Asian stocks ended mixed on Wednesday, with mainland Chinese stocks posting strong gains after GDP data for the first quarter beat expectations. Japanese markets led losses to end lower for a third day running due to concerns over rising bond yields and heightened tensions in the Middle East. Uncertainty around rate cuts grew after Fed...
First Community Corp. (FCCO), the holding company for First Community Bank, reported Wednesday that net income for the first quarter declined to $2.60 million or $0.34 per share from $3.46 million or $0.45 per share in the prior-year quarter. Total net revenue for the quarter increased to $15.25 million, including $12.07 million of net interest...
Year-ahead inflation expectations among businesses in the southeast U.S. edged slightly lower in the month of April, according to the results of a survey released by the Federal Reserve Bank of Atlanta on Wednesday. The survey found that firms\' year-ahead unit cost expectations slipped to 2.3 percent in April from 2.4 percent in March. The...
Extending the surge seen over the past few weeks, crude oil inventories in the U.S. once again increased more than expected in the week ended April 12th, according to a report released by the Energy Information Administration on Wednesday. The report said crude oil inventories jumped by 2.7 million barrels last week after spiking by...
The euro was higher against its major counterparts in the European session on Wednesday, as investors cheered inflation data out of U.K and Eurozone. U.K. consumer price inflation rose by less than expected to 3.2 percent in March from 3.4 percent in February, making it likely that the Bank of England will lower its key...
The Federal Reserve released a report on Wednesday saying overall U.S. economic activity has expanded slightly since late February. The Fed\'s Beige Book, a compilation of anecdotal evidence on economic conditions in each of the twelve Fed districts, said ten out of twelve districts experienced either slight or modest economic growth. While the other two...
After trending higher over the past several days, the value of the U.S. dollar has given back ground during trading on Wednesday. The U.S. dollar index has dipped 0.31 points or 0.3 percent to 105.95, giving back ground after reaching its highest levels in over five months. Currently, the greenback is trading at 154.35 yen...
Publicly traded Bitcoin mining firm Hut 8 Corp announced on April 16 the initialization of self-mining operations at its new Salt Creek facility, only 78 days after breaking ground in the area. The Texas-based facility boasts a favourable energy profile, which is expected to reduce mining costs by 30% compared to the firm’s hosting facilities....
As the cryptocurrency community anticipates the next Bitcoin halving event, expected around April 19 or 20, speculations about its impact on Bitcoin’s price are intensifying. This scheduled reduction in mining rewards, which decreases the supply of new Bitcoins entering the market, has historically been a catalyst for significant price movements. Presently, Bitcoin (BTC/USD) is trading...
The available Bitcoin supply on exchanges is rapidly diminishing, potentially reaching depletion within the next nine months, according to a Monday analysis by Bybit. Citing data from CryptoQuant, Bybit wrote in a blog post that only 2 million BTC is present on centralized crypto trading platforms, representing less than 10% of the entire network’s supply. Cratering Bitcoin Exchange Supply Before Halving “If we assume a daily inflow of $500 million to Bitcoin Spot ETFs, the equivalent...