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Bitcoin falls again, last down 4% ReutersBitcoin value tumbles almost 50% since record November CNNBitcoin, Ethereum, crypto prices fall amid market selloff, Fed digital currency report The Washington PostBitcoin slumps with stocks and is now down 50% from all time high MarketWatchEther, Solana, Memecoins Get Crushed in Crypto Market Rout Bloomberg
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 Google parent Alphabet Inc. filed a motion in federal court in New York Friday asking the court to dismiss Texas Attorney General Ken Paxton's antitrust lawsuit over Google's ad tech products. "This lawsuit has now been rewritten three times. With each version, AG Paxton follows the same pattern: make inaccurate and inflammatory allegations, publicize them widely, and repeat. This playbook may generate attention, but it doesn't make for a credible antitrust lawsuit," Google said in a blog post.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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President Joe Biden on Friday pressed lawmakers to pass what's known as the CHIPS Act, which would provide $52 billion to boost U.S. semiconductor production. Speaking at the White House alongside Intel CEO Pat Gelsinger, Biden hailed the company's plans to invest more than $20 billion to build the world's largest chip-manufacturing site in Ohio. Biden, however, said the U.S. produces barely 10% of computer chips and that Friday's announcement is "just the beginning."
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Shares of PPG Industries Inc. fell nearly 3% in the extended session Thursday after the paint and coatings maker reported fourth-quarter profit and sales above Wall Street expectations but said pandemic-related "disruptions" continue to impact production and sales, and it will increase prices to mitigate soaring costs. PPG said it earned $267 million, or $1.12 a share, in the quarter, compared with $272 million, or $1.14 a share, in the year-ago period. Adjusted for one-time items, PPG earned $1.26 a share. Sales rose 12% to $4.2 billion. Analysts polled by FactSet expected adjusted EPS of $1.18 on sales of $4 billion. "Looking ahead, while demand for PPG products remains strong, the heightened supply and COVID-related disruptions experienced in the fourth quarter are expected to continue in the first quarter of the year impacting our ability to manufacture and deliver product," the company said in a statement. "We expect raw-material costs to remain at an elevated level and we are experiencing additional inflation in other cost areas, including logistics and labor." PPG said it will raise prices in all business lines "to mitigate the incremental inflation, and we continue to aggressively manage all aspects of our cost structure, including actions to minimize the cost impacts of the current supply challenges." Shares of PPG ended the regular trading day down 1.2%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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JPMorgan and Citigroup slid after their earnings reports, weighing on the stock market.
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