Bloomberg News

Institutional investors, which have traditionally made up private debt’s largest pool of money, are no longer a source of growth for the $1.7 trillion industry.

Gold climbed to a record after another faster-than-forecast US inflation print and an uptick in applications for unemployment benefits substantiated bets that the Federal Reserve will cut interest rates next week.

All signs point to a tough few months ahead for investors charting the dollar’s path, after the US presidential debate and a key inflation reading left markets anticipating heightened volatility through year-end.

In some ways, central banking requires a trader’s instincts. Policymakers need to marry academic rigor with quick reflexes. There is a time for rumination and a time for action.

Tech companies of a certain size have long expected an easy ride from authorities, and for good reason. They always got it. Apple Inc. for years abused loopholes to pay virtually zero tax in the European Union while generating record profits there, thanks to special treatment from Ireland, where it bases its European headquarters.

Mario Draghi wants Europe to follow the United States and China down the road marked “industrial strategy.” As Europe’s most influential economist — a former head of the European Central Bank, prime minister of Italy and technocrat supreme — Draghi had enormous leeway in preparing his report on European competitiveness.

Forecasters expect a monthly report on US consumer prices to show another month of muted increases, possibly playing into a Federal Reserve debate over how much to cut interest rates.

Goldman Sachs Group Inc. has a message for benchmark managers who are weighing big reshufflings of their indexes to account for a handful of stocks growing to interstellar size: slow down.

US Treasuries rallied ahead of a closely watched inflation reading that could cement bets on the size of the Federal Reserve’s interest-rate cut this month.

US mortgage rates slid last week to the lowest level since February 2023, emboldening homebuyers and spurring a pickup in refinancing applications in welcome news for the real estate market.

State Street Global Advisors and Galaxy Asset Management are launching a trio of cryptocurrency-focused exchange-traded funds even as investors pull back from spot Bitcoin funds.

Investors weighing election risks ahead of the first US presidential debate between Vice President Kamala Harris and former President Donald Trump are already a lot more jittery than they were before Trump and his onetime opponent, President Joe Biden, met onstage in June.

Apple Inc. lost its court fight over a €13 billion ($14.4 billion) Irish tax bill and Google lost its challenge over a €2.4 billion fine for abusing its market power, in a double boost to the European Union’s crackdown on Big Tech.

The next-generation processor was unveiled six months ago, but has faced engineering snags that delayed its release. While Chief Executive Officer Jensen Huang tried to reassure the market last month that revenue from the chip is coming soon, some investors were left wanting for details.

The all-in view of Tesla Inc. was summed up in a line from a report this summer by one of the more all-in analysts covering the company: “The car is to Tesla what the video game chip is to Nvidia.

When John D. Rockefeller wanted to punish a rival, he cut prices to force them to operate at a loss. The father of the modern oil industry had a name for it: a “good sweating.” A century later, OPEC+ is giving Big Oil the modern equivalent of Rockefeller’s time-tested tactics. Not everyone will be fit enough for it.

US Bitcoin exchange-traded funds have posted their longest run of daily net outflows since listing at the start of the year, part of a wider retreat from riskier assets in a challenging period for global markets.

Bond traders who struggled to predict how high the Federal Reserve would raise interest rates are finding the way down just as vexing.

Cloud computing has been one of the first industries to get a demonstrable boost from artificial intelligence. Oracle Corp.’s quarterly results on Monday are likely to extend that trend.

The US stock market has given us plenty of real and perceived calendar anomalies to think about. There’s the observed tendency for stocks to experience a “Santa Claus rally” (during the last five trading days of the year and the first two of the next) and the weekend effect (where stocks have a habit of slumping on Mondays).

American consumers have surprised many economists this year by continuing to spend even as their savings shrink and the labor market cools. They’ve been aided in part by pockets of deflation that have boosted their purchasing power on things such as gasoline, automobiles and airfares.

Former Treasury Secretary Lawrence Summers said that while the August employment report wasn’t particularly poor, it did make predicting the size of the Federal Reserve’s likely interest-rate cut this month a tougher call.

Amundi SA and First Eagle Investment Management are looking to raise as much as $5 billion for a new private credit strategy that will offer wealthy individuals in Europe, the Middle East and Asia access to private loans made to mid-size US companies.

Nvidia Corp. has wiped out more than $400 billion in value this week, weighing on key equity benchmarks as jitters spread over the health of the US economy and an AI trade that may have gotten ahead of itself.

After two days of record sales in the US blue-chip corporate debt market, another 11 companies are looking to sell bonds on Thursday, and demand for the securities is holding strong by key measures.

Former President Donald Trump’s proposals for targeted tax breaks are resonating with battleground-state voters, who overwhelmingly approve of his ideas to eliminate taxes on tipped income and retirement benefits.

Despite what you may have heard from the doomers, the US labor market is hardly falling apart at the seams. Layoffs are still extraordinarily low and a report Friday showed that the overall unemployment rate slipped to just 4.2%.

OPEC+ is like a teabag – it only works in hot water. The late Robert Mabro, one of the savviest oil-market observers, liked to say the cartel only got the job done when it was under prolonged financial pain. To judge by its latest actions, OPEC+ has yet to realize it’s inside a warming kettle.

Most people see “blockchain” and “funds” in the same sentence and immediately think of pools of money betting on cryptocurrencies like Bitcoin and Ether. That isn’t how Singapore sees the utility of distributed ledgers.

US hiring fell short of forecasts in August after downward revisions to the prior two months, a development likely to fuel ongoing debate over how much the Federal Reserve should cut interest rates.

US Treasuries gained and traders ramped up their bets that the Federal Reserve will opt for a supersized interest-rate cut this month after a mixed report on the US labor market.

The world’s biggest asset manager is taking some chips off the table as markets enter a “new phase” of turbulence ahead of a Federal Reserve interest rate cutting cycle and the US presidential election.

Tax policies touted in the US presidential election could have a big impact on S&P 500 earnings, according to Goldman Sachs Inc. strategists.

The bold bet from the likes of Citigroup Inc. and JPMorgan Chase & Co. that the Federal Reserve will slash interest rates by a half-percentage-point this month faces its biggest test yet from Friday’s US jobs report.

Labor Day weekend, marking the end of the US summer driving season, is typically the year’s last hurrah for gasoline producers. This year, the high-fives were reserved for drivers (and White House occupants): The average pre-long weekend pump price was down 13% from last year after gasoline refining margins collapsed in August. Pump prices have eased further this week.

Jane Street Group LLC and Citadel Securities are on a tear. First-half revenue at the two predominantly electronic market makers grew about 80% compared with the first six months of 2023, according to Bloomberg News. That’s enough to make traditional Wall Street executives green with envy — but these upstarts aren’t going to completely devour the old guards’ lunch.

A key segment of the US Treasury yield curve briefly turned positive as weaker-than-anticipated labor-market data bolstered bets on steep interest-rate cuts by the Federal Reserve.

Equity bulls looking for signs of relief after Tuesday’s stock rout may get a hand from a familiar friend: corporate America.

Bond traders are bracing for wilder market swings in the US than in Europe, as signs the world’s largest economy is faltering fuel bets on a jumbo interest-rate cut from the Federal Reserve.

The sharp selloff that wiped a record $279 billion off Nvidia Corp.’s market value on Tuesday has traders scouring charts for clues as to where the pain might end.

After a bruising few years, Asian currencies have suddenly become fashionable again. But this enthusiasm is dependent on words and deeds far away. The direction of global markets is driven overwhelmingly by the US. For now, that means interest-rate cuts by the Federal Reserve.

There are two radically different visions of our AI future, and they depend on the cost of energy.

A record number of blue-chip firms swarmed the US corporate bond market on Tuesday, taking advantage of cheaper borrowing costs as they look to issue debt ahead of the US presidential election.

Half your coworkers might have just spent August in Europe, but there were no holiday doldrums in the booming world of ETFs.

Cliff Asness says he sounds like an “old man whinging,” but that’s not stopping him from writing 23 pages on his latest thesis: Financial markets these days aren’t what they were.

It’s the story of so many stock market manias: A transformative technology juices a few companies, a bunch of more questionable outfits follow in their wake, and Wall Street buys it all. Then time sorts out what’s real from fake.

Apple Inc.’s upcoming iPhone release has sent its stock price soaring because of promised artificial-intelligence features. Those gains appear vulnerable, at least in the short term, if history is any guide.

Since the pandemic, Wall Street strategists have repeatedly underestimated the performance of the US stock market in their annual projections, leading to a mad dash to boost their outlooks in the back end of the year.

What’s the point of Keir Starmer’s massive electoral majority if he remains hesitant to do something for young people on Brexit that’s not just compassionate and sensible, but also very popular?

Has the tide turned decisively against King Dollar? A fall of around 5% in the greenback versus major currencies in the past two months, pushing the dollar index to a 13-month low, suggests its post-pandemic surge has meaningfully faltered.

Investors pursuing widely followed 60/40 strategies should consider swapping out bonds for commodities, according to strategists at Bank of America Corp.

The Federal Reserve’s preferred measure of underlying US inflation rose at a mild pace and household spending picked up in July, reinforcing policymakers’ plan to start cutting interest rates next month.

Forecasting anything, let alone something as complicated as the economy, is fraught. Stretches of decent growth and low inflation that look, in retrospect, like happy days, can be upended by unforeseen events. Covid, the descent into recession and the sharp rebound are just a few examples. Errors, unfortunately, are an unavoidable part of trying to map the future.

There’s an adage in Silicon Valley: Hardware is hard. And expensive. And time-consuming. That’s the case even when you’re a company that’s really good at it — like Nvidia Corp., whose market value has grown to $3 trillion thanks to its extraordinary prowess in the trickiest hardware challenge today: building cutting-edge chips for artificial intelligence.

Nvidia Corp., the world’s biggest chipmaker, has discussed joining a funding round for OpenAI that would value the artificial intelligence startup at more than $100 billion, according to people familiar with the matter.

The late Jack Bogle — father of the first index fund — famously loathed their exchange-traded offspring, warning that it only incentivize speculative trading among “fruitcakes, nut cases and lunatic fringe.” Fast forward to 2024, and critics warn a new generation of ETFs are designed to do exactly that.

Last week’s meeting of central bankers in Jackson Hole was a kind of victory lap for the Fed. It may have also marked the peak of its power.

Chair Jerome Powell cemented a shift in focus from inflation to employment last week when he said that the Federal Reserve does not seek a further cooling in the labor market. It was a welcome message for those concerned about an economic slowdown. But there are reasons to expect today’s sluggish hiring environment to persist at least into early next year, frustrating job seekers and policymakers alike.

US Treasury yields edged higher after resilient economic reports prompted traders to slightly trim their expectations for the scope of Federal Reserve easing this year.

Nvidia Corp.’s earnings report needed to be perfect for a stock that’s added nearly $2 trillion in market value in the past year. In the end, a broad beat still sparked a selloff.

Nvidia Corp.’s earnings report was impressive by virtually any metric — except its own recent history.

Nvidia Corp. failed to live up to investor hopes with its latest results on Wednesday, delivering an underwhelming forecast and news of production snags with its much-awaited Blackwell chips.

The Big Tech boom is causing headaches for all-powerful index providers on Wall Street, who can send billions of benchmark-tracking dollars on the move with just a stroke of the pen.

Berkshire Hathaway Inc. became the first US company outside of the tech sector to surpass $1 trillion in market value.

At the recent central-bank symposium at Jackson Hole, Federal Reserve Chairman Jerome Powell delivered a widely expected message on interest rates: “The time has come for policy to adjust.” He all but confirmed that the Fed would cut rates by at least a quarter-point when its policymakers next meet in September.

The almost $3 trillion rally in Nvidia Corp. shares over the roughly two years since ChatGPT’s unveiling has virtually rewired the US stock market, giving the artificial intelligence chipmaking giant an outsized influence on a bevy of equity indexes.

With a September interest-rate cut all but certain and attention turning to the pace of future reductions, Federal Reserve officials are coalescing around a gradual approach to the last mile of their inflation fight.

NFL owners are set to vote on selling stakes in their franchises to private equity, potentially joining a shift by professional sports leagues to attract institutional investors.

California wants some insurance against pump prices. But in proposing that oil companies there hold a minimum stockpile of fuels, the state is also, and less obviously, seeking insurance against the complications of its own energy policies. In seeking to kill off gasoline demand but ensure suppliers stay engaged for years to come, the state is confronting one of the central challenges of the energy transition.

“What happened in 1971?” It is one of the most important and debated questions in US economic history, and new research suggests that the answer may be lurking a few decades earlier — in 1948, to be precise.

Global money has flooded into Indonesia’s financial markets this month, signaling the country’s assets have quickly become a preferred investment destination as the US Federal Reserve’s easing cycle nears.

It’s been the ultimate no-brainer for more than a year: Park your money in super-safe Treasury bills, earn yields of more than 5%, rinse and repeat. Or as billionaire bond investor Jeffrey Gundlach put it last October, “T-bill and chill.”

One of the last remaining bright spots for Chinese consumption is rapidly fading, as the nation’s economic malaise takes a toll on demand for even the most accessible of goods.

Expectations heading into Nvidia Corp.’s Wednesday report are high, with analysts anticipating another strong consensus beat that could prompt the chipmaker to raise its profit guidance.

Federal Reserve Chair Jerome Powell on Friday removed all doubt that interest rate cuts are just around the corner. “The time has come for policy to adjust,” he said at his much-hyped annual speech in Jackson Hole, Wyoming, setting off a knee-jerk rally in stocks and bonds.

Mark Zuckerberg may have a history of copying of others’ ideas, but when it comes to navigating the generative AI hype cycle, he’s the one forging a smarter path.

I have listened to people bellyache about the Federal Reserve my entire adult life: Alan Greenspan lowered interest rates too much after the dot-com crash in 2000. Ben Bernanke printed too much money to bail out banks during the 2008 financial crisis.

For years, a Chinese company has dominated one of the most lucrative corners of the cryptocurrency universe. Rising political tensions, and the prospect of Donald Trump retaking the White House, pose an unprecedented threat to that reign.

The dollar plunged after Federal Reserve Chair Jerome Powell affirmed expectations that the central bank will cut interest rates next month, sparking a rally in the currencies of major global peers.

There’s no shortage of market-moving events on the docket to keep Wall Street busy right now.

Since early last year, the cars rolling off Tesla Inc.’s California assembly lines have been selling for steadily lower prices. This has had a happy knock-on effect on a car lot just across the freeway from the company’s San Francisco Bay area factory.

Governments in the US and other developed countries, thanks to their central banks, may be deluded over how much debt they can pile up without significantly raising their costs to borrow.

An Oaktree Capital Management LP venture plans to seek an equity partner to help develop a Dublin project that’s expected to be valued at billions of euro when it’s completed, according to people with knowledge of the matter.

Treasuries rallied after Federal Reserve Chair Jerome Powell’s speech at Jackson Hole cemented expectations that the central bank will cut interest rates next month.

Chair Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.

It’s the hottest trade on Wall Street. Everywhere you turn, money managers have upped their investments in private credit, helping the asset class balloon into a $1.7 trillion industry. But there’s one group where interest appears to already be waning — the family office.

A labor market softening more so than previously thought should spur faster and steeper interest-rate cuts by the Federal Reserve, according to the latest Bloomberg monthly survey of economists.

The Big Tech boom is causing headaches for all-powerful index providers on Wall Street, who can send billions of benchmark-tracking dollars on the move with just a stroke of the pen.

Call me Ishmael. The biggest question about an investment banking client like Elon Musk is whether he turns out to be a Moby Dick.

One of the most widely followed gauges of the stock market, for decades a reliable indicator of future returns, has led investors astray in recent years. Its misdirection comes down to the freakish earnings growth of big technology companies such as Apple Inc. and Alphabet Inc.

Technology giants that want to spend big on artificial intelligence and stay in the good graces of investors should take a page out of Meta Platforms Inc.’s playbook.

Emerging-market stocks are trading at the steepest discount to US equities since the Covid-19 panic in March 2020 as skittish investors look elsewhere for growth opportunities.

The euro’s August gains have been relentless, taking it to a one year high against the dollar on Wednesday, but a cautious tone from Federal Reserve Chair Jerome Powell on Friday could turn that momentum around.

Chair Jerome Powell will usher in the next chapter in the Federal Reserve’s inflation battle on Friday, when he’s expected to set the table for an interest-rate cut while reassuring investors that policymakers can stave off a sharp economic slowdown.

The worst of the housing affordability crisis is behind us. But the past two years have shown that housing isn’t a bubble that is likely to pop overnight, nor can prices be forced lower in the short term with government intervention. Rising incomes, falling mortgage rates, more construction and thoughtful policy will slowly chip away at the affordability problem.

Bond traders are taking on a record amount of risk as they bet big on a Treasury market rally fueled by expectations the Federal Reserve will embark on its first interest-rate cut in more than four years.

With questions swirling around Federal Reserve policy, the state of the economy and the US presidential race, at least one thing seems clear on Wall Street: spending on artificial intelligence remains a central priority.

A wide variety of asset managers need to look at investing in private markets if they want to avoid wipe-out, while revamping their entire strategies to ride the wave, according to Bain & Co.

US job growth in the year through March was likely far less robust than initially estimated, which risks fueling concerns that the Federal Reserve is falling further behind the curve to lower interest rates.

Citigroup Inc. says the carry trade is back, but with a key difference: hedge funds are borrowing US dollars rather than the yen for their wagers on emerging markets.

More than any of the megacap technology stocks, Amazon.com Inc.’s big spending ways are coming at the expense of profits, and its shares are being punished as a result.

Oil, copper, soybeans and a handful of others monopolized the attention — but of all commodities, the humble lump of iron ore benefited the most from the Chinese economic boom of the last 25 years.

The term “recession” made a big comeback in news stories and social media posts this month. Goldman Sachs Group Inc.’s Chief Economist Jan Hatzius was among those who formally bumped up his odds of a downturn to considerable media hoopla.

Investors including JPMorgan Asset Management, M&G Investments and Aviva Investors say they seized on the retreat in riskier assets at the start of the month to bolster their holdings of emerging-market bonds.

The recent rebound in US tech stocks isn’t convincing options traders just yet.

This year’s presentation by Chair Jerome Powell is eagerly awaited due to the economic fluidity and financial volatility that the US has been experiencing, and its spillovers to the rest of the world.

Decisions made by the Treasury get much less attention than those made by the Federal Reserve, but they can be even more consequential for interest rates — and the entire US economy.

Just as bond traders grow more assured that inflation is finally under control, a camp of investors is quietly building up protection against the risk of a future spike in prices.

Texas Instruments Inc. is set to receive $1.6 billion in Chips Act grants and $3 billion in loans, the Biden administration announced Friday, marking the latest major award from a program designed to boost American semiconductor manufacturing.

Emerging-market stocks rallied on Friday, driven by tech companies in Asia, following US data which boosted investor optimism that the world’s biggest economy will avoid a recession.

Earlier this year, around the time Nvidia Corp.’s market cap eclipsed that of the entire S&P 500 energy sector, I wrote about whether oil and gas stocks might offer a decent hedge when AI-fever breaks. The past several weeks have offered a test.

New-home construction in the US fell in July to the lowest level since the aftermath of the pandemic as builders respond to weak demand that’s keeping inventory levels high.

At the end of next year, most of the provisions of the Tax Cuts and Jobs Act of 2017 are set to expire. If nothing is done, taxes will go up. Both presidential contenders say they won’t let this happen and have promised to extend many or most of the law’s changes.

BlackRock Inc. says the market for blended finance has now reached a “turning point,” as it targets growth in deals that combine private and public funding.

In a part of the US market for exchange-traded funds that has become known for increasingly risky products, a new offering has debuted that stands out in the crowd.

A popular yen-centered carry trade that blew up spectacularly two weeks ago is staging a comeback.

Quant traders at Man Group Plc are betting that unlocking the secrets of private markets will give them an edge in trading public stocks.

With US equities on the rebound, this summer’s selloff is looking more like a pause in the bull market than the beginning of its end.

When US Federal Reserve Chair Jerome Powell speaks at next week’s annual economic conference in Jackson Hole, Wyoming, people will be listening intently for any hint about what the central bank will do with interest rates at its September policy making meeting.

If rising layoffs and weakening consumption are going to snowball into a US recession at some point, my interpretation is that the mass of macroeconomic ice crystals is still only about the size of a marble.

Alphabet Inc. investors are facing a long period of uncertainty as they grapple with a scenario they previously saw as unlikely: a possible breakup of Google.

George Soros and Stanley Druckenmiller’s investment firms trimmed their holdings in “Magnificent Seven” stocks before this year’s ebullient run-up in technology companies gave way to a major downturn in mid-July.

Is private equity a problem? To what extent could this class of investment funds, which manages almost $9 trillion worldwide on behalf of everyone from wealthy individuals to California teachers, cause or propagate the next financial crisis?

The inflation numbers this week — both for producer and consumer prices — have served to reassure markets in two distinct ways: confirming continued progress in the battle against high price increases and supporting the ongoing shift in the Federal Reserve’s focus from its inflation mandate to its employment mandate.

Warren Buffett’s longtime business partner Charlie Munger brought quality to value investing. Now Buffett is bringing value to quality investing.

Bond investors pared back their expectations for Federal Reserve interest-rate cuts slightly as data showed US inflation ebbed further in July, reinforcing the case for a quarter-point reduction next month.

Skeptics had long warned that artificial intelligence-related stocks were in a bubble. Now that some of the froth has come off, bulls see an opportunity.

A bid to break up Alphabet Inc.’s Google is one of the options being considered by the Justice Department after a landmark court ruling found that the company monopolized the online search market, according to people with knowledge of the deliberations.

A year after UBS Group AG completed its emergency takeover of failing rival Credit Suisse, the project is faring better than the Swiss bank dared hope. It’s cut unwanted assets, people and costs faster than it promised — enabling it to deliver forecast-beating profits so far in 2024.

The headlines suggest catastrophe for the global food supply: Biblical heatwaves, floods, storms and wildfires. And yet, in the world’s breadbaskets, the weather has been fair this growing season — so good that we’re facing an oversupply of key agricultural commodities and thus much lower prices than in 2022 and 2023.

Regulators and investors have always had a keen interest in the trades that corporates executives and board members make in their companies’ own shares. The government has to look out for the integrity of financial markets, of course, while investors are eager to ride insiders’ coattails. Unfortunately, it’s never been easy to read the insider tea leaves.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he’s skeptical that inflation will return to the Federal Reserve’s 2% target, citing risks including deficit spending and “remilitarization of the world.”

MSCI Inc. continues to cull China stocks from its indexes, setting the stage for a further drop in the nation’s share of a key emerging-market benchmark.

US producer prices rose in July by less than forecast, reflecting the first decline in services costs this year amid an ongoing moderation in inflationary pressures.

When two popular trades, such as buying US big tech stocks and selling the Japanese yen, are unraveling at the same time, investors naturally think they are somehow related.

The tricky last yards of closing in on — and then maintaining — the hallowed 2% inflation target that all the major central banks adhere to requires a change of tactics. Over the past two years, a mantra of economic data-dependency has been drummed into us, keeping interest rates higher for longer.

The benchmark indexes for emerging-market equities and currencies, respectively, moved in opposite directions Monday, deepening a trend that emerged last week, when their short-term correlation was interrupted for the first time in 21 years.

One of the most widely followed gauges of the stock market, for decades a reliable indicator of future returns, has led investors astray in recent years. Its misdirection comes down to the freakish earnings growth of big technology companies such as Apple Inc. and Alphabet Inc. But there’s a way to revamp this market barometer as worries about elevated expectations and prices grow.

The recent decline in mortgage rates on stronger evidence that the Federal Reserve is poised to ease policy has fueled hopes of better times ahead for companies tied to the housing market. That’s likely true, but the evidence of the past few weeks suggests it’s already too late for a revival this year.

First the private credit firms came for the banking industry’s lucrative corporate loan business. Now they’re grabbing a chunk of their consumer-lending work. The pressing question for this thriving multi-trillion dollar industry is whether it has timed its latest incursion badly.

A dizzying start to August, which saw US stocks whiplashed by economic jitters, lackluster earnings and the unwinding of the global yen carry trade, has left Wall Street searching for corners of the market that may have been unfairly punished.

Emerging-market currencies are set to clock their biggest weekly gains of 2024, led by a rise in Brazil’s real on expectations its central bank could raise interest rates later this year.

The Biden administration is nearly finished divvying up $39 billion in grants under the Chips and Science Act, the landmark bipartisan legislation aimed at revitalizing the domestic semiconductor industry. The bigger test still lies ahead.

Warren Buffett’s sudden sale of a huge pile of Apple Inc. shares has come with a surprise silver lining for investors in the iPhone maker: Its influence in major stock indexes is set to be fully unleashed.

When markets gyrated at the turn of the month, US and Japanese stocks had the cushion of an earlier surge to fall back on. In Europe, the rout hit share prices that had been weakening since May. An earnings season dominated by pessimism from many of the region’s bosses has vindicated investors’ caution.

A large majority of economists surveyed see only a quarter-point decrease in interest rates coming in September — a finding that’s at odds with calls from some large Wall Street banks for a jumbo cut at the next meeting.

Back in June, a mystery investor made a record wager on long-dated Treasuries, creating waves in the ETF market where trading pros seek clues about sentiment on Wall Street. Now the firm behind that bet has revealed itself, and says its recession call is finally coming to fruition.

The end of the Federal Reserve’s balance-sheet unwind is in sight, though its actual conclusion depends on the pace of interest-rate cuts and stresses in funding markets.

On the surface, Nvidia Corp.’s $900 billion selloff since its June record would suggest the artificial intelligence spending boom that propelled it there is cooling. But the undercurrents tell a far less dire story.

It only takes a quick glance at the US bond curve to realize something is off. One Treasury security — the 20-year — is detached from the rest of the market. It hovers at yields that are far higher than those on the bonds surrounding it — the 10-year and the 30-year.

It has been a tough earnings season for the technology industry, and markets more broadly.

The stock selloff of the past month is forcing investors to think about whether the market remains too high, and if so, how far it might fall.

Has the US Federal Reserve gone too far in its fight against inflation, tipping the world’s largest economy into a damaging recession?

Investor complacency is often blamed when rising stock markets ignore potentially unsettling data for weeks and then viciously sell off. But this very human-sounding characteristic mostly isn’t in the minds of traders: It’s baked into the structure of modern investment strategies.

Corporate borrowers are selling investment-grade bonds at the fastest clip since 2020 as companies take advantage of lower yields to issue debt before the November election.

Family Feud, a popular game show when I was growing up, would ask contestants to guess how a group of people had answered a specific question. It served as a regular and early reminder for me of the importance of supplementing one’s thinking with external perspectives.

Turmoil in the markets has renewed fears that the US did not escape history after all, that a hard landing — a recession — is coming. Whether this is all a blip from a rising yen or a justified reaction to an actual weakening of the US economy is still unknowable.

Fiscal conservatism has more or less vanished from America’s political landscape. Government borrowing, despite the strong economy, continues to push public debt to record levels – and the presidential contenders and their parties say scarcely a word about it.

For months investors have faced a dilemma — pay through the nose for technology giants trading at eye-watering multiples, or wait for a cheaper entry point and risk missing out on the year’s biggest bull run.

Buying US stocks after a slump of the scale witnessed over the past month has usually been profitable, according to a Goldman Sachs Group Inc. analysis of four decades of data.

A major rally in the $27 trillion Treasury market is laying bare anxiety that the US economy is sliding into recession and the Federal Reserve will need to start aggressively cutting interest rates.

On days like Monday’s dramatic selloff, which capped a three-week loss of $6.4 trillion in global wealth, personal finance experts usually have the same advice for wary retail investors:

For a technology that promises to help businesses cut costs, artificial intelligence has had a big problem with being so costly.

Friday’s weaker-than-expected jobs report has sparked a robust debate about whether the economy is sliding into recession or whether the rise in the unemployment rate in July was due to a continuing post-pandemic normalization of the labor market.

Warren Buffett has been selling a lot of stock, and that revelation is inducing his many admirers to follow suit. His Omaha, Nebraska-based conglomerate, Berkshire Hathaway Inc., reported Saturday that it reduced several positions and slashed its stake in top-holding Apple Inc., a sign to some in markets that the “Oracle of Omaha” was bracing for deep stock-market declines.

The Nasdaq 100 is set for its biggest opening drop in more than four years, with investors bracing for days of volatility amid rising concerns over a slowing US economy and overheated gains in the tech sector.

Global bonds rallied as traders bet the Federal Reserve and fellow central banks will turn more aggressive in cutting interest rates amid mounting concern that economic growth is faltering at a faster pace than expected just weeks ago.

The US stock plunge is vindicating some of Wall Street’s most prominent bears, who are doubling down with warnings about risks from an economic slowdown.

With stock markets plunging around the world, traders are talking up the prospect of an emergency interest-rate cut from the Federal Reserve after the US central bank passed up the opportunity to ease policy last week. Not only is this highly unlikely, it would be counterproductive.

Cryptocurrencies reeled from a bout of risk aversion in global markets on Monday, at one point sending Bitcoin down more than 16% and saddling second-ranked Ether with the steepest fall since 2021.

Jeff Bezos’ wealth slumped by more than $21 billion after Amazon.com Inc. said it planned to continue spending big on artificial intelligence even at the expense of short-term profits.

Municipal bonds extended their rally on Friday after a lackluster jobs number cemented expectations that the Federal Reserve will start cutting interest rates by the end of its next meeting in September.

Wall Street banks are calling for aggressive interest-rate cuts by the Federal Reserve based on the latest evidence that the labor market is cooling.

In markets and economics, you sometimes have to hold two thoughts in your head simultaneously — an important lesson on a day in which the US unemployment rate unexpectedly surged to its highest in nearly three years.

Global investors are gobbling up bonds that can be turned into stocks, feeling good about the prospects and return potentials of smaller companies.

Cassandras seldom get opportunities to be right about two disasters. Even the original Cassandra scored no notable victories after predicting the fall of Troy. But when a seer who successfully called one catastrophe warns of another coming, you might want to listen.

Amazon.com Inc., Microsoft Corp. and Alphabet Inc. had one job heading into this earnings season: show that the billions of dollars they’ve each sunk into the infrastructure propelling the artificial intelligence boom is translating into real sales.

The bond-market rally escalated Friday after a report showed that job growth slowed sharply last month, further stoking speculation that the Federal Reserve will start aggressively cutting interest rates to keep the economy from stalling.

The violent rotation from Big Tech plunged the Nasdaq 100 Index into correction territory, wiping out more than $2 trillion in value in just over three weeks, as traders unwound bets that had been minting money for over a year.

A fifth of Americans are on the hook for an 833% jump in the cost to ensure the lights stay on. The folks being paid that premium, mostly electricity generators in this instance, face that most welcome of problems: What to do with a windfall.

Economists Stephen Miran and Nouriel Roubini are making waves by suggesting in a paper published last week that the Treasury Department has actively engineered easier financial conditions by increasing the issuance of short-term bills and, consequently, reducing the share of longer-term notes and bonds, thereby keeping yields lower than they would otherwise be.

Federal Reserve Chair Jerome Powell signaled central bank officials are on course to cut interest rates in September unless inflation progress stalls, citing risks of further labor-market weakening.

Nvidia Corp.’s wild ride this week is headed for the record books.

Predicting a labor-market downturn was never an easy task. But unique post-pandemic dynamics are making it even harder for economists to determine whether a recent uptick in the unemployment rate is signaling trouble ahead.

US companies added the fewest number of workers since the start of the year and wage growth slowed, consistent with signs of a softer labor demand.

Private equity has been in the news frequently in the last few weeks, and not in a good way.

Which financial assets a central bank should buy and sell is hardly a novel question. Historically, the US Federal Reserve has focused on shorter-term Treasury securities, but quantitative easing had the Fed buying mortgage securities and quality commercial paper in significant quantities. More generally, central banks often hold gold and foreign currencies.

The US Treasury left its quarterly issuance of longer-term debt unchanged for the second straight time, and maintained its guidance that it doesn’t expect to need increasing issuance of notes and bonds for “several quarters.”

History is on the side of stock and bond bulls as Federal Reserve officials kick off a two-day policy meeting.

Canadian entrepreneur Andrew Wilkinson’s early decision to ditch a career as a journalist and teach himself web design has proved lucrative, making him the majority owner of a technology investment firm worth more than $300 million.

Unfortunately, investors have little else to work with given the table scraps of useful data being offered by the tech giants. None of the top companies have yet adequately spelled out the financial performance of AI adoption on their income statements.

Volatility is back — at least a little — heading in to a week filled with central bank interest-rate decisions and quarterly earnings for some of the world’s biggest companies.

Is generative AI worth the money?

For South Korea’s economy, it’s not quite a case of first in, first out. But it could be close: Despite some bullish growth forecasts, interest-rate cuts are coming.

Federal Reserve Chair Jerome Powell recently testified that he’d like to see more good news on inflation before cutting interest rates. He got what he asked for.

When the Federal Reserve signals the likely path of monetary policy to investors this week, including an anticipated start to interest rate cuts in September, it can no longer be complacent about the labor market.

Goldman Sachs Asset Management is launching four new municipal-bond exchange-traded funds, adding to the $129 billion corner of the state and local government debt market.

Money talks, but even $23 billion didn’t convince the founders of Wiz Inc. to sell to Alphabet Inc.

Like it or not, the world is going to fall far short of meeting its current goals for reducing carbon emissions.

San Francisco has been the subject of a lot of negative press over the past several years. It was hit hard by the pandemic exodus from cities, the shift to work from home that emptied offices, the crime and homelessness that marred its national reputation, and pledges by corporate leaders such as Elon Musk to relocate their company headquarters elsewhere.

Pressure is again mounting on the proxy advisory firms that recommend how investors should vote on executive pay and other corporate matters. Regulators need to remember who should be prioritized here — investors, not company management.

US bonds rallied sharply as signs of a slowing economy and a recent stock-market rout fueled calls for quicker interest-rate cuts from the Federal Reserve, further juicing bets on a steeper yield curve.

The assumptions that have driven this year’s global financial markets are being rapidly rethought.

Ether, the second-largest token, paced a drop in digital assets following a slump in equities that spread unease in global markets.

Investors soured on the promise of artificial intelligence Wednesday, sparking a $1 trillion rout in the Nasdaq 100 Index as questions swirled over just how long it will take for the substantial investments in the technology to pay off.

The US inflation rate, which had surged to over 9% two years ago, is now around 3%. Based on current trends, it should settle at 2.5%-3%, a range that most economists would deem consistent with financial stability, including a firm anchoring of inflationary expectations.

Investors flocked to the US Treasury’s monthly sale of two-year notes in a powerful demonstration of faith in Federal Reserve interest-rate cuts beginning this year.

US initial public offerings should get a boost this week from as much as $5.5 billion in first-time equity issuance that could be the opening investors have been clamoring for during this latest new listings slump.

US exchange-traded funds investing directly in Ether achieved overall net inflows of $107 million on their first day of trading in launches that will provide a window onto mainstream crypto demand outside of Bitcoin.

I’ve long been in the “higher for longer” camp, insisting that the US Federal Reserve must hold short-term interest rates at the current level or higher to get inflation under control.

When he took his first space walk, NASA astronaut Reid Wiseman had a revelation. “I used to think I was scared of heights,” he said. “Now I know I was just scared of gravity.”

Regulators approved the first US exchange-traded funds investing directly in Ether, the world’s second-largest cryptocurrency, according to filings and statements from asset managers.

One was in the car with her family, the other had his phone off, when Jamie Dimon began dialing their numbers on a Saturday in January with a question: Could they run a Wall Street operation bigger than Goldman Sachs?

All eyes are on Alphabet Inc.’s earnings report to set the tone for how megacap technology companies fared in the second quarter.

A recent Financial Times opinion piece laid out how illiquidity makes private equity hazardous for investors. The Bank of England’s Nathanaël Benjamin warns private equity illiquidity is a systemic risk to the financial system.

The mortgage lock-in effect ended in the Levin household shortly before my in-laws arrived from Mexico to celebrate my daughter’s birthday at our home in the Miami area. As usual, my wife and I had no place to put them, and they had to get a room at a Courtyard Marriott.

Berkshire Hathaway Inc. has sold off another block of BYD Co. shares, taking its stake in one of the world’s biggest carmakers to under 5% from more than 20% two years ago.

The recent out-performance of US small-caps is facing technical resistance and lacks fundamental drivers to carry on for a longer period of time, according to Morgan Stanley’s chief US equity strategist Mike Wilson.

Canola oil — invented in Canada 50 years ago as a healthier, shelf-stable cooking fat — may soon venture beyond the world’s kitchen cupboards to a spot in the airways.

For the better part of 2024, market commentators have bemoaned the fact that a few mega-capitalization stocks, dubbed the Magnificent Seven, appeared to be carrying the entire US market.

Despite the recent stock market slump that has some Wall Street pros bracing for a summer correction, respondents to Bloomberg’s Markets Live Pulse survey expect the latest round of corporate earnings to reinvigorate the S&P 500 Index.

Netflix Inc. extended its lead over the streaming competition, adding 8.05 million customers in the second quarter and raising estimates for annual sales and profit margins.

After languishing for three decades, Japan is on the cusp of a once-in-a-lifetime opportunity to revitalize its economy through tech innovation and entrepreneurship.

Now that a jobs crisis is weakening his hold on power, how serious is Prime Minister Narendra Modi about reviving India’s factories? We will know in next week’s budget, a chance to remedy a disastrous lurch toward protectionism.

Wheat and corn are the most actively traded grains in financial markets. But they can’t damage the global economy like rice. The staple for half the world is largely ignored by Wall Street, but it’s the one commodity that really matters for global food security.

Netflix Inc. extended its lead over the streaming competition, adding 8.05 million customers in the second quarter and raising estimates for annual sales and profit margins.

American Express Co. warned it’s planning to increase spending on marketing in the coming months after billings growth on the payments giant’s credit cards slowed in the second quarter.

Economists trimmed their US inflation projections through the first half of 2025 and see a slightly higher unemployment rate, a combination they expect will encourage the Federal Reserve to start lowering interest rates.

How’s this for an election trade? Sell your winners now so you have cash on hand this fall to do some aggressive buying as the political jockeying heats up.

Rachel Reeves is going to need some money. The UK’s new Chancellor of the Exchequer has inherited, she says, one of the worst sets of circumstances since World War II.

Copper headed for its worst weekly loss since 2022 and iron ore extended a slump toward $100 a ton as a policy meeting in China failed to lay out more stimulus to shore up metals demand.

There’s a new-found religion in the US airline industry, and investors should be thrilled. It’s called discipline.

Legions of bankers from Hong Kong and London to Dubai and South Africa were caught up in the global IT outage, leaving some unable to log on to computer systems and hobbling others from making trades.

For more than two years, inflation has eclipsed everything else at the Federal Reserve. In a shift eagerly awaited by global markets, that’s poised to change.

Over three decades on Wall Street, Jim Covello has learned how painful it can be to bet against an inflating tech stock bubble. The market has a way of minting riches, month after month, even after it’s clear the latest breakthroughs aren’t playing out quite as expected.

Taiwan Semiconductor Manufacturing Co. lifted projections for 2024 revenue growth after quarterly results beat estimates, reflecting its confidence in the longevity of the global AI spending boom.

Blackstone Inc.’s real estate arm weighed on the investment giant’s second-quarter results, as high interest rates crimped property valuations and investors pumped less money into the business.

At some of the world’s biggest asset managers, ESG fund launches are quietly stalling.

The barbarians are back at the gates. Morgan Stanley and Goldman Sachs Group Inc. are confident that their most important clients are about to get active after a long spell on the sidelines and help goose the long-awaited revival in investment banking fees.

Back in 2021, legions of critics lambasted the Federal Reserve for failing to take proactive and forward-looking steps against the emerging inflation threat. Curiously, many of them have gone silent on the risk that the Fed might get caught flatfooted again, this time by failing to cut interest rates soon enough in the face of weaker inflation and a cooling labor market.

Wall Street is looking beyond the obvious megacap stocks to find the next leg of the artificial intelligence trade.

Tesla Inc. forming an autonomous taxi platform will be the catalyst for a roughly 10-fold increase in its share price, Ark Investment Management LLC’s Cathie Wood said, echoing years of bullish predictions about a business the carmaker has yet to stand up.

At Institutional Investor, keeper of Wall Street’s version of the Oscars for financial analysts, the winner in one category this year is — nobody.

Goldman Sachs Group Inc. and Wells Fargo & Co. joined rival JPMorgan Chase & Co. in the tapping the US investment-grade market after reporting second-quarter earnings.

A growing number of Wall Street economists are cautioning the Federal Reserve is waiting too long to reverse course after raising interest rates to a two-decade high.

Credit markets are breathing a sigh of relief after inflation data showed price pressures are cooling broadly, but a weakening economy poses fresh risks to corporate debt.

Goldman Sachs Group Inc. and Wells Fargo & Co. are joining rival JPMorgan Chase & Co. in the tapping the US investment-grade bond market after reporting second-quarter earnings.

Yield-hungry insurance firms are adopting an unconventional strategy: they’re skipping mortgage-backed bonds and buying the underlying whole loans outright.

It’s been clear since the fall of 2022 that the housing market needed lower interest rates to fix many of its problems including a lack of affordability for buyers, the mortgage rate lock-in dynamic for homeowners, and reduced activity for companies ranging from Home Depot Inc. and Lowe’s Cos. to suppliers of building materials.

Big tech companies have brought the 21st century some of its greatest innovations. Amazon.com Inc., Google search, Apple Inc.’s iPhone and other digital products have made people’s lives immensely more convenient and productive — a consumer benefit worth, by one estimate, more than $2.5 trillion a year. They deservedly dominate their respective markets.

A young colleague came to me recently with a shameful admission: Despite the lecturing of her friends and family, as well as her own best intentions, she had not yet signed up for the company 401(k) plan. She lives in an expensive city and is nervous about tying up her money for the next 40 or 50 years.

Apple Inc. surged to another record high on Monday after the tech giant was named a top pick at Morgan Stanley, with the broker seeing the launch of the company’s artificial intelligence platform triggering a record rush among users to upgrade their smartphones, tablets and computers.

BlackRock Inc. hauled in $51 billion of client cash to its long-term investment funds in the second quarter, pushing the world’s largest money manager to a record $10.6 trillion of assets.

No matter who wins November’s US presidential election, there’s a growing risk that Americans will be paying higher taxes next year, according to MacKay Shields LLC. That makes muni bonds an attractive shield.

Goldman Sachs Group Inc.’s trading unit powered a surge in earnings in the second quarter.

Younger investors are thinking about their investment portfolios all wrong, and it’s not entirely their fault. Ultimately, it’s up to them to recognize where the best long-term returns lie before too much precious time is wasted.

Human nature is such that there are always some folks who put a negative spin on obviously good news.

The clubby world of private credit seems to be running out of space for the little guy.

Treasury yields tumbled after benign inflation data renewed confidence that the Federal Reserve will cut interest rates at least twice this year.

President Joe Biden, as you’ve no doubt heard, has had a rough few weeks. Yet on Tuesday, he signed a bill into law that could well prove transformative for America’s energy future. Here’s hoping — whatever happens in November’s election — that more progress lies ahead.

Thursday’s wildly encouraging consumer price index report shows that the Federal Reserve should be cutting policy rates at its meeting later this month. Unfortunately, they’ll probably keep us waiting until September.

The boom in portfolio trading is starting to creep into the market for state and local government debt.

As Pete Stavros addressed the private equity industry’s yearly shindig in Berlin last month, the KKR & Co. executive’s words were slightly less headline grabbing than those of Apollo Global Management’s co-president Scott Kleinman. But they were just as troubling.

Bond investors who’ve been positioning for a rally in the Treasury market are now looking for an endorsement from Thursday’s US inflation data.

Investors are growing increasingly concerned that US technology megacaps are spending too much on artificial intelligence, according Goldman Sachs Group Inc. strategists.

Bain Capital and Reverence Capital Partners have agreed a deal to take Envestnet Inc., a provider of wealth-management software, private.

One after another, the money-making trading formulas for China’s quantitative hedge funds are disappearing.

European stocks edged higher, extending gains into a second day, ahead of a key US inflation print that’s expected to show price pressures continuing to ease.

By some metrics, the US financial system is in great shape. All 31 banks that underwent the Federal Reserve’s stress tests this year maintained adequate capital even in a “severe” economic scenario.

Investors attach a $2.3 trillion valuation to Alphabet Inc. for its status as an internet search behemoth and AI innovator. Yet even that massive figure underplays YouTube’s true worth, according to analysts at Needham & Co.

Life has been getting busier for investment bankers, but dealmakers aren’t cashing any checks yet. A stream of big-ticket merger and acquisition announcements this year bodes well for future revenue and bonuses, but no one gets paid until deals are completed. And that might not happen until late 2024 or even next year.

Piper Sandler & Co. is eliminating its price target for the S&P 500 Index. Its Wall Street counterparts should follow suit.

Tracking down those in the technology industry cautious about artificial intelligence is much like looking for Republicans in San Francisco: There’s plenty of them out there, if you’d care to ask. And lately, they seem to be growing in number.

Microsoft Corp. and Apple Inc. dropped plans to take board roles at OpenAI in a surprise decision that underscores growing regulatory scrutiny of Big Tech’s influence over artificial intelligence.

Traders should brace for a significant pullback in the stock market as uncertainty swirls around the US presidential campaign, corporate earnings and Federal Reserve policy, according to Morgan Stanley’s Mike Wilson.

Struggling under the weight of interest rates, highly-levered assets within private equity and real estate are promising distressed investors some of the best opportunities in more than a decade, according to Howard Marks, co-chairman and co-founder of Oaktree Capital Management.

If the companies that derive revenue from products and services that help reduce carbon emissions were taken as a single industry group, they would have had the second-best financial performance of any equity sector over the past decade.

The world’s largest technology stocks drove a banner first half for the S&P 500. The question for the rest of the year is whether their strength continues.

America’s housing crisis is often portrayed as a matter of supply. Depending on whom you ask, the shortfall is anywhere from 1.5 million to 7 million homes. Much of the policy debate focuses on how to close that gap.

Markets today pose a new existential question: Can there be a bubble in something if it has no price?

The oil company declared its traditional business was all but over. “The demand for fossil oil products will continue to decline,” it said in late 2020 as the pandemic slashed consumption. Even when Covid-19 is over, consumption wouldn’t “recover to previous levels.”

Taiwan Semiconductor Manufacturing Co. rose to a record intraday high in Taipei after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings.

The bond trade that some of Wall Street’s biggest banks say will dominate the rest of 2024 is gaining steam before a crucial inflation reading that will help seal the wager’s fate.

Jerome Powell will face pressure this week from lawmakers growing impatient for the Federal Reserve to cut interest rates and others who are unhappy with its latest plan to boost capital requirements for Wall Street lenders.

Hedge funds piled into short bets against Tesla Inc. right before the electric vehicle maker unveiled a set of numbers that triggered a hefty share-price rally.

The Canadian labor market unexpectedly lost jobs for the second time in four months, keeping the central bank on track to further cut rates this year.

Last week, the Supreme Court overturned a decades-old legal doctrine that gave federal regulators the power to interpret unclear laws. This touched off a lot of wild rhetoric about the end of the administrative state.

Worried that inflation is coming down too gradually? The Romans had a not-so-subtle solution: Anyone suspected of ratcheting up prices faced execution. If you’re currently anxious about declining fertility across today’s major economies, they had an answer for that, too: Celibacy was discouraged among women, Vestal Virgins excluded. Offenders might forfeit their inheritance.

On the surface, the US employment report for June looked pretty good. Some 206,000 jobs were added, which exceeded the 190,000 median estimate of more than five dozen economists surveyed by Bloomberg. Also, wage growth continued to moderate, easing concern that fast-rising earnings would underpin inflation.

New British Prime Minister Keir Starmer promised a government of “stability and moderation” after leading his Labour Party to a landslide election victory that ended 14 years of Conservative rule that became characterized by turmoil and infighting.

Between McDonald’s $5 value meal, Taco Bell’s $7 cravings box and budget breakfasts from Starbucks and Wendy’s Co., fast food chains are fighting hard to win over hungry Americans this summer. Why now? It comes down to price-sensitive customers voting with their wallets and forcing companies to chase traffic to grow revenue and profits.

MegazoneCloud Corp. has selected firms including a unit of JPMorgan Chase & Co. to help it kickstart an initial public offering that could value one of Asia’s biggest cloud and AI services companies at several billion dollars.

Tesla Inc. shares are set to extend gains for an eighth consecutive session on Friday, putting the stock of the world’s most valuable automaker on track to turn positive for the year.

US Treasuries gained, pushing yields lower, after a mixed report on the US labor market left traders holding tight to bets that Federal Reserve officials will lower interest rates this year.

In trying to block China’s climb up the ladder of technological sophistication, the US may inadvertently be giving its rival a hand up.

US hiring and wage growth stepped down in June while the jobless rate rose to the highest since late 2021, bolstering prospects that the Federal Reserve will begin cutting interest rates in coming months.

Ever since Rishi Sunak’s rain-sodden announcement to call a general election on July 4, one question has hung over British politics: Will Labour win by a landslide or just a regular majority?

A US-led effort to gradually disconnect trade ties with China, rising costs, and a broader understanding of the need to diversify production is driving manufacturers to invest in alternative locations.

Gold headed for a back-to-back weekly gain on expectations that the Federal Reserve will trim interest rates before year-end, with traders looking ahead to US payrolls data for the next batch of clues on the outlook.

Federal Reserve Bank of New York President John Williams said that while inflation has cooled recently toward the Fed’s 2% target, policymakers are still some distance from their goal.

Jeff Bezos disclosed a plan to unload 25 million additional shares of Amazon.com Inc. worth $5 billion on the day the stock hit a fresh record.

As promised, the European Commission is getting tough on big tech. Buoyed by what it sees as the successful implementation of the General Data Protection Regulation, or GDPR, regulators are now going full tilt with their feistier legislation on anti-competitive behavior and improper use of personal data.

The dearth of private equity deal-making has been a nightmare for big investment banks used to getting 20% to 30% of their total advisory revenue from the industry.

My financial education didn’t have the most auspicious start. I suppose I was lucky that in high school I had a class on basic investing and finance.

Asset managers are optimistic that the SEC will greenlight the first US ETFs that invest directly in Ether as soon as mid-July, saying the back and forth with the regulator remains constructive.

Tesla Inc. is, according to its promoters — very much including Chief Executive Elon Musk — an artificial intelligence giant trapped in a carmaker’s body. That much was evident from quarterly sales and production numbers, and the market’s reaction to them, on Tuesday morning.

Financial giants from Goldman Sachs & Co. to Morgan Stanley and Barclays Plc. are taking a fresh look at how a Donald Trump victory in November could play out in the bond market.

Bridgewater Associates is launching a fund that uses machine learning as the primary basis of its decision-making.

Federal Reserve Chair Jerome Powell said the latest economic data suggest inflation is getting back on a downward path, but added officials would like to see more evidence before lowering interest rates.

Economists and some Federal Reserve officials are increasingly on alert that pain could be on the horizon for American workers amid signs the labor market is losing steam.

Hedge funds were once the hottest investment around, but they’ve long ceded the spotlight to better performers, including private assets, real estate, technology startups and even cryptocurrencies.

How alternative can you get? Historically, conventional fund managers have dealt with the threat from private equity and hedge funds by creating or buying alternative investment funds of their own.

BlackRock Inc. will acquire private capital database provider Preqin for £2.55 billion ($3.2 billion) in cash, as the world’s largest money manager accelerates its push to become a major player in alternative assets.

Shares of the largest US companies are moving wildly out of sync, creating a sense of calm in the S&P 500 Index not seen in years. But it’s a different story when it comes to the rest of the market.

Tesla Inc. is expected to report another quarter of weaker sales, and it’s running out of alibis.

The growing prospect of a Trump presidential victory is making yield curve steepeners an attractive bet as growth will likely slow and inflation quicken under such a scenario, according to Morgan Stanley.

The fallout keeps coming from a door plug that blew off a Boeing Co. 737 Max plane in midair during an Alaska Airlines flight in January.

Jerome Powell is Mr. Yen. He has been for some time, but it has taken a while for the world to catch on.

Oil retreated from a nearly two-month high as traders weighed a weakening physical market against escalating Mideast tensions.

Hype over artificial intelligence, the eagerly anticipated launch of Bitcoin funds, and billions of dollars flowing toward the seemingly unstoppable stock-market surge: ETFs have seen it all and been the beneficiary so far this year.

Bitcoin’s performance is starting to be overshadowed by the Ether and Solana tokens as hype around US cryptocurrency exchange-traded funds shifts to the two smaller digital assets.

US consumer sentiment declined in June by less than initially estimated on expectations inflationary pressures will moderate.

Federal Reserve Bank of San Francisco President Mary Daly said inflation data out Friday indicates monetary policy is working, but said it’s too early to tell when it will be appropriate to lower borrowing costs.

Warren Buffett’s donations to the Bill & Melinda Gates Foundation will stop when he dies, with his daughter and two sons overseeing a new charitable trust, the Wall Street Journal reported Friday.

Tesla Inc. is on the verge of losing a key bragging right it’s held for the past six years: outselling all EV competitors in the US combined.

US Treasuries are headed for their biggest monthly rally of the year after the Federal Reserve’s favored inflation gauge decelerated, bolstering expectations for interest-rate cuts starting this year.

Softening in the measure of inflation favored by the Federal Reserve highlights a slowing economy that’s upping the risk of a policy error by the central bank, Mohamed El-Erian said.

The Federal Reserve’s preferred measure of underlying US inflation decelerated in May, bolstering the case for lower interest rates later this year.

Things just got a little harder for the Securities and Exchange Commission, which henceforth must seek certain civil damages for securities fraud by going to federal court, rather than through its own internal adjudicatory process.

The US trucking market, which has been in recession for more than a year now, is poised to recover … at some unknowable point in the future.

As Apple Inc. prepared to introduce its Vision Pro headset a year ago, the worry at Meta Platforms Inc. was that the hardware geniuses in Cupertino were about to unveil a breakthrough in mixed reality, some new take on a computing platform that Chief Executive Officer Mark Zuckerberg had been trying to crack for more than a decade.

The US government’s finances keep looking worse. The latest Congressional Budget Office projections suggest that it will need to borrow an added $400 billion this year to cover its budget deficit — and trillions more over the next decade.

Big swings in Nvidia Corp. shares have reignited debate about the staying power of the chipmaker’s rally. While the stock’s valuation and threat of competition are major concerns, one variable is key: durability of demand.

FedEx Corp. dropped a bomb on the market Tuesday afternoon with the announcement that it will do an “assessment” of its freight unit. Investors seemed to like the move, pushing up the shares as much as 15%, on the possibility of a windfall and a more pure-play package delivery and logistics company.

The petrodollar died this month -- or so I learnt via the financial blogosphere. In the past fortnight, Google searches for “petrodollar” have spiked to a record, and viral posts about Saudi Arabia ditching the greenback have ricocheted throughout commodity and currency trading rooms. Apparently, a cataclysmic event has ended American economic hegemony.

A long era of easy profits in private equity is gone, and Goldman Sachs Group Inc. is digging in deeper for the harder work ahead.

It took much of the first half of the year for Treasury bond investors to fall in line with a Federal Reserve signaling higher-for-longer interest rates. Now, as they weigh the timing of a second-half pivot, they must also contend with potential wild-card risks from a hotly contested presidential race.

Traders in the US rates options market are embracing a nascent wager on the Federal Reserve’s interest-rate path: a whopping 3 percentage points worth of cuts in the next nine months.

The biggest US banks haven’t waited for this week’s stress tests to signal optimism about their capital levels.

After being so consistently wrong in recent years about how the US economy and households would perform coming out of the pandemic, doomsayers should have learned their lesson. But there they were in full force after Pool Corp. said late Monday that it was lowering its earnings outlook because households aren’t installing backyard swimming pools as they once did.

Big US banks look to be getting their way in the fight over tougher capital rules. The Federal Reserve is talking to other regulators about changes to the updated standards that were proposed last July, according to Bloomberg News, which could mean capital demands increasing by less than one-third of what was originally envisaged.

The artificial intelligence hype that made Nvidia Corp. the world’s biggest company has come with a price for the world’s climate. Data centers housing its powerful chips are gorging power and belching carbon dioxide, and sobering figures now reveal the extent of the problem.

Norinchukin Bank is best known outside of Japan as an investing whale in the market for bonds that package up loans to private equity businesses, known as collateralized loan obligations.

Declines in foreign direct investment in China bolster the thesis that global companies are turning away from the world’s most-important production hub, continuing the trend of decoupling that has policymakers and corporate leaders looking for alternative manufacturing bases. The truth of the nation’s deteriorating importance isn’t so simple.

Every now and then, a company comes along that is so dominant and is growing so quickly that it feels like the only stock anyone cares about. I’m referring, of course, to Nvidia Corp., the chip giant powering artificial intelligence. Its stock has surged 4,000% over the past five years, making it one of the three most valuable businesses in the world alongside heavyweights Microsoft Corp. and Apple Inc.

Bobby Jain has gathered $5.3 billion in commitments for his new multistrategy hedge fund, marking the biggest fundraising haul since ExodusPoint Capital Management’s record debut.

Nvidia Corp. shares showed signs of steadying after a $430 billion selloff sent traders searching for signals as to where the bottom may be.

In the early 2000s, Alok Nanda’s new colleagues called him the “bumper guy.”

New home construction slumped to the weakest level in four years in May, confirming a trend that’s been evolving for the past few months — residential construction is once again acting as a drag on economic growth in the US.

The S&P 500 Index has likely logged most of the gains it will see this year as investors are growing increasingly nervous about the stock market’s rich valuations, according to the latest Bloomberg Markets Live Pulse survey.

Nvidia Corp. is the most expensive stock in the S&P 500 Index, with its shares trading for roughly 23 times the company’s projected sales over the next 12 months.

Just as optimism is growing among investors that a rally in US Treasuries is about to take off, one key indicator in the bond market is flashing a worrying sign for anyone thinking about piling in.

Artificial intelligence startup Anthropic is releasing a new AI model that it calls its fastest and most capable yet in a rivalry with OpenAI.

Sales of existing homes in the US fell for a third straight month in May while prices set another record, underscoring persistent affordability challenges that hobbled the important spring selling season.

Some money managers that buy junk bonds have been pouring money into investment-grade notes instead, because the yields can be almost as high now.

Are you bored with the cash, stocks and bonds in your retirement portfolio? Then perhaps it’s time to spice things up with shares in an NFL outside linebacker.

Private credit investors in Europe are abandoning leveraged plays to try to get ahead of a potential wave of defaults.

The nonpartisan Congressional Budget Office ramped up its estimate for this year’s US budget deficit by 27% to almost $2 trillion, sounding a fresh alarm about an unprecedented trajectory for federal borrowing.

As Russian President Vladimir Putin and Chinese Premier Li Qiang wrapped up separate meetings in Southeast Asia this week, the two partners in the BRICS economic bloc encountered a region keen to join a group seen as a hedge against Western-led institutions.

This summer, countless bankers and financiers will get away to the Hamptons or vacation in Europe. And a handful will be traveling nearly every weekend — to play lacrosse.

Dell Technologies Inc. shares rose on Thursday after Chief Executive Officer Michael Dell said the company is building a “Dell AI factory” for Elon Musk’s startup xAI alongside Nvidia Corp.

Bitcoin slumped to a more than one-month low with this year’s record-breaking rally showing signs of fatigue in the absence of fresh market catalysts.

After being on the frontline of the pandemic, then grappling with an edgy public and a spike in shoplifting, its been a tough few years to work retail. But for Walmart Inc. managers, at least, things are looking up.

Nadeem Meghji was on honeymoon in late 2022 when the biggest storm to have rocked Blackstone Inc.’s property business hit its peak.

The ongoing artificial intelligence frenzy that briefly made Nvidia Corp. the world’s most valuable company this week also drove record inflows into tech funds, said Bank of America Corp. strategists.

Bonds surged after business activity across Europe encountered an unexpected setback, prompting traders to amp up wagers on monetary easing.

Apple Inc.’s record-breaking rally has invited skepticism as to whether its artificial intelligence strategy justifies the stock’s valuation.

Silicon Valley’s “move fast and break things” mantra propelled tech innovation for the internet age. In the era of artificial intelligence, it should take a leaf out of Japan’s playbook and slow down.

Take out the few big tech companies that keep pushing the S&P 500 Index to all time highs and it looks like the engine is running on fumes.

Morgan Stanley is increasing its investments in Latin America as geopolitical conflicts elsewhere in the world give the region increasing prominence in the global economy.

US Treasuries are on the brink of breaking even during a roller-coaster first half of the year.

New home construction in the US slumped in May to the slowest pace in four years, as higher-for-longer interest rates sap the housing industry’s momentum from earlier this year.

The hottest thing in global economics is an oldie but a goodie. This market darling is enjoying enviable growth and sucking in capital from around the world. It possesses a vibrant labor market and a currency that's not just a store of value, but increasingly seen as an ascendant strategic asset. And it’s not the China of yesteryear.

Does anyone in Silicon Valley know the saying, “The bigger they are, the harder they fall?” Perhaps it’s just a matter of time before they will.

Pacific Investment Management Co. expects more regional bank failures in the US because of a “very high” concentration of troubled commercial real estate loans on their books.

US retail sales barely rose in May and prior months were revised lower, pointing to greater financial strain among consumers.

As the monthly nonfarm payroll employment numbers repeatedly blew past economists’ forecasts over the past couple of years, one small sector in particular stood out.

The longer interest rates stay higher, the stronger the case grows for … a carbon tax.

Nvidia Corp. insiders have sold shares worth more than $700 million this year as the stock continues to push deeper into record territory amid unrelenting demand for its chips.

Traders are lavishing billions of dollars on quant-powered stock trades, boosting an investing style that’s struggled to gain traction in an era when simple bets on traditional large-cap indexes have paid off handsomely.

Wall Street strategists are rushing to raise their targets for the S&P 500 Index, but hedge funds are growing increasingly cautious about equities due to the Federal Reserve’s reluctance to cut interest rates, softer economic data and narrow stock market breadth.

A technical trading strategy with a perfect trading record this year is signaling that it’s time to sell long-maturity Treasuries after a rally last week.

The Federal Reserve will begin a review of its monetary policy framework later this year, including a potential reconsideration of the ways it communicates with the public. Of great interest is the fate of the dot plot, an anonymous collection of policymakers’ interest rate projections that generates considerable attention each quarter on Wall Street.

There’s a lot of bubble talk around US stocks. The market has been on fire in recent years. The S&P 500 Index has more than doubled in value since bottoming in March 2020 on Covid fears. It’s also up 14% a year since 2010, including dividends, nearly 5 percentage points a year better than its long-term annual return.

Apple Inc. investors finally have a roadmap for how it will use artificial intelligence — and they’ve responded by pushing the stock toward its best week in more than two years.

The manufacturers of solar equipment, similarly, aren’t in the final analysis providing us with panels of silicon and glass, but machines that can harvest power from the sun. The activities of each group of companies provide a fresh flow of useful energy to the world every year. And by many measures, the solar companies have already overtaken Big Oil.

Group of Seven leaders meeting in Italy this week will pledge to tighten enforcement of their price cap on Russian oil, choke the Kremlin’s future energy projects and reduce Moscow’s revenues from metals, according to a statement seen by Bloomberg.

The Federal Reserve’s move to signal fewer interest-rate cuts this year deepens its divergence from peers who have already begun to ease.

This is turning out to be a “landmark year” for the crypto industry, Binance Holdings Ltd. Chief Executive Officer Richard Teng said, thanks to growing regulatory clarity, more mainstream adoption and the launch of exchange-traded funds tied to Bitcoin.

Artificial intelligence is sweeping across the economy. It’s showing up in the stock market with Nvidia’s meteoric rise, and the marketing blitz around AI is inescapable, whether from software providers peddling the promise of harnessed data to golf-club makers trumpeting an AI design. Narrow AI is now a real tool, and companies are figuring out how to deploy it.

A historically strong start to the year for the US stock market should continue into the second half of 2024, according to JPMorgan Chase & Co.’s asset management division.

JPMorgan Chase & Co.’s asset-management arm raised more than $500 million for a biotech venture-capital fund that will bet on the hottest corner of health care: weight-loss drugs.

Bond traders loaded back up on interest-rate-cut bets — and even the pushback coming out of the Federal Reserve did little to shake their conviction.

When the Hunt brothers cornered the silver market in 1980 by amassing a huge cache of the precious metal, jeweler Tiffany & Co. ran an advertisement in the New York Times denouncing the move: “We think it is unconscionable for anyone to hoard several billion, yes billion, dollars worth of silver and thus drive the price up.”

When Apple Inc. Chief Executive Officer Tim Cook and his top deputies this week unveiled a landmark arrangement with OpenAI to integrate ChatGPT into the iPhone, iPad and Mac, they were mum on the financial terms.

You have to hand it to Apple Inc. After an embarrassing, tone-deaf ad last month that made the company look oblivious to AI’s impact on the world, its marketing department has now rebranded AI as “Apple Intelligence.” It’s a feat of superiority only the company could pull off.

Wednesday is shaping up to be a doozy in the US bond market. Following the release of the consumer price index at 8:30 a.m. in Washington, investors will turn to the Federal Reserve’s policy rate decision at 2 p.m., which includes an update to policymakers’ carefully scrutinized economic projections.

A key measure of underlying US inflation stepped down for a second month in May, a pleasant surprise for Federal Reserve officials looking for signs that they can start to lower interest rates.

Oracle Corp. reported better-than-expected bookings and announced partnership deals with tech rivals, giving a boost to Chairman Larry Ellison’s effort to redefine the software maker as a major competitor in the business of cloud computing.

When JPMorgan Chase & Co. arranged a series of trades to shift the risk of losses from $20 billion of its loans, some of those dangers wound up at a familiar place: rival banks.

General Motors Co. authorized a new $6 billion share buyback plan as improving profitability in its electric vehicle operations allows the automaker to return cash to investors.

Bond traders who have come to terms with the prospect of higher-for-longer interest rates through 2024 are looking toward this week’s Federal Reserve meeting for clues on how to game out 2025 and beyond.

American businesses and consumers started the year thinking interest rates would finally come down, making big plans to buy equipment or a house. Now all of that is on hold, slowing large swaths of the economy for the foreseeable future.

Wall Street’s half-trillion-dollar business cloning quant trades has some surprising new customers: the very firms whose strategies it mimics.

Over the past few years, even as they have been gritting their teeth and complaining about higher prices, consumers have been fueling US economic growth. Now their pandemic savings are gone and the labor market is cooling off, raising the question: How much will the economy slow down?

Whether it’s another move up or a dive down, traders are bracing for added volatility wrought by Wednesday’s dual macroeconomic catalysts: a report on consumer prices in the morning and the Federal Reserve’s rate decision in the afternoon.

A broad equity rally isn’t spilling over into the technology sector, where gains are still concentrated in just a few artificial intelligence winners that have become defensive plays amid an uncertain macroeconomic backdrop.

It’s the moment of truth for Apple Inc.’s artificial intelligence plans — and for the $471 billion rally that has rescued the stock from the doldrums.

A splintering of global supply chains, driven by both political and business considerations, has hundreds of manufacturers and logistics providers debating where to go next. They’d be well advised to take their cues from two Taiwanese companies who’ve led the charge.

Lately the housing market has faced a different conundrum at every turn. This year’s puzzle is the disconnect between an aggressive rise in the number of existing homes for sale and still sluggish transactions.

A Tesla Inc. shareholder sued to challenge an upcoming proxy vote about whether the electric-car maker should move its corporate home to Texas and re-approve a $56 billion pay package for co-founder Elon Musk that was thrown out by a Delaware judge.

Apple Inc. isn’t typically the first to embrace new product categories — as it famously showed with its iPhone, smartwatch and Vision Pro. All those areas were established before the company showed up, but Apple found a way to make its mark.

The US government moved closer to imposing new tariffs on solar cells and panels from Southeast Asia after an agency’s initial determination that American manufacturers are being harmed by cheap imports from the region.

The labor market data is full of conflicting signals, but the big picture is that the US economy is in pretty good shape. That’s worth celebrating, irrespective of what the “good news is bad news for interest rates” crowd tells you.

In its moment of most need, back in 2022, the liquified natural gas market saved Europe. Now, that same LNG market is the continent’s new vulnerability. The good news is that the weakness should be short-lived; the bad news is that it won’t go away before the next winter.

There’s a reason so few hedge fund firms seek a stock market listing: Investors don’t like them. The allure of an economic interest in these money machines is tempered by the risks. First, there’s key-person risk. Many such firms are dominated by a single executive.

Stronger-than-expected US May jobs data closes the door on a July Federal Reserve rate cut, Mohamed El-Erian said.

US exchange-traded funds investing directly in Bitcoin attracted net inflows for an unprecedented 18th straight day, a spurt of demand that has helped to lift the largest digital asset toward a record high.

Treasury yields surged as surprise strength in the US labor market forced traders to pare back their wagers on Federal Reserve interest-rate cuts this year.

Debut US exchange-traded funds for the Ether cryptocurrency may generate much less demand than spot-Bitcoin products, according to analysts, muddying the outlook for the second-largest token.

Cathie Wood said Ark Investment Management is well positioned in artificial intelligence assets, even after her company trimmed back on Nvidia Corp. shares before the rally last year.

US labor costs increased in the first quarter by less than previously reported, reflecting downward revisions to economic output and hours worked and consistent with other signs of moderating activity.

The private equity industry must face up to the reality of lower valuations, according to Apollo Global Management Inc.’s Scott Kleinman.

It’s a tough gig portraying the world’s third-richest person as a victim, but Tesla Inc.’s board of directors are giving it a go.The question is whether the company’s institutional shareholders will be intimidated into buying that story at a pivotal vote on June 13.

Less than 15 months after the world’s most recent banking crisis, regulators in the US and Europe are already poised to roll back reforms aimed at reducing the risk of further financial disasters. It’s a serious mistake.

NXP Semiconductors NV is teaming up with a company partly owned by Taiwan Semiconductor Manufacturing Co. to build a $7.8 billion chip wafer plant in Singapore, marking a boost for the island nation’s tech ambitions.

When a 23-year-old Sam Altman took the stage at Apple Inc.’s annual developer conference in 2008, he gushed about being able to use the company’s new App Store to promote his software, a friend-locating service called Loopt.

Its business is massive, its profits are booming and everyone already knows Nvidia Corp. is the hottest stock on Wall Street.

BlackRock Inc., Citadel Securities and other investors are backing an upstart Texas stock market, laying down a challenge to the New York Stock Exchange and Nasdaq Inc. and signaling a potential boost for a state trying to grab more of the financial services industry.

Intel Corp. Chief Executive Officer Pat Gelsinger took the stage at the Computex show in Taiwan to talk about new products he expects will help turn back the tide of share losses to peers, including AI leader Nvidia Corp.

Fidelity Investments is flexing its muscles in efforts to extract payments from ETF firms in exchange for listing and maintaining their products on its massive platform, stoking industry ire.

Almost two-thirds of Americans considered middle class said they are facing economic hardship and don’t anticipate a change for the rest of their lives, according to a poll commissioned by the National True Cost of Living Coalition.

A global bond rally continued, sparked by signs the world’s biggest economy is cooling, ahead of the crucial next read on the state of the US labor market.

Celebrity fund manager and activist investor Bill Ackman just sold 10% of his investment management company in a deal that valued Pershing Square at $10.5 billion. An initial public offering could come as soon as next year, the Wall Street Journal has reported.

As private equity investment in health care has surged to almost $1 trillion over the past decade — funding new technologies, clinical trials and more — a lack of transparency has made it hard to assess whether the industry is also putting patients at risk.

Investors betting on further US equity gains over the coming months will be disappointed, according to strategists at JPMorgan Chase & Co. Their peers at Morgan Stanley disagree.

Nvidia Corp. and Advanced Micro Devices Inc.’s chiefs showcased new generations of the chips powering the global boom in AI development, deepening a rivalry that may decide the direction of artificial intelligence design and adoption.

GameStop Corp. shares surged after the Reddit account that drove the meme-stock mania of 2021 posted what appeared to be a $116 million position in the video-game retailer.

After relentlessly pursuing $100-a-barrel oil, the OPEC+ cartel has all but thrown in the towel. Whether the U-turn is a tactical retreat, or a strategic shift, is still unclear. But for now its impact would be the same: Oil prices would be somewhat lower and global inflation would ease.

The people who experience the US economy continue to disagree with the people who measure it, and the most likely reason is inflation: Most Americans still see it as a major problem, while most economists don’t. But this debate recently veered from economics to semantics.

Nvidia Corp.’s Jensen Huang will lead a gathering of tech business leaders in Taipei starting Sunday, an unusual opportunity for the industry’s most important executives to come together and figure out the future of computing and AI.

Goldman Sachs Group Inc. sees growing potential for the global market for weight-loss drugs by the end of the decade.

For more than two decades, America has pursued a policy as costly as the New Deal of the 1930s or the Great Society of the 1960s, but with a much narrower aim: cut taxes.

US government bonds rallied Friday, adding to their monthly gain, after benign inflation data kept alive predictions that the Federal Reserve will cut interest rates at least once this year.

Institutional investors have grown tired of paying fees to hedge funds for what they see as “skill-less returns.”

Inflation may not return to the US central bank’s 2% target until mid-2027, according to research from Federal Reserve Bank of Cleveland.

UBS Group AG completed the historic acquisition of its former rival Credit Suisse, marking a new chapter for the Swiss financial sector as the defunct bank has formally ceased to exist.

When people think about the Federal Reserve and interest rates in 2024, one common view is that economic growth and inflation remain too hot to justify rate cuts. Another is that the labor market and inflation continue to cool, and it will soon be time for rate cuts.

Companies going bust, mounting credit card debt, higher mortgage bills.

Global bond investors are coming to terms with the likelihood that interest rates are going to stay high for the foreseeable future.

Dell Technologies Inc. shares have been acting like market-leader Nvidia Corp. of late, and investors are betting the company will see a similar boost from artificial intelligence.

Congress keeps talking about regulating stablecoins but doing nothing. It’s a lapse that poses growing dangers to investors, the financial system and even (perhaps) national security.

To a large and under-appreciated extent, the job of the US Federal Reserve entails chasing an elusive number: r*, or the neutral short-term interest rate. When the Fed’s target rate is above r*, it should restrict growth. When it’s below, it should stimulate economic activity.

Jamie Dimon said he expects problems to emerge in private credit and warned that “there could be hell to pay,” particularly as retail clients gain access to the booming asset class.

Treasuries pared this week’s sharp losses Thursday after inflation gauges in the US first-quarter economic growth data were unexpectedly revised lower.

The latest Nvidia Corp. frenzy is fueling an unprecedented rally in the booming industry of leveraged-up ETFs as retail traders go all-in on the world’s “most important stock.”

The US economy expanded at a “slight or modest” pace across most regions since early April and consumers pushed back against higher prices, the Federal Reserve said in its Beige Book survey of regional business contacts.

The semiconductor industry is a strange field. Play your cards right, and you can turn $60 billion or so of annual revenue into a $2.62 trillion business. Do things differently, and roughly the same volume of sales might translate into $44 billion of market capitalization.

In spite of the highest Federal Reserve policy rates in two decades, the US economy grew about 2.5% last year, unemployment remains low and stocks are near all-time highs, leading many observers to conclude that the economy must have become less interest-rate sensitive — and probably needs permanently high benchmark rates to prevent overheating.

Goldman Sachs Group Inc. has put together $21 billion for private credit wagers, its biggest war chest yet for Wall Street’s buzziest asset class.

BlackRock Inc.’s iShares Bitcoin Trust has become the world’s largest fund for the original cryptocurrency, amassing almost $20 billion in total assets since listing in the US at the start of the year.

A surge in issuance of a type of bond that can convert into stock on maturity is helping revive a hedge fund strategy that was crushed during the financial crisis.

The Commodity Futures Trading Commission appears to have little respect for the power of markets, going by their proposal to ban futures contracts on electoral outcomes.

The big news in the $20 trillion US property market last week was that, for the first time since the financial crisis, investors suffered losses on top-rated bonds backed by the mortgage on an office building.

In a room filled with more than 800 sugar traders, Sally Lyons Wyatt, an executive at consumer researcher Circana, had an important message to deliver: Ozempic is coming for your industry.

Target Corp.’s sales slump last quarter marked the latest example of supposed softening in US consumption, making some stock-market investors jittery that recession could still be in the cards.

Sometimes industries want to be regulated. It’s not that they favor all of the associated restrictions, but that regulation means legitimation. The mere act of passing laws circumscribes some activities as deserving of legal protection.

After an underwhelming start to the year for US electric-vehicle sales, it might seem easy to conclude that the boom times are over. Sales were flat in the first quarter, Ford dramatically scaled back expansion plans and Tesla laid off 10% of its global workforce.

The US stock market is finally as fast as it was about a hundred years ago.

A Silicon Valley startup backed by the US Defense Advanced Research Projects Agency is seeking at least $70 million more from investors in its quest to to develop an ultra-efficient chip for artificial intelligence technology, according to documents reviewed by Bloomberg.

In a market that’s captured the attention of global finance for allegedly making $1 billion for Jane Street Group, many trading firms are employing a relatively simple strategy: short volatility.

To hear the words “Coinbase” and “Supreme Court” in the same breath likely inspires thoughts of the justices jousting over cryptocurrency. But this week’s decision in Coinbase v. Suski is a reminder that even in our clever new era, old principles of contract law often hold sway.

Nvidia Corp. just gave the green light to traders betting that the rally in artificial intelligence computing stocks — not to mention its own — has room to run.

Nvidia Corp., the chipmaker at the center of an artificial intelligence boom, jumped in premarket trading after a bullish sales forecast showed that AI computing spending remains strong.

As Federal Reserve officials stare down the last mile in their campaign against inflation, one key question is becoming increasingly central to the debate: Will goods prices continue to fall?

JPMorgan Chase & Co. is on the hunt to buy a private credit firm to augment its $3.6 trillion asset management arm, as the biggest US bank makes more inroads into Wall Street’s buzziest sector.

Modern cars are equipped with heaps of electronic devices, many of which are designed to reduce the frequency and severity of accidents. But there’s a catch: The high cost of repairing these systems may mean the vehicle is written-off, or totaled, following a crash.

One of the best parts of being a young college graduate, and naïve to the grim realities of the working world, is being deluded about how great your career will be. Maybe you’ll found the next Nvidia, or win the Nobel Prize in your field, or start a charity that will make the world a better place.

The good news is that President Javier Milei seems to be backing away from plans to dollarize the Argentine economy. That is also the bad news.

What happens when the world’s biggest retailer decides it wants what’s yours? Target is about to find out.

With his signature student-loan-forgiveness plan struck down by the Supreme Court, President Joe Biden is pushing to cancel debts by other means. His latest proposal aims to relieve nearly 30 million borrowers, on top of those who’ve received forgiveness under previous initiatives.

The bankruptcy of Steward Health has become the latest cautionary tale about private equity’s involvement in health care. Cerberus Capital Management’s purchase in 2010 of several Massachusetts-based nonprofit hospitals was meant to be a life preserver for the struggling chain, but instead its woes deepened, compromising patient care.

US university students are up to their ears in debt. And, increasingly, so are many US colleges.

Whether traditionally thought of as “hawks” or “doves,” Federal Reserve officials have recently converged to notable uniformity in their policy signaling of high interest rates for longer. This has come at a time when more Wall Street analysts are embracing a wider band of uncertainty for their projections of economic growth and inflation.

Credit bulls are pointing at a set of metrics to show that high-grade bonds have rarely been this cheap, burnishing the appeal of corporate debt at a time when it’s offering little upside over government securities.

A surprisingly strong earnings season for big tech reaches its grand finale Wednesday afternoon when Nvidia Corp., the artificial intelligence chipmaking giant, reports its results and gives a much anticipated outlook that could set the tone for the second half of the year.

Electric vehicles have swiftly gone from a rare bright spot in the fight against climate change to a cause for concern.

More than one in 10 Americans with federal student loans have been approved for some measure of debt relief under President Joe Biden, the White House said, as it announced a new round of forgiveness.

Idanna Appio spent 15 years at the Federal Reserve Bank of New York analysing the history of sovereign debt crises. Now, as a fund manager at the $138 billion First Eagle Investments, she’s reached a conclusion: US Treasury bonds are too risky to hold.

A French artificial intelligence startup, simply called H, has raised $220 million in initial financing from a slew of billionaires and venture capitalists on the promise of building the next generation of powerful AI tools.

Federal Reserve Governor Christopher Waller said he needs to see “several more” months of good inflation figures to begin interest-rate cuts, though recent data suggest progress has likely resumed.

Shadow banking is back. A constellation of less-regulated intermediaries — from insurers to private investment funds — is increasingly taking on the traditional business of banks, making trillions of dollars in risky loans and occupying a central role in the economy.

The consumer price data last week showed a gradual deceleration in housing inflation. Economists expect this will persist for a while as official statistics slowly catch up to moderating market rents.

A global bond rally ignited by signs that inflation in the world’s largest economy is finally slowing once again faces a reality check this week.

When US markets reopen next Tuesday after the long weekend, everything will likely seem normal. It’s only after the close and in the following days that any cracks are expected to appear.

When Thomas Edison wired his own house in Menlo Park, then a tiny village in New Jersey, he fabricated a primitive cable. As insulation he chose a mix of asphalt, linseed oil and beeswax; for the core, copper wire.

Retirement is expensive. If you’re lucky, yours will last a few decades, and you’ll be earning no or very little income. So if you want to have enough money when you retire, you basically have three options: Save more, take more risk with your investments, or work longer.

Geography, it’s often said, is destiny. The paths nations follow though history are written like a script on the patterns of their rocks, rivers, plains and coasts, in ways that often confound the views of the people who inhabit them. It’s rare for a country to escape that geological fate.

One of Wall Street’s most prominent bears has just turned positive on the outlook for US stocks.

Like clockwork, the commodities market worries in May about the strength of oil demand heading into the northern hemisphere summer holiday. Nervousness about the seasonal pickup in oil consumption abounds.

JPMorgan Chase & Co.’s asset management arm has created a new European money market fund focused on public debt, a kind of investment that largely disappeared when interest rates were negative.

Hopes for regime change in Venezuela have surged in recent weeks, the result of a coalescing political opposition and apparent divisions within President Nicolás Maduro’s ruling socialist party ahead of July 28 elections.

The fortunes of Silicon Valley startups rose and fell together like never before in recent years. Partly that was due to the indiscriminate tidal wave of money that washed through venture capital, but it’s also because many business-to-business software startups are closely connected as each other’s customers.

When it comes to Bitcoin ETFs, it’s not just the retail trading crowd that’s taking the plunge. It’s now clear that hedge funds, pension funds and banks have also sprinkled capital into the exchange-traded funds after their blockbuster debut that was more than a decade in the making.

Billionaire investor David Tepper loaded up on beaten-down Chinese stocks last quarter while reducing stakes in high-flying US tech firms, leading hedge fund managers who are slowly warming up to China amid a record gap in valuations between the two markets.

Bitcoin was lumped in with other speculative investments during the run-up of the Federal Reserve’s last tightening cycle, slumping on expectations higher interest rates would damp the appetite for risk.

It’s been close to two years since the Consumer Financial Protection Bureau indicated it was looking to tighten regulations on popular “buy now, pay later” services. Since then, the sector has grown to $300 billion.

Most people have seen robots in human form. The Hollywood version has starred in movies for decades. Now there are videos on the internet of real bipedal robots, whether it’s Elon Musk’s Optimus or the incredibly flexible two-legged robot from Boston Dynamics. Agility Robotics has one with legs that bend back at the knees like a flamingo.

For more than two decades, a simple handshake has shaped how people find information online. It works like this: Websites allow Google’s web crawler to index their content so it can appear in search results.

Everyone is worried about the excessively high level of US government debt. Everyone, that is, except America’s creditors.

The rise of electronic trading and growing popularity of portfolio trading has had an unintended consequence for the US corporate bond market: making private credit even more attractive.

BlackRock Inc.’s Rick Rieder has some advice that bucks conventional wisdom: The best way for the Federal Reserve to temper inflation will be to lower rates, not hold them higher.

This week’s meme-stock pop is a sign that US equity markets are frothy and potentially peaking, according to the latest Bloomberg Markets Live Pulse survey.

Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the less glamorous metal benefits from robust financial and industrial demand.

Huge news from the markets today: The Dow Jones Industrial Average hit 40,000 points for the first time. The number is splashed across financial news sources the world over (including Bloomberg), even though the index closed back below the threshold by the end of trading.

The JPMorgan Chase & Co. chief executive officer said significant price pressures are still influencing the US economy and may mean interest rates will be higher for longer than many investors are expecting. Dimon cited costs linked to the green economy, re-militarization, infrastructure spending, trade disputes and large fiscal deficits.

New US home construction rose by less than forecast in April and permits for new activity dropped, suggesting the recent rise in mortgage rates is giving builders pause.

There was white smoke over the Bureau of Labor Statistics, sort of, on Wednesday morning. The key measures of consumer price inflation for April confirmed expectations for a slight decline, and alleviated growing anxiety over a possible reacceleration. Risk assets across the world spent the rest of the day exhaling deeply.

Active exchange-traded funds have seen record inflows in recent years, taking assets under management to $630 billion.

Aside from the big box bloodbath of 2022, when an abrupt halt in buying left Walmart Inc. sitting on too many sweatpants and patio sets, the world’s biggest retailer has been one of the beneficiaries from inflation.

As artificial intelligence rolls out around the globe, will it drive inflation or deflation? The answer is both — one and then the other, according to JPMorgan Chase & Co.’s new global co-heads of sales and research.

Time and again, Jerome Powell has made it clear. Financial conditions, the Federal Reserve’s key lever for cooling the US economy, are tight.

A measure of underlying US inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.

Here are the key takeaways from the US CPI report for April released Wednesday.

An unfortunate byproduct of the dollar’s unexpected surge has been the revival of a bogey that just won’t die: currency wars. The phrase gets thrown about during periods of dislocation in the foreign-exchange market and has the beauty of meaning whatever the person who utters it desires.

Our holiday from history has come to an end. I am referring not to world peace but to the zero-interest-rate environment so many people expected would last forever.

Alphabet Inc.’s recent results raised hopes that the Google parent can still be a big player in artificial intelligence. Now it has a chance to prove it.

Federal Reserve Chair Jerome Powell said the US central bank needs to be patient as it awaits more evidence that high interest rates are curbing inflation, doubling-down on the need to keep borrowing costs elevated.

US household debt has reached a record and more borrowers are struggling to keep up.

Nothing has been setting the US bond market’s direction this year more than the monthly inflation figures. This week will be no exception.

Wall Street strategists are worried that US stocks are on a trip to nowhere, but that doesn’t mean you shouldn’t go along for the ride.

The biggest US tech stocks are not only a bet on innovation but also a possible hedge against inflation, according to some respondents in the latest Bloomberg Markets Live Pulse survey.

Novo Nordisk A/S plans to sell bonds for the first time in more than two years to help finance its large program to expand production of its blockbuster treatments.

Faced with the greatest challenge of the 21st century, America is giving up.

Everyone is worried about the excessively high level of US government debt. Everyone, that is, except America’s creditors.

Here we go again. Brace for the latest dose of critical data on US inflation over the next three days, as the New York Federal Reserve publishes its monthly survey of consumers’ inflation expectations Monday, followed by the Labor Department’s report on producer prices Tuesday and consumer prices Wednesday.

Google DeepMind has released a new version of AlphaFold, a landmark tool for predicting protein structures, that puts the artificial intelligence software on a path to make breakthroughs in biology research and bolster a business that Google’s AI chief says could be worth north of $100 billion.

Hedge fund firm Deer Park Road Management Co. is set to pounce on beaten-down prices in the residential mortgage market on expectations that the US Federal Reserve will start lowering rates later this year.

When Microsoft Corp. invested more than $10 billion for a chunk of OpenAI, scientists inside its storied research division were rankled about being shoved aside for a newer player from outside the company.

In the US stock market, investors have been conditioned to hold onto their winners. The Magnificent Seven were so-named because most of them — both individually and collectively — have delivered consistently extraordinary returns for a decade or so.

There is broad agreement that the US housing market needs more homes . There is also broad agreement that affordability needs to improve. But it doesn't necessarily follow that we should build more affordable homes.

Oil advanced for a third day to trade at a one-week high as US jobs data supported the case for Federal Reserve rate cuts this year, buoying risk assets including crude.

Apple Inc. will deliver some of its upcoming artificial intelligence features this year via data centers equipped with its own in-house processors, part of a sweeping effort to infuse its devices with AI capabilities.

There’s a persistent mystery about Mark Zuckerberg, and it’s not the one about his new chain necklace. The chief executive officer of Meta Platforms Inc. has spent billions of dollars building powerful artificial intelligence models and is giving that technology away for free.

Anshul Pradhan and Stephen Stanley both saw the current US bond market coming. They just don’t agree on where it’s going.

As the market for initial public offerings bounces back after two lifeless years, investors who’ve been impatiently waiting for their payoff are finally getting some returns.

It probably escaped your attention, but the Internal Revenue Service recently piloted a program to help Americans cope with their notoriously complex tax system.

Insiders at the Magnificent Seven tech companies are following Jeff Bezos and Mark Zuckerberg in realizing gains from the stocks that have largely powered the boom in US equity markets.

Points of Return often argues for caution on stocks. It never argues to get out of them altogether. That’s because history demonstrates that over long time spans it’s very dangerous to be out of the market altogether.

Amazon.com Inc. plans to spend $9 billion expanding its cloud computing infrastructure in Singapore, the latest global tech company to boost investment in Southeast Asia.

The US has revoked licenses allowing Huawei Technologies Co. to buy semiconductors from Qualcomm Inc. and Intel Corp., according to people familiar with the matter, further tightening export restrictions against the Chinese telecom equipment maker.

US chip production is poised to explode in coming years, helping ease a risky dependency on East Asia, according to a projection by the Semiconductor Industry Association.

Investors’ hopes for rate cuts this year have faded. The past quarter’s economic data showed that the inflation battle is not over; whether the Fed eases now depends on the data, a point Jerome Powell and the Federal Reserve have repeated ad nauseam.

At last weekend’s Berkshire Hathaway Inc. annual meeting, one shareholder asked Warren Buffett how his auto insurer Geico might fare in the event that autonomous-driving technology succeeds in slashing the number of accidents, as Tesla Inc.’s Elon Musk suggested it would on an earnings call last month.

Two years after Wall Street’s love affair with fast-twitch stock options began, Bloomberg’s latest Markets Live Pulse survey suggests the unprecedented boom still has room to run — even as almost half of respondents fear an eventual blowup.

For the first time in nearly a generation, fixed income is living up to its name.

An April rout in emerging-market bonds and currencies has some former bulls turning negative on the outlook for the asset class.

When it comes to the current debate over housing affordability, I feel like my position has been clear and consistent: Twelve years ago, I wrote a book called The Rent Is Too Damn High. At the same time, I also have to admit that most Americans do not share my preferred solutions.

Gross was famous for squeezing out extra yield using corporate bonds, mortgages, derivatives and other instruments.

Apple Inc. shares jumped the most in almost a year-and-a-half after the company posted stronger-than-expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.

Treasuries surged and traders ramped up bets on how soon the Federal Reserve will begin to cut interest rates this year after a US labor-market report trailed estimates.

Wall Street analysts see a double-digit upside potential for the S&P 500’s biggest losers this year: real estate stocks.

As the Federal Reserve acknowledges a setback in its inflation fight, one question looms large: Why hasn’t the economy slowed the way policymakers expected?

Here’s a conversation starter ahead of Berkshire Hathaway Inc.’s annual meeting on Saturday: Warren Buffett should buy Boeing Co.

The prospect of higher-for-longer interest rates is weighing on crypto, underlined by deepening Bitcoin losses after the token’s worst monthly drop since the collapse of Sam Bankman-Fried’s FTX empire in November 2022.

Federal Reserve Chair Jerome Powell kept hopes alive for an interest-rate cut this year while acknowledging that a burst of inflation has reduced policymakers’ confidence that price pressures are ebbing.

When Berkshire Hathaway Inc. devotees gather in Omaha on Saturday for its annual meeting, there will be a noticeable void on stage.

ByteDance Ltd.’s Hail Mary legal effort to avoid selling or shutting down TikTok relies on convincing a judge the social network will disappear entirely, squashing the free speech rights of millions of Americans.

The rise of index funds has provided millions of Americans with a cheaper and more efficient way to invest. With more than $23 trillion in assets between them, BlackRock Inc., Vanguard Group Inc. and State Street Corp. have become the top shareholders in many US-listed companies.

Investors are plowing into technology-tracking ETFs at a record clip as conviction builds that the market’s biggest stocks can thrive in almost any economic cycle.

What’s the value of a good story? $82 billion, to judge by Tesla Inc.’s 15% share price gain Monday.

Microsoft Corp. will invest $1.7 billion to build out cloud computing and artificial intelligence infrastructure in Indonesia, betting on Southeast Asia’s biggest economy to spur growth.

Regulators who want to get a grip on an emerging generation of artificially intelligent killing machines may not have much time left to do so, governments were warned on Monday.

A month after the US offered $1.5 billion to restart one shuttered nuclear power plant, there’s a growing sense among officials in the industry and government that it may not be the last.

Last year, the demand for loans from fossil-fuel companies fell 6% year-on-year and that followed a decline of 1% in 2022.

Amazon.com Inc.’s “show-me” moment will arrive on Tuesday when its earnings become the latest litmus test on appetite for heavy artificial intelligence spending.

A batch of exchange-traded funds investing directly in crypto debuted in Hong Kong on Tuesday, heralding potential competition for US Bitcoin products whose popularity stoked a record rally in the digital asset.

Momentum traders are modeled to buy equities over the next week regardless of market direction, according to Goldman Sachs Group Inc.’s trading desk.

America’s experiment with quantitative easing is almost over. This week, the Federal Reserve will likely announce plans to slow the shrinkage of its balance sheet, foreboding the end of a long period in which it sought to stimulate the economy by holding large quantities of Treasury and mortgage securities.

The regular market for US equities runs for 390 minutes on a standard trading day. But at the rate things are going, eventually the last 10 might be the only ones that matter.

Message to bond underwriters: Some big customers are sizing up your ESG credentials.

The sorry state of Britain's equity markets has been well-documented. Across all UK indexes there have been just three initial public offerings so far this year after over 100 de-listings in 2023. The noise that this is only the beginning is getting louder.

The often-cited goal of having a $1 million retirement nest egg needs to be retired itself. Adjusted for inflation , it would take nearly $1.9 million to have the same purchasing power today as in 1999, when the oldest of millennials were just turning 18.

With inflation up, economic growth down and two-year Treasury yields testing 5%, Bill Gross sensed the music in markets was fading, and said it was time to get over the likes of the Magnificent Seven.

Alphabet Inc. closed decisively above a $2 trillion market capitalization for the first time on Friday, as a powerhouse earnings report reassured investors that the Google parent would be a major player in artificial intelligence.

Apple Inc. has renewed discussions with OpenAI about using the startup’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

The dust had barely settled after Silicon Valley Bank’s collapse last year when savvy investors began lining up for a big payout, based on a hastily written government press release.

The US economy is resilient, and it’s bad news for Joe Biden.

Markets are supposed to be forward-looking, so it’s a bit of a mystery that bonds sold off as dramatically as they did on evidence that bad first-quarter inflation was worse than previously understood.