Trade Financial News

Investing.com-- U.S. stock index futures moved little in evening deals on Wednesday, steadying after a positive session on Wall Street as uncertainty persisted over the scope and scale of the Federal Reserve’s interest rate cuts.

The Lena Network’s newly launched Candy token lost virtually all of its value on Wednesday shortly after the liquidity protocol seemingly rug-pulled the project.

Bitcoin‘s resilience shines through as it stages a remarkable recovery, climbing over 8% in a single day to reach $67,231.45. This bounce back, especially after a concerning dip below the $60,000 mark, reignites discussions around Bitcoin price predictions, with many investors and analysts eagerly speculating on the potential for new highs.

The Justice Department says a former software engineer at Google has been charged with stealing artificial intelligence technology from the company while secretly working with two companies based in China

Stocks that traded heavily or had substantial price changes on Wednesday: CrowdStrike, Couchbase rise; Thor Industries, Nordstrom fall

Quiver Quantitative — Hedge fund managers, having wagered billions on Chevron (NYSE:CVX) acquisition of Hess (NYSE:HES), are steadfast in their bets despite potential complications arising from Exxon Mobil 's (NYSE:XOM) claim over Hess’s stakes in a Guyana oil project. This claim poses a new obstacle to Chevron's $53 billion acquisition, touted as the crown jewel for its strategic expansion. Exxon’s assertion of its preemptive purchasing rights over Hess’s share in the lucrative offshore development follows escalating geopolitical tensions between Guyana and Venezuela, adding layers of complexity to the already intricate acquisition process.

Competition Commission of India (CCI) on Wednesday notified regulations prescribing monetary penalty on the global turnover of a company engaged in anti-competitive conduct. The move will boost the regulator's chances of curbing such antitrust activities involving multinational firms, including Big Tech, as experts said the penalty amount would be significantly higher because it would no longer be pegged only to the firm's turnover in a relevant market. The CCI regulations followed a notification issued by the ministry of corporate affairs stipulating March 6 as the date for implementing the relevant provisions of the Competition (Amendment) Act 2023 that deal with the new monetary penalty regime.

India's pace of economic expansion in FY24 could be close to 8%, likely topping earlier official estimates, said central bank governor Shaktikanta Das. Pointing to the latest high-frequency indicators of growth, Das said, «Now that we have numbers for three quarters… Our sense and understanding of ...the momentum of economic activity tell us this 5.9% growth in the fourth quarter could be exceeded.» He also spoke about the recent Reserve Bank of India (RBI) action in the payments sector, challenging what he termed «a narrative building up» that the regulator had taken measures against fintech companies. Das said RBI's action was against a regulated entity — Paytm Payments Bank. «Fintech companies are not regulated by RBI unless they are NBFCs,» he said.

After a push higher in the prices of major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) during the Asia session, markets are going sideways on Wednesday, with traders turning to altcoin names as they hunt for the best crypto to buy today.

Sebi) has released a public notice to announce a settlement scheme with regards to certain entities in the illiquid stock options (ISO) segment of BSE. The scheme would give a settlement opportunity to all the entities that have executed reversal trades in the stock options in the period between April 1, 2014 and Sept 30 2015.

MUMBAI : Bulls turned the tables on bears in the last hour and a half of trading on positive cues from the global markets, lifting benchmark indices to new closing highs on Wednesday. US futures indicated the Dow Jones may open in the green ahead of the Fed chair's appearance at the Congress, aiding markets in India. Interest rate cuts were likely “at some point this year", chairman Jerome Powell said in a prepared testimony released later, but made it clear the Fed is not ready yet.

Also Read: Explained | Why did OPEC+ members extend oil output cuts to mid-2024 Back home, on the Multi Commodity Exchange (MCX), crude oil futures due for a March 19 expiry, was last trading 2.42 per cent higher at ₹6,638 per bbl, having swung between ₹6,484 and ₹6,671 per bbl during the session, against a previous close of ₹6,481 per barrel. -The Organisation of Petroleum Exporting Countries and its allies (OPEC+) led by Saudi Arabia and Russia agreed earlier this week to extend voluntary oil output cuts of 2.2 million barrels per day (bpd) into the second quarter or mid-2024.

PMSL) has initiated a secondary sale of shares in the company as the “family is looking for liquidity for specific needs”, the automobile manufacturer said in a filing with the stock exchanges on Wednesday. The company made the filing as a clarification to a news item on the sale of shares by its promoters. “Post transmission of shares of PMSL held by the former chairman of M&M, late Mr Keshub Mahindra (who passed away on 12th April 2023), to his family members, the family is looking for liquidity for specific needs, and hence proposes to sell a small number of shares held by PMSL in M&M,” the filing said. “The family shall continue to retain the status of the promoter group of M&M and there is no intention to sell further shares in the foreseeable future.”

If you’re a bitcoin (BTCUSD) investor, Tuesday was a wild ride. After briefly surpassing $69,000 to an all-time high, bitcoin fell fast on likely profit taking to a shade above $60,000 just a few hours later before clawing back some of those gains. 

Bitcoin has hit an all-time high less than two years after the collapse of the crypto exchange FTX severely damaged faith in digital currencies and sent prices plunging

The Middle East franchisee of Starbucks has begun firing some 2,000 staff at its coffee shops across the region after the brand found itself targeted by activists during the ongoing Israel-Hamas war in the Gaza Strip

A suspected attack by Yemen’s Houthi rebels on a ship in the Gulf of Aden caused “fatalities” Wednesday

The U.S. Securities and Exchange Commission has weakened a proposed climate disclosure rule after strong pushback from companies and others

Top Chinese financial officials have outlined details of the ruling Communist Party's plans for the year, saying a 5% target for economic growth is within reach after a strong start to the year

Stocks are steadying and recovering some of their sharp losses from the day before, which was Wall Street’s worst in three weeks

New York Attorney General Letitia James has sued a cash-advance operation based in the state, claiming it exploited struggling small businesses across the country by issuing fraudulent loans