Markets close mixed as Wall Street weathers a short trading week
An earnings miss by UnitedHealth Group dragged down the Dow.
Cryptocurrency exchange Kraken cuts redundant roles amid traditional finance push
Kraken, one of the world's largest cryptocurrency exchanges, is reorganizing its workforce by reducing some positions and consolidating teams where redundancies exist, while continuing to hire in key areas, a company spokesperson said on Thursday. Last year, Kraken appointed Arjun Sethi as co-CEO and announced a 15% reduction in its workforce, impacting about 400 employees. This follows the U.S. Securities and Exchange Commission's dismissal of a civil lawsuit in March, which had accused Kraken of operating illegally as an unregistered securities exchange.
Trump has discussed firing Fed's Powell with Warsh, eyed as possible successor, WSJ says
Warsh has advised against trying to fire Powell, arguing that Trump should let the Fed chair complete his term without interference, the Journal reported, citing unnamed people familiar with the matter. The report comes the same day that Trump has repeatedly lashed out at Powell, whose term as Fed chair expires in May 2026.
Trump wants lower interest rates to ‘counteract’ the inflation from his own tariff policies
“The White House’s actions have made it harder for the Fed to cut rates,” said a Columbia Business School professor.
Trump says Fed's Powell will leave if he asks him; Powell has said he won't
WASHINGTON (Reuters) -President Donald Trump said on Thursday he believes Federal Reserve chair Jerome Powell will leave his job if Trump asks him to do so, although the U.S. central bank chief himself has said he would not leave if asked by the president. Trump told reporters he was not happy with Powell, saying he has been "too late" to take actions. Powell has repeatedly said he intends to serve the full remainder of his term as chair, which expires in May 2026, and has also said he would refuse to step aside if asked by Trump.
Novo Nordisk Stock Drops on Eli Lilly Oral Weight-Loss Drug Success, Downgrade
U.S.-listed shares of Novo Nordisk plunged 7% in intraday trading Thursday after rival Eli Lilly reported positive oral weight-loss drug news and BMO cut its rating for the Danish drug developer's stock.
Bitcoin could hit $1 million by early 2027, study finds
A new study says Bitcoin could hit $1M by 2027 if over 1,000 BTC are withdrawn daily from liquid supply.
U.S. and EU stock markets pause for Good Friday — but crypto never sleeps
Crypto is open even as American and European markets close for Good Friday—providing 24/7 access to world financial opportunity.
US drillers add oil and gas rigs for first time in four weeks, Baker Hughes says
U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Thursday. Baker Hughes released the rig count report one day early on Thursday due to the Good Friday holiday. Despite this week's rig increase, Baker Hughes said the total count was still down 34 rigs, or 5% below this time last year.
US Treasury in talks with federal agencies to ease bank oversight, Bloomberg News says
The Treasury Department will take the lead on creating recommendations on the policy agenda, the report added, citing people with knowledge of the matter. The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) declined to comment on the report, while the U.S. Treasury did not immediately respond to Reuters requests for comment. Bessent said last week his department will play a greater role in banking regulation to better balance costs and benefits and ensure that lenders can finance growth in the U.S. economy.