Ken Griffin, founder and CEO of Citadel, said President Donald Trump’s global trade fight risks spoiling the reputation of the country and its government bond market.”The United States was more than just a nation … it’s a universal brand. Whether it’s our culture, our financial strength, our military strength, America rose beyond just being a country,” Griffin said at Semafor’s World Economy Summit in Washington, D.C., Wednesday. “It was like an aspiration for most the world, and we’re eroding that brand right now.”Trump’s rollout of the highest tariffs on imports in generations shocked the world earlier this month, triggering extreme…
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Close up of a woman’s hand paying with her smartphone in a cafe, scan and pay a bill on a card machine making a quick and easy contactless payment. D3sign | Moment | Getty ImagesPayPal and Venmo users will soon be able to earn yield on their stablecoin holdings, the company said Wednesday.Customers will earn an annual interest rate of 3.7% beginning this summer. It will be paid in the PayPal USD stablecoin (PYUSD) on their holdings of the same token. The rewards will be available to use for transacting with other users on the platform, funding international transfers, exchanging dollars…
Check out the companies making headlines in midday trading: Duolingo — Shares surged more than 9% following Morgan Stanley’s initiation of the language learning platform at overweight. The bank set a Wall Street-high price target on Duolingo shares and called the stock a “best-in-class consumer internet asset.” Tesla — Shares of the electric vehicle maker jumped about 7% despite its first-quarter earnings and revenue coming in weaker than expected. CEO Elon Musk said on the company’s earnings call Tuesday that his amount of time spent with the so-called Department of Government Efficiency will decline “significantly” starting next month . Gildan…
With the likelihood of further escalation in trade wars significantly reduced, alongside confirmation that President Trump will not seek to replace Federal Reserve Chairman Powell, confidence in the U.S. dollar and Treasurys is being restored. This creates an opportunity to invest in high-quality tech stocks such as Meta Platforms that have been sold off in recent weeks. META offers a compelling valuation, strong growth in artificial intelligence and augmented reality, and a favorable risk to reward for adding bullish exposure. With the stock poised for a rally, a high implied volatility (IV) environment allows us to capture elevated premiums while…
President Donald Trump’s indication that he will not seek to remove Federal Reserve Chair Jerome Powell both has helped calm the market and lowered the odds that the U.S. will enter recession, according to Evercore ISI strategist Krishna Guha. Markets slumped Monday following another Trump broadside against the Fed last week and news over the weekend from National Economic Council Director Kevin Hassett that the administration was looking at legal analysis in removing Powell . But Trump on Tuesday stated he has “no intention” on removing Powell before the central bank leader finishes his term in May 2026. The surprise…
Tourists look at the Bridge of Sighs in Venice, Italy, on Aug. 25, 2021.Andrea Merola | Bloomberg | Getty ImagesCaroline Smith, an accounting director from Verona, New Jersey, and her husband took their two children to Italy for Easter break this month. On the Spanish Steps in Rome, they ran into another family from their town. Two other families from the same area were also independently visiting Italy at the same time, she said.The families are part of an emerging trend in the $11 trillion global travel industry: Americans are traveling abroad in droves, while the number of visitors to…
This photo taken on Jan. 30, 2025 shows the European Central Bank ECB headquarters in Frankfurt, Germany.Zhang Fan/Xinhua via Getty ImagesThe European Central Bank should only enact one more quarter percentage point interest rate cut this year despite wider risks to economic growth, the International Monetary Fund’s Europe chief said Wednesday.”We have a very clear recommendation for the ECB, what we saw so far is a huge success in the disinflation effort and monetary policy has worked … so we are expecting to sustainably hit the 2% inflation target in the second half of 2025,” Alfred Kammer, director of the…
US President Donald Trump and Tesla CEO Elon Musk, alongside Musk’s son X Æ A-Xii, speak to the press as they stand next to a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC. Mandel Ngan | AFP | Getty ImagesTesla shares popped 6% after CEO Elon Musk suggested that he will spend more time at the company and tariff optimism from the White House lifted broader investor sentiment.Shares were initially flat postmarket, jumping on tariff optimism after President Donald Trump signaled that duties on China won’t be as high as 145% and…
Investors think the worst could be over for Tesla , judging by the stock’s post-earnings rally. Deutsche Bank has a few reasons that may explain why this is happening. Analyst Edison Yu reiterated his buy rating and $345 price target on Tesla shares, suggesting the stock could gain about 45% from Tuesday’s close. The stock is down 39% in 2025, after suffering its worst quarterly drop since 2022 in the first quarter. “After a very volatile start to the year, we think the set up for the stock going forward should improve as deliveries and sentiment could potentially be bottoming…
Selim Korkutata | Anadolu Agency | Getty ImagesBitcoin rose for a third day in a broad relief rally after President Donald Trump softened his tone on China tariffs and ratcheted down his rhetoric against Federal Reserve Chair Jerome Powell.The price of the flagship cryptocurrency was last higher by 1.3% at $92,654, according to Coin Metrics. Earlier, it rose as high as $94,499.86, its highest level since March 3. Bitcoin has now clawed back about half of its losses since Inauguration Day and is hovering just under the flat line for the year.”This recent surge primarily reflects a market seizing the…
