Welcome to Markets Desk, your midday read on what's moving markets and money.
The Federal Reserve held its benchmark rate steady at three point seven five to four percent, but the decision carried a notably dovish tone that sent the dollar index down nearly a quarter of a percent on the session. Two dissenting votes from Governors Cook and Hammack, who favored a hike, underscore the divide inside the committee, though markets clearly read the overall outcome as leaning softer on future tightening.
Turning to crypto, Singapore police are investigating a hardware wallet scheme that cost local users two point seven million dollars. At least two cases were reported as early as September tenth, nearly a month before the broader incident surfaced publicly. The attack involved tampered Ledger devices, a reminder that physical supply chain integrity remains a serious vulnerability in digital asset security.
On the earnings front, Porch Group delivered a strong third quarter, posting consolidated revenue of one hundred forty three point nine million dollars, up thirteen percent year over year. Adjusted EBITDA excluding reciprocal more than doubled, growing one hundred sixteen percent to forty four point five million. The company also raised its full year guidance, signaling management confidence heading into the final stretch of two thousand twenty six.
That's the tape. Markets Desk, signing off the floor.
