Microsoft, benefiting from its partnership with OpenAI, faces challenges in Azure revenue growth due to industry-wide capacity constraints. UBS analyst Karl Keirstead maintains a Buy rating, raising the price target to $525, suggesting potential for new highs in 2025 as supply issues ease and AI demand increases. The stock holds a Strong Buy consensus with 27 Buys and 2 Holds among recent analyst reviews.
Stock futures rose slightly as the market prepares for a holiday-shortened week, with the Dow gaining about 100 points and the S&P 500 and Nasdaq 100 also seeing increases. Despite a challenging December, historical trends suggest a potential Santa Claus rally could boost year-end performance, particularly in presidential election years. The market is coming off a tumultuous period, including a significant drop in the Dow, but optimism remains as trading volumes are expected to be low.
Large holders have accumulated 160 million Cardano (ADA) tokens after a drop to $0.91, indicating renewed confidence in the asset. Analysts view the recent 40% correction as a prime entry point, with predictions suggesting a potential rise to $1.2 in one month and $2.27 in three months. However, user engagement on the Cardano blockchain has significantly declined, raising concerns amid ongoing strategic developments by Input Output Global.
President-elect Donald Trump has appointed Bo Hines as the Executive Director of the Presidential Council of Advisers for Digital Assets, where he will collaborate with David Sacks to promote innovation in the crypto industry. Hines, a former Republican House nominee, expressed his gratitude for the opportunity and commitment to advancing digital assets as a key component of technological progress in the nation.Additionally, Trump has selected Paul Atkins, a former SEC commissioner, to lead the regulatory agency, positioning him as a crypto-friendly alternative to current Chair Gary Gensler. Alongside Hines, Sriram Krishnan has been named Senior Policy Advisor for Artificial Intelligence at the White House Office of Science and Technology Policy.
Asian stocks rebounded as muted US inflation reignited Federal Reserve rate cut bets, with the MSCI Asia Pacific Index ending a six-day decline. US equity contracts rose following a 1.1% increase in the S&P 500 Index, while the dollar stabilized after a recent drop. In China, semiconductor stocks gained as Premier Li Qiang emphasized innovation and infrastructure development, suggesting potential upside from policy easing despite concerns over US tariffs.
Asian stocks are poised for cautious gains in thin holiday trading, following a positive shift in US economic indicators. The Federal Reserve's preferred inflation gauge fell below expectations, and a government shutdown was averted, boosting market sentiment. Early trading saw Australian shares rise, while futures in Japan and Hong Kong also pointed to gains, despite a slight easing in mainland China contracts.
Elon Musk recently shared a photo on X, previously known as Twitter, featuring the phrase 'Department of Government Efficiency (DOGE)' alongside the Shiba Inu symbol of Dogecoin. Despite his continued mentions of DOGE, there has been no significant impact on its price, which currently stands at $0.3119, reflecting a decline of 0.46% in the last hour and 1.96% over the previous day.
Ripple's recent RLUSD launch has ignited speculation of a significant XRP price surge, with predictions of a potential rise to $8. Meanwhile, the emerging token DOGEN is generating buzz for its bold vision and anticipated 700% growth during the altcoin season, appealing to those seeking luxury and success in the crypto market. With a strong community backing and referral incentives, DOGEN aims to dominate as a leading meme token.
Securitize has proposed using the BlackRock BUIDL fund as collateral for the Frax USD stablecoin, aiming to enhance yield opportunities and liquidity while minimizing counter-party risk. This proposal awaits community approval, as tokenized real-world assets gain traction in stablecoin backing. Additionally, BlackRock is pursuing BUIDL's integration as collateral on crypto derivatives exchanges, potentially challenging established stablecoin providers.
Mohammed Azharuddin Chhipa, 35, from Springfield, Virginia, was convicted for providing material support to ISIS, including raising over $185,000 in cryptocurrency to assist female members and fighters in Syria. His actions involved financing escapes from prison camps and collaborating with a British-born ISIS member. Chhipa faces a maximum sentence of 20 years, with sentencing scheduled for May 5, 2025.

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