Robinhood has officially closed its $200 million acquisition of Bitstamp, bringing one of the world’s longest-running cryptocurrency exchanges into its fold and signaling a strategic shift beyond retail trading and into the world of institutions.The all-cash deal, first announced last year, gives Robinhood an immediate international footprint — including more than 50 active crypto licenses across Europe, the UK, and Asia — as well as an established institutional client base, something the retail trading app has long lacked.For Robinhood, the deal marks a move into deeper waters: institutional crypto flows, lending and staking infrastructure, and white-label “crypto-as-a-service,” products built for…
Author: usaeverydaylife
Annabelle Gordon/Bloomberg via Getty ImagesThe massive package of tax cuts House Republicans passed in May is expected to increase the U.S. debt by trillions of dollars — a sum that threatens to torpedo the legislation as the Senate starts to consider it this week.The Committee for a Responsible Federal Budget estimates the bill, as written, would add about $3.1 trillion to the national debt over a decade with interest, to a total $53 trillion. The Penn Wharton Budget Model estimates a higher tally: $3.8 trillion, including interest and economic effects.Rep. Thomas Massie of Kentucky was one of two Republicans to…
JPMorgan added Rockstar Games parent company Take-Two Interactive to its list of top stocks as June trading begins. The firm updates its analyst focus list each month. It comprises JPMorgan’s top ideas for growth, income, short investment tactics and value. The June list, which includes just one addition and one stock removal, comes as investors continue to weigh macroeconomic concerns tied to tariffs and U.S. trade policy. Tensions between China and the U.S. were heightened to start the month, after Beijing on Monday pushed back against the Trump administration’s accusations that it violated the Geneva trade agreement. Stocks were lower…
A Springfield Armory SAINT M-LOCK AR-15 semi-automatic rifle is displayed on a wall of guns during the National Rifle Association (NRA) Annual Meeting at the George R. Brown Convention Center, in Houston, Texas on May 28, 2022. Patrick T. Fallon | Afp | Getty ImagesWASHINGTON — The Supreme Court on Monday declined to hear two major gun cases challenging a Maryland law that bans assault-style weapons, including the AR-15 semiautomatic rifle that has been used in high-profile mass shootings, and a Rhode Island restriction on large-capacity magazines.As a result, the two laws remain in effect. Litigation over similar bans across the country…
If history is any indication, this stellar earnings season and the ensuing May rally mean investors may be in for some rocky times ahead. By all standards, the first-quarter earnings season — which ended last week with Nvidia reporting an earnings and revenue beat — marked the resumption of the artificial intelligence-driven structural bull market, Evercore ISI wrote in a Sunday note. The investment firm noted that this earnings season had one of the biggest rallies of any season since 1992. “1Q Earnings Season was a Blowout (493 S & P 500 companies, 98% of market cap have reported), with…
Private equity firm Roark Capital has bought a majority stake in Dave’s Hot Chicken, the company announced on Monday.Financial terms were not disclosed, but Dave’s CEO Bill Phelps said on CNBC’s “Squawk Box” that the reported $1 billion valuation for the deal is “pretty close.”Since its founding in a Los Angeles parking lot in 2017, the fast-growing chicken chain has expanded to more than 300 locations by franchising its restaurants. Dave’s U.S. sales soared 57% last year and surpassed $600 million, according to data from market research firm Technomic.Roark’s investment follows a boom for chicken-focused restaurants, fueled by the so-called…
Metals prices have shined year-to-date, with most metals having outperformed the S & P 500 Index and gold the standout relative performer. We believe gold’s outperformance should persist given the positive long-term momentum that gold possesses in absolute terms and relative to equities. However, while gold seems to get all the press, there are other metals with promising technical set-ups that are worth a look from a technical perspective. Copper prices are higher Monday, unphased by weakness in metals affected by tariff headlines. The generic copper futures are above their 50-day, or ~10-week, moving average MA) in a pending breakout…
Most people think taking your time to make a big decision is essential to making the best call. Haste equals regret, right? Not in my experience. I’m a decision coach who helps people make one decision — big or small — in a single session. I’ve helped people decide whether to move abroad, change careers, get divorced, or have kids. I even helped someone pick what color to paint their kitchen. I’ve worked with more than 500 clients, and they all have one thing in common: They take way too long to make their decision. What they don’t realize is that this actually…
Mohamed Sabry Soliman, man accused of attacking a rally supporting Israeli hostages in Boulder, Colorado.Obtained by NBC NewsFederal prosecutors on Monday charged the suspect in a fire attack on demonstrators in Boulder, Colorado, with a charge of hate crime.A criminal complaint filed against the suspect, Mohamed Sabry Soliman, said there is probable cause to believe he attacked the demonstrators because they were supporting Israel in calling for the release of hostages still being held by the Palestinian terror group Hamas.Soliman, 45, is due to appear Monday afternoon in Boulder court to face state charges related to Sunday’s attack, which left…
The aging population has implications for the markets around the world. Yet it isn’t just health-care companies and senior living facilities that will reap the benefits. Financial companies also stand to gain as demographics shift, according to Morgan Stanley and UBS. As longevity increases and fertility rates fall, the oldest generation will represent an increasingly larger part of the world’s total population. In the United States, those aged 65 and older made up about 17% of the population in 2020. They are expected to represent 21% of the population by 2030 — and the percentage will keep climbing through 2060,…
