A bank employee count China’s renminbi (RMB) or yuan notes next to U.S. dollar notes at a Kasikornbank in Bangkok, Thailand, January 26, 2023.Athit Perawongmetha | ReutersChina is devising more ways for foreign institutions to use the yuan, as international confidence in the U.S. dollar falters.The moves aim at challenging the greenback, experts said, even as the U.S. dollar remains by far the world’s predominant currency. The timing is favorable as the U.S. dollar index has tumbled more than 9% this year — while the offshore yuan has strengthened more than 2% against the dollar.In a sign of growing resolve…
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Sydney Harbour and the skyline of the central business district (CBD) in Sydney, Australia, on Tuesday, April 29, 2025.Bloomberg | Bloomberg | Getty ImagesAsia-Pacific markets were set to open mixed Wednesday, as investors weighed a ceasefire between Israel and Iran, as well as fresh commentary from the U.S. Federal Reserve.There is growing optimism that a ceasefire between Israel and Iran brokered by U.S. President Donald Trump will likely hold.Japan’s benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 38,840, against the index’s last close of 38,790.56.Futures for Hong Kong’s Hang Seng index stood at 24,341, pointing to a higher open compared…
Investopedia’s Caleb Silver joins ‘Fast Money’ with the latest results of its investor sentiment survey. Source link
David Sherman | National Basketball Association | Getty ImagesFour years after starting the process to take over, Marc Lore and Alex Rodriguez are officially in charge of the Minnesota Timberwolves.The NBA Board of Governors unanimously approved the sale on Tuesday of the controlling interests in both the Timberwolves and the WNBA’s Minnesota Lynx from Glen Taylor, whose ownership of the Timberwolves comes to an end after 31 years.In a $1.5 billion transaction that is expected to close this week, Lore and the three-time Major League Baseball MVP Rodriguez will serve as co-chairmen. Lore will sit as the Timberwolves’ governor while Rodriguez will become alternate governor. Those roles flip for…
Crypto prices, including bitcoin, rose on Tuesday after President Trump announced a ceasefire between Iran and Israel.By midday Tuesday, bitcoin had passed the $105,000 level, ether jumped back above the $2,400 mark, and XRP climbed to $2.19. The risk-on action in the markets, which also saw stocks rally on the Mideast de-escalation, wasn’t the only source of momentum, as Republican senators unveiled a major bill to set the rules of the road for crypto. Specifically, the legislation would define when crypto is a commodity or a security, allow crypto exchanges to register with the Commodity Futures Trading Commission, and reduce the…
OpenAI Co-Founder and CEO Sam Altman speaks at Snowflake Summit in San Francisco on June 2, 2025.Justin Sullivan | Getty Images News | Getty ImagesOpenAI CEO Sam Altman on Tuesday criticized a lawsuit filed by hardware startup Iyo, which accused his company of trademark infringement.Altman said, in response to the suit, that Iyo CEO Jason Rugolo had been “quite persistent in his efforts” to get OpenAI to buy or invest in his company. In a post on X, Altman wrote that Rugolo is now suing OpenAI over the name in a case he described as “silly, disappointing and wrong.”The suit,…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
Traders work at the New York Stock Exchange on June 18, 2025. NYSES&P 500 futures are near flat Tuesday night as investors watch to see if the benchmark index can return to its all-time high.Futures tied to the broad index ticked down 0.1%, as did Nasdaq 100 futures. Dow Jones Industrial Average futures lost 34 points, or 0.1%.The S&P 500 jumped more than 1% in Tuesday’s session as oil prices fell on bets that the ceasefire between Iran and Israel could last. With that gain, the index now sits less than 1% off its record high.The Nasdaq Composite also popped…
A FedEx truck on Cyber Monday in San Francisco, California, US, on Monday, Dec. 2, 2024. David Paul Morris | Bloomberg | Getty ImagesFedEx reported better-than-expected quarterly earnings and revenue Tuesday as the company announced it had achieved its $4 billion cost-cutting goal and will aim to trim another $1 billion in its upcoming fiscal year.The company achieved its “structural cost reduction target, in the face of ongoing headwinds,” CEO Raj Subramaniam said in a media release.”Looking ahead, I’m confident that our transformation initiatives, which are focused on integrating our networks and further reducing our cost-to-serve, will create meaningful long-term value,”…
(This is a wrap-up of the key money moving discussions on CNBC’s “Worldwide Exchange” exclusive for PRO subscribers. Worldwide Exchange airs at 5 a.m. ET each day.) Investors are looking for opportunities in the oil and natural gas space. They are also eyeing a tailwind for defense stocks in President Donald Trump’s spending bill. Worldwide Exchange Pick: EOG Resources Patrick Fruzzetti of Rose Advisors said EOG Resources is a good buy despite the decline in oil prices. “It’s a premium driller with a great balance sheet, good assets they have been in West Texas for a long time, they are…
