EUR/GBP slips as ECB and BoE hold rates, but hawks stay alert now

In the daily chart, EUR/GBP trades at 0.8637, extending a bearish bias as spot remains capped beneath the cluster of simple moving averages around 0.8686 and below the descending trend-line break level at 0.8704. The latest 14-day Relative Strength Index at 34.7 hovers just above oversold territory, hinting that while bearish momentum persists, downside pressure may be losing some intensity.  On the topside, initial resistance is located at the triple simple moving average area near 0.8686, with a further barrier at the former trend-line break level around 0.8704, which should act as a notable cap while the pair trades below it. A daily close above these successive hurdles would be needed to ease the current downward pressure and open the way for a more sustained recovery phase.

05-01

X launches major ad overhaul as everything app ambitions expand

Tech  X launches major ad overhaul as everything app ambitions expand  X is rolling out the most ambitious overhaul of its advertising platform in the companys 20-year history, rebuilding its Ads Manager from the ground up as Elon Musk pushes the platform deeper into payments, advertising, and AI.  The ad platform rebuild was announced earlier today, with the phased rollout beginning this month, according to a post on X.  The overhaul centers on three pillars: simplicity, advertiser control, and AI-powered performance. X said the new system uses modern retrieval and ranking models to understand user behavior in real time, improving ad relevance, targeting, engagement, and return on investment.  The rebuild gives X a stronger ad tech foundation as the platform tries to regain advertiser momentum after years of turbulence under Musks ownership.  X was expected to post its first annual ad revenue growth since Musk‘s 2022 takeover last year, though revenue remained below its pre-acquisition peak. X’s ad tools have also long been viewed as weaker than rival platforms, making the overhaul a long-needed reset.  The new ad stack also ties directly into Xs closer integration with xAI. Monique Pintarelli, head of global advertising at xAI, said the rebuild is designed to allow faster product updates and

05-01

Google Stock (GOOG) Hits All-Time High as AI Growth Lift Q1 Earnings

Alphabets Google (GOOG) stock is trading at $369, up 6% at press time after climbing to a new all-time high today after the Google parent reported first-quarter earnings that beat Wall Street expectations and showed stronger demand across cloud computing, search advertising, and artificial intelligence products.  Shares of Alphabet‘s Class C stock reached an intraday record of $374.22, above the previous closing high of about $350.34 set earlier in the week. The move pushed Alphabet’s market value to about $4.4 trillion, more than double its level from a year ago.  The rally followed a first-quarter report that showed revenue rising 22% year over year to $109.9 billion. Net income reached $62.58 billion, or $5.11 per share, compared with analyst expectations near $2.62 per share. The profit figure included a large gain from non-marketable equity securities, but operating results also improved, with operating income reaching $39.7 billion.  Google Cloud Leads Alphabets Earnings Beat  Google Cloud was the strongest driver of Alphabets quarter. Revenue in the division rose 63% year over year to $20.03 billion, well above market expectations near $15.3 billion.  The growth was tied to enterprise demand for AI infrastructure, cloud services, and Google‘s generative AI tools. Alphabet said Google Cloud’s contracted backlog reached about

05-01

Banks push to slow stablecoin law as Agora races for charter

Latest developments: Banking groups want regulators to pump the brakes on the Genius Act rollout.Major U.S. banks have asked for extended public comment periods before full implementation.Agora CEO Nick van Eck said the move is “not much of a surprise,” calling the law one of the most significant in banking historyVan Eck expects continued efforts to slow the process over the next year as banks assess risks to their business models  Reading between the lines: The fight centers on deposits and yield economics.Van Eck argued banks real concern is “deposit flight” if stablecoin issuers can pass through rewards to usersTraditional banks currently profit from the spread between near-zero deposit rates and higher returns at the Fed, he said  Why it matters: A unified federal framework could reshape U.S. finance.Van Eck said a national regime would boost innovation and global dollar adoptionThe Genius Act would require stablecoin issuers to operate as banks, raising the bar for entryThe outcome could determine whether crypto firms or traditional banks dominate digital dollar infrastructure  Closer look: Agora is betting on a bank charter to compete.The firm filed for a national trust bank charter with the OCC last week, aiming for approval by year-endA charter would allow Agora to

05-01

Carvana (CVNA) Stock Drops 3% After First Quarter Earnings Despite Revenue Surge

Retail unit volume totaled 187,393 vehicles in the quarter — representing 40% growth versus the prior year and exceeding the Streets call for 181,839 units.  Shares initially popped more than 6% in premarket activity Wednesday evening, but the enthusiasm proved short-lived. By Thursday morning, CVNA was changing hands around $387, reflecting a roughly 3% decline.  Profitability Metrics Draw Investor Attention  While headline numbers impressed, per-unit economics raised concerns among market participants. The adjusted EBITDA margin registered 10.4%, sliding from the 11.5% achieved a year earlier.  Gross profit per vehicle came in at $6,783 — marginally below Street forecasts and down $155 from the $6,938 figure in Q1 2025.  Elevated reconditioning expenses represented the primary headwind. Reduced shipping revenue combined with softer wholesale profit margins further pressured unit-level profitability.  Wells Fargos David Lantz recognized the margin headwinds while maintaining a balanced perspective, highlighting that the company is “making progress on centralizing planning and decision-making, building better tools, leveraging AI and strengthening training and workforce development.”  Carvana disclosed that it has deployed AI-powered internal platforms and enhanced employee training initiatives to address reconditioning cost challenges. “So far in Q2, we are beginning to see the impact of these efforts,” management stated.  Forward Outlook  Looking to the second quarter, Carvana projected sequential

05-01

Alex Lab hack reportedly hits SPD Bank clients after earlier $8.3M exploit

Hack on Bitcoin DeFi protocol Alex Lab has reportedly spilled into traditional finance, with ChainCatcher saying customers of Shanghai Pudong Development Bank, or SPD Bank, were among those affected in the latest incident.Alex Lab previously pledged to reimburse users after an $8.3 million exploit and has faced repeated security failures.North Korean-linked groups, including Lazarus, have been tied to earlier Alex Lab-related operations targeting both banks and DeFi projects.  A recent security incident at Bitcoin DeFi protocol Alex Lab has spilled over into the traditional banking system, with Chinese outlet ChainCatcher reporting that customers of Shanghai Pudong Development Bank (SPD Bank) were among those affected by the latest exploit.  According to Unchained, Alex Lab, built on the Stacks (STX) network, “suffered a major security breach on June 6, resulting in the loss of around $8.3 million of digital assets,” including 8.4 million STX, 21.85 sBTC and several hundred thousand dollars worth of USDT, USDC and wBTC, all valued in the low eight figures in $ terms at the time.  In that earlier case, the protocol said it would “fully reimburse affected users,” stressing that it would cover the losses from its own treasury while working with law enforcement and exchanges to track funds.  Alex Labs

05-01

Google Stock (GOOG) Hits All-Time High as AI Growth Lift Q1 Earnings

Alphabets Google (GOOG) stock is trading at $369, up 6% at press time after climbing to a new all-time high today after the Google parent reported first-quarter earnings that beat Wall Street expectations and showed stronger demand across cloud computing, search advertising, and artificial intelligence products.  Shares of Alphabet‘s Class C stock reached an intraday record of $374.22, above the previous closing high of about $350.34 set earlier in the week. The move pushed Alphabet’s market value to about $4.4 trillion, more than double its level from a year ago.  The rally followed a first-quarter report that showed revenue rising 22% year over year to $109.9 billion. Net income reached $62.58 billion, or $5.11 per share, compared with analyst expectations near $2.62 per share. The profit figure included a large gain from non-marketable equity securities, but operating results also improved, with operating income reaching $39.7 billion.  Google Cloud Leads Alphabets Earnings Beat  Google Cloud was the strongest driver of Alphabets quarter. Revenue in the division rose 63% year over year to $20.03 billion, well above market expectations near $15.3 billion.  The growth was tied to enterprise demand for AI infrastructure, cloud services, and Google‘s generative AI tools. Alphabet said Google Cloud’s contracted backlog reached about

05-01

Blue Owl shares surge after private credit firm cites SpaceX gains

Shares of , the private credit firm at the center of recent jitters over exposure to software companies, jumped 10% in trading Thursday after executives disclosed sizable gains tied to SpaceX.  “We made about 10 times our money on that investment,” an executive said on the firms first-quarter earnings call.  Blue Owl has already sold roughly half its position at a $1.25 trillion valuation and continues to hold the remainder, he said.  The call was hosted by Marc Lipschultz, co-chief executive officer, and Alan Kirshenbaum, chief financial officer. It wasnt immediately clear which executive spoke specifically about the SpaceX investment.  The gains on SpaceX, which is headed toward what may be the largest IPO in history later this year, could offset potential losses elsewhere in Blue Owls portfolio if software companies default, the executive said.  While private credit funds are composed mostly of loans, they can also hold preferred and common shares in companies.  “We made a loan to the company, and had the privilege of getting to know them very well and then participating in ongoing conversations about other financing opportunities, and ultimately, in this case, an equity investment,” the Blue Owl executive said of SpaceX.  A few minutes later, Blue Owl management noted that while

05-01

Bitcoin And XRP Are Seeing A Surge In Adoption, Here Are The Numbers

The latest holder data from Santiment shows that crypto adoption is still increasing, even as prices are without a clear bullish trend across the market. Bitcoin is approaching a major wallet milestone, XRP has continued to grow its user base, and Ethereum is dominating the field by a wide margin.  Numbers Reveal A Surge In Adoption  New figures from on-chain analytics platform Santiment show that cryptocurrencies are witnessing intense adoption across the board. This data is particularly gotten from the holder count from Santiment, which looks at the number of addresses with non-empty balances. Of the bunch, Bitcoin, XRP, and Ethereum are posting numbers that are noteworthy.  Bitcoin‘s holder count is now one of the clearest signs of adoption across the crypto industry. Santiment’s latest data shows Bitcoin is currently at about 59.08 million non-empty wallets, bringing the network close to the 60 million mark. This means Bitcoin has built one of the largest ownership bases in crypto despite several months of difficult price action and correction from its 2025 price peak.  The timing of Bitcoins wallet growth is important because it is coming at the same time institutional demand is starting to improve again. Data from SoSoValue shows that Spot Bitcoin ETF flows

05-01

Carvana (CVNA) Stock Drops 3% After First Quarter Earnings Despite Revenue Surge

Retail unit volume totaled 187,393 vehicles in the quarter — representing 40% growth versus the prior year and exceeding the Streets call for 181,839 units.  Shares initially popped more than 6% in premarket activity Wednesday evening, but the enthusiasm proved short-lived. By Thursday morning, CVNA was changing hands around $387, reflecting a roughly 3% decline.  Profitability Metrics Draw Investor Attention  While headline numbers impressed, per-unit economics raised concerns among market participants. The adjusted EBITDA margin registered 10.4%, sliding from the 11.5% achieved a year earlier.  Gross profit per vehicle came in at $6,783 — marginally below Street forecasts and down $155 from the $6,938 figure in Q1 2025.  Elevated reconditioning expenses represented the primary headwind. Reduced shipping revenue combined with softer wholesale profit margins further pressured unit-level profitability.  Wells Fargos David Lantz recognized the margin headwinds while maintaining a balanced perspective, highlighting that the company is “making progress on centralizing planning and decision-making, building better tools, leveraging AI and strengthening training and workforce development.”  Carvana disclosed that it has deployed AI-powered internal platforms and enhanced employee training initiatives to address reconditioning cost challenges. “So far in Q2, we are beginning to see the impact of these efforts,” management stated.  Forward Outlook  Looking to the second quarter, Carvana projected sequential

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