The US consumer price index rose by 0.2% which was bang in line with forecasts. Prices rose by 2.5% from a year earlier, matching the slowest pace since March 2021. Energy, gas and grocery prices all fell on the month. This likely eases pressure on the Federal Reserve to raise interest rates. Michael McKee reports.
The Bank of England has expanded its Digital Pound Labs initiative into a second phase through a partnership with Polygon Labs, NOBO Finance, and Dun & Bradstreet, targeting stablecoin and digital pound infrastructure specifically aimed at improving cross-border trade settlement for small and medium-sized enterprises.
Ed Yardeni, president of Yardeni Research, says earnings are driving the markets higher. He talks about raising his year-end forecast for the S&P 500 from 8,250 to 8,400. He also talks about the artificial intelligence trade "Bloomberg Surveillance."
Longtime Bitcoin core developer Jeff Garzik has stated that the network's first major wave of users did not come from Satoshi Nakamoto's white paper but from a single Slashdot post published in July 2010 that directed thousands of technically curious readers to a working, downloadable version of the Bitcoin software, according to a summary by WuBlockchain.
Andrew Hollenhorst, chief US economist at Citi, discusses the outlook for today's US inflation report. "If we get a cool reading again this month, and we think that we will, then you have more of a trend toward cooling inflation," Hollenhorst tells Bloomberg Television. "And that's just a very, very different story than what we've been hearing from some Fed officials."
Marc Seidner, CIO for non-traditional strategies at Pimco, discusses the outlook for inflation, the US economy and Federal Reserve policy. "We're much less fussed about about the inflation outlook on a forward-looking basis than I think many in the market," Seidner tells Bloomberg Television.
Norway's sovereign wealth fund delivered its strongest quarterly performance in six years, driven by its exposure to major technology companies including Nvidia Corp., Apple Inc., and Microsoft Corp. Additionally, the fund's CEO Nicolai Tangen highlighted the positive impact of Asian tech stocks on overall profits. Bloomberg'sHeidi Taksdal Skjeseth reports.
Researchers said North Korean hacking group Kimsuky is using AI tools in cyber operations targeting cryptocurrency companies.
Crypto.com launched tokenised stock derivatives, allowing users in selected markets to trade blockchain-based stock-linked products.
Guy Johnson, Tom Mackenzie and Mark Cudmore break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade."
The number of wallets holding at least 10,000 Bitcoin (CRYPTO:BTC) reached a six-month high, with about 90 wallets in that group.
Asian stocks rose and US equity-index futures advanced as CoreWeave reported stronger-than-expected sales growth and Super Micro's revenue forecast topped estimates. Bloomberg's Neil Campling reports.
