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BNB Price Surge Leads Crypto Gains as Bitcoin Climbs

The BNB price surge on April 21, 2025, stole the spotlight as Binance Coin jumped over 3.2% to cross the $600 mark. This move came as Bitcoin soared past $87,000, reigniting investor interest in altcoins. The bullish wave didn’t stop with BNB—SOL and XRP also made strong moves, reflecting a positive trend across the cryptocurrency market.

BNB Price Surge Driven by Token Burn and Momentum

Fueling the BNB price surge was Binance’s recent $1 billion token burn, which reduced the circulating supply. Additionally, increased trading volumes and renewed faith in Binance’s ecosystem helped BNB regain upward momentum. Investors are optimistic that Binance’s expansion and focus on compliance could drive long-term growth.

SOL Rally and XRP Breakout Add to Market Optimism

Solana (SOL) saw a 10.2% rally, breaking above the $135 resistance level with strong volume and technical confirmation. XRP, on the other hand, climbed past $2.10, setting the stage for a potential breakout above $2.15. These moves indicate bullish setups that are gaining attention from both traders and long-term holders.

Bitcoin Reinforces Its Role as Digital Gold

Bitcoin’s rise above $87,000 reflects renewed demand for a digital safe-haven. With increasing global economic uncertainty and inflation concerns, many investors view Bitcoin as “digital gold.” This sentiment is spilling over into altcoins, triggering the current crypto rally.

Conclusion and Market Outlook

The BNB price surge highlights growing investor confidence in altcoins. Alongside Bitcoin’s strength, tokens like SOL and XRP are enjoying increased attention. If this trend continues, more gains could be ahead for altcoin markets. Investors should monitor resistance levels and trading volumes closely for signs of sustained momentum.

Source: Yahoo Finance

Related: Crypto Updates | Market Trends

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More than a third of the population of Tuvalu has applied to move to Australia, under a landmark visa scheme designed to help people escape rising sea levels.

The island nation – roughly halfway between Hawaii and Australia – is home to about 10,000 people, according to the latest government statistics, living across a clutch of tiny islets and atolls in the South Pacific.

With no part of its territory above six meters, it is one of the most at-risk places in the world to rising seas caused by climate change.

On June 16, Australia opened a roughly one-month application window for what it says is a one-of-a-kind visa offering necessitated by climate change. Under the new scheme, Australia will accept 280 visa winners from a random ballot between July and January 2026. The Tuvaluans will get permanent residency on arrival in Australia, with the right to work and access public healthcare and education.

“The opening of the Falepili Mobility Pathway delivers on our shared vision for mobility with dignity, by providing Tuvaluans the opportunity to live, study and work in Australia as climate impacts worsen,” Australian Foreign Minister Penny Wong said in a statement.

According to Tuvalu’s Prime Minister Feleti Teo, more than half of Tuvalu will be regularly inundated by tidal surges by 2050. By 2100, 90% of his nation will be regularly under water, he says.

Fongafale, the nation’s capital, is the largest and most populated islet in Tuvalu’s main atoll, Funafuti. It has a runway-like strip of land just 65 feet (20 meters) wide in some places.

“You can put yourself in my situation, as the prime minister of Tuvalu, contemplating development, contemplating services for the basic needs of our people, and at the same time being presented with a very confronting and disturbing forecast,” Teo told the United Nations Oceans Conference this month in Nice, France.

“Internal relocation in Tuvalu is not an option, we are totally flat,” the prime minister said on June 12. “There is no option to move inland or move to higher ground, because there is no higher ground.”

The visa scheme is part of a broader pact signed between Australia and Tuvalu in 2023, which binds Australia to defending Tuvalu both militarily and against rising seas.

Tuvalu, which claims 900,000 square kilometers of the South Pacific, is considered by Canberra as a crucial player in its ongoing struggle with China for regional influence.

Recognition is something Australia has said it will guarantee for Tuvalu, even if nobody can live there in the future. “The statehood and sovereignty of Tuvalu will continue, and the rights and duties inherent thereto will be maintained, notwithstanding the impact of climate change-related sea-level rise,” their treaty reads.

In 2022, at COP27 in Sharm El-Sheikh, Egypt, Tuvalu announced that it sought to become the first nation in the world to move entirely online. The government has since developed a plan to “digitally recreate its land, archive its rich history and culture and move all government functions into a digital space.” Australia now recognizes Tuvalu’s “digital sovereignty,” which the country hopes will allow it to “retain its identity and continue to function as a state, even after its physical land is gone.”

Australia’s Prime Minister Anthony Albanese said last year his country shared a vision for a “peaceful, stable, prosperous and unified region.”

“It shows our Pacific partners that they can rely on Australia as a trusted and genuine partner.”

Australia’s support for the Pacific island nation has stood in stark contrast in recent months to US President Donald Trump’s administration, which has imposed sweeping crackdowns on climate policies and immigration.

Tuvalu is among a group of 36 countries that the Trump administration is looking to add to the current travel ban list, according to the Associated Press.

The ban fully restricts entry of nationals from 12 countries: Afghanistan; Myanmar, also known as Burma; Chad; Republic of the Congo; Equatorial Guinea; Eritrea; Haiti; Iran; Libya; Somalia; Sudan; and Yemen. People from seven countries also face partial restrictions: Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan and Venezuela.

The 36 countries, including Tuvalu’s Pacific neighbors Tonga and Vanuatu, had been told to commit to improving vetting of travelers and take steps to address the status of their nationals who are in the United States illegally or face similar restrictions, the AP reported, citing a diplomatic cable sent by the State Department.

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A peace agreement brokered by the White House to stem the bloodshed in the eastern Democratic Republic of Congo (DRC), where a militia allegedly backed by Rwanda occupies vast swaths of land, will be signed in Washington D.C. on Friday by officials of the two African nations.

But many remain unconvinced that the accord – portrayed as a “wonderful treaty” by United States President Donald Trump – can end the complex and long-running conflict, while the militia itself has yet to commit to laying down its weapons.

Trump was upbeat about the prospects for peace when teams from Rwanda and the DRC initialed a draft agreement on June 18, while at the same time suggesting that he would not get credit for his role in ending this or other conflicts.

On June 20, he wrote on Truth Social: “This is a Great Day for Africa and, quite frankly, a Great Day for the World! I won’t get a Nobel Peace Prize for this.”

He added: “I won’t get a Nobel Peace Prize no matter what I do, including Russia/Ukraine, and Israel/Iran, whatever those outcomes may be, but the people know, and that’s all that matters to me!”

Trump touts himself as a “peacemaker” and has expanded his interest in global conflicts to the brutal war in the mineral-rich eastern DRC. His peace deal could also pave the way for America’s economic interests in the region, as it eyes access to the DRC’s critical minerals.

US Secretary of State Marco Rubio will preside over the signing of the peace agreement by DRC Foreign Minister Thérèse Kayikwamba Wagner and her Rwandan counterpart Olivier Nduhungirehe on Friday.

More than 7,000 people have been killed, and some one million others displaced since January, when the M23 militia waged a fresh offensive against the Congolese army, seizing control of the two largest cities in the country’s east.

There has been increasing reports of summary executions – even of children – in occupied areas, where aid groups say they are also witnessing an epidemic of rape and sexual violence.

A complex war

The crisis in the eastern DRC, which shares a border with Rwanda and harbors large deposits of minerals critical to the production of electronics, is a fusion of complex issues.

In that genocide, hundreds of thousands of Tutsis and moderate Hutus were killed by Hutu militias.

Rwanda criticizes the DRC, which faces problems with militia violence, for integrating a proscribed Hutu militia group into its army to fight against the mainly Tutsi M23.

M23, which first emerged in 2012, is one of the most prominent militias battling for control of the DRC’s mineral wealth. The rebel group also claims to defend the interests of the Tutsis and other Congolese minorities of Rwandan origin.

UN experts and much of the international community believe that Rwanda backs M23 and supports the rebels with troops, leaving the nation on the cusp of war with the DRC over this alleged territorial violation.

The Rwandan government has not acknowledged this claim but insists it protects itself against the Hutu militia operating in the DRC, which it describes as an “existential security threat to Rwanda.”

M23 occupies strategic mining towns in the DRC’s eastern provinces of North and South Kivu.

In a report in December, the UN Group of Experts on the DRC said they found evidence that minerals “were fraudulently exported to Rwanda” from the DRC “and mixed with Rwandan production.”

Rwandan President Paul Kagame drew outrage last year when he admitted in a public address that Rwanda was a transit point for minerals smuggled from the DRC but insisted his country was not stealing from its neighbor.

What’s contained in the US peace deal?

Washington’s peace accord contains provisions on “respect for territorial integrity and a prohibition of hostilities,” including “disengagement, disarmament, and conditional integration of non-state armed groups,” according to a joint statement issued by the US, Rwanda and the DRC on June 18.

Other points include “facilitation of the return of refugees and internally displaced persons, as well as humanitarian access” and the establishment of a “regional economic integration framework” that could attract significant US investments into Rwanda and the DRC.

Asked whether AFC would surrender its arms, Victor Tesongo, a spokesperson for the coalition, said it was “not there yet” and that it was waiting on developments in Doha. He did not confirm whether airports in the eastern DRC that had been shut by the rebels would reopen for aid supply.

Why US efforts may fail

Previous truce agreements have failed to bring lasting peace between M23 and the Congolese armed forces.

In April, the rebels jointly declared a truce after meeting with representatives of the DRC during negotiations led by Qatar. Fighting flared up days after.

Qatar has been facilitating talks after Angolan President João Lourenço quit his mediation role following months of inability to broker peace.

One of those root causes, he said, was the “unfair distribution” of the DRC’s mineral wealth, which he claimed, “benefits a small elite and foreign powers, while ordinary Congolese, especially in the east, suffer displacement and misery.”

The DRC is roughly the size of western Europe and is home to more than 100 million people. The Central African nation is also endowed with the world’s largest reserves of cobalt – used to produce batteries that power cell phones and electric vehicles – and coltan, which is refined into tantalum and has a variety of applications in phones and other devices.

However, according to the World Bank, “most people in DRC have not benefited from this wealth,” and the country ranks among the five poorest nations in the world.

Kubelwa said another trigger for the conflict in the DRC was the country’s “weak institutions” and “suppression of dissent.”

A fragile peace

The DRC foreign minister’s office said it would comment on the deal after the document is signed.

Congolese human rights activist and Nobel laureate Denis Mukwege has described the deal as “vague” and tilted in Rwanda’s favor.

After details of the draft agreement were announced last week, he posted a statement on X criticizing it for failing to recognize “Rwanda’s aggression against the DRC,” which he wrote, “suggests it (the peace accord) benefits the unsanctioned aggressor, who will thus see its past and present crimes whitewashed as ‘economic cooperation.’”

He added: “In its current state, the emerging agreement would amount to granting a reward for aggression, legitimizing the plundering of Congolese natural resources, and forcing the victim to alienate their national heritage by sacrificing justice in order to ensure a precarious and fragile peace.”

For Kubelwa, “a true and lasting solution must go beyond ceasefires and formal agreements. It must include genuine accountability, regional truth-telling, redistribution of national wealth, reform of governance, and a broad national dialogue that includes all Congolese voices not just elites or foreign allies.”

“Without this, peace remains a fragile illusion,” he said.

This post appeared first on cnn.com

Germany has charged a Syrian juvenile with supporting a foreign terrorist organization for helping to plan a foiled attack on a Taylor Swift concert in Vienna last year, the prosecutor general said in a statement on Friday.

Identified as Mohammad A, the suspect helped the would-be attacker by translating Arabic bomb-building instructions and putting him in contact with a member of the Islamic State militia online, according to the charges against him.

Police made multiple arrests over a suspected plot to attack a Taylor Swift concert in the Austrian capital’s Ernst Happel Stadium, prompting the cancellation of all three of her shows there in August last year.

“Mohammad A has adhered to the ideology of the terrorist organization Islamic State (IS) since April 2024 at the latest,” the statement said.

“Between mid-July and August 2024, he was in contact with a young Austrian who was planning a bomb attack on a concert by singer Taylor Swift in Vienna.”

Austria’s coalition government earlier this month agreed on a plan to enable police to monitor suspects’ secure messaging in order to thwart militant attacks, ending what security officials have said is a rare and dangerous blind spot for a European Union country.

This post appeared first on cnn.com

Oslo police on Friday announced charges against Marius Borg Høiby, the eldest son of Norway’s crown princess, on multiple counts including rape, sexual assault and bodily harm after a months-long investigation of a case that involved a “double-digit” number of alleged victims.

Høiby, the son of Crown Princess Mette-Marit and stepson of the heir to the throne, Crown Prince Haakon, has been under scrutiny since he was repeatedly arrested in 2024 amid allegations of rape and on preliminary charges of bodily harm and criminal damage.

Oslo Police Attorney Andreas Kruszewski said Høiby was cooperative during police questioning, which is now complete. Evidence in the case was drawn from sources including text-messages, witness testimonies and police searches, the police attorney said.

The charges included one case of rape involving intercourse and two cases of rape without intercourse, four cases of sexual assault and two cases of bodily harm, Kruszewksi said at a news conference.

“I cannot go into further detail about the number of victims in the case beyond confirming that it is a double-digit number,” he said.

Defense attorney Petar Sekulic, in an email to The Associated Press, said Høiby was “absolutely taking the accusations very seriously, but doesn’t acknowledge any wrongdoing in most of the cases — especially the cases regarding sexual abuse and violence.”

The royal palace did not immediately respond to an e-mailed request from the AP seeking comment. The palace was quoted by the Norwegian newswire NTB saying it would not comment while the case winds its way through the “normal procedures.”

The case was top news in Norway, where the royals are popular.

Høiby, 28, previously lived with the royal couple and their two children, Princess Ingrid Alexandra and Prince Sverre Magnus, but now lives in a separate house nearby, according to Sekulic.

Høiby remains free pending a possible trial and is entitled to a presumption of innocence until a court rules otherwise.

Once known affectionately as “Little Marius,” Høiby grew up in the public eye enjoying the same wealth and privilege as his royal siblings, although his biological father, Morton Borg, served time in prison for drugs and violent offenses. Høiby has acknowledged cocaine use and addiction.

Norway’s future queen made headlines in 2001 when she married Haakon because she was a single mother who had lived a freewheeling life with a companion who had been convicted on drug charges.

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Russia has amassed 110,000 troops in the vicinity of Pokrovsk as part of its efforts to take over the strategic eastern Ukrainian city, the Ukrainian military chief said Friday.

Oleksandr Syrskyi said on Friday that the area around Pokrovsk was the “hottest spot”along the 1,200-kilometre (745 miles) front line which runs across the east.

Russian forces have been trying to capture Pokrovsk for almost a year, staging one grinding offensive after another. But despite having a clear advantage in terms of the number of troops and weapons available, Moscow has failed to take over the city.

Pokrovsk is a strategic target for Moscow. Russian President Vladimir Putin has made it clear that his goal is to seize all of the eastern Ukrainian regions of Donetsk and Luhansk his forces partially occupy.

Kyiv and its allies accuse Russia’s President Vladimir Putin of stalling on peace efforts so that his forces can seize more Ukrainian territory.

Although not a major city, Pokrovsk sits on a key supply road and railroad that connect it with other military hubs in the area. Together with Kostiantynivka, Kramatorsk and Sloviansk, it forms the backbone of Ukrainian defenses in the part of Donetsk region that are still under Kyiv’s control.

Some 60,000 lived in Pokrovsk before the war, but the majority have left in the three years since Russia launched its full-scale invasion in February 2022.

Ukraine’s last operating coking coal mine was in Pokrovsk and many of its employees were staying in the area to keep it going. Once it was forced to shut down early this year, they too began to leave.

The Institute for the Study of War (ISW), a US-based conflict monitor, said late last year that Ukrainian defensive operations in Pokrovsk have forced Russia to abandon its original plan to take over Pokrovsk in a frontal assault.

The ISW said this was because Ukrainian troops began using drones as integral part of their defensive strategy, successfully integrating drone operators with their ground forces.

At the same time, Russia was unable to increase the number of troops in the area by much, because it was trying to contain the surprise incursion of Ukrainian troops into its own territory in the southern Kursk region.

Syrskyi told reporters last week that at one point, the Kursk operation pulled back nearly 63,000 Russian troops and some 7,000 North Korean troops.

“This allowed us to weaken the enemy’s pressure on the main fronts and regroup our troops. And the enemy’s capture of Pokrovsk, announced back in September 2024, has not yet taken place, thanks in part to our Kursk operation,” he said.

Instead of continuing to attacking the city directly, Russian troops then began encircling the city from south and northeast.

The ISW said in its most recent assessment on Friday that Russian forces were continuing assaults with small fireteams of one to two soldiers, sometimes on motorcycles, in all-terrain vehicles and buggies.

In a statement issued on Friday, Syrksky said Russia continued to try to break through to the administrative border of the Donetsk region.

“They want to do this not only to achieve some operational results, but primarily for demonstrative purposes. To achieve a psychological effect: to put the infamous ‘foot of the Russian soldier’ there, plant a flag and trumpet another pseudo-‘victory’,” he said.

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Bumble shares rallied more than 26% on Wednesday after the dating app company revealed in a securities filing that it intends to slash 30% of its workforce, or about 240 roles.

The layoffs will result in $13 million to $18 million in charges for the company hitting in the third and fourth quarters of this year. Management estimates that the reductions will help the company save $40 million annually.

A Bumble spokesperson said in a statement to CNBC that the layoffs were “not made lightly.”

“Our focus now is on moving forward in a way that strengthens our core business, continues to serve our members effectively, and positions us for future growth,” they wrote.

Bumble said the cuts are part of a reconfiguration of its “operating structure to optimize execution on its strategic priorities.” The company plans to invest savings into new product and technology development.

Shares of the dating app company have plunged since their debut on the public markets in 2021. Its market value has plummeted from $7.7 billion to about $538 million as of Tuesday’s close.

Founder Whitney Wolfe Herd, who stepped down as CEO at the beginning of 2024, returned to the role earlier this year.

Along with the job cuts, Bumble updated its previously announced forecast for the current quarter.

The company now expects revenue to range between $244 million and $249 million, and adjusted earnings before interest, taxes, depreciation and amortization between $88 million and $93 million.

That’s up from the $235 million to $243 million in revenue and $79 million to $84 million in adjusted EBITDA forecast with Bumble’s first-quarter results last month.

This post appeared first on NBC NEWS

The Tennis Channel is extending its deal with the Women’s Tennis Association that will see the cable TV network and streaming service continue to broadcast more than 2,000 matches each season.

While terms of the deal weren’t disclosed, Tennis Channel CEO Jeff Blackburn told CNBC in an interview there was a “pretty big step up in our payments” to the WTA for the U.S. media rights, which includes international tournaments and the WTA Finals event. The new agreement lasts through 2032.

“Our goal and mission is to just cover pro tennis and the game of tennis like no one else, every day, every hour, all year round. There’s no offseason,” Blackburn said. “WTA plays a huge role in that and it was a big priority for me to make sure that we renewed our relationship and extend it as long term as we were able.”

The exclusive rights renewal comes as the Tennis Channel is in the midst of a transition on several fronts.

Last year, longtime Tennis Channel CEO Ken Solomon was ousted from the company. Blackburn stepped into the role in early May, following a 24-year career at Amazon, where he helped to build out Prime Video and expand the streaming service into sports, among other businesses.

Meanwhile, Sinclair, the owner of broadcast stations as well as the Tennis Channel, had recently considered offloading the network, CNBC previously reported. The parent company, however, is no longer exploring a sale of the Tennis Channel, particularly since Blackburn has taken the helm, according to a person familiar with the matter who spoke on the condition of anonymity to discuss nonpublic details.

In the backdrop, the Tennis Channel, like its network peers, is contending with the continued loss of customers from the pay-TV bundle. While live sports garner the biggest audiences — and leagues have reaped huge rights payouts as a result — media companies are focused on growing the profitability of their streaming businesses.

In 2014 the 24/7 tennis network took its first step into streaming with Tennis Channel Plus, and later in 2022 introduced Tennis Channel 2, a free, ad-supported streaming channel. While Blackburn said Tennis Channel 2 has been successful and attracted a younger audience, he is focused on beefing up the Tennis Channel’s recently launched direct-to-consumer streaming app.

The app, which launched in November 2024, costs $9.99 a month or $109.99 annually and offers the same programming as the pay-TV network. Media companies are increasingly offering the same live sports featured on pay-TV networks on their counterpart streaming alternatives — most notably with the launch of Disney’s flagship ESPN app later this year.

“What’s important about the partnership is that they’re committing to doing more with us,” said Marina Storti, CEO of WTA Ventures, the commercial arm of the WTA. “They’re committed to that increased exposure across all of their platforms. They’re committed to ensuring this kind of equal exposure for women and men, where they have the rights. And they’re making a significant commitment. There is a substantial increase in the rights fees, which is a big milestone for us as part of our plan and commitment to growing.”

The Tennis Channel’s agreement with the WTA covers a large swath of the WTA’s tournaments outside of North America through the season-closing WTA Finals.

The audience for WTA events on the Tennis Channel has been growing, particularly among the younger demographic. Viewership among 18- to 34-year-olds on the Tennis Channel has grown annually for each of the past two years, according to a news release.

The deal comes as American female tennis players have shot to the top of global rankings and women’s sports in general have seen a rise in popularity and investment funding.

Already in 2025, two American women have won two of the top majors: Madison Keys took the Australian Open in January, and Coco Gauff was crowned the winner of the French Open in June. Gauff and Keys will be among the participants at Wimbledon, which kicks off on Monday.

“Tennis is really the only major sport where the men’s and women’s game is on equal footing, and that’s really important,” said Blackburn. “I think for tennis it makes it unique. The growth of women’s sports overall? Maybe basketball and soccer will get there, but I think tennis is way ahead in terms of providing that for the fan.”

The Tennis Channel 2 free streaming option has earmarked every Tuesday as “Women’s Day” — showing only women’s match coverage — and Blackburn highlighted the network’s roster of heavy-hitting female talent, including former players and Hall of Famers Martina Navratilova and Lindsay Davenport, among others.

The deal extension also builds on WTA Ventures’ recent efforts to grow its commercial revenue and build the profiles of its athletes.

In 2023 the WTA formed a strategic partnership with private equity firm CVC Capital Partners, which invested $150 million for a 20% stake in the newly created WTA Ventures. The entity was formed to focus on growing commercial revenue through sponsorships and media rights deals, with the goal of tripling its revenue by 2029.

In 2024 WTA Ventures said it expected to increase revenue by 24% in its first full year.

The media rights extension marks the first renegotiation with the Tennis Channel under the WTA Ventures framework. The WTA’s long-standing media rights deal with streaming service DAZN expires at the end of next year, and talks have begun for new deals that would begin in 2027, said Storti.

WTA Ventures said its global audience surpassed 1 billion viewers on broadcast and streaming last season, and Storti said the U.S. is among one of the WTA’s biggest growth markets, along with China and Poland.

“We are a completely mass-market product that attracts hundreds of millions of fans across the world, and I would say we deliver a product that stands kind of shoulder to shoulder with the men counterpart,” Storti said.

The WTA has also recently emphasized improvements for players.

This year it’s has announced a paid maternity leave funded by the Saudi Public Investment Fund, as well as a new policy allowing players to protect their rankings during fertility treatments

Still, tennis is not without its issues of disparity. While the U.S. Open awarded equal prize money to men and women beginning in 1973, it was decades ahead of Wimbledon and other majors. And while equal prize money is given at the majors level, there’s still a considerable pay gap at lower-level tournaments.

The sport also drew criticism around the 2025 French Open when the majority of prime-time slots went to men’s matches.

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The Federal Reserve on Wednesday proposed easing a key capital rule that banks say has limited their ability to operate, drawing dissent from at least two officials who say the move could undermine important safeguards.

Known as the enhanced supplementary leverage ratio, the measure regulates the quantity and quality of capital banks should be keeping on their balance sheets. The rule emanated from a post-financial crisis effort to ensure the stability of the nation’s largest banks.

However, in recent years as bank reserves have built and concerns have grown over Treasury market liquidity, Wall Street executives and Fed officials have pushed to roll back the requirements. The regulations targeted treat all capital the same.

“This stark increase in the amount of relatively safe and low-risk assets on bank balance sheets over the past decade or so has resulted in the leverage ratio becoming more binding,” Fed Chair Jerome Powell said in a statement. “Based on this experience, it is prudent for us to reconsider our original approach.”

The Fed board put the proposal open for a 60-day public comment window.

In its draft form, the measure would call for reducing the top-tier capital big banks must hold by 1.4%, or some $13 billion, for holding companies. Subsidiaries would see a larger drop, of $210 billion, which would still be held by the parent bank. The standard applies the same rules to so-called globally systemic important banks as well as their subsidiaries.

The rule would lower capital requirements to range of 3.5% to 4.5% from the current 5%, with subsidiaries put in the same range from a previous level of 6%.

Current Vice Chair for Supervision Michelle Bowman and Governor Christopher Waller released statements supporting the changes.

“The proposal will help to build resilience in U.S. Treasury markets, reducing the likelihood of market dysfunction and the need for the Federal Reserve to intervene in a future stress event,” Bowman stated. “We should be proactive in addressing the unintended consequences of bank regulation, including the bindingness of the eSLR, while ensuring the framework continues to promote safety, soundness, and financial stability.”

On the whole, the plan seeks to loosen up banks to take on more lower-risk inventory such as Treasurys, which are now treated essentially the same as high-yield bonds for capital purposes. Fed regulators essentially are looking for the capital requirements to serve as a safety net rather than a bind on activity.

However, Governors Adriana Kugler and Michael Barr, the former vice chair of supervision, said they would oppose the move.

“Even if some further Treasury market intermediation were to occur in normal times, this proposal is unlikely to help in times of stress,” Barr said in a separate statement. “In short, firms will likely use the proposal to distribute capital to shareholders and engage in the highest return activities available to them, rather than to meaningfully increase Treasury intermediation.”

The leverage ratio has come under criticism for essentially penalizing banks for holding Treasurys. Official documents released Wednesday say the new regulations align with so-called Basel standards, which set standards for banks globally.

This post appeared first on NBC NEWS

The S&P 500 ($SPX) just logged its second consecutive 1% gain on Tuesday. That’s three solid 1% advances so far in June. And with a few trading days remaining in the month, the index has recorded only one 1% decline so far.

A lot can still happen before the month ends, but, as it stands, June is looking a lot like May, which also saw three 1% gains and one 1% loss. Taken together, these months resemble May and June of last year, although back then the S&P 500 advanced 52 consecutive sessions without a single 1% decline.

What this means for you: After the volatility of March and April—and the sharp rebound in mid-April—there has been a notable shift toward a more consistent uptrend. We talk about this frequently, and it bears repeating: the characteristics of a steady uptrend are unmistakable. It’s the foundation of our analysis that shapes our market outlook.

FIGURE 1. THE NUMBER OF 1% MOVES IN THE S&P 500 IN 2024 AND 2025. June is looking similar to May, which also saw three 1% gains and one 1% loss. It’s echoing the behavior we saw in May and June of 2024.

It all starts with daily price action. Low two-way volatility has set the tone in recent weeks. If this type of month-to-month tempo in daily moves continues, the uptrend can persist. The opposite, of course, is also true.

Zooming In On the Short-Term Moves

Looking at the S&P 500’s recent price action on the short-term chart, the index is now approximately +3% from its recent low last Friday. If this multi-day bounce were to stop now, it would be among the smallest over the last nine months. Indeed, most didn’t get much further before the next bout of profit taking, but this shows how the staircase-like advance could continue.

In other words, if this cadence persists, the S&P 500 could meander through its former highs, i.e., we may not see a resounding breakout. The more boring a move through 6,147, the better.

FIGURE 2. TWO-HOUR CHART OF THE S&P 500. The staircase-like advance in $SPX could continue, and the index could tiptoe through previous highs.

Also, notice how the recent drawdown only pulled the 14-period relative strength index (RSI) on this two-hour chart marginally below the 50 level, which shows that the momentum shift was limited last week. It’s a reminder of how weak the bounce attempt was in March, which set the stage for the second down leg of that move. If the reverse is now true, then another up leg could be afoot soon.

NVDA Stock: A Daily Perspective

NVDA made a new all-time high on Wednesday, the first since January 7. Its participation since the April 7 low has been a major and necessary piece to the SMH, XLK, NDX, and SPX’s rallies, and the global equity market’s overall comeback. 

We last cited the stock on May 27 and May 29 (before and right after it reported earnings), noting the bull flag pattern. The flag has held throughout, and NVDA is now close to achieving that price target. So, what’s next?

FIGURE 3: DAILY CHART OF NVDA’S STOCK PRICE. After the bull flag pattern, NVDA is close to achieving its price target.

NVDA vs. 200-Day Moving Average

NVDA’s comeback has pulled the stock back above its 200-day moving average. We’ve shown this before as the stock was coming back. The last few times NVDA reclaimed the long-term line after spending a long time below it, the stock advanced higher for years.

FIGURE 4. DAILY CHART OF NVDA WITH 200-DAY MOVING AVERAGE. The last few times NVDA broke above its 200-day moving average after spending a long time below it, the stock advanced higher for years.

NVDA Stock: A Weekly Perspective

Even though NVDA made a marginal new high in early January, there was no follow-through. Thus, NVDA remains net flat since November 2024 and isn’t too far above its spike highs from last June either.

Altogether, the round trip can now be viewed as one big bullish pattern. We’ve seen similar formations play out three times since the October low. Once NVDA finally got through those volatile periods and broke out, those strong extensions that we all remember well ensued. Past performance is no guarantee of future returns, but patterns tend to repeat no matter the timeframe. So, we need to respect that the same kind of breakout could happen again with the stock is sitting at the same levels as it was eight months ago, but with strong market-wide demand at its back.

FIGURE 5. WEEKLY CHART OF NVDA. Could a breakout with strong market-wide demand occur?

NVDA – GoNoGo

NVDA’s weekly trend just flipped to positive on the GoNoGo chart, as well. As is clear, the last time this happened was in early 2023, the same time that the first bullish pattern on the preceding chart happened.

FIGURE 6. NVDA’S PRICE ACTION USING GONOGO CHART. The weekly trend just switched to positive. This happened in 2023, which is around the time the first bullish pattern occurred in the weekly chart in Figure 5.

NVDA Stock: A Monthly Perspective

Zooming way out, this also could be the fourth major breakout from a monthly perspective. The prior ones happened in 2015, 2020, and 2023.

FIGURE 7. MONTHLY CHART OF NVDA. There could be a fourth major breakout in NVDA’s stock price.

The Bottom Line

If you’re someone who likes to stay invested with an eye on the long-term, this is the kind of environment where patience pays off. The S&P 500 appears to be building strength, and NVDA is helping lead the charge.