2024-04-18 21:12
Nashville, Tennessee, April 18 (Reuters) - Chinese government-linked hackers have burrowed into U.S. critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI Director Christopher Wray said on Thursday. An ongoing Chinese hacking campaign known as Volt Typhoon has successfully gained access to numerous American companies in telecommunications, energy, water and other critical sectors, with 23 pipeline operators targeted, Wray said in a speech at Vanderbilt University. China is developing the "ability to physically wreak havoc on our critical infrastructure at a time of its choosing," Wray said at the 2024 Vanderbilt Summit on Modern Conflict and Emerging Threats. "Its plan is to land low blows against civilian infrastructure to try to induce panic." Wray said it was difficult to determine the intent of this cyber pre-positioning which was aligned with China's broader intent to deter the U.S. from defending Taiwan. China claims democratically governed Taiwan as its own territory and has never renounced the use of force to bring the island under its control. Taiwan strongly objects to China's sovereignty claims and says only the island's people can decide their future. Earlier this week, a Chinese Ministry of Foreign Affairs spokesperson said New Tab, opens new tab Volt Typhoon was in fact unrelated to China's government, but is part of a criminal ransomware group. In a statement, China's Embassy in Washington referred back to the MFA spokesperson's comment. "Some in the US have been using origin-tracing of cyberattacks as a tool to hit and frame China, claiming the US to be the victim while it's the other way round, and politicizing cybersecurity issues." Wray said China's hackers operated a series of botnets - constellations of compromised personal computers and servers around the globe - to conceal their malicious cyber activities. Private sector American technology and cybersecurity companies previously attributed Volt Typhoon to China, including reports by security researchers with Microsoft and Google. Get weekly news and analysis on the U.S. elections and how it matters to the world with the newsletter On the Campaign Trail. Sign up here. https://www.reuters.com/technology/cybersecurity/fbi-says-chinese-hackers-preparing-attack-us-infrastructure-2024-04-18/
2024-04-18 21:05
Fed officials signal pause on rate cuts Initial jobless claims unchanged from prior week Meta climbs on Bernstein price target boost Indexes: Dow up 0.06%, S&P 500 off 0.22%, Nasdaq down 0.52% NEW YORK, April 18 (Reuters) - U.S. stocks closed near the unchanged mark on Thursday, as investors sifted through the latest corporate earnings, while economic data and comments from Federal Reserve officials suggested the central bank was unlikely to cut interest rates in the near future. Economic data showed that the labor market remained resilient, as weekly initial unemployment claims were unchanged from the prior week at 212,000 while a gauge of manufacturing in the mid-Atlantic region rose to a two-year high. The solid labor market, recent reading showing sticky inflation, and comments from Fed officials, including Chair Jerome Powell, have led markets to back off expectations the central bank would cut interest rates by at least 25 basis points (bps) at its June meeting. "I wouldn't be surprised if we go through a fall or spring where it's an air pocket for a while," said Richard Alt, Principal and CEO at Carnegie Investment Counsel in Cleveland, Ohio, referring to a drop in stock prices. "But the numbers are going to come in with unemployment low and 70% of this economy consumer spending, if unemployment continues to be low consumers will continue to spend, they'll continue to travel, they'll continue to demand services and that's going to drive earnings and prices up towards the end of the year." According to preliminary data, the S&P 500 (.SPX) New Tab, opens new tab lost 12.02 points, or 0.24%, to end at 5,010.19 points, while the Nasdaq Composite (.IXIC) New Tab, opens new tab lost 82.35 points, or 0.52%, to 15,601.02. The Dow Jones Industrial Average (.DJI) New Tab, opens new tab rose 23.87 points, or 0.06%, to 37,777.18. The S&P 500 saw its fifth straight session of declines, as equities have struggled recently following a five-month rally that started in November, in part due to expectations the Fed was likely to cut interest rates in the first half of the year. The five-session run of declines marks the longest for the benchmark S&P index since October. After the closing bell, Netflix (NFLX.O) New Tab, opens new tab fell about 4% in extended trade after posting its quarterly results. Comments on Thursday from Fed officials reiterated the lack of urgency to lower rates, as New York Federal Reserve President John Williams cited the robust economy while Atlanta Federal Reserve President Raphael Bostic said he is "comfortable being patient" as inflation is returning to the Fed's 2% target more slowly than expected. Market expectations for a rate cut of at least 25 bps in June have shrunk to 15.2%, according to CME's FedWatch Tool New Tab, opens new tab, with July standing at 41.5%. down from 48.4% a week ago. On the plus side, stock Meta Platforms (META.O) New Tab, opens new tab rose 1.54% as the biggest boost to the S&P 500 after Bernstein raised its price target to $590 from $535. Earnings season continued to pick up steam with Genuine Parts (GPC.N) New Tab, opens new tab surging 11.22% as the top percentage gainer on the S&P, after the automotive parts distributor raised its 2024 profit forecast. In contrast, Las Vegas Sands (LVS.N) New Tab, opens new tab dropped 8.66% as the worst S&P performer despite beating quarterly expectations, as multiple brokerages cut their price target on the stock, citing weakness in its Macau operations. Equifax (EFX.N) New Tab, opens new tab also tumbled, down 8.49% after the credit ratings firm forecast its second-quarter revenue below estimates. On the NYSE declining issues outnumbered advancing ones by a 1.2-to-1 ratio and by a 1.18-to-1 ratio on the Nasdaq. The NYSE saw 34 new highs and 95 new lows while the Nasdaq had 24 new highs and 238 new lows. Volume on U.S. exchanges was 10.54 billion shares, compared with the 10.99 billion average for the full session over the last 20 trading days. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. https://www.reuters.com/markets/us/futures-rise-chip-stocks-bounce-back-after-sell-off-2024-04-18/
2024-04-18 21:01
April 18 (Reuters) - The U.N.'s nuclear watchdog said on Thursday that officials at Ukraine's Russian-held Zaporizhzhia nuclear power plant had reported a new attempted drone attack on the facility's training centre -- less than two weeks after other similar incidents. Russia-installed officials at the plant, the largest nuclear facility in Europe, said Ukraine was behind the latest incident. Russian forces occupied the plant in the first weeks of the February 2022 invasion of Ukraine and each side has since repeatedly accused the other of attacking the plant. Rafael Grossi, director general of the International Atomic Energy Agency (IAEA), has warned that attacks and incidents at the plant are "reckless" and could trigger a major nuclear accident. Grossi said the latest incident had caused no damage or injuries. The IAEA's monitors stationed at the power plant, he said in a statement, had heard an explosion at the same time as the Russia-installed team reported an attempted Ukrainian drone attack. "If confirmed, it would be an extremely worrying development," Grossi said. "Whoever is behind these incidents, they appear to be ignoring the international community's repeated calls for maximum military restraint to avert the very real threat of a serious nuclear accident." Grossi said IAEA monitors were denied access on security grounds to a training centre where the incident was said to have occurred. There was no immediate comment on the latest reports from Ukrainian officials. Kyiv has denied any connection with previous incidents and suggested the Russians may have staged them. Russia-installed officials at the plant said the drone had been destroyed above the roof of the building. They added there had been no damage and that nobody had been injured. Grossi addressed meetings of the IAEA board and the U.N. Security Council this month in connection with a series of incidents over three days, including what Russian officials described as an April 8 attack on the training centre Coming soon: Get the latest news and expert analysis about the state of the global economy with Reuters Econ World. Sign up here. https://www.reuters.com/world/europe/iaea-notes-reported-attack-zaporizhzhia-plant-russia-accuses-ukraine-2024-04-18/
2024-04-18 20:56
April 18 (Reuters) - European Central Bank Governing Council member Boris Vujcic on Thursday said foreign exchange markets have so far been very calm about the risk of a policy divergence between the U.S. Federal Reserve and ECB. Vujcic's remarks in an interview with Reuters are the latest from officials gathered at the International Monetary Fund and World Bank spring meetings that address concerns the Fed is unlikely to lower interest rates soon even as the ECB and other central banks signal plans to move ahead with policy easing. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here. https://www.reuters.com/markets/europe/ecbs-vujcic-fx-market-so-far-very-calm-about-risk-fed-ecb-divergence-2024-04-18/
2024-04-18 20:53
NEW YORK, April 18 (Reuters) - The U.S. Environmental Protection Agency will announce by Friday plans to temporarily expand sales of higher-ethanol blends of gasoline this summer, a win for the corn ethanol industry that will likely see demand increase, three sources familiar with the matter said. The measure would lengthen the period during which Americans can keep buying E15, a gasoline that uses a 15% ethanol blend, from June 1 to Sept. 15. Adding ethanol to gasoline is known to increase smog pollution in hot weather, but research has shown little difference between E15 and the more-widely available E10 blends. The EPA did not respond to a request for comment. The announcement comes after a push from lawmakers, including Senator John Thune, a Republican from South Dakota, and Senator Dick Durbin, a Democrat from Illinois, who argued in a letter to President Joe Biden that allowing the expanded sales of E15 would increase energy security during unrest in Ukraine and the Middle East. Biden's administration has allowed temporary summertime sales of E15 the last few years in an effort to keep down gasoline prices. Those decisions were cheered by the Farm Belt, an important constituency ahead of this year's presidential election. The Corn Lobby has long tried to expand year-round sales of E15, an effort that culminated in February, when the administration approved a request from Midwestern governors that would allow summertime sales of E15 in their states, starting in 2025. The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here. https://www.reuters.com/business/energy/us-epa-announce-temporary-expanded-sales-higher-ethanol-gasoline-blend-sources-2024-04-18/
2024-04-18 20:46
TSX ends up 0.2% at 21,708.44 Mining shares lead gains as gold and copper rise Utilities sector adds 1.1%, financials gain 0.3% Energy falls 0.5% as oil holds near three-week low April 18 (Reuters) - Canada's main stock index ended higher on Thursday as higher metal prices boosted the materials sector, but the market's gains were held in check as investors worried that interest rate cuts could be delayed. The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) New Tab, opens new tab ended up 52.39 points, or 0.2%, at 21,708.44, while the S&P 500 closed lower for a fifth straight session. The decline for the U.S. benchmark stock index came as economic data and comments from Federal Reserve officials suggested the central bank was unlikely to cut interest rates in the near future. "It is continuing to look like a higher rates for longer situation and it might not be until next year that we start to see rates come down," said Graham Priest, investment advisor at BlueShore Financial. The TSX snapped its own recent losing streak on Wednesday but gains were capped by the Canadian government's planned tax increase on investment profits. Canada's plan to raise taxes on the savings of wealthy people and corporations is likely to hold back investment, potentially adding to the productivity malaise that has held back economic growth in recent years, say economists. The materials sector (.GSPTTMT) New Tab, opens new tab, which includes metal miners and fertilizer companies, climbed 1.2% as gold and copper prices rose, with shares of First Quantum Minerals Ltd (FM.TO) New Tab, opens new tab ending 8.9% higher. The utilities group (.GSPTTUT) New Tab, opens new tab was another bright spot, adding 1.1%, and heavily-weighted financials (.SPTTFS) New Tab, opens new tab were up 0.3%. Energy (.SPTTEN) New Tab, opens new tab was a drag, falling 0.5%, as the price of oil held near its lowest level in three weeks. U.S. crude oil futures settled 4 cents higher at $82.73 a barrel. Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here. https://www.reuters.com/markets/tsx-set-muted-start-falling-oil-counters-gold-gains-2024-04-18/
