Bitcoin rallies as inflation data comes in lower than expected
Bitcoin jumps past $83,900, lifting Ethereum, Solana, and XRP. With CPI data easing Fed concerns, investors eye further gains.
US consumer inflation cools in February before import tariffs hit
WASHINGTON (Reuters) -U.S. consumer prices increased moderately in February as higher shelter costs were partially offset by cheaper airline fares, giving the Federal Reserve room to keep interest rates unchanged next week while monitoring the economic impact of a trade war. But the relief offered by the tame Consumer Price Index report from the Labor Department on Wednesday could be temporary as the data did not capture a cascade of tariffs by President Donald Trump's administration, which has caused a surge in consumers' inflation expectations and prompted economists to upgrade their inflation forecasts.
It's not that Trump doesn't care about markets. He just cares about tariffs more.
A review of President Trump's recent commentary suggests he cares more about tariffs than markets — at least so far — during his second go-around in the White House.
Solo Brands (NYSE:DTC) Reports Sales Below Analyst Estimates In Q4 Earnings, Stock Drops 19.2%
Outdoor lifestyle and recreational products company Solo Brands (NYSE:DTC) fell short of the market’s revenue expectations in Q4 CY2024, with sales falling 13.2% year on year to $143.5 million. Its non-GAAP profit of $0.03 per share was 77.7% below analysts’ consensus estimates.
Blackstone says Trump's tariffs can be a positive economic spur
MUMBAI (Reuters) -U.S. President Donald Trump's tariffs can boost manufacturing activity in the United States, the world's largest economy, Blackstone Chief Executive Stephen Schwarzman said on Wednesday. Trump's focus on tariffs since taking office in January has shaken investors, consumers and business confidence and economists have voiced concerns of a U.S. recession that could drag down the global economy. Schwarzman, a long-time Trump donor, speaking to reporters in Mumbai at an event to mark Blackstone's 20th anniversary in India, said he expected India-U.S. tariff negotiations to be smoother than those with other countries following a meeting between Prime Minister Narendra Modi and Trump last month.
Stitch Fix Stock Surges as Revenue Tops Estimates, Losses Narrow
Shares of Stitch Fix surged Wednesday after the clothing subscription business reported better revenue and a smaller loss than analysts had expected for the second quarter of fiscal 2025.
Zara parent Inditex’s shares plunge 8% after a slow start to the year with reluctant shoppers and market uncertainty
Morningstar equity analyst Jelena Sokolova said it was “too early to extrapolate the slowdown into the future,” given Inditex’s 2024 performance.
African payments system PAPSS plans to launch FX market platform this year
A pan-African payments infrastructure provider designed to facilitate trade on the continent is piloting an African currency market platform to boost commerce across borders in the region, its chief executive said. The Pan-African Payments and Settlement System (PAPSS), backed by 15 central banks on the continent, expects to add the platform later this year to complement its payments infrastructure that it says is currently integrated with 150 commercial banks. "The rates will be market driven, and our system is able to do a matching based on the rates offered by the different participants in our ecosystem," Mike Ogbalu, the CEO of PAPSS, told Reuters in an interview from Cairo.
Crypto Daybook Americas: Risk-Off Vibe Lifts Bitcoin With CPI Data Looming
Your day-ahead look for March 12, 2025