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Shares Gained More Than 4% on Wednesday

(Bloomberg) -- US interest rates will settle in a range of between 3% and 4% after reductions by the Federal Reserve, according to Oaktree Capital Management LP’s Howard Marks.Most Read from BloombergHow Air Conditioning Took Over the American OfficeHong Kong’s Arts Hub Turns to Selling Land to Stay AfloatThe Outsized Cost of Expanding US Roads“The Fed will back off from the emergency rate of five and a quarter, five and a half and get down into the threes,” Marks, the co-chairman and co-founder

Robinhood's crypto-trading subsidiary used to prevent customers from withdrawing the tokens they bought. Though Robinhood Crypto LLC abandoned that policy in 2022, on Wednesday its past practices earned a $3.9 million slap on the wrist from the state of California.

The popular trading app's sunsetted ban on customer crypto withdrawals caught the ire of California's attorney general.

Puffpaw is betting specialty vapes that give tokens to smokers can help them kick nicotine addiction.

The Federal Reserve needs to cut interest rates to keep the labor market healthy, but it is now down to incoming economic data to determine by how much, San Francisco Fed President Mary Daly said on Wednesday. "As inflation falls, we've got a real rate of interest that's rising into a slowing economy; that's a basic recipe for over-tightening," Daly told Reuters in an interview. Labor market health, she said, has to be "sustained and protected, and we have to be very mindful that if policy is overly tight, you might get additional slowing in the labor market, and to my mind, that would be unwelcome."

Intel stock got hit by bad news on multiple fronts today.