• Dec 06, 2024

Hong Kong's crypto faithful see regulations as a strength, unsure of 'unpredictable' Trump

Hong Kong officials and industry insiders touted the city's cryptocurrency trials and regulatory stability as strengths for the market at the Belt and Road Forum on Thursday, as the crypto euphoria surrounding the re-election of Donald Trump to the US presidency pushed the price of bitcoin past US$100,000 this week. "Trump is unpredictable. He may change his mind tomorrow; you never know," said Joseph Chan - chair of the think tank Silk Road Economic Development Research Centre, one of the organ

• Dec 06, 2024

Stock market today: S&P 500 ends at record high as November jobs data fuels investor optimism

The jobs data for November was enough to bolster confidence in the economy while also raising investors' hopes for another rate cut this month.

• Dec 06, 2024

The Fed shouldn't cut rates as inflation is rising, markets are too frothy, JPMorgan Asset Management bond expert says

Traders see an 88% chance the Fed will cut rates another quarter-point in December, according to CME FedWatch.

• Dec 06, 2024

Nvidia could deliver a big surprise to Wall Street that would 'power up' its profitability, analyst says

Nvidia could roll out its Rubin GPU chip in the first half of 2026, which would be way ahead of schedule, an analyst at Melius Research wrote.

• Dec 06, 2024

Ex-PayPal COO David Sacks is Trump's new crypto and AI 'czar'

Incoming president Donald Trump has a new crypto and AI "czar": ex-PayPal COO David Sacks. "[Sacks] will work on a legal framework so the Crypto [sic] industry has the clarity it has been asking for, and can thrive in the US,” he wrote. In an interview with CNBC in 2017, Sacks said he believed that cryptocurrencies like bitcoin and ethereum fulfill the "original vision" of PayPal: creating a "database of money" in which payments never leave the system.

• Dec 06, 2024

Prospect Capital’s Private Credit Fund Cut to Junk by S&P

(Bloomberg) -- S&P Global Ratings lowered its rating on Prospect Capital Corp. to BB+, or one step into junk territory, citing losses and a deterioration in credit quality for the $7.6 billion private credit fund.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectCompared to peers, Prospect has received a higher proportio

• Dec 06, 2024

Vancouver Mayor Proposes Using Bitcoin in City Finances

(Bloomberg) -- Vancouver may try to integrate Bitcoin into city finances just as the digital token’s value is surging, a rally fueled by US President-elect Donald Trump’s support for crypto.Most Read from BloombergA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitCity council will consider a motion on Dec. 11 from Mayor Ken Sim titled “Preservi

• Dec 06, 2024

Trillion-Dollar Gap Shows Diverging Korea, Taiwan Stock Fortunes

(Bloomberg) -- As South Korea descends into political chaos, its equity market risks falling further behind major tech rival Taiwan, which is basking in the glory of the global artificial intelligence boom.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectA near 30% surge in Taiwan’s stock benchmark this year, set to be

• Dec 06, 2024

Super Micro Receives Extension From Nasdaq Until February

(Bloomberg) -- Super Micro Computer Inc. said Nasdaq Inc. has granted the company additional time to become compliant with listing rules, easing the near-term risk that the embattled server maker would be delisted.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectSuper Micro said it received a letter Friday from Nasdaq a

• Dec 06, 2024

Apollo and Workday to Join S&P 500 After Index Rebalancing

(Bloomberg) -- Apollo Global Management Inc. has been added to the S&P 500 index in the latest quarterly weighting change, joining alternative asset manager Blackstone Inc. on the world’s most-watched equity gauge. Workday Inc. has been included too.Most Read from BloombergNYC’s Run-Down Bus Terminal Gets Approval for $10 Billion RevampKansas City Looks Back on its Long, Costly Ride With MicrotransitA Chicago Skyscraper Cements the Legacy of a Visionary Postmodern ArchitectThe two companies will