Shares of Cantor Equity Partners—a blank check company headed by Brandon Lutnick, the son of President Trump's Commerce Secretary—soared Thursday, a day after it announced a deal to form the world's third-largest corporate Bitcoin treasury.
Analysts say the risk of a U.S. recession has increased this year, but investors are holding out hope America can weather the storm of President Trump’s tariffs.
WASHINGTON (Reuters) -U.S. banking regulators announced on Thursday they were pulling back several documents that urge banks to show caution when dabbling in cryptocurrency and related activities. The Federal Reserve said it was withdrawing a pair of supervisory letters stipulating that banks should seek advance approval from regulators before engaging in crypto-asset and stablecoin activities. In addition, the Fed joined the Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency in withdrawing a pair of 2023 statements urging banks to be vigilant around crypto-related risks.
TRADING DAY Making sense of the forces driving global markets. By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below.
Financial software provider SS&C Technologies (NASDAQ:SSNC) reported Q1 CY2025 results beating Wall Street’s revenue expectations, with sales up 5.4% year on year to $1.51 billion. On the other hand, next quarter’s revenue guidance of $1.51 billion was less impressive, coming in 1.4% below analysts’ estimates. Its non-GAAP profit of $1.44 per share was 2.4% above analysts’ consensus estimates.
Transportation and logistics solutions provider Universal Logistics (NASDAQ:ULH) fell short of the market’s revenue expectations in Q1 CY2025, with sales falling 22.3% year on year to $382.4 million. Its GAAP profit of $0.23 per share was 52.1% below analysts’ consensus estimates.
The S&P 500 jumped 2.0% on Thursday, April 24, with surging tech stocks and hopes for thawing trade relationships helping drive a third consecutive day of gains.
Online advertising giant Alphabet (NASDAQ:GOOGL) announced better-than-expected revenue in Q1 CY2025, with sales up 12% year on year to $90.23 billion. Its GAAP profit of $2.81 per share was 40.1% above analysts’ consensus estimates.
Google parent Alphabet reported first-quarter revenue and profit that beat analysts’ expectations, sending shares higher in extended trading Thursday.
Computer processor maker Intel (NASDAQ:INTC) reported Q1 CY2025 results beating Wall Street’s revenue expectations, but sales were flat year on year at $12.67 billion. On the other hand, next quarter’s revenue guidance of $11.8 billion was less impressive, coming in 8.4% below analysts’ estimates. Its non-GAAP profit of $0.13 per share was significantly above analysts’ consensus estimates.
