Oil falls for second day as US crude inventories surge
Oil prices fell for a second day on Wednesday on surging U.S. stockpiles and signs the OPEC+ producer group is unlikely to change its output policy at a technical meeting next week.
2024
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BlackRock’s tokenized fund blurs lines between traditional and crypto – Bernstein
Blackrock, the world’s largest asset manager, has launched its first tokenized fund, the Blackrock USD Institutional Digital Liquidity (BUIDL) fund, which will operate on the Ethereum blockchain. The new fund will invest in US Treasury bills, repos, and cash, offering a stable value of $1 per token and dividends in the form of tokenized USD yield to…
Earnings call: evoke announces robust growth and strategic initiatives
In a recent earnings call, evoke (formerly known as the company before rebranding) reported a 38% increase in revenue and a 41% growth in adjusted EBITDA for 2023, largely attributed to the acquisition of William Hill. Despite these gains, the company experienced an 8% pro forma revenue decline due to regulatory and compliance challenges.
Bank of Canada likely to lead the U.S. Fed in rate cuts
The Bank of Canada (BoC) is likely to move ahead of the U.S. Federal Reserve on its first rate cut, as tepid economic growth and cooling inflation are priming up conditions to ease borrowing rates sooner, economists and analysts said.
Dollar slips, yen steady after Japanese finance minister comments
The dollar dipped on Tuesday as traders waited on a fresh catalyst to give clues on Federal Reserve policy, while the yen was steady after Japan’s finance minister said that he would not rule out any measures to cope with the weakening currency.
Oil steadies as markets weigh Russian supply woes
Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support.
Crypto stock short sellers face $1.9 billion hit as Bitcoin surges – Report
The total short interest in crypto-related stocks stands at $10.7 billion, with MicroStrategy Incorporated (NASDAQ:MSTR) and Coinbase Global Inc (NASDAQ:COIN) accounting for 84% of this short interest. Overall, the sector’s short interest as a percentage of float is over three times larger than the U.S. average of 5.13%.
Stoke Therapeutics Inc. surges following ‘impressive’ study data
The company explained that new data from two open-label Phase 1/2a studies and two open-label extension (OLE) studies of children and adolescents ages two to 18 with Dravet syndrome who were treated with STK-001 showed “clinically meaningful effects.”
Western banks warn of risks in EU plan to grab Russian assets, sources say
Some western banks are lobbying against EU proposals to redistribute billions of euros in interest earned on frozen Russian assets, senior industry sources said, fearing it could lead to costly litigation.
Dollar soars with U.S. economy on solid ground; sterling slumps
The U.S. dollar rose sharply in European trade Friday, after the surprise cut by the Swiss National Bank cast the Federal Reserve in a more hawkish light. At 04:00 ET (09:00 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% higher at 104.085, near a three-week high…