Jakub Porzycki | Nurphoto | Getty ImagesFairshake, the cryptocurrency industry’s most powerful political action committee, announced Tuesday that it now holds more than $141 million in cash on hand, underscoring the sector’s growing influence as Congress takes up landmark legislation this week.The total, which includes liquid assets like crypto, stock, and cash, reflects a surge of donations from digital asset executives and firms, including a fresh $25 million from Coinbase.Fairshake and its two affiliated PACs — Defend American Jobs and Protect Progress — have raised $109 million since Election Day in 2024 and $52 million during just the first half…
Author: usaeverydaylife
Lisa Su, chair and CEO of Advanced Micro Devices Inc., during the AMD Advancing AI event in San Jose, California, on Dec. 6, 2023.David Paul Morris | Bloomberg | Getty ImagesAdvanced Micro Devices said Tuesday that it will soon restart shipments of its MI308 artificial intelligence chips to China. The stock climbed 7% following the news.The company said Tuesday that the U.S. Commerce Department plans to resume reviewing its license applications to send the products to the world’s second-largest economy. AMD said it plans to start shipments once those are approved.”We applaud the progress made by the Trump administration in…
President Donald Trump’s tax-and-spending bill, signed into law earlier this month, will provide greater clarity for CEOs of public companies in the future, according to long-time value investor Mario Gabelli, CEO of GAMCO Investors. Gabelli also expects more cross-border deals as a result of the legislation. Overall, the law makes stocks look more attractive on the whole, the investor said on CNBC’s ” Squawk on the Street ” Tuesday morning. Gabelli shared two specific names he’s bullish on: Textron and National Fuel Gas . “Both of them are extraordinarily interesting. Both of them [are] stocks that I’m buying daily, nibbling…
Customers line up at the check out booth on April 18, 2025 at a Costco branch in Niantic, Connecticut.Robert Nickelsberg | Getty ImagesThe annual inflation rate ticked higher in June, in line with expectations, as lower prices at the gasoline pump somewhat offset higher prices at the grocery store.Economists said they expect the full impact from the Trump administration’s tariff agenda to raise consumer prices more in the months ahead — but they said trade policies have already started to noticeably affect inflation.The consumer price index, a key inflation barometer, rose 2.7% in the 12 months through June, up from 2.4% in May, the Bureau…
Fund managers are becoming increasingly bullish on European equities, according to the latest iteration of Bank of America’s European Fund Manager Survey. European stocks have broadly enjoyed a significant rally this year, amid a diversification away from U.S. assets , the promise of massive fiscal stimulus in Germany , and a bull run in the region’s defense sector . Between July 4 and July 10, BoA polled 222 fund managers who collectively manage assets worth $504 billion. The findings, published Tuesday, showed that a net 81% of European investors see upside for European equities in the coming 12 months, with…
CoreWeave Inc. signage in Times Square in New York, US, on Friday, May 9, 2025. Yuki Iwamura | Bloomberg | Getty ImagesCoreweave stock climbed more than 9% on Tuesday after the company announced a $6 billion artificial intelligence data center project in Pennsylvania.The commitment includes an initial 100 megawatt data center built in Lancaster, a city about 70 miles west of Philadelphia. The data center will be able to expand to 300 MW.”The demand for high-performance AI compute is relentless,” said CoreWeave CEO Michael Intrator in a release, “and CoreWeave is scaling a cloud purpose-built for AI to meet it…
Jamie Dimon, CEO of JPMorgan Chase, leaves the U.S. Capitol after a meeting with Republican members of the Senate Banking, Housing and Urban Affairs Committee on the issue of de-banking on Feb. 13, 2025.Tom Williams | Cq-roll Call, Inc. | Getty ImagesJPMorgan Chase CEO Jamie Dimon says he doesn’t get the appeal of stablecoins, but he also can’t afford to stay on the sidelines.It’s the message Dimon gave Tuesday when asked during an earnings conference call about whether his company, the largest and most influential U.S. bank, was exploring the payment technology.Stablecoins, as the name suggests, are a type of…
Nvidia cleared a key hurdle that restricted the sale of its H20 chips to China, a move that gave some analysts on Wall Street room to raise their forecasts for the stock. The Jensen Huang-led company whose chips power artificial intelligence said earlier Tuesday that it hopes to soon resume shipping H20 general processing units to China after the U.S. lifted restrictions placed on their sale to Beijing in April. “The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,” the company said in a Tuesday blog post . The statement helped…
Bitcoin traded around $116,000 on Tuesday, falling back from a historic surge that briefly sent the world’s largest cryptocurrency past $123,000 for the first time.Even with the pullback, the cryptocurrency is still trading at nearly twice its level from a year ago. Unlike previous cycles, the record run isn’t being driven by retail mania or meme-stock energy. This move is being powered by structural demand, shifting macro positioning and a wave of Wall Street adoption that’s playing out in real time.Spot Bitcoin ETFs pulled in $2.7 billion last week, including nearly $1.3 billion in a single day — the second-largest…
Workers prepare customers’ orders at the main rice market in Jakarta on July 9, 2025.Bay Ismoyo | AFP | Getty ImagesPresident Donald Trump on Tuesday said he has reached a deal with Indonesia, a week after he threatened to slap a 32% tariff on the southeast Asian country’s U.S. exports.Trump in a Truth Social post called it “great deal, for everybody,” and said it followed direct dealings with Indonesian President Prabowo Subianto.He provided no other information about the purported deal, but said details would follow.Indonesia is one of the United States’ top 25 trade partners, with the two countries trading…
