[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"8931d44d-ff87-43f9-b622-f841806fabe6","updated_at":"2023-08-28T07:21:12.61053+00:00","account":{"firstName":"Marigold","lastName":"Vance"},"description":"The Jackson Hole meeting's impact on economic trends, including Federal Reserve Chair Jerome Powell's cautious approach to interest rates, is explored alongside shifts in the crypto market. Notable market movements, regulatory developments, and cryptocurrency gains are highlighted, offering readers insights into the current financial landscape.","sapo":"Recent financial news highlights Fed Chair Jerome Powell's cautious stance on interest rates at the Jackson Hole meeting, while the crypto market experiences shifts in response to the Fed's commitment and regulatory developments. Top crypto gainers: DYDX, AKRO, BLUR, LPT, TOMI. ","title":"Top Financial News Today Friday August 25, 2023","content":"

Top stock news:At the Jackson Hole meeting, Fed Chair Jerome Powell's cautious stance on interest-rate hikes led economists to anticipate the Fed staying on hold, with a November rate hike being a close call. The focus remains on labor market data's influence on the Fed's cautious approach.

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The University of Michigan revealed consumer inflation expectations for the next five years, with an anticipated rate of 3%, slightly surpassing the expected 2.9%.
Today's trading session concluded with positive gains in stock indices. The Dow Jones Industrial Average (DJIA) rose by 0.73%, the S&P 500 (SPX) by 0.67%, and the Nasdaq 100 (NDX) by 0.85%.
Affirm Holdings (AFRM) gained 10% in extended trading post strong earnings, but Intuit (INTU) dropped despite solid results. Marvell Technology (MRVL) and Nordstrom (JWN) also slipped in after-hours trading despite beating expectations.
The U.S. 10-Year Treasury yield held steady at 4.23%, while the Two-Year Treasury yield rose to 5.07%, resulting in a spread of -84 basis points between them.

Top crypto news:

Bitcoin (BTC) slipped below $26,000 on Friday as investors have digested the Fed Chair's continued commitment to containing inflation, including raising interest rates further if needed. Solana, Arbitrum, Optimism, PEPE see steeper falls.
IRS releases draft of proposed reporting rules for digital asset brokers to use a new form to simplify tax filing and cut down on tax cheating. Many crypto commentators believe that this will make crypto firms more reluctant to do business in the U.S.

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PayPal’s stablecoin sees limited uptake post-launch. Rroughly 90% of PYUSD is still held by Paxos Trust, only 7% of the total supply is held on exchanges.
Binance removed “yellow” and “green” payment options from its peer-to-peer (P2P) service after being criticized for using these code words to represent sanctioned Russian banks.
Magnate Finance on Base rug-pulled its users of $6.5 million after ZachXBT warned about the possibility of an exit scam due to several actions of deleting the Telegram channel and X account, as well as taking down the website.

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Top 5 crypto gainers today:

1. dYdX (DYDX)

DYDX surged as unlock of 83 million tokens gets delayed until December. Additionally, the rising demand can be attributed to the upcoming mainnet launch of dYdX V4.

2. Akropolis (AKRO)

Akropolis price surge 15.6% in the last 24 hours. The cryptocurrency was pumping hard after printing the last call.

3. Blur (BLUR)

BLUR bulls getting stronger after choch play out, volume slowly rising as good momentum. The coin increased 13.45% today.

4. Livepeer (LPT)

The price of Livepeer surged after its ONCHAIN SUMMER STORIES event, coupled with news of Doug Petkanics, the Founder of Livepeer, participating in Mainnet 2023 on September 20-22 in NYC.

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5. tomiNet (TOMI)

tomiNet went up 4.06% today after the listing on Coinstore. The TOMI cryptocurrency continues to rise in value for a consecutive period of nine days.

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","tags":[{"tag":{"tag":"stocks","id_tag":"stocks"}},{"tag":{"tag":"crypto","id_tag":"crypto"}},{"tag":{"tag":"News","id_tag":"news"}}],"image":{"fileName":"Top financial news today Aug. 25.png"}}]

Top Financial News Today Friday August 25, 2023

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