Super Micro Computer shares surged to lead gains on the S&P 500 Friday, as JPMorgan analysts lifted their rating and price target for the server maker's stock.
Fed posts smaller loss on operations in 2024
The Federal Reserve said on Friday it generated a smaller loss on its operations last year than in 2023 as its ongoing work to contain inflation kept its books in the red. The U.S. central bank said the total distribution of its comprehensive net loss last year stood at $77.5 billion versus $114.6 billion in 2023. The Fed last turned a profit in 2022.
Trump Adviser Calls to End Muni Tax Break in Threat to Market
(Bloomberg) -- Stephen Moore, an informal economic adviser to President Donald Trump, floated eliminating the federal tax subsidy for municipal bonds, a concerning sign for the market where states and cities raise debt.Most Read from BloombergChicago Transit Faces ‘Doomsday Scenario,’ Regional Agency SaysNew York Subway Ditches MetroCard After 32 Years for Tap-And-GoLA Faces $1 Billion Budget Hole, Warns of Thousands of LayoffsDespite Cost-Cutting Moves, Trump Plans to Remake DC in His StyleAmtr
Crypto Weekly: Bitcoin stalls, Kraken goes big, Pakistan accelerates, Onramp gets insured
Bitcoin’s price holds steady with bullish signals ahead, while Kraken’s $1.5B acquisition gains industry support, Pakistan accelerates blockchain adoption, and Bitcoin custody security gets a $100M boost.
Micron Stock Falls but Analysts Are Bullish Despite Gross Margin 'Fly in the Ointment'
Shares of Micron Technology turned lower Friday after the company’s fiscal second-quarter results a day earlier, but analysts have remained bullish on the memory chip company.
The White House's promotion of Tesla's stock is an ethics nightmare — and it's not even working
Trump's Commerce Secretary pushed "unbelievably cheap" Tesla stock as shares continued to fall.
US scraps sanctions on Tornado Cash, crypto ‘mixer’ accused of laundering North Korea money
The U.S. Treasury on Friday lifted economic sanctions against Tornado Cash, a firm that makes cryptocurrency transactions harder to track, which the Biden administration had accused of helping launder more than $7 billion for North Korean and other cyber hackers. The Treasury Department's Office of Foreign Assets Control blacklisted Tornado Cash in 2022 after concluding it was helping launder the proceeds of cyber crimes, including more than $455 million stolen by Lazarus, a North Korean government-backed hacking group. Six users of Tornado Cash - a cryptocurrency "mixer" that obscures the origins and recipients of transactions - had filed a lawsuit to challenge the sanctions with the financial backing of the Coinbase crypto exchange.
North Dakota oil regulator expects lower oil prices this year amid Trump tariff uncertainty
Oil prices will likely slip this year, the director of North Dakota's state oil regulator predicted, amid uncertainty surrounding U.S. President Donald Trump's tariffs on neighboring Canada and Mexico. North Dakota is the third-largest oil producing state in the U.S. U.S. crude futures have been trading below $70 a barrel for the last three weeks, according to data from LSEG, with investor sentiment partly quashed by uncertainty around potential trade tariffs.
Dogecoin co-creator not impressed with X’s political tilt — Elon Musk offers a role
Dogecoin co-creator Billy Markus is not impressed with X focusing on politics instead of creators. X owner Elon Musk asked him to help build creator tools.
FedEx Stock Sinks as Analysts Cut Price Targets After Shipper Slashed Its Outlook
FedEx shares sank Friday as several analysts dropped their price targets for the shipping giant's stock after the company lowered its outlook.