U.S. Treasury Downplays Role of Crypto in Financing Palestinian Militant Groups
Finance
FinCEN Report Unveils Bitcoin's Role in Human Trafficking and Child Exploitation
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Gold Prices Plunge Below $2,000 as Stubborn Inflation Dashes Rate Cut Hopes
"Gold prices tumbled below the critical threshold of $2,000 per ounce, marking the lowest point in two months, as a U.S. inflation report that exceeded expectations dampened hopes for an imminent reduction in interest rates by the Federal Reserve. -
Dow Faces Sharp Decline Amid Hotter-Than-Expected Inflation Data
"The stock market experienced a significant downturn on Tuesday, with the Dow Jones Industrial Average plummeting over 500 points, marking one of its steepest declines since March 2023. This sell-off was spurred by unexpectedly high inflation data for January, which has cast doubts on the anticipated series of Federal Reserve rate cuts that many investors had been banking on to bolster the equity market.
The Latest
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Oil Prices Set for Weekly Gain Amid Positive Economic Indicators
Global oil prices steadied on Friday, positioning Brent crude for its first weekly gain in three weeks. Economic indicators from major consumers China and the United States have bolstered hopes for increased demand, contributing to the positive market sentiment. 
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Bitcoin Surges Above $66,000 as Inflation Eases, Boosting Market Sentiment
Bitcoin surged past $66,000 early Thursday morning, driven by signs of easing inflation in the U.S., marking a significant uptick in the cryptocurrency market. This notable rise comes as the digital asset experiences a 6.6% increase from the previous day, reaching $66,245.22 at the time of writing. This marks an 8.3% gain from last week, with $82 billion worth of Bitcoin traded over the past 24 hours, according to Coinglass. 
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Crypto Craze Hits New Heights in South Korea with 10% of Population Trading
The enthusiasm of retail investors in South Korea for cryptocurrency is notable, demonstrating a robust gambling spirit. 
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Credit Card Delinquencies Surge as Nearly 1 in 5 Borrowers Maxed Out, New York Fed Report Reveals
Credit card delinquencies are on the rise, with nearly a fifth of borrowers "maxed-out" on their available credit, according to a new report from the New York Federal Reserve's Center for Microeconomic Data. The research shows that household debt increased by 1.1 percent, or $184 billion, in the first quarter of the year, bringing the total to a staggering $17.69 trillion. 
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GameStop and AMC Soar Amid 'Roaring Kitty' Return, but Experts Doubt Meme Stock Rally's Sustainability
GameStop (GME) and AMC (AMC) shares have skyrocketed once again, with both stocks more than doubling in value over the past week. The surge in these meme stocks has been attributed to the reemergence of Keith Gill, also known as "Roaring Kitty," whose bullish stance on GameStop ignited the 2021 meme stock rally. However, Wall Street strategists caution that this recent burst of enthusiasm is unlikely to match the intensity of the 2021 mania. 
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Copper Surges to Unprecedented $5 Per Pound Amid Soaring Demand
Copper prices surged to unprecedented levels, with May and June U.S. copper contracts breaking the $5 per pound mark for the first time in history. This historic milestone reflects a broader trend of rising demand and constrained supply, driven by the green energy transition, growing data center needs, and an improving Chinese economy. 
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Dollar Rises as Traders Anticipate U.S. Inflation Data Amid Market Volatility While Yen and Yuan Face Pressure
The U.S. dollar edged higher on Tuesday as financial markets braced for upcoming U.S. inflation data, with traders keenly watching the Consumer Price Index (CPI) scheduled for release on Wednesday. The yen hovered near a two-week low, raising concerns about potential intervention by Japanese authorities. 
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BHP's Revised $42.7 Billion Takeover Bid for Anglo American Rejected, Deemed Undervalued
Anglo American has rejected a revised buyout offer from BHP Group, valuing the company at 34 billion pounds ($42.67 billion), stating that the world's largest listed miner "continues to significantly undervalue" the company. 
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Archegos Founder Bill Hwang Accused of Lying to Wall Street to Secure Billions, Trial Begins
The trial of Archegos Capital Management founder Sung Kook "Bill" Hwang and former Chief Financial Officer Patrick Halligan began on Monday in Manhattan federal court, with prosecutors accusing the defendants of lying to Wall Street banks to secure billions of dollars in funding, 
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China to Issue 1 Trillion Yuan in 20-50 Year Bonds, Aiming to Revitalize Key Sectors
China's finance ministry is set to commence the issuance of 1 trillion yuan ($138 billion) in long-awaited, long-term special treasury bonds this week to raise funds for stimulating key sectors of its struggling economy. The ministry confirmed that the bonds, with tenors ranging from 20 to 50 years, will begin issuance on May 17, following reports from four sources with direct knowledge of the plans. 
