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Bitcoin (BTC) volatility is finally giving BTC bulls what they want — but why now? After drifting lower for months and spending recent weeks in a tiny trading range, BTC/USD has delivered 24-hour gains in excess of 7%. Hitting its highest levels since mid-September, the largest cryptocurrency is rewarding those who refused to sell and […]
The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 2.6 million barrels for the week ended Oct. 21. On average, analysts forecasted a decrease of 800,000 barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA also showed a weekly inventory decline of 1.5 million barrels for gasoline, […]
The Bank of Canada on Wednesday lifted its key overnight lending rate by 50 basis points, or half a percentage point, to 3.75%. Nine of 12 economists surveyed by The Wall Street Journal had penciled in a 75 basis point rise. In a statement, the central bank said it expected inflation to ease “as higher […]
Microsoft Corp.’s stock MSFT, -5.25% took a 7.7% dive in morning trading Wednesday, toward the biggest one-day decline in 2 1/2 years, after the software behemoth provided a disappointing second-quarter revenue outlook. The stock was by far the biggest decliner in the Dow Jones Industrial Average DJIA, +1.00%, as the second-place loser was fellow software […]
Stifel Financial Corp. SF, +2.34% and Evercore Inc. EVR, +6.00% both reported double-digit percentage drops in compensation expense on Wednesday as banker pay dries up from 2022’s lower deal flow. Third-quarter compensation expense at Stifel fell 25% to $211.82 million from $283.1 million in the year-ago quarter, as total revenue fell to $339.4 million from […]
The Biden administration on Wednesday rolled out new measures aimed at what it described as two practices involving “junk fees” at banks KBE, +0.97%. The White House said in a news release that the Consumer Financial Protection Bureau has issued new guidance targeting “overdraft fees charged when consumers had enough money in their account to […]