'Nothing short of a myth': US oil execs blast Trump's 'drill, baby, drill' mantra
"Tariff policy is impossible for us to predict and doesn't have a clear goal. We want more stability."
Fed's Collins says it is clear tariffs will drive inflation up near term
(Reuters) -Federal Reserve Bank of Boston President Susan Collins said on Thursday that Trump administration tariffs will drive up U.S. inflation but it is unclear how persistent that upward pressure will be. "It looks inevitable that tariffs are going to increase inflation in the near term" and it seems more likely than not right now the jump will be short-lived, she said in an appearance in Boston. But "there are risks" the higher price pressures could prove more enduring, she noted, and the details and reactions of those targeted by the tariffs matter a lot in determining how much prices will be affected.
When Russia invaded, banks shut down — crypto didn’t, says Everstake CEO
When Ukraine’s banks shut down during Russia’s invasion, Everstake CEO Sergii Vasylchuk says crypto stepped up.
Bitcoin could halve U.S. debt in 20 years, says Senator Cynthia Lummis
Michael Saylor and Senator Lummis call for a U.S. Bitcoin reserve at the DC Blockchain Summit, igniting markets and reframing Bitcoin as a strategic national asset.
Venezuela Currency Crashes as Trump Tariffs Choke Oil Sales
(Bloomberg) -- Venezuelans are snapping up dollars, sending the local currency crashing to record lows as concern mounts that the Trump administration is throttling the country’s oil industry and tipping the economy back into crisis.Most Read from BloombergWhy Did the Government Declare War on My Adorable Tiny Truck?Gold-Rush Fever Returns to Historic New Zealand Mining TownHow SUVs Are Making Traffic WorseTrump Slashed International Aid. Geneva Is Feeling the Impact.These US Bridges Face High R
Fed's Barkin: Extensive uncertainty could hit demand, policy in good place awaiting more clarity
The Federal Reserve's current "moderately restrictive" monetary policy is right for an environment with an abnormal amount of uncertainty and fast changes taking place in U.S. government policy, Richmond Fed President Tom Barkin said on Thursday. Barkin, in prepared remarks for an economics lecture at Washington and Lee University, did not directly address the potential fallout from the 25% auto tariffs announced on Wednesday by President Donald Trump. But like other Fed officials of late, Barkin was at least entertaining the idea that the suite of tariffs being rolled out by Trump could lead to higher-than-expected inflation, though the impact of that could also be offset by tax and regulatory policies still to come.
Braze’s (NASDAQ:BRZE) Q4 Sales Beat Estimates, Stock Jumps 13.7%
Customer engagement software provider Braze (NASDAQ:BRZE) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 22.5% year on year to $160.4 million. The company expects next quarter’s revenue to be around $158.5 million, close to analysts’ estimates. Its non-GAAP profit of $0.12 per share was significantly above analysts’ consensus estimates.
Cava Stock Gains on Addition to S&P MidCap 400
Cava shares climbed Thursday following the announcement that the restaurant chain will join the S&P MidCap 400 next week.
Lululemon (NASDAQ:LULU) Exceeds Q4 Expectations But Stock Drops
Athletic apparel retailer Lululemon (NASDAQ:LULU) announced better-than-expected revenue in Q4 CY2024, with sales up 12.7% year on year to $3.61 billion. On the other hand, next quarter’s revenue guidance of $2.35 billion was less impressive, coming in 2.1% below analysts’ estimates. Its GAAP profit of $6.14 per share was 4.6% above analysts’ consensus estimates.
Stock market today: S&P 500, Dow, Nasdaq slip while GM, Ford hit as investors weigh Trump's tariff escalation
Trump has pushed ahead with hefty auto tariffs, stoking fears over a full-on trade war.