Cryptocurrencies endured a bloodbath following the Fed’s hawkish tone on Wednesday. Despite the expected 25 bp interest rate reduction, Jerome Powell plunged markets with negative remarks. Besides signaling a more cautious stance when navigating further policy rate adjustments, Powell dented the hopes of the highly-awaited Bitcoin Reserve. Tunniverse@TheTunniverse·FollowJerome Powell’s FOMC…
Despite sluggish demand in the retail jewellery market, Beijing-based Laopu Gold has emerged as a standout success. With revenue skyrocketing 148% year-on-year in the first half of 2024 and stock prices surging 437% since its June Hong Kong listing, the jeweller has become the best performer on the Hang Seng…
The Indian rupee saw a modest recovery on December 20, appreciating by 6 paise to open at Rs 85.07 against the US dollar in early trade. This comes after it hit an all-time low of Rs 85.13 the previous day, depreciating by 19 paise. The currency briefly stabilised during the…
The largest strike in Amazon’s history, organized by the International Brotherhood of Teamsters, erupted across the US this week, marking a significant escalation in the ongoing battle for better wages, benefits, and workplace safety. Thousands of Amazon workers and Teamsters affiliates staged protests outside fulfillment centers in cities like New…
The GBP/USD exchange rate dived to its lowest level since May 2024 as the US dollar index surge gained steam. It dropped to a low of 1.2497, much lower than the year-to-date high of 1.3430 after the latest Federal Reserve and Bank of England (BoE) interest rate decisions. Bank of…
Donald Trump, the president-elect of the United States, has issued another warning to the European Union, threatening tariffs if its member states do not increase their purchase of American oil and gas. The statement, made via Truth Social, signals Trump’s intent to leverage energy exports to address the US-EU trade…
Investors are bailing on Micron Technology Inc (NASDAQ: MU) this morning after the chipmaker issued guidance for its current fiscal quarter that missed Street estimates. Micron expects to earn $1.43 per share (adjusted) on $7.9 billion in revenue in Q2. Analysts, in comparison, were at $1.91 a share and $8.98…
The United Nations reported on Wednesday that the economies of Latin America and the Caribbean are expected to rise by 2.4% in 2025, driven mostly by increased domestic consumption. However, this predicted expansion is mitigated by the risks connected with rising global geopolitical and trade tensions. The UN Economic Commission…
Bank of America Securities recently warned that Advanced Micro Devices Inc (NASDAQ: AMD) could find it incrementally difficult to gain market share in 2025. But it looks like the rest of the Wall Street does not particularly agree with its experts. More than half of the analysts who cover AMD…
The US stock market experienced a rather aggressive sell-off on Wednesday after the Federal Open Market Committee signalled less-than-expected rate cuts for 2025. Still, market research and insights firm Yardeni Research says the worst is yet to come. Experts at Yardeni Research warned clients of a steeper sell-off in January…