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☆ Dollar steady after soft U.S. jobs report; yen starts week on back foot
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +3 min

The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. The dollar was broadly steady on Monday as a soft U.S. jobs report boosted wagers that the Federal Reserve may still cut rates twice this year, while the yen was a tad weaker to start the week. On Monday, the yen weakened 0.43% to 153.62 per dollar in early trading, having touched a three-week high of 151.86 on Friday, as the dollar lost additional ground after the jobs data. But with Japanese authorities choosing last week's quiet periods to intervene in the yen market, traders will be on high alert through the day. Markets are now pricing in 45 basis points of cuts this year, with a rate cut in November fully priced in.

Persons: Jerome Powell, Goldman Sachs Organizations: Federal Reserve, Bank of, Fed, Citi Locations: Japan, Britain, Bank of Japan, U.S

Cryptocurrency exchange Binance founder and CEO Changpeng Zhao speaks at a Binance fifth anniversary event in Paris, France, July 8, 2022. Former federal prosecutor Neama Rahmani agrees, adding that Zhao's personal wealth won't be affected by his sentence. That's a different siutation from Sam Bankman-Fried, the controversial ex-CEO and founder of crypto exchange FTX. Bankman-Fried received a 25-year prison term for crimes connected to the operation of his crypto exchange. "Negative long-term impact on Binance will diminish the value of CZ's investment in the crypto exchange," said Yadav.

Persons: Changpeng Zhao, Reuters Changpeng Zhao, Zhao, Gabriel Abed, Richard Jones, Tre Lovell, Neama Rahmani, David Ryder, Binance, Braden Perry, Sam Bankman, Joshua de Vos, de Vos, Fried, Yesha Yadav, That's, Forbes, he's, Lucas Kiely, Kiely —, —, Yadav, it's Organizations: Staff, Reuters, CNBC, U.S, U.S . Department of Justice, District, Toyota, Bloomberg, Getty, Bank, Commodity Futures Trading Commission, Vanderbilt University, Department, Securities and Exchange Commission, SEC Locations: Paris, France, Seattle, Zhao, Binance, Los Angeles, Seattle , Washington, Dubai, U.S, bitcoin, Iran

Changpeng Zhao, the founder and former CEO of crypto exchange Binance, heads to a Seattle courtroom on Tuesday to learn whether the crimes he admitted to committing will land him in prison for an extended sentence. As part of his plea deal with the Department of Justice, Zhao agreed to step down as CEO. Once a titan of the crypto sector, Zhao grew Binance into the world's largest centralized crypto exchange globally. Unlike rival exchange FTX, which collapsed into bankruptcy when founder Sam Bankman-Fried was criminally charged, Binance has continued to operate. Binance processed a whopping $18.1 trillion worth of trading volume in 2023, according to data from CCData, a crypto market data firm.

Persons: Changpeng Zhao, Zhao, Richard Jones, Binance, Sam Bankman, Fried, Nansen, he's Organizations: Department of Justice, District, Prosecutors, Bank, U.S, Justice Department, Futures Trading Commission, Treasury Department, SEC Locations: Seattle, U.S, CCData, Iran

Changpeng Zhao, former chief executive officer of Binance, arrives at federal court in Seattle, Washington, US, on Tuesday, April 30, 2024. Binance's billionaire founder Changpeng Zhao was sentenced to four months in prison on Tuesday, after pleading guilty to charges of enabling money laundering at his crypto exchange. The sentence in Seattle federal court was significantly less than the three years that federal prosecutors were seeking for Zhao. In November, Zhao struck a deal with the U.S. government to resolve a multiyear investigation into Binance, the world's largest cryptocurrency exchange. The action against Binance and its founder was a joint effort by the Department of Justice, the CFTC and the Treasury Department, though the SEC was notably absent.

Persons: Changpeng Zhao, Binance, Zhao Organizations: U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission, Binance, Department of Justice, CFTC, Treasury Department, SEC Locations: Seattle , Washington, US, Seattle, Binance, U.S

☆ GDP growth slowed to a 1.6% rate in the first quarter, well below expectations
▼ + stars: | 2024-04-25 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Consumer spending increased 2.5% in the period, down from a 3.3% gain in the fourth quarter and below the 3% Wall Street estimate. Net exports subtracted 0.86 percentage point from the growth rate while consumer spending contributed 1.68 percentage points. Excluding food and energy, core PCE prices rose at a 3.7% rate, both well above the Fed's 2% target. Income adjusted for taxes and inflation rose 1.1% for the period, down from 2%. Services spending increased 4%, its highest quarterly level since Q3 of 2021.

Persons: Dow Jones, Jeffrey Roach Organizations: Gross, department's, Analysis, Commerce Department, Federal, Dow Jones, Treasury, Federal Reserve, LPL, Labor Department

☆ U.S. prosecutors seek 36-month sentence for ex-Binance CEO Changpeng Zhao
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Changpeng Zhao, founder and CEO of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris on June 16, 2022. U.S. prosecutors are seeking an above-guidance sentence of 36 months for the former CEO of cryptocurrency exchange Binance on charges of enabling money laundering, according to a sentencing memorandum out late Tuesday. The memorandum, which was filed with the court for the western district of Washington, states that Zhao should serve a higher sentence that suggested under advisory guidelines to "reflect the gravity of his crimes." Under advisory guidelines, Zhao's sentencing would come in at a range of 12 to 18 months in prison. "A custodial sentence of 36 months—twice the high end of the Guidelines range—would reflect the seriousness of the offense, promote respect for law, afford adequate deterrence, and be sufficient but not greater than necessary to achieve the goals of sentencing," U.S. prosecutors said.

Persons: Changpeng Zhao, Zhao, —, Binance Organizations: Viva Technology, Porte de, U.S, Bank, U.S . Securities, Exchange Commission, Commodity Futures Trading Commission Locations: Porte, Paris, Washington, U.S

☆ Stock futures fall after Meta Platforms, IBM report quarterly results: Live updates
▼ + stars: | 2024-04-24 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on April 09, 2024 in New York City. U.S. stock futures fell on Wednesday night after tech juggernaut Meta Platforms reported its latest quarterly results. S&P 500 futures slid 0.6%, and Nasdaq 100 futures dropped 1.1%. Meta Platforms plunged 15% in extended trading after the social media giant issued second-quarter revenue guidance that was lighter than expected. Fed funds futures trading suggests the first cut could take place at the September Fed meeting, according to CME FedWatch Tool.

Persons: Dow Jones, Anastasia Amoroso, Northrop Grumman, Myers Squibb Organizations: New York Stock Exchange, Traders, Dow Jones, Nasdaq, Business Machines, Dow, Federal, FedWatch, Caterpillar, Honeywell, Northrop, American Airlines, Comcast, Merck, Bristol, Myers, CNBC Locations: New York City . U.S

☆ The biggest money managers are flocking to gold as inflation fears intensify
▼ + stars: | 2024-04-18 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Gold futures settled at a record high above $2,400 an ounce this week. The precious metal is coming off its third straight week of gains. Gold is often used as an inflation hedge because of its limited supply. @GC.1 YTD mountain Gold Professional speculators' net-long positions in gold futures and options hovered near the highest level since 2020 as of April 9, according to the Commodity Futures Trading Commission's latest data. The hedge fund star revealed that not only did he own the popular SPDR Gold Trust fund (GLD), but he also bought physical bars.

Persons: James Steel, David Neuhauser, Neuhauser, Greenlight Capital's David Einhorn, Einhorn Organizations: Citi, Investors, HSBC Securities, Gold, Commodity, Livermore Partners, CNBC, Trust, Deutsche Bank Locations: Northbrook , Illinois

☆ Gold is shining ‘bright like a diamond’ and could hit $3,000, says Citi
▼ + stars: | 2024-04-16 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +1 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices continued to hover near record highs days after Middle East tensions flared, boosting the safe-haven appeal of bullion. Gold prices notched another record close Monday, with the most-active June contract for gold futures trading 0.37% higher to settle at $2,383 per ounce, and some say there's more room to run. "The recent gold rally has been aided by geopolitical heat and is coinciding with record equity index levels," Citi wrote in a note dated April 15. Market watchers are closely monitoring a potential retaliation by the Jewish state, which has vowed to "exact a price" from Iran.

Persons: Israel —, Bartosz, Conotoxia Organizations: Co, Citi, U.S . Locations: Bangkok, Thailand, East, Iran, Israel

☆ Asia-Pacific markets fall amid Israel-Iran tensions with spotlight on oil, gold and bitcoin
▼ + stars: | 2024-04-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, Feb. 6, 2024. Asia-Pacific markets slipped Monday as traders weighed the impact of Iran's drone attack on Israel over the weekend, with focus also on key economic data from China and Japan later in the week. The U.S. intervened to directly help Israel shoot down nearly all of the incoming munitions, Biden said in a statement Saturday. India will release its wholesale inflation figures for March later in the day, while China will announce its first quarter GDP numbers on Tuesday. Japan will release its March trade data and inflation numbers on Wednesday and Friday, respectively.

Persons: Joe Biden, Israel, Biden Organizations: Brent, . West Texas Locations: Shibuya, Tokyo, Japan, Asia, Pacific, Israel, China, Iran, U.S, India

☆ Tension in the Middle East, hot inflation rattle stocks. Take these steps to shore up your portfolio
▼ + stars: | 2024-04-15 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Conflict in the Middle East escalated over the weekend as Iran launched drones and missiles at Israel, and traders braced for a response. Investors have already been on edge as of late amid climbing oil prices and recent economic data that shows inflation is remaining sticky. Rockier times could be ahead, too, noted Paul Christopher, head of global investment strategy at Wells Fargo Investment Institute. Tax-loss harvesting involves selling losers in your taxable account and using these losses to offset realized gains within your portfolio. Extending duration involves adding exposure to bonds with greater price sensitivity to changes in rates.

Persons: Paul Christopher, Christopher, rebalancing, Gargi Pal Chaudhuri Organizations: Wells, Wells Fargo Investment Institute, Information Technology, Communications Services, BlackRock, Treasury Bond ETF Locations: Fresh, Iran, Israel, Wells Fargo, BlackRock

☆ Wall Street's scenarios for the Israel-Iran conflict from here and its impact on the oil market
▼ + stars: | 2024-04-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

The oil market has brushed off Iran's weekend air assault against Israel, with futures trading as much as 1.5% lower on Monday. Oil prices could spike above $100 a barrel depending on how Israel responds to the attack, the analyst wrote. Attack 'well-telegraphed' Iran's attack, though unprecedented, did little actual damage as Israel and the U.S. intercepted nearly all the drones and missiles. The Islamic Republic warned, however, it would strike harder next time if Israel responds to the weekend attack. Potential threats include Iran seizing ships associated with Israel in the Strait of Hormuz; Israel attacking Iranian oil and gas assets; or Iran striking energy assets of its neighbors if Israel hits too hard.

Persons: Israel, Maximilian Layton, Layton, Brent, Helima Croft, CNBC's, Natasha Kaneva, Kaneva, Goldman, Daan Struyven, RBC's Croft, Jan Stuart, Piper Sandler, Stuart Organizations: Citi ., Brent, Citi, RBC Capital Markets, RBC, U.S, United Nations, Islamic, JPMorgan, CNBC Locations: Israel, Iran, Damascus, Syria, Tehran, Lebanon, Republic, Islamic Republic, Goldman Sachs, Strait, Hormuz, Iranian

☆ Income investing opportunities emerge as the outlook for rate cuts moves to September
▼ + stars: | 2024-04-11 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

IEI has a 30-day SEC yield of 4.26% and carries an expense ratio of 0.15%. BINC, which is actively managed, has a 30-day SEC yield of 5.6% and a net expense ratio of 0.4%. Investors can use ETFs to tackle that space: Vanguard's Intermediate-Term Corporate Bond ETF (VCIT) has a 30-day SEC yield of 5.33%. There's also the iShares 5-10 Year Investment Grade Corporate Bond ETF (IGIB) , offering a 30-day SEC yield of 5.4%. Hunting dividend payers Higher rates have overshadowed opportunities among dividend-paying stocks, which look less attractive to income investors who can find risk-free yields easily.

Persons: it's, Michael Carbone, Carbone, Gargi Chaudhuri, Collin Martin, There's, Michael Clarfeld Organizations: Dow Jones, Traders, Federal, Treasury Bond ETF, SEC, Schwab Center, Financial Research, Corporate Locations: Chelmsford , Massachusetts, BlackRock, ClearBridge

☆ Stock futures tick higher as key March inflation report looms: Live updates
▼ + stars: | 2024-04-09 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures inched higher Tuesday night as investors await key U.S. inflation data that will inform the Federal Reserve's path on rate policy. During Tuesday's regular trading, investors appeared to be in a holding pattern ahead of the March consumer price index report. The CPI report, which is set to release on Wednesday at 8:30 a.m. Fed funds futures trading data suggests a 42% likelihood that the central bank will hold steady on rates in June, according to the CME FedWatch Tool. In addition to the big inflation report on Wednesday, investors are also looking forward to the meeting minutes from the Fed's gathering last month.

Persons: Dow, Dow Jones, Quincy Krosby, Krosby Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, CPI, Traders, LPL, Delta Air Lines Locations: New York City, Quincy

☆ Stock futures turn higher following third straight day of losses for the Dow: Live updates
▼ + stars: | 2024-04-03 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during afternoon trading on April 02, 2024 in New York City. U.S. stock futures rose Wednesday night after the Dow Jones Industrial Average registered its third straight losing session. Investors' fears that the Federal Reserve may keep rates higher longer have weighed on stocks this week. The result trounced Dow Jones' estimate of 155,000 and spurred investors' fears that rates may indeed stay higher longer. "I don't think that the Fed really has any reason to cut rates.

Persons: Dow, Jerome Powell, Raphael Bostic, Dow Jones, Larry Tentarelli Organizations: New York Stock Exchange, Dow Jones Industrial, Dow, Nasdaq, Federal Reserve, Atlanta Fed, CNBC, Federal, ADP, Treasury, Blue Locations: New York City . U.S, U.S

☆ U.S. job growth totaled 275,000 in February but unemployment rate rose to 3.9%
▼ + stars: | 2024-03-08 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

watch nowJob creation topped expectations in February, but the unemployment rate moved higher and employment growth from the previous two months wasn't nearly as hot as initially reported. Nonfarm payrolls increased by 275,000 for the month while the jobless rate moved higher to 3.9%, the Labor Department's Bureau of Labor Statistics reported Friday. The jobless level increased as the household survey, used to calculate the unemployment rate, showed a decline of 184,000 in those employed. The increase came even though the labor force participation rate held steady at 62.5%, though the "prime age" rate increased to 83.5%, up two-tenths of a percentage point. An alternative jobless measure, sometimes called the "real" unemployment rate, that includes discouraged workers and those holding part-time jobs for economic reasons rose slightly to 7.3%.

Persons: Nonfarm, Dow Jones, Stocks, It's, Liz Ann Sonders, Charles Schwab, Dan North, Jerome Powell Organizations: Labor Department's Bureau of Labor Statistics, Federal Reserve, Dow Jones, Treasury, Government, Futures, Allianz Trade, Capitol

☆ Woman Could Have Prevented Great Recession; Ignored by Wall Street Men
▼ + stars: | 2024-03-04 | by ( Josie Cox | ) www.businessinsider.com time to read: +21 min

The story of Brooksley Born is not only the tale of a remarkable regulator whose Cassandra-like warnings — if heeded — could've prevented the great financial crisis from exploding into raging, ruinous enormity. Not long after she assumed chairmanship of the CFTC, Born started to feel a lingering unease with the rapidly expanding derivatives market. So to Rubin, Born was more of an inconvenience than anything, and she certainly wasn't in his club. Not long after, Treasury officials lobbied Congress to pass legislation preventing the CFTC from being able to regulate the OTC derivatives market. In the months and years that followed, it became increasingly hard to deny that the multi-trillion-dollar OTC derivatives market was the root cause of the great financial crisis.

Persons: Lehman Brothers, jolting, — could've, It's, Potter Stewart, Henry Edgerton, Porter, she'd, Bill Clinton, Clinton, Janet Reno, Brooksley, Michael Greenberger, Born, Gibson, weren't, Robert Rubin, Goldman Sachs, Rubin, Michael Hirsh, Alan Greenspan, Greenspan, Ayn Rand, Hirsh ., Hirsh, Greenspan didn't, braggadocian machismo, lauding Rubin, Lawrence Summers, Arthur Levitt, Josie Cox, Levitt, Summers, Jim Leach, Richard Lugar, —, Bethany McLean, Joe Nocera, Bob Rubin, Born's Cassandra, George W, Bush, Lauren Rivera, Christine Lagarde, Lehman, ABRAMS Organizations: Stanford University, Stanford Law School, Stanford, Appeals, District of Columbia Circuit, Arnold, Futures Trading Commission, American, CFTC, Bankers Trust, Procter, Gamble, Sumitomo, Federal Reserve, Fed, Securities and Exchange Commission, Financial Markets, Abrams, Term Capital Management, Enron, SEC, Born, Northwestern's Kellogg School of Management, Financial, International Monetary Fund, Lehman Brothers, Reuters, Street, The Washington Post, Guardian, Abrams Press Locations: California, Vietnam, United States, Washington, America, ABRAMS , New York

☆ Former New York cop charged with swindling investors in foreign exchange trading fund
▼ + stars: | 2024-02-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +6 min

Peace's office said that as Rodriguez, who was arrested Wednesday, lost an increasing amount of money in trading in foreign exchange, he used money from new investors to pay prior investors their promised investment returns. Ex-cop Jason Rodriguez, 37, is accused of falsely promising investors in his fund, Technical Trading Team, that there would be guardrails to protect the trading risks for their money. That included a vow to never put a maximum of 1% of investors' funds at risk at any given time, the indictment says. A former New York City police officer was indicted for conspiracy to commit wire fraud after he allegedly lied to investors and lost most of the $4.8 million they put into his foreign exchange -focused investment fund, prosecutors said Wednesday. The suit says the defendants lost more than $3 million in trading forex on a leveraged basis, and "misappropriated participant funds for personal use."

Persons: Peace, cryptocurrency, Rodriguez, Attorney Breon, Jason Rodriguez, Benjamin Yaster, Edwin Carrion, Carrion, Danielle Hass, TTT, Defendants Organizations: Attorney, Eastern, of, U.S . Justice, Washington , D.C, Brooklyn U.S, Trading, New York Police Department, NYPD, Attorney's, U.S, Futures Trading Commission, Commodity, CFTC, Investments, CNBC PRO Locations: of New York, Washington ,, New York City, Bellerose , Queens, U.S, Brooklyn, Florida, Colombia, TTT

☆ Dollar firms ahead of busy data week with U.S. inflation in focus
▼ + stars: | 2024-02-26 | by ( ) www.cnbc.com time to read: +4 min

The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that will provide further clues on the global interest rate outlook, with a U.S. inflation reading taking center stage. The kiwi had risen 1.2% last week, helped by broad dollar weakness and the risk of a rate hike from the RBNZ on Wednesday. "If anything, the (data) may be stronger than markets currently expect, and that will likely give a modest boost to the dollar," said CBA's Kong. "But at the same time, any gains in the dollar will likely be pretty modest.

Persons: Carol Kong, Sterling, Jane Foley, CBA's Organizations: Reserve Bank of New, New Zealand, Commonwealth Bank of Australia, of Japan's, U.S, Rabobank, U.S . Commodity Futures, Fed Locations: Japan, Australia, Reserve Bank of New Zealand, China, Asia, U.S

☆ Nvidia earnings, Fed minutes on deck next week as Wall Street assesses interest rate outlook
▼ + stars: | 2024-02-16 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

The Dow Jones Industrial Average, S & P 500 and the Nasdaq Composite each snapped a five-week advance. On average, market strategists on Wall Street anticipate the S & P 500 will end the year at 4,936, according to a CNBC survey . The equal-weighted S & P 500 index is up just 1.7% in 2024, trailing far behind the market-cap weighted benchmark. Initial Claims (02/17) 9:45 a.m. PMI Composite preliminary (February) 9:45 a.m. S & P PMI Manufacturing preliminary (February) 9:45 a.m. S & P PMI Services preliminary (February) 10 a.m. Existing Homes Sales (January) Earnings: Booking Holdings , Live Nation Entertainment , Intuit , Edison International , Dominion Energy , Moderna , PG & E , Keurig Dr. Pepper Friday, February 23, 2024 Earnings: Warner Bros.

Persons: chipmaker, Ayako Yoshioka, Yoshioka, Jerome Powell, Josh Emanuel, everybody's, Emanuel, Russell, They're, Chris Chen, Chen, Dr, Pepper, Nick Wells, Kif Leswing Organizations: Nvidia, CNBC, Dow Jones, Nasdaq, Federal Reserve, Investor, Treasury, Wilshire Associates, American Association of, Insight Financial, Walmart, Home, Alto Networks, Diamondback Energy, Caesars Entertainment, Marathon, Devices, Chicago, PMI, Holdings, Nation Entertainment, Intuit, Edison International, Dominion Energy, Moderna, Warner Bros Locations: U.S, Santa Monica, Calif

☆ As Sam Bankman-Fried awaits prison sentence, FTX customers await a surprise: full repayment
▼ + stars: | 2024-02-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last week that they expect to fully repay customers and creditors with legitimate claims. After the dust settled from FTX's bankruptcy, Solana saw a huge run-up in its price, and it continued to rally after the September report. The bankruptcy estate of FTX has been looking to sell its Anthropic stake, according to a court filing this month. For FTX customers, being made whole, according to a judge's ruling, means getting the cash equivalent of what their crypto was worth in November 2022.

Persons: Sam Bankman, Fried, FTX, Andrew Dietderich, —, Joseph Bankman, Barbara Fried, Brendan Mcdermid, John Ray III, Michael Kives, Braden Perry, FTX's, Ray, we're, It's, Solana, Lewis Kaplan, Elizabeth Williams, Michael Lewis, Lewis, IOUs, Perry, SBF, Renato Mariotti, Mariotti Organizations: Bankman, Federal Court, Reuters, K5 Global, SpaceX, Commodity Futures Trading Commission, CNBC, Alameda Research, U.S . Justice Department's Securities, Commodities, SEC Chari Locations: FTX, Delaware, Plenty, Palo Alto , California, New York City, U.S, Bankman, Solana, Alameda, FTX's, Anthropic, New York, Brooklyn

☆ Michael Gill: Former Trump administration official dies after being shot in carjacking rampage
▼ + stars: | 2024-02-04 | by ( Philip Wang | ) edition.cnn.com time to read: +2 min

CNN —A former Trump administration official who was shot in a deadly string of carjackings in Washington, DC, earlier last week died Saturday, the DC Metropolitan Police Department said in a statement. Michael Gill, 56, was inside his vehicle parked at Mount Vernon Square on Monday when the suspect, identified as 28-year-old Artell Cunningham, got inside the vehicle and shot him, police said. Cunningham shot Vasquez dead and fled the scene in his vehicle before officials say he conducted two more carjacking incidents in Prince George’s County the following morning, MPD Executive Assistant Chief Jeffery Carroll said at a Tuesday news conference. Cunningham was eventually stopped and was fatally shot by two New Carrollton police officers in Maryland on Tuesday. Before his death, Michael Gill worked for the Housing Policy Council, a real estate trade association, for several years, the organization’s president, Ed DeMarco, confirmed in a statement.

Persons: CNN —, Michael Gill, Artell Cunningham, Cunningham, Alberto Vasquez Jr, Vasquez, Jeffery Carroll, Carroll, ” Gill, Donald Trump’s, Kristina, “, Mike, ” Kristina Gill, Ed DeMarco, ” DeMarco, CNN’s Rashard Rose Organizations: CNN, Trump, DC Metropolitan Police Department, Mount, New Carrollton, US, Futures, Commission, Housing, Council Locations: Washington ,, George’s County, Maryland

☆ This fund looks like a surprise winner of the bitcoin ETF approval
▼ + stars: | 2024-02-02 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +3 min

And it still remains the case that bitcoin futures are regulated, and spot bitcoin is not," Simeon Hyman, head of the investment strategy group at ProShares, told CNBC. One theory for why the futures ETF has continued to have success is that there are listed options for bitcoin futures products, but not for the spot products, said Aniket Ullal, head of ETF data and analytics at CFRA. The ProShares futures ETF may also be getting helped by increased action in the futures market itself. To be sure, not all bitcoin futures products are going strong. VanEck announced Jan. 17 that it was liquidating its bitcoin futures ETF.

Persons: FactSet, Simeon Hyman, Aniket Ullal, Ullal, Hyman, it's, Tim McCourt, VanEck, Jan, BITO Organizations: CNBC, CME Group Locations: United States, bitcoin

☆ New details emerge about SEC's X account hack, including SIM swap
▼ + stars: | 2024-01-22 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

The U.S. Securities and Exchange Commission said on Monday that a SIM swap attack was to blame for the breach of its official account on X (formerly Twitter) earlier this month. With access to the phone number, the unidentified individual then reset the account password. "While multi-factor authentication (MFA) had previously been enabled on the @SECGov X account, it was disabled by X Support, at the staff's request, in July 2023 due to issues accessing the account," the SEC said in the statement. The agency had the ability to switch two-factor authentication back on for their X account and were not reliant on X to do so. X owner and CTO Elon Musk mocked the SEC, an agency he has clashed with for years, after the agency's account on X was breached.

Persons: Elon Musk, Department of Homeland Security's, — CNBC's Lora Kolodny Organizations: U.S . Securities, Exchange, SIM, SEC, X, Twitter, SEC's, Federal Bureau of Investigation, Department of Homeland, Infrastructure Security Agency, Futures Trading Commission, Department of Justice, Enforcement

☆ CNBC Daily Open: Down to Davos
▼ + stars: | 2024-01-16 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Asia markets fell, led lower by declines in Hong Kong stocks, as Japan shares cooled off from their record-breaking rally. Georgieva told CNBC on the sidelines of Davos that the world's second-largest economy is facing both short-term and long-term challenges. [PRO] Morgan Stanley picks 'alpha' stocksAlpha stocks are those that can beat the benchmark index, and Morgan Stanley picked its favorite plays in Asia.

Persons: Martin Luther King Day, Goldman Sachs, Morgan Stanley, Robert Holzmann, it's, Mario Centeno, Georgieva Organizations: CNBC, ECB, European Central Bank, Economic, International Monetary Fund, Alpha Locations: Asia, Hong Kong, Japan, Davos, Switzerland, China, Pacific

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