UBS Wealth on Tuesday moved to the sidelines on U.S. stocks, casting doubt on the recent rally even as others on Wall Street have grown more bullish. Mark Haefele, the firm’s investment chief, downgraded U.S. equities to neutral from attractive, noting he is not bearish or telling clients to sell but rather “taking advantage” of the runup in stocks over the past month after investors had grown too pessimistic in early April after the U.S. announced its new tariff policy. Haefele’s latest skepticism reverses an upgrade to U.S. stocks that he made on April 10, the day after President Donald…
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Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023.Michael Nagle | Bloomberg | Getty ImagesCoinbase shares soared more than 20% on Tuesday and headed for their sharpest rally since the day after President Donald Trump’s election victory following the crypto exchange’s inclusion in the S&P 500.S&P Global said in a release late Monday that Coinbase is replacing Discover Financial Services, which is in the process of being acquired by Capital One Financial. The change will take effect before trading on Monday.Stocks added to the S&P 500…
The recent 90-day suspension of tariffs between the U.S. and China could translate into future gains for chipmakers Nvidia and Advanced Micro Devices , according to Piper Sandler. The agreement announced Monday puts China’s tariffs on U.S. goods at 10%, while the total U.S. tariff rate on Chinese imports stands at 30%. Lower restrictions on exports of semiconductors may result from future trade talks between the U.S. and China, Piper analyst Harsh Kumar said. Treasury Secretary Scott Bessent told CNBC on Monday that the U.S. is likely to meet with Chinese officials ” in the next few weeks ” to…
Senate Minority Leader Chuck Schumer (D-NY) speaks at a press conference with other members of Senate Democratic leadership following a policy luncheon at the U.S. Capitol in Washington, DC May 6, 2025. Nathan Posner | Anadolu | Getty ImagesSenate Minority Leader Chuck Schumer announced Tuesday that he is putting a hold on Department of Justice political nominations in protest of President Donald Trump’s plans to accept a roughly $400 million luxury jet from Qatar.”This is not just naked corruption, it is also a grave national security threat,” Schumer said from the Senate floor, as he demanded answers from the Trump…
U.S. President Donald Trump speaks at the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | ReutersThe U.S. will remove all sanctions on Syria, President Donald Trump announced Tuesday.”I will be ordering the cessation of sanctions against Syria in order to give them a chance at greatness,” Trump told a packed auditorium in Riyadh, Saudi Arabia during the first appearance of his four-day visit to the Middle East.”In Syria, which has seen so much misery and death, there is a new government that will hopefully succeed in stabilizing the country and keeping peace. That’s what…
Senior Advisor to the US President Elon Musk (L) and Nvidia CEO Jensen Huang (C) are directed to greet the Saudi Crown Prince at the Royal Court in Riyadh on May 13, 2025. Brendan Smialowski | Afp | Getty ImagesWealth and power.Global political and business leaders gathered in Riyadh Tuesday for the Saudi Arabia Investment Forum, discussing the artificial intelligence boom and global trade.President Donald Trump met with Saudi Crown Prince Mohammed bin Salman as several deals were announced between the two countries.Saudi Arabia is investing $600 billion in the U.S., a package that the White House said would boost…
American presidents have been visiting Saudi Arabia for decades, and the trips have often produced memorable moments — some dramatic, others downright odd.As President Trump returns to Saudi Arabia, here is a look back at four moments from past presidential trips to visit leaders of the oil-rich Gulf state.2022: The Biden Fist BumpThe relationship between the United States and Saudi Arabia appeared to be wilting before President Joseph R. Biden Jr. visited Jeddah in 2022.Mr. Biden, as a candidate in 2019, had vowed to turn Saudi Arabia into a “pariah” over the killing of the Washington Post journalist Jamal Khashoggi,…
Coinbase is about to become the first and only crypto company to join the S & P 500, an event that symbolizes a great feat for the industry but also has significant positive implications for investors. On Monday evening, S & P Dow Jones Indices announced that the crypto exchange operator will be added to the benchmark S & P 500 stock index before trading begins on May 19. It will replace Discover Financial Services , which is being acquired by Capital One Financial . Coinbase jumped more than 18% on Tuesday, narrowing its year-to-date loss to less than 2%.…
Tareq Amin, CEO of Humain, and Jensen Huang, CEO of NVIDIA, attend the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia May 13, 2025. Hamad I Mohammed | ReutersNvidia will sell over 18,000 of its latest artificial intelligence chips to Saudi Arabian company Humain, CEO Jensen Huang announced on Tuesday.The announcement was made as part of a White House-led trip to the region that includes President Donald Trump and other top CEOs.The cutting-edge Blackwell chips will be used in a 500 megawatt data center in Saudi Arabia, according to remarks at the Saudi-U.S. Investment Forum in Riyadh on Tuesday. Nvidia said…
Harvard sweatshirts are displayed for sale in a school store window on the Harvard University campus in Cambridge, Massachussetts, on April 15, 2025.Joseph Prezioso | Afp | Getty ImagesThe Trump administration announced Tuesday that it is cutting an additional $450 million in grants to Harvard University through eight federal agencies, on top of the $2.2 billion already frozen last week.”Harvard University has repeatedly failed to confront the pervasive race discrimination and anti-Semitic harassment plaguing its campus,” the Joint Task Force to Combat Anti-Semitism said in a statement.The task force went on to call Harvard a “breeding ground for virtue signaling…
