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Shares of Eli Lilly jumped 16% Thursday morning after the pharmaceutical company released clinical trial results for its oral weight-loss drug that "demonstrated statistically significant efficacy results and a safety profile consistent with injectable GLP-1 medicines."

U.S. President Donald Trump's trade policies have sparked concerns about rising inflation and a potential recession, prompting the bank to set aside a bigger buffer to cover loans that might not be repaid. Huntington's provision for credit losses was $115 million, higher than $107 million from a year earlier. Its net interest income - the difference between what a bank earns as interest on loans and pays out on deposits - jumped to $1.43 billion in the first quarter, compared with $1.29 billion a year earlier.

U.S. applications for jobless benefits fell again last week as the labor market continues to hold up despite fears of a tariff-induced recession. Jobless claim applications fell by 9,000 to 215,000 for the week ending April 12, the Labor Department said Thursday. Weekly applications for jobless benefits are considered a proxy for layoffs, and have mostly stayed between 200,000 and 250,000 for the past few years.

The number of Americans filing new applications for unemployment benefits fell to a two-month low last week, suggesting labor market conditions remained stable in April, though uncertainty around tariffs is making businesses hesitant to boost hiring. President Donald Trump's import duties are putting pressure on the housing market, with other data on Thursday showing single-family housing starts plunging to an eight-month low in March, which underscored economists' expectations that economic growth likely ground to a halt in the first quarter.

News of the day for April 17, 2025

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Major exchanges Binance and Bybit have already integrated the SDK, which routes staked BTC into Lombard’s DeFi Vault.

(Reuters) -U.S. President Donald Trump on Thursday launched a series of attacks against Federal Reserve Chair Jerome Powell, accusing the central bank chief of "playing politics" by not cutting interest rates, asserting he had the power to evict Powell from his job "real fast," and looking forward to the day when Powell was gone. Powell's termination as Fed chair "cannot come fast enough", the president said in morning comments posted to social media. Trump's post also said the Fed should be cutting interest rates and called a recent Powell speech about the economy a "complete mess."

ISTANBUL (Reuters) -Turkey's central bank hiked its key interest rate by 350 basis points to 46% on Thursday, in a surprise move that reversed an easing cycle and boosted Turkish assets following market turmoil triggered by the arrest of Istanbul's mayor last month. The policy pivot - just four months after rate cuts had begun - aimed to ease weeks of pressure on the lira that forced the central bank to tap its foreign currency reserves, and to push back on rising inflation expectations, analysts said. Last month, the lira briefly hit a record low of 42 to the U.S. dollar and stocks and bonds plunged after the detention of Istanbul Mayor Ekrem Imamoglu, pushing the central bank to take several steps to ease the market fallout.

The economy now faces "heightened downside risks," says Powell.