A national bitcoin reserve would be ‘crazy,’ former Treasury Secretary Larry Summers says
Former US Treasury Secretary has long warned about high inflation and slowing growth. Former Treasury Secretary Larry Summers is no fan of creating a “national bitcoin reserve” under Donald Trump. “There are probably respects in which crypto has been over-regulated by overzealous regulators,” he told Bloomberg TV. “But some of what is being said, this…
Stock market today: S&P 500 ends at record high as November jobs data fuels investor optimism
US stocks ended mixed on Friday, though the S&P 500 rose to fresh records as traders took in November jobs data and ramped up bets for another rate cut this month. Bond yields were lower, with the 10-year Treasury yield down three basis points to 4.151%. Employers added slightly more jobs than expected last month,…
AMD CEO Lisa Su says she never met her distant cousin Nvidia CEO Jensen Huang until later in their careers
Nvidia CEO Jensen Huang and AMD CEO Lisa Su are distant cousins, but the two never crossed paths at a family dinner, Su said. AMD CEO Lisa Su said in a recent interview that she never met Nvidia CEO Jensen Huang, her competitor and distant relative, until later in their careers. “We were really distant,…
Life inside Blackstone’s Miami office, from the daily meetings to the office croquetas
Julio Garcia When Julio Garcia was a business student at the University of Miami in 2017, Blackstone was not on his radar of prospective employers. It wasn’t for a lack of interest, Garcia says — rather, a lack of opportunity. A born-and-raised Miami native, Garcia was certain that he wanted to start and build his…
Point72 founder and NY Mets owner Steve Cohen says it takes the same commitment to be an elite investor as it does a pro athlete
Steve Cohen bought his childhood team, the New York Mets, in 2020. The employees of billionaire Steve Cohen’s two companies compete in different arenas but must share a similar mindset. The New York Mets, the Major League Baseball team Cohen has owned since 2020, play their games in front of tens of thousands of fans…
‘All the pieces are in place for this bull market to end’: A technical strategist who called the S&P 500’s surge to 6,000 warns that stocks are a negative catalyst away from a 20% drop
Back in February, Tyler Richey laid out an argument for why the S&P 500 could climb all the way to 6,000. Investor sentiment was bullish but not excessively so. The Dow Jones Transportation Index had surged into the green for the year alongside the S&P 500, a sign that the economy was in a good…
Insuring deliveries against porch pirates requires some surprisingly tricky math, but one founder says he’s figured it out
Following the largest day of online shopping ever on Cyber Monday, hundreds of millions of packages have by now reached doorsteps across the US. But an untold number of those deliveries have also likely found themselves snatched up by someone other than the person to whom they belong. Now, one startup is launching a service…
‘Selling $1 bills for $3’: Why bond buyers and equity investors can’t get enough of bitcoin-obsessed MicroStrategy
MicroStrategy’s Michael Saylor, left, helped spark bitcoin’s rise, and has benefited from it. One of the market’s hottest stocks is a 35-year-old software company valued at $91 billion, even though its core business generated just $116 million in revenue last quarter. Many who’ve invested in this firm may not know about its business intelligence product.…
Investors shouldn’t be terrified about tariffs in 2025, the top minds at $2.1 trillion BNY Wealth say
President-elect Donald Trump’s tariff policy could pay off, a strategy chief believes. A top strategist at $2.1 trillion BNY Wealth is pushing back against the widely held concern that tariffs will trouble the US economy in 2025. Sinead Colton Grant, who’s the chief investment officer at BNY Wealth, is once again upbeat about the US…
