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Why Crypto's Meme Coins Are Crashing
The crypto meme was strong at the end of 2024 with investors bidding up major tokens like Dogecoin (CRYPTO: DOGE), Shiba Inu (CRYPTO: SHIB), and Pepe (CRYPTO: PEPE) along with even wilder tokens like dogwifhat, Fartcoin, and Bonk. According to data provided by S&P Global Market Intelligence, at noon ET on Friday, Dogecoin is down 10.4% in the past week, Shiba Inu has dropped 11.7%, and Pepe is down 19.9% in just the last week.
Oil Traders Betting on More Volatility Win Big on US Sanctions
(Bloomberg) -- Oil traders who bought options in a bet that crude oil would snap out of its doldrums are set to reap the rewards as prices surge on fresh sanctions against Russia.Most Read from BloombergA Blueprint for Better Bike LanesWhat Robotaxis Brought San FranciscoAmbitious High-Speed Rail Plans Advance in the Baltic RegionNYC Condo Owners May Bear Costs of Landmark Green Building LawNew York, San Francisco Ranked Worst for US Traffic in City CentersA gauge of implied volatility jumped by
US consumer inflation expectations soar in January on tariff fears
U.S. consumers expect inflation to increase over the next 12 months and beyond, likely reflecting concerns that broad tariffs on imports pledged by President-elect Donald Trump's incoming administration could raise prices for households. The University of Michigan's survey showed consumers' one-year inflation expectations jumped to 3.3% in January, the highest level since May, from 2.8% in December. "For both the short and long run, inflation expectations rose across multiple demographic groups, with particularly strong increases among lower-income consumers and Independents," said Surveys of Consumers Director Joanne Hsu.
MPs pressure London Stock Exchange over Chinese fast fashion giant’s £50bn listing
The London Stock Exchange (LSE) is under pressure to closely vet Chinese fast fashion giant Shein ahead of its planned £50bn listing, amid fears about forced labour in its supply chain.
Constellation Stock Is Having a Great—and Terrible—Friday
Constellation stock is up! No, it’s down! Wait, who’s right? Turns out, they both are.
US government charges operators of crypto mixing service used by North Korea and ransomware gangs
On Friday, the U.S. Department of Justice announced the indictments of Russian citizens Roman Vitalyevich Ostapenko, Alexander Evgenievich Oleynik, and Anton Vyachlavovich Tarasov, accusing them of operating services that helped criminals launder cryptocurrency. The three were allegedly involved in operating Bender.io and Sinbad.io, two cryptocurrency mixers “that served as safe havens for laundering criminally derived funds, including the proceeds of ransomware and wire fraud,” principal deputy
Why Is Intellia Therapeutics Stock Trading Lower On Friday?
On Thursday, Intellia Therapeutics Inc (NASDAQ:NTLA) outlined its strategic priorities for 2025, emphasizing the acceleration of late-stage programs for NTLA-2002 and nex-z. These therapies target hereditary angioedema (HAE) and transthyretin (ATTR) amyloidosis, respectively. Intellia prioritized NTLA-2002 and nex-z while discontinuing the NTLA-3001 program and other early-stage initiatives. The reorganization will result in a 27% workforce reduction and a projected $8 million restructuring char
US labor market exits 2024 with strong job gains, drop in unemployment rate
WASHINGTON (Reuters) -U.S. job growth unexpectedly accelerated in December while the unemployment rate fell to 4.1% as the labor market ended the year on a solid footing, reinforcing views that the Federal Reserve would keep interest rates unchanged this month. The Labor Department's closely watched employment report on Friday also showed a decline last month in the number of people who have permanently lost their jobs and a shortening in the median duration of unemployment. A rise in these measures had raised concerns about labor market deterioration.
Wall Street 'fear gauge' at 3-week high as stocks sink
Wall Street's most watched gauge of investor anxiety rose to a three-week high on Friday as stock indexes sold off following a an upbeat jobs report that pushed back market expectations for further Federal Reserve interest rate cuts. The Cboe Volatility Index - an options-based indicator that reflects demand for protection against drops in the stock market - was last up 1.1 points to 19.18. A reading of 20 or higher on the VIX is associated with robust demand for options protection.