Banks Brace for Profit Declines, Bitcoin Demand Soars While Inflation Persists and Luxury Falters
• Major U.S. banks like JPMorgan and Bank of America set to report Q4 earnings on Friday; expected decline in profits due to higher interest rates and regional bank collapses
• Demand for newly approved spot Bitcoin ETFs soars, with over $4 billion in trading volume on first day
• Burberry slashes full-year profit outlook for second time in 3 months, citing slowing luxury goods demand
• Oil prices jump over 3% after U.S. and Britain carry out airstrikes in Yemen following Iranian seizures of oil tankers
• U.S. inflation data showed headline rate accelerated in December but core inflation slowed slightly; Fed policymaker says more tightening needed before rate cuts