📈 Stocks / Finance

S&P 500 Slips as Inflation Worries Persist; Solar Stocks Hit Hard, CrowdStrike Surges

Investopedia

The S&P 500 fell 0.2% after inflation data exceeded expectations. Solar stocks, led by First Solar's 9.3% drop, struggled due to analyst concerns. AMD's 4% decline followed an AI chip event, while CrowdStrike surged 5.6% on strong software sector outlook.

TD Bank Fined $3 Billion for Money Laundering Failures

Reuters

TD Bank pleaded guilty to violating U.S. money laundering laws, agreeing to pay over $3 billion in fines and facing an asset cap. The bank failed to monitor $18 trillion in customer activity, facilitating illicit transactions. CEO Bharat Masrani apologized to stakeholders.

Fed's Rate Cuts Won't Guarantee Smooth Sailing for Banks

CNBC

Although falling interest rates typically benefit banks, persistent inflation concerns could limit the Federal Reserve’s cuts, potentially curbing improvements in net interest income. Analysts warn that timing and asset-liability sensitivity will impact how banks respond to rate changes.

🪙 Crypto

Ripple expands into crypto custody with new services for banks and fintechs

CNBC

Ripple has launched Ripple Custody, a platform to help banks and fintechs store and manage digital assets. This move diversifies Ripple's offerings beyond its XRP-based payment solutions. The crypto custody market is expected to reach $16 trillion by 2030.

🌎 Global Economy

Larry Fink Highlights Infrastructure as Key to Global Economic Growth

Yahoo Finance

BlackRock CEO Larry Fink believes infrastructure investment will be pivotal in driving global economic growth. Speaking at the Berlin Global Dialogue 2024, Fink emphasized that sectors like data centers provide stable, long-term returns, positioning infrastructure as essential for future economic expansion.

🗞️ Other Newsletters You Might Like

Essential stock market insights every day before the bell rings.