The crypto market has the wind in its sails as 2025 kicks off, especially given the current macro and political backdrop, according to Grayscale’s Zach Pandl. “It was an excellent year not only for crypto, but for many other assets,” the firm’s managing director of research told CNBC’s Tanaya Macheel in this special Pro Talks discussion available to all readers. “That was largely because the economy avoided a recession … and despite a good outcome for the economy, the Federal Reserve was cutting interest rates. That macroeconomic environment is going to be good for bitcoin.” Bitcoin had a record year…
Author: usaeverydaylife
The final session of 2024 is here and it will mark the end of a remarkably smooth year for Wall Street. The S & P 500 has rallied more than 23% for the year, hitting record highs along the way. The Dow Jones Industrial Average and Nasdaq Composite also soared to record levels, as a cocktail of artificial intelligence enthusiasm, a strong economy, easing monetary policy and expectations of deregulation ahead boosted sentiment. And these gains came with very little turbulence. The S & P 500 did not suffer a correction at any point — which is typically defined as…
The World Artificial Intelligence Conference in Shanghai in July 2023.Aly Song | ReutersAlibaba is cutting prices on its large language models by up to 85%, the Chinese tech giant announced Tuesday.The Hangzhou-based e-commerce firm’s cloud computing division, Alibaba Cloud, said in a WeChat post that it’s offering the price cuts on its visual language model, Qwen-VL, which is designed to perceive and understand both texts and images.Shares of Alibaba didn’t move much on the announcement, closing 0.5% higher on the final trading day of the year in Hong Kong.Nevertheless, the price cuts demonstrate how the race among China’s technology giants…
Doing your taxes can be a chore. And like any chore, it’s occasionally worth it to bring in a professional to help. But with all the DIY options out there, when does it make sense to bring in an expert to make sure you’ve filed your taxes correctly?You should consider paying someone else to do your taxes when you receive money outside of your primary job, say, from selling a home or owning a business, says Erica James, a certified public accountant, certified financial planner and director at Signify Wealth in St. Louis, Missouri.”When this starts happening, I would recommend…
Hock Tan, CEO of Broadcom (L) and former CEO of Intel, Pat Gelsinger.Reuters | CNBCIt was a big year for silicon in Silicon Valley — but a brutal one for the company most responsible for the area’s moniker.Intel, the 56-year-old chipmaker co-founded by industry pioneers Gordon Moore and Robert Noyce and legendary investor Arthur Rock, had its worst year since going public in 1971, losing 61% of its value.The opposite story unfolded at Broadcom, the chip conglomerate run by CEO Hock Tan and headquartered in Palo Alto, California, about 15 miles from Intel’s Santa Clara campus.Broadcom’s stock price soared 111%…
Joggers exercise on a dark street in San Juan, Puerto Rico after a major power outage hit the island on December 31, 2024.Ricardo Arduengo | AFP | Getty ImagesA blackout hit nearly all of Puerto Rico early Tuesday as the U.S. territory prepared to celebrate New Year’s Eve.More than 1.2 million out of 1.47 million clients were without power, according to Luma Energy, a private company that oversees electricity transmission and distribution on the island.It wasn’t immediately clear what caused the widespread outage or when power would be restored. Luma officials did not immediately return a message for comment.In a…
Check out the companies making headlines before the bell. Crypto stocks – Stocks tied to the price of bitcoin gained as the cryptocurrency inched higher on Tuesday. Bitcoin proxy MicroStrategy advanced nearly 5%, while crypto services provider Coinbase rose more than 2%. Miners Mara Holdings and Riot Platforms also each moved more than 2% higher. VeriSign – The internet stock jumped more than 3% in premarket trading after a regulatory filing revealed that Warren Buffett’s Berkshire Hathaway bought more shares in the company. The conglomerate added 76,487 more shares of Verisign over the past three trading days for 15.6 million.…
Some stocks leading this year’s bull rally could be destined for another year of outperformance. Except for a few notable sell-offs, 2024 marked a year of big gains for the stock market. Year to date, the benchmark S & P 500 index has risen nearly 24%, followed by the Dow Jones Industrial Average ‘s 13% return. The tech-heavy Nasdaq Composite has soared almost 30%. The technology sector’s stranglehold on market outperformance eased a tad this year, with the bull rally broadening out to include small-cap stocks. The Russell 2000 is on pace to finish 2024 with a 10% rise .…
For decades, Art Cashin, UBS’ director of floor operations at the New York Stock Exchange, would write a New Year’s poem to reflect back on the year’s events. With Cashin’s passing earlier this month, his sons, Arthur and Peter, sent this homage to their father:Some Other Cashins’ Comments: An Homage PresentationDecember 30, 2024 by Arthur Cashin III and Peter CashinIn 2024,Wall Street stopped in fear.No more annual poemswithout Arthur here?My brother and Isaid, “Let’s give this a try,”but with one precondition,there would be no AI!Genetics or environment,we share his same vice.So, we joined our feeble minds,while marinating some ice. Paris hosted the…
Cars pass under toll machines on Broadway Avenue in the Manhattan borough of New York City on November 14, 2024. Charly Triballeau | AFP | Getty ImagesWith just days to go before the nation’s first congestion toll begins in New York City, the pricing plan may have passed its final hurdle in a ruling from a U.S. district court who heard a suit from the state of New Jersey on environmental grounds, according to the MTA. But an attorney for the state of New Jersey says not so fast.While the judge ruled the Federal Highway Administration (FHWA) will need to weigh in, the…
