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  • Sep 06, 2024

Nvidia’s $406 Billion Drop This Week Makes Bitcoin Look Calm

(Bloomberg) -- Nvidia Corp. wiped out about $406 billion in value this week, weighing on key equity benchmarks as jitters spread over the health of the US economy and an AI trade that may have gotten ahead of itself.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Chargin

  • Sep 06, 2024

Hedge Funds Slash Bets on an Oil Rally to Lowest Ever Amid Rout

(Bloomberg) -- Hedge funds turned the least bullish on crude in records going back more than 13 years on the prospect of swelling supplies and waning demand.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainMoney managers decreased their

  • Sep 06, 2024

Newest Jobs Data Fail to Resolve Fed Debate Over September Cut

(Bloomberg) -- The latest snapshot of the US labor market left open the possibility the Federal Reserve will go big as it begins cutting interest rates, though two key officials on Friday stopped short of endorsing such a move at their meeting this month.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItHow Americans Voted Their Way Into a Housing CrisisThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Bui

  • Sep 06, 2024

France’s Barnier Indicates Tweaks to Macron’s Economic Policies

(Bloomberg) -- France’s newly appointed prime minister, Michel Barnier, indicated he’s willing to make minor changes to President Emmanuel Macron’s economic policies that don’t compromise efforts to curb rising public debt.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusHow Americans Voted Their Way Into a Housing CrisisRome May Start

  • Sep 06, 2024

US Gulf Coast-bound fuel oil cargoes hit 5-yr low as refinery demand weakens

Fuel oil exports bound for the U.S. Gulf Coast slumped to their lowest level since January 2019 last month, a sign of weakened refinery demand as margins have softened, analysts said. Feedstocks like high sulfur fuel oil and other heavy residues can be refined into higher value products such as gasoline and diesel using secondary units. But loadings of those products to the Gulf Coast, America's largest refining hub, fell by a third in August from the prior month to 260,000 barrels per day (bpd), according to data from ship tracker Kpler, marking a more than five-year low.

  • Sep 06, 2024

Coinbase Upgraded As Both Presidential Candidates Show Crypto Support; Analyst Sees Resilience Amid Regulatory Changes

Barclays analyst Benjamin Budish upgraded Coinbase Global, Inc. (NASDAQ:COIN) from Underweight to Equal-Weight, lowering the price forecast from $206 to $169. The analyst notes that the regulatory landscape is improving, with presidential candidates showing greater support for crypto and the approval of several spot crypto ETFs. This favorable environment has helped Coinbase’s revenues remain resilient. The analyst acknowledges ongoing risks for Coinbase, such as fee compression in retail and pr

  • Sep 06, 2024

MicroStrategy Poised for Growth With Strong Bitcoin Exposure and Software Expansion: Analyst

Barclays analyst Ramsey El-Assal initiated coverage on MicroStrategy Inc (NASDAQ:MSTR) with an Overweight rating and a price target of $146. El-Assal flagged the company’s unique differentiated vehicle that allows public company investors to gain exposure to bitcoin, resilient capital deployment model offering a long runway for continued bitcoin accumulation and protection from black swan liquidity events, software performance backed by a fast-growing TAM and demand for next-gen technology, the

  • Sep 06, 2024

Escaping the Casino: How Tokenized Assets Will Save DeFi From Itself

Vitalik Buterin is right: DeFi today is a circular speculative economy. The bigger opportunity lies in bringing traditional capital markets on-chain, so that crypto reaches the mainstream, says Zach Rynes (aka ChainLinkGod), who serves as a Chainlink Community Liaison.

  • Sep 06, 2024

Summers Says Jobs Weakness Makes It Closer Call on Fed Going 50

(Bloomberg) -- Former Treasury Secretary Lawrence Summers said that while the August employment report wasn’t particularly poor, it did make predicting the size of the Federal Reserve’s likely interest-rate cut this month a tougher call.Most Read from BloombergWorld's Second Tallest Tower Spurs Debate About Who Needs ItThe Plan for the World’s Most Ambitious Skyscraper RenovationUC Berkeley Gives Transfer Students a Purpose-Built Home on CampusRome May Start Charging Entry to the Trevi FountainM

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