📈 Stocks / Finance

Tech Stocks Soar After CPI Eases Fed Concerns

Yahoo Finance

US tech stocks surged, with the Nasdaq 100 up 1.9% and the S&P 500 rising 0.8%, following CPI data showing core inflation at 3.3% annually. Investors anticipate a 25 bps Fed rate cut, driving optimism. Treasuries dipped as 10-year yields hit 4.27%, while Bitcoin climbed 4.5%.

Dollar rises on CPI data and potential yuan weakening

Yahoo Finance

The dollar gained after CPI rose 0.3%, boosting Fed rate cut odds to 94%, per CME's FedWatch. A Reuters report on China's plan to weaken the yuan amid trade tariff risks further lifted the dollar against Asian currencies. The U.S. Dollar Index rose 0.33% to 106.7.

Rigetti shares dip after Citron critique

Investing

Rigetti Computing (RGTI) shares fell 4% after Citron Research criticized the stock's 300% surge in 30 days, citing overvaluation and dilution risks. This follows Rigetti's AI quantum calibration milestone and Google's quantum chip breakthrough, spotlighting the sector's volatility.

🪙 Crypto

FSOC warns of systemic risks from crypto and FinTech growth

PYMNTS

The FSOC's 2024 report highlights systemic risks from the crypto market’s $2T value and FinTech-bank partnerships, emphasizing stablecoin vulnerabilities like Tether's 70% market share. The council urges regulatory action to ensure transparency and mitigate risks amid increasing sector interconnectivity.

🌎 Global Economy

Wells Fargo forecasts U.S. economic leadership in 2025

Business Wire

Wells Fargo Investment Institute predicts U.S. economic expansion will drive global growth in 2025, with GDP growth at 2.5%. The S&P 500 may hit 6,500-6,700, driven by earnings. Long-term Treasury yields are projected at 4.75%-5.25%, supported by policy shifts and sector-wide equity gains.

2 Cards Charging 0% Interest Until 2026

Paying down your credit card balance can be tough with the majority of your payment going to interest. Avoid interest charges for up to 18 months with these cards.

Learn More

🗞️ Other Newsletters You Might Like

Essential stock market insights every day before the bell rings.