Micron Stock Plunges After Company Cuts Outlook, Analysts Raise Concerns
Micron Technology shares tanked Thursday after the chipmaker warned about near-term demand issues.
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Stock Bulls Balk at Buying the Dip as Fed Creates Confusion
(Bloomberg) -- Bulls stormed into the stock market at the start of trading Thursday, snapping up shares suddenly on sale less than 24 hours after the Federal Reserve’s hawkish pivot sparked a historic rout.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on SenegalBut as Thursday’s session wears on and equity indexes trim or lose the
Bitcoin selloff overdone? Why Grayscale says 'No reason to panic'
Grayscale's Zach Pandl on why Bitcoin looks poised for strength, despite Fed-triggered selloff.
US economy eyes strong finish ahead of heightened policy uncertainty in 2025
WASHINGTON (Reuters) -The number of Americans filing new applications for jobless benefits fell more than expected last week, almost reversing the prior two weeks' increases and suggesting that a gradual labor market slowdown remained in place. Other data on Thursday showed the economy grew faster than previously estimated in the third quarter, driven by robust consumer spending. The upbeat reports came a day after the Federal Reserve delivered a third consecutive interest rate cut, but projected only two rate reductions in 2025, citing the economy's continued resilience and still-elevated inflation.
Vertex’s stock hurt after non-opioid pain drug shows benefit similar to placebo
Vertex said the Phase II trial met its primary endpoint, however there was only a minor difference to placebo.
IMF says Fed taking appropriate action on rates given high US uncertainty
The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high U.S. economic uncertainty, IMF spokesperson Julie Kozack said on Thursday. "Data from the last few months shows that the labor market continues to cool at the same time that inflation has been somewhat higher than expected, but still trending down toward the target," Kozack told a news briefing. "So with this background, we see the Fed's action as appropriate."
North Korea-linked hackers accounted for 61% of all crypto stolen in 2024
Alongside the rising adoption and value of crypto assets, theft is also on the rise. This year, the total value of cryptocurrency stolen surged 21%, reaching a substantial $2.2 billion. And according to a Chainalysis report released on Thursday, more than half of this amount was stolen by North Korea-affiliated hacking groups. Earlier this year, the United Nations Security Council said that North Korean hackers stole $3 billion in cryptocurrency assets between 2017 and 2023. In 2024, hackers lin