Author: Anthony M. Orbison

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Bank of England has kept interest rates on hold at 4.75 per cent as it seeks to contend with both stubborn inflation and lacklustre growth.In a six-to-three decision, most members of the Monetary Policy Committee warned that recent increases in wages and prices had “added to the risk of inflation persistence”, damping hopes of rapid rate cuts in 2025.“We think a gradual approach to future interest rate cuts remains right,” said Andrew Bailey, BoE governor. “But with the heightened uncertainty in…

Micron Technology shares tumbled in early Thursday trading after the memory chip maker’s muted near-term outlook clouded an otherwise solid quarterly earnings report and triggered a host of price target changes from Wall Street analysts.Micron  (MU)  shares have lost nearly a third of their value, or around $55 billion, since they touched a record high in mid-June as investors worried that a slump in demand for consumer electronics would blunt profit and revenue from its key DRAM memory division. The group acknowledged that demand weakness in last night’s fiscal-first-quarter earnings report but noted that the overstocked market would likely unwind early…

The entire cryptocurrency market was painted red. Several assets, including Bitcoin (BTC), recorded a major fall over the past 24 hours. The world’s largest cryptocurrency recently hit an all-time high of $108,268.45. But BTC was trading 6.63% below this peak during press time. Sadly, the asset dipped below the coveted $100,000 mark and was trading at a low of $98,792. But what is the reason behind this notable correction?Also Read: Amazon Stock Rises as AMZN Plans $10B AI InvestmentBitcoin’s Current StateSource: CoinMarketCapAt the time of writing, Bitcoin was trading at $100,997.17. This is after the asset witnessed a nearly 3%…

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Investing.com — TD Cowen reaffirmed its Outperform rating on Boeing (NYSE:) in a note Thursday, increasing the price target to $200 from $190. The bank cites a combination of improving fundamentals and strategic shifts as key reasons for the upgrade, predicting that Boeing’s stock could see a swift upward trajectory as execution improves. Boeing’s challenging year, marked by a 31% year-to-date decline in its stock price, which TD Cowen says has positioned it as a potential “Dog of the Dow” recovery trade. The bank’s analysts note the slump is down to the company’s “especially tough year,” which included intensified FAA oversight…

contributor Posted: December 19, 2024 Ethereum struggled below $4,000, with Binance outflows suggesting potential long-term accumulation. Negative social sentiment mirrored December 2023 trends, potentially signaling a bullish recovery for ETH.  How large withdrawals could impact ETH price? Approximately 20.8 million ETH have been withdrawn from centralized exchanges over the past two months, a trend reminiscent of the 2021 bull market. Binance has been central to this movement, accounting for over 7.8 million ETH, or 33-39% of the total outflows. CryptoQuant analyst Crazzyblockk suggests these withdrawals may signal long-term accumulation or staking, reflecting investor confidence. These significant outflows from Binance indicate…

(Bloomberg) — Micron Technology Inc., the largest US maker of computer-memory chips, is set for its biggest share decline in more than four years after its revenue forecast missed projections, hurt by sluggish demand for smartphones and personal computers. Most Read from Bloomberg Sales will be roughly $7.9 billion in the fiscal second quarter, which runs through February, the company said in a statement Wednesday. That compares with an average analyst estimate of $8.99 billion. Profit will be no more than $1.53 a share, minus certain items, well short of the $1.92 projection. Though Micron is seeing strong orders for…

Check back for updates throughout the trading dayU.S. equity futures bumped higher in early Thursday trading , while the dollar held near two-year highs and Treasury yields jumped, as markets extended their reaction to yesterday’s surprisingly hawkish Federal Reserve rate decision.The S&P 500 slumped to a one-month low by the close of trading Wednesday, giving back nearly 3% from the prior session and shedding around $1.8 trillion in market value in the wake of the Fed’s final rate cut of the year. The selloff, the biggest post-Fed decline on record, was tied to the central bank’s forecast of just two rate…

A US federal judge dismissed orders sought by BiT Global to restrain Coinbase from delisting Wrapped Bitcoin (WBTC).  Wednesday’s ruling by Judge Araceli Martínez-Olguín denied the argument submitted by Hong Kong-based BiT Global to prevent Coinbase from the scheduled delisting of WBTC. The Judge held that the plaintiff failed to demonstrate the imminent and irreparable harm that would arise if the defendant delisted WBTC.  Coinbase Victory over BiT Global Judge Martínez-Olguín informed BiT Global’s attorney that evidence on what would come is missing, hence the decision not to halt Coinbase’s delisting plans.  The ruling arose from a suit filed…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Global stocks and emerging market currencies sank on Thursday after the US Federal Reserve indicated it would cut interest rates more slowly next year to guard against any renewed threat of inflation.The quarter-point reduction in interest rates the Fed delivered on Wednesday, at its final meeting before president-elect Donald Trump takes office next month, was overshadowed as officials trimmed projected cuts in 2025. Signs the Fed remains concerned over lingering inflation — and the threat that Trump’s economic plans could add to…