Author: usaeverydaylife

CNBC’s Jim Cramer on Tuesday told investors the market no longer seems to be concerned about the potential for Chinese startup DeepSeek to outpace the tech titans currently leading in the artificial intelligence arena.”This data center renaissance, so shocking to the people who abandoned these stocks — the Nvidias, the AMDs, the Vertivs, the Microns, the Marvell Technologies — are all back or nearly back,” he said. “And the story…that Nvidia CEO Jensen Huang calls the new industrial revolution, is once again front and center. It’s like DeepSeek never happened. The AI stocks, they’re all breaking out.”The indexes climbed on…

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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…

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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…

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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…

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