agency to rethink its stance.

inflation data that could influence the Federal Reserve's thinking on rate cuts, while the crypto world got a boost after exchange-traded funds (ETFs) to track bitcoin were approved in the United States. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.67% higher, on course to snap its seven-day losing streak. Japan's Nikkei breached 35,000 for the first time since February 1990 in a blistering start to the year, after rising 28% in 2023, its strongest yearly performance in a decade. The Nikkei was last up 1.9% at 35,085 on Thursday. On the other hand, China stocks loitered near 5-year lows as investor sentiment remained subdued.

New Jersey Gov. Chris Christie said Wednesday that he's ending his Republican presidential bid just days before Iowa's leadoff caucuses in a last-ditch effort to deny Donald Trump a glidepath to the nomination. «My goal has never been to be just a voice against the hate and division and the selfishness of what our party has become under Donald Trump,» Christie said at a town hall in New Hampshire.

The yen fell 0.9% on the dollar overnight and 1.2% on the euro after data showed workers' real wages shrank for a 20th straight month in November — confounding officials wishes to see wage gains before tightening policy. The yen was under gentle pressure at 145.55 per dollar in morning trade and hit a six-week low of 159.99 per euro. The euro bought $1.0974 and other majors were steady on the dollar with all eyes on the U.S.

Prem Watsa, who helms the $84 billion Toronto-based investment giant Fairfax, reiterated his commitment to India, hailing the country's economic prospects. Fairfax's investment plans for India are on track despite macroeconomic headwinds, he said. «India has got one big advantage — two-thirds of the economy is consumer-oriented,» Fairfax Financial Holdings chairman Watsa told ET.

Apple's stock over worries about iPhone sales has left the Silicon Valley tech heavyweight in danger of being overtaken by Microsoft as the world's most valuable company. Fresh worries about smartphone demand have pushed Apple's shares down 4% so far in 2024 after rallying 48% last year. Microsoft is up about 2% year to date after surging 57% in 2023.

Boeing jets have rekindled frustration among airlines over the planemaker's struggle to contain a series of safety and supply crises, industry officials and experts said. Alaska Airlines, which operated Friday's domestic U.S. flight, and United Airlines together have 70% of the MAX 9 fleet and have canceled hundreds of flights.

Alaska Airlines is canceling through Saturday all flights on Boeing 737 Max 9 planes like the one that suffered an in-flight blowout of a fuselage panel last week as it waits for new instructions from Boeing and federal officials on how to inspect the fleet. The development came as signs indicate some travelers might try to avoid flying on Max 9 jetliners — at least temporarily.

Thursday, January 11, 2024 – Eleven spot Bitcoin ETFs have been approved by the US Securities and Exchange Commission (SEC) and start trading today.

The Bitcoin (BTC) price is experiencing choppy trading conditions in wake of the news that the SEC just multiple spot Bitcoin ETF application.

Former FTX CEO Sam “SBF” Bankman-Fried has informed the federal court that he has retained new counsel ahead of his sentencing hearing for seven criminal charges. Additionally, SBF’s legal team submitted a sealed document indicating the possibility of considering an appeal to his November conviction.

The SEC has finally approved the first spot Bitcoin exchange-traded funds (ETFs) in the US. This monumental decision opens the floodgates for eleven Bitcoin spot ETF issuers who have been patiently waiting in the wings, marking the beginning of a new era for cryptocurrency investing. Surprisingly Bitcoin’s price barely budged, only gaining about 1% in the hours after the news broke.

ETFs) to track bitcoin, its Chair Gary Gensler said, in a watershed for the world's largest cryptocurrency and the broader crypto industry. The agency approved applications, including from BlackRock, Ark Investments and 21Shares, Fidelity, Invesco, and VanEck, among others, according to a notice on its website. Some products are expected to begin trading as early as Thursday. The products — a decade in the making — would be a game-changer for bitcoin, offering institutional and retail investors exposure to the world's largest cryptocurrency without directly holding it, and a major boost for a crypto industry beset by a string of scandals. Standard Chartered analysts this week said the ETFs could draw $50 billion to $100 billion this year alone, driving the price of bitcoin as high as $100,000. Other analysts have said inflows will be closer to $55 billion over five years.

Indian-American Congressman Shri Thanedar on Wednesday condemned the recent attacks on Hindu temples in the US, saying such incidents should not be tolerated. «We should not tolerate any kind of phobia, Hindu phobia. The religions are about love, helping each other and doing good things for each other. And these attacks on Hindu temples--I strongly condemn them and we must not tolerate that. I serve on the Homeland Security Committee and I am speaking with my committee members about helping religious organisations do better ability. Provide them the funds and resources they need to protect the religious organisations and help them fight any kind of Hindu phobia, any kind of hatred that we see,» Thanedar said.

BabyBus, US Federal Communications Commission (FCC) commissioner Brendan Carr told ET. The chief of FCC – an independent agency of the US government that regulates communications by radio, television, wire, satellite, and cable across the nation – also said he found the work India is doing to provide access to the internet and telecommunication services to every citizen “very admirable”.

ecommerce roll-up model, in which a company acquires and scales up multiple brands, is showing clear signs of distress with key players pausing fresh buyouts as they look for capital, multiple people aware of the matter said. Goat Brand Labs, among the better funded startups in the sector, is racing against time to raise fresh capital amid a widespread slowdown, people aware of the matter said. The Tiger Global-backed startup’s travails come after nearly two years of record funding that helped roll-up ecommerce firms like Goat bulk up their portfolio of brands, spurred also by the entry of industry pioneer US-based Thrasio into the Indian market.

McDonald's is reportedly introducing the Double Big Mac at participating restaurants across the US for a limited time starting January 24. This sandwich boasts an increased quantity of all-beef patties, totaling four, complemented by an extra serving of Big Mac sauce, along with pickles, lettuce, and chopped onions – although the cheese remains the same, with one slice positioned beneath the lower pair of patties, as per a USA Today report. Details regarding pricing and specific markets receiving the sandwich were not promptly addressed by McDonald's in response to inquiries.

By Hannah Lang and Suzanne McGee