Treasury Secretary Scott Bessent confronted Commerce Secretary Howard Lutnick last week about why the administration had not put restrictions on advanced chip sales to Megaspeed.
US Treasury Secretary Scott Bessent, speaking in New York at the National Committee on United States-China Relations, said that the aim of the US is to de-risk, not de-couple from China. Bessent added that the US is working to establish a "direct channel" that will allow both nations to alert the other to incidents involving their “super intelligence” — or AI — models. (Source: Bloomberg)
Leaked bondage photos sparked a fundraising surge for Democrat Chris Gallant. Fortune's review of FEC filings found most of it came from Manhattan, California and the Hamptons.
Investors had been selling off tech shares in part due to concerns the Democrat election victory would mean slower AI development.
Trump called affordability a ‘fake word.’ Scott Colom’s ad turned her ‘so many proteins’ line into the race’s defining moment.
South Korean chip stocks plummeted in pre-market trading, auguring a painful day for the region as fears deepened over how the Democrat sweep of Congress could slow AI infrastructure expansion.
The Twitch streamer is seeking $72.5 million from CNN’s Scott Jennings over a spliced clip. His lawyer says Ted Cruz and others should “buckle up.”
In the 1980s, a Republican president, a Democrat Speaker of the House and an inflation-fighting Federal Reserve chairman powered a stock-market rally.
The Michigan Democrat co-wrote a 2021 guide to single-payer that would fold Medicare, Medicaid, and ACA subsidies into one fund, with new taxes on the wealthy to cover the rest.
Three Democratic governors elected Tuesday have promised to reexamine data center expansion.
The shares of US technology giants led the market higher on Wednesday as investors bet that a Democrat-controlled Congress will slow the massive spending on artificial intelligence that’s eating up free cash flow.
US stocks are primed for a year-end rebound as the midterm election removes a source of uncertainty, corporate earnings remain resilient and lackluster investor positioning leaves room for renewed buying, according to Citadel Securities’ Scott Rubner.
Ukraine’s dollar bonds jumped on a bet that a landslide victory by Democrats in US midterm elections will improve relations between Kyiv and Washington, helping the war-torn nation’s defense efforts.
Democrats’ capture of Congress raise expectations of tougher regulation of AI sector; US stock futures turn positive, reversing earlier declines And Chris Turner , global head of markets at ING, says: Investors will be parsing what this all means. For example, Gina Hinojosa won the Texas governor’s race on a ticket of wanting an immediate moratorium on data centre buildouts. Given AI’s role in powering the US economy, speculation over whether a new Democrat Congress would slow AI capital expenditure plans briefly hit markets. The chip exporter-heavy stock markets of Korea and Taiwan were briefly down 3-4% overnight on news of the blue wave, but have since recouped all those losses. For bond investors, the significance of the midterms is ultimately about what they mean for US borrowing. The result makes further significant fiscal expansion harder to deliver through Congress, potentially easing some of the pressure around government borrowing and Treasury issuance. That could be supportive for US Treasuries, but it won’t determine the direction of yields on its own. Growth, inflation and the Federal Reserve remain crucial. If the economy slows and inflation continues to ease, there is a stronger case for Treasury yields to move lower. Bonds are coming out as the clear winner as markets put the AI trade on the chopping block and embrace the higher possibility that further tax cuts are put on ice and government spending slows. Continue reading...
The four largest gifts to democracy programs from 2021 to 2025 created or expanded university institutes named for Leonard Schaeffer, the Rooneys, the Karshes, and the Kinders, according to the Chronicle of Philanthropy.
European stock index futures fell as Democrats won control of both chambers of Congress in the US midterms, a potential setback for stocks given the prospect of tighter regulatory scrutiny, particularly of technology and artificial intelligence companies.
Voters named the cost of living a top issue. In Ohio, the Democrat who ran on grocery, gas and electric bills beat Trump’s Senate pick.
Talarico is the first Democrat to win a Senate race in Texas since 1988, carrying suburban counties Trump won two years ago.
Treasuries rallied ahead of the Treasury’s quarterly issuance plans, with traders reacting to the first vote counts from the midterm elections which favored the Democrats.
JPMorgan Asset Management’s Bob Michele has some advice for Treasury Secretary Scott Bessent: get rid of the 20-year bond.
House lawmakers say they’ll probe the president’s moves to buy out wind leases, exempt oil drillers from environmental laws and hollow out key government agencies.
"Bloomberg ETF IQ" focuses on the opportunities, risks and current trends tied to the trillions of dollars in the global exchange traded funds industry. Today's guests: Active Investment Company Alliance Founder & Executive Chair John Cole Scott, Tema ETFs Head of Investment Strategy Paisley Nardini, Subversive ETFs Portfolio Manager Dan Weiskopf, and National Banks of Canada Capital Markets Linda Ma. (Source: Bloomberg)
John Cole Scott, president and & CIO of CEF Advisors, joins Scarlet Fu and Eric Balchunas on "Bloomberg ETF IQ." Anthropic filed on Oct. 26 for an IPO that’s set to take place before Thanksgiving. Anthropic is seeking to meet or exceed the amount SpaceX raised in its $86.2 billion debut, people familiar with the matter have said. (Source: Bloomberg)
After Treasury Secretary Scott Bessent surprised dealers with his willingness to intervene in the bond market to drive down yields in recent months, Wall Street is now girding for the biggest revamp in guidance for US Treasuries issuance since early 2024.
“When money is psychologically tainted, we often avoid it,” University of Michigan professor Scott Rick told Fortune.
For the first time this year, low-income consumers during the quarter outperformed the high-income cohort at its restaurants, CEO Scott Boatwright said.
The progressive pundit claims the conservative commentator deliberately distorted his remarks to falsely portray him as a supporter of lynching Black people.
