Donald Trump's recent call to exempt Social Security benefits from income taxes is expected to exhaust the reserve funds for both Social Security and Medicare faster than anticipated.
(Bloomberg) -- A rotation into defensive shares coupled with supportive government policies is boosting the appeal of underperforming Chinese health-care stocks.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, Financial WoesSigns of improving sentiment are emer
Traders say bitcoin could drop to $55,000 in the near-term, but favorable Fed policies could set the stage for its next leg up.
Big investors are bracing for this summer's stock market rout to run into the autumn, fearing a broader wave of selling will follow the turmoil sparked by US recession concerns and the Bank of Japan wrong-footing currency speculators. The sudden reversal of crowded equity and foreign exchange trades that generated vicious feedback loops of price drops, volatility and hedge fund selling has eased, with world stocks almost 2% higher so far this week. But asset managers overseeing hundreds of billions of dollars of investments said they were more likely to carry on selling stocks than buy back in, with signs of weakness in the U.S. jobs market and global consumer trends lowering the bar for market aftershocks.
(Bloomberg) -- Shares of Danish vaccine developer Bavarian Nordic A/S jumped, while other medical product makers also rose, after the World Health Organization declared a fast-spreading mpox outbreak in Africa a global health emergency.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor
Coinbase has announced plans to launch cbBTC, a wrapped version of Bitcoin, on its Base network
(Bloomberg) -- Equities in Japan and China advanced, following gains on Wall Street, as investors cheered a string of encouraging economic data points from the world’s three largest economies.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionJohannesburg Mayor Quits Amid Infighting, Financial WoesJapan’
Asian shares were mostly higher Thursday after the latest update on U.S. inflation came in almost exactly as economists expected, and data on Japan’s economy showed relatively healthy growth. Japan’s benchmark Nikkei 225 added 0.8% to finish at 36,726.64. Hong Kong’s Hang Seng declined 0.3% to 17,054.92, while the Shanghai Composite surged 1.0% to 2,877.73.
Morgan Stanley, a major U.S. investment bank, disclosed holding approximately $188 million in shares of BlackRock’s iShares Bitcoin Trust ETF as of June 30.
