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(Bloomberg) -- Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.Most Read from BloombergState Farm Seeks Emergency California Rate Hike After FiresTransportation Memos Favor Places With Higher Birth and Marriage RatesCitadel to Leave Namesake Chicago Tower as Employees RelocateNYC’s Newest Transit Leader Builds a Worker-Driven Strateg

Industrial construction and maintenance company Matrix Service (NASDAQ:MTRX) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, with sales up 6.9% year on year to $187.2 million. On the other hand, the company’s full-year revenue guidance of $875 million at the midpoint came in 4.3% below analysts’ estimates. Its non-GAAP loss of $0.20 per share was 11.1% above analysts’ consensus estimates.

Industrial processing equipment and solutions provider Hillenbrand (NYSE:HI) beat Wall Street’s revenue expectations in Q4 CY2024, but sales fell by 8.6% year on year to $706.9 million. On the other hand, next quarter’s revenue guidance of $695 million was less impressive, coming in 4.9% below analysts’ estimates. Its non-GAAP profit of $0.56 per share was 4.5% above analysts’ consensus estimates.

School bus company Blue Bird (NASDAQ:BLBD) reported Q4 CY2024 results exceeding the market’s revenue expectations, but sales fell by 1.2% year on year to $313.9 million. On the other hand, the company’s full-year revenue guidance of $1.45 billion at the midpoint came in 0.6% below analysts’ estimates. Its non-GAAP profit of $0.92 per share was 13.5% above analysts’ consensus estimates.

Arm Holdings reported fiscal third-quarter results that topped Wall Street estimates and raised the midpoint of its narrowed sales outlook.

Investors poured money into spot bitcoin funds while moving cash out of Ethereum ETFs as the Trump Administration lets loose a barrage of policy changes.

Global media and publishing company News Corp (NASDAQ:NWSA) reported Q4 CY2024 results topping the market’s revenue expectations, but sales fell by 13.5% year on year to $2.24 billion. Its non-GAAP profit of $0.33 per share was 5.7% above analysts’ consensus estimates.

The Federal Reserve announced on Wednesday it would be testing big banks against heightened stress in commercial and residential real estate markets as part of the U.S. central bank's annual stress tests. The Fed added that the annual exams would include an additional exploratory component that would examine shocks in the non-bank sector, as well as the impact of hypothetical shocks of numerous large hedge funds on big bank finances. The new scenarios largely track with prior year scenarios from the Fed that examine how large banks are situated to weather severe economic downturns, and in turn dictate how much capital they must set aside against potential losses.

Bitcoin mining stocks are even more volatile than Bitcoin itself, says Bitdeer’s Jeff LaBerge.

Automotive manufacturer Ford (NYSE:F) reported Q4 CY2024 results topping the market’s revenue expectations, with sales up 4.9% year on year to $48.2 billion. Its non-GAAP profit of $0.39 per share was 20.4% above analysts’ consensus estimates.