On The Wire: Today's Top Stories In Finance & Tech

Your daily briefing of some of the most important stories from the crypto, finance, and tech space.

The daily news roundup from REX Wire

Welcome to your daily briefing, where we bring you stories from the forefront of finance, technology, and market analysis, sent directly to your inbox.

In today's roundup, we give our regular Monday market overview, and look at how the tech sector is powering US indices higher. Inflation remains a sticky and challenging problem, but US hedge funds are outperforming their Chinese rivals on their own soil. The German auto industry is struggling to adapt to the electric vehicle market, and Microsoft has been hit by an email breach carried out by Russian hackers.


January 22 REX Wire Market Outlook

Even as central banks warn that inflation may not yet be beaten, stock markets are putting in all-time highs. Bitcoin, meanwhile, is sinking towards the $40k support level.

January 22 REX Wire Market Outlook
Central banks are reminding markets that rates may not be cut for months yet.

Wall Street Reaches All-Time High Amidst Tech Sector Surge

The S&P 500 reached an all-time high of 4,839.81, surpassing its January 2022 record. This peak, largely driven by tech stocks, comes amidst a broader market slowdown and investor caution over Federal Reserve's interest rate policies and economic uncertainties, including persistent inflation and geopolitical tensions.

Wall Street Reaches All-Time High Amidst Tech Sector Surge
S&P 500 hits a new all-time high, driven by tech stocks amid a slow broader market and cautious investor sentiment.

German Car Suppliers Navigate EV Transition Challenges

German car suppliers struggle with the EV transition, leading to job losses and investment challenges. Firms like Vitesco and Schaeffler adapt to market changes, investing in both EV and combustion technologies, amidst growing competition from Asian rivals and a shift towards software-focused car models.

German Car Suppliers Navigate EV Transition Challenges
German automotive suppliers face challenges in transitioning to EVs, with job cuts and investment dilemmas amid a shifting market.

Microsoft Reports Email Breach By Russian Group Midnight Blizzard

Russian group Midnight Blizzard breached Microsoft's email accounts, including senior leaders, in November. Detected on January 12 and contained by January 13, the attack was not due to product vulnerabilities. Previously linked to 2020's SolarWinds hacks, Midnight Blizzard's actions have prompted Microsoft to enhance security.

Microsoft Reports Email Breach By Russian Group Midnight Blizzard
Russian hacking group Midnight Blizzard infiltrates Microsoft’s senior leaders’ emails, highlighting cybersecurity risks.

US Hedge Funds Outshine Local Rivals In China During 2023

In 2023, US hedge funds Bridgewater and Two Sigma outperformed Chinese peers in a challenging market. Bridgewater's assets quadrupled to RMB 40 billion, and Two Sigma nearly doubled its assets. While the CSI 300 index fell by 11.7%, these funds achieved returns over 10%, capitalizing on strategic investments like gold ETFs.

US Hedge Funds Outshine Local Rivals In China During 2023
In 2023, US hedge funds like Bridgewater and Two Sigma surpassed Chinese rivals in performance, thriving in a tough market.

Where Are All The Bitcoins?

A little over 10% of all BTC are now held in Treasury addresses: ETFs, public and private companies, and nation states. But that number has been rising fast recently, and it's likely to continue going up.

Where Are All The Bitcoins?
Holding of BTC in major treasuries are increasing sharply, and the trend may only be getting started.

Inflation Risks Persist Amid Companies' Reluctance To Roll Back Prices

US central bankers and officials express concern as companies maintain high prices post-pandemic, exacerbating inflation. Research shows 60% of companies plan price hikes this year. Retailers struggle to negotiate discounts, while consumers face persistent cost pressures, influencing economic policy decisions.

Inflation Risks Persist Amid Companies’ Reluctance To Roll Back Prices
US faces inflation challenges as companies resist lowering prices to pre-pandemic levels, impacting consumers.

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