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Dow Rises, S&P 500 and Nasdaq Slip on Hot Inflation
Inflation data jolted Wall Street on May 12, sparking a tech sell‑off that pulled the S&P 500 and Nasdaq lower while the Dow climbed on defensive bets. The move interrupts a rally that had kept the S&
Stocks Slide on Hot CPI, Iran War Jitters
U.S. equities pulled back from record highs on Tuesday as an unexpectedly hot April inflation print—driven by the Iran war's closure of the Strait of Hormuz—undermined Federal Reserve rate-cut hopes a
S&P 500 Hits Record 7,400 Amid U.S.–Iran Conflict
The S&P 500 surged past 7,400, hitting an all‑time high even as the U.S.–Iran war drives oil above $120 a barrel and gas over $4.50 per gallon. Analysts say the market’s resilience stems from a U.S. e
A* Closes $450M Fund III to Back 30 Startups
Early‑stage venture firm A* closed its third fund at $450 million, targeting at least 30 startups with $3‑$5 million checks over the next two to three years. Led by serial entrepreneur Kevin Hartz and
CLARITY Act Gives CFTC Oversight, Adds Housing Pilot
The Senate’s CLARITY Act, aimed at overhauling crypto market oversight, now bundles an unrelated housing pilot and faces a split among lawmakers over ethics safeguards. While bipartisan leaders tout p
Kevin Warsh Confirmed to Fed Board, Faces Chair Vote
Kevin Warsh, a former Morgan Stanley banker with crypto investments, was confirmed to the Federal Reserve Board in a narrow 51‑45 vote, moving President Donald Trump’s pick one step closer to the chai
Senators Eye Trump as CLARITY Act Ethics Talks Falter
The Senate’s CLARITY Act, promoted as a Main Street safeguard and a crackdown on crypto fraud, is now tangled in ethics debates as lawmakers consider bringing former President Trump into the process.
Qualcomm Falls 13% as Chip Sector Pulls Back
After a record‑high AI‑driven rally lifted the semiconductor sector, chip makers slumped Tuesday as hotter‑than‑expected inflation data and rising oil prices from the Iran conflict pushed investors in
Qualcomm Falls 13%, Dragging Semiconductor & AI Stocks
Qualcomm’s shares tumbled 13%, pulling down semiconductor and AI stocks and signaling a broader pullback from the record AI‑driven rally. The tech rally also faltered as oil prices rose amid an Iran s
Bitcoin’s bull-bear cycle indicator turns green for first time since March 2023
CryptoQuant’s Bitcoin bull‑bear cycle indicator turned green for the first time since March 2023, hinting that the worst of the recent correction is over. Analysts warn the signal is only a regime‑shi
US Household Debt Hits Record Amid Rising Inflation
US household debt has surged to a historic peak as inflation continues to climb, tightening family budgets. While overall debt rises, credit‑card balances have slipped, and consumers are turning to a
Iran Conflict Drives U.S. Inflation to 3.8% in April
U.S. inflation surged to a three‑year high in April as the Iran‑Israel conflict choked the Strait of Hormuz, pushing Brent crude above $118 and driving gasoline to $4.50 a gallon. The CPI rose 3.8% ye
Bitcoin digests highest US CPI since 2023 as Fed rate hike woes return
After Iran‑related Strait closures had driven Bitcoin down to $76k, the cryptocurrency rebounded to near $81k as the U.S. CPI rose 3.8% YoY, driven by an 18% jump in energy prices tied to the US‑Iran
Exodus sells over 1,000 Bitcoin as Q1 loss widens to $32M
Exodus is feeling the heat: its stock fell nearly 9% after a Q1 loss of $32 million and a $87 million Bitcoin sell‑off of over 1,000 BTC. At the same time, the firm rolled out XO Cash, a Solana‑based
UK 30‑Year Yields Hit 1998 High as Starmer Uncertainty
UK long‑term borrowing costs have surged to their highest levels in nearly three decades as investors react to political uncertainty surrounding Labour leader Keir Starmer. Bloomberg, the New York Tim
Bitcoin may avoid historic bear market losses as ETF flows grow, says analyst
Bitcoin’s market is being buoyed by a surge of institutional demand: spot ETFs have attracted over $59 billion in net inflows and corporate treasuries have added nearly 179 k BTC, while early‑bull sig
EBay rejects GameStop’s $56 billion bid, putting bitcoin exposure back in focus
eBay’s board turned down GameStop’s $56 billion half‑cash, half‑stock takeover bid, citing financing doubts and confidence in its own strategy. The rejection revives scrutiny of GameStop’s $368 millio
The Download: a Nobel winner on AI, and the case for fixing everything
The Download newsletter spotlights AI trends, drawing on a recent paper by Nobel laureate Daron Acemoglu, who published it shortly before winning the 2024 economics prize. The newsletter presents thre
Labor unions say crypto bill endangers retirement
Labor unions, led by the AFL‑CIO and joined by major teachers and public‑employee groups, have warned that a forthcoming Senate crypto bill could destabilize retirement savings for millions of workers
Senate Banking Committee Unveils 309-Page Clarity Act Text
The U.S. Senate Banking Committee released the 309-page text of the Clarity Act crypto market structure bill just after midnight, days before a Thursday committee vote, keeping the long-stalled legisl
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