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☆ Bo Burnham Is Everywhere. He’s Just Very Good at Pretending to Disappear.
▼ + stars: | 2024-05-13 | by ( Jason Zinoman | ) www.nytimes.com time to read: +1 min

Early in his bold and vexing new reality show, Jerrod Carmichael hears a knock at the door and opens it to find a very tall man in a ski mask and goggles just standing there. But certain comedy fans would come to a different response: Welcome back, Bo Burnham. On “The Jerrod Carmichael Reality Show” (HBO), this lanky masked man is referred to as Anonymous and his voice is disguised. But if this isn’t Bo Burnham, it’s a pretty good impression — or at least, one of him dressed to rob a bank. Except for “Inside” outtakes, he hasn’t shown up in any new work — until, possibly, now.

Persons: Jerrod Carmichael, Bo Burnham, Carmichael, it’s, Burnham

☆ ‘Challengers’ Review: Game, Set, Love Matches
▼ + stars: | 2024-04-25 | by ( Manohla Dargis | ) www.nytimes.com time to read: +2 min

Guadagnino’s latest, “Challengers,” is about a continually changing love triangle involving two besotted men and a sharp, beautiful woman with killer instincts and personal style. Written by the novelist and playwright Justin Kuritzkes, “Challengers” is fairly straightforward despite its self-consciously tortured narrative timeline. It tracks three tennis prodigies — friends, lovers and foes — across the years through their triumphs and defeats, some shared. A rich boy who cosplays as poor (well, at least struggling), Patrick met Art when they were children at a tennis academy. It’s at that point that they met Tashi, then a fast-rocketing star.

Persons: Luca Guadagnino, Tilda Swinton, ”, “, Dario Argento, Justin Kuritzkes, prodigies, Tashi, Mike Faist, It’s, Patrick, Josh O’Connor Organizations: “, U.S . Locations: New Rochelle, N.Y, Flushing , Queens

☆ Inflation, Interest Rates and Oil Prices Have Jolted the Markets
▼ + stars: | 2024-04-19 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

The dollar has strengthened and there are new reasons to worry about a steep increase in the price of oil. Behind many of these changes are two familiar culprits: inflation and interest rates. The possibility of a widening conflict in the Middle East — and of rising oil prices feeding into inflation in the United States — surfaced again on Friday when Israel struck Iran. But consider this: For the first three months of 2024, U.S. stocks rose relentlessly, while bonds posted modest gains, amid expectations of a series of cuts in the short-term interest rates controlled by the Federal Reserve. Now, successive months of high inflation readings have dashed those hopes — or, at the very least, deferred them.

Persons: Bonds, Israel Organizations: Federal Reserve Locations: United States, Iran

☆ Is it last orders for London’s nightlife?
▼ + stars: | 2024-04-06 | by ( Anna Cooban | ) edition.cnn.com time to read: +9 min

London CNN —It’s Thursday, 11.00 p.m., and on a street in London’s Soho district, there’s a loud clatter. “People haven’t got the money,” she told CNN. “That’s when their bills started coming through, the first heating bills from the winter,” he told CNN. Even before the ravages of the pandemic, the number of London’s nightlife venues was in steady decline. They don’t just go out for the sake of going out now,” she told CNN.

Persons: London CNN —, Lesley Lewis, haven’t, ”, Michael Kill, Grazyna, ” Kill, “, —, that’s, Kill’s, Jeremy Joseph, Freddie Mercury, ” Joseph, Jack Henry, Henry, Lutz Leichsenring, Fabian Sommer, Leichsenring, London’s, Sadiq Khan, Amy Lamé, Lamé, Khan, Lamé “, Charlie Fenemer, It’s, Becky Lam, Lam, ” Chris Lau Organizations: London CNN, Staff, CNN, Time Industries Association, York Minister, London, “, ”, German Commission, UNESCO, United Nations, Office, National Statistics, City Hall, Labour, Shady Locations: London’s Soho, London, Wales, Soho , London, Hoxton, London’s, Berlin, “ Berlin, Hong Kong, Soho, Hong, Beijing

☆ What to expect from the March jobs report
▼ + stars: | 2024-04-04 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

ET, when the Bureau of Labor Statistics releases its March jobs report. February brought the unemployment rate within spitting distance of 4%, rising to 3.9% from 3.7% in January. What could come from Friday’s jobs reportFebruary’s jobs report came as yet another surprise to economists. For instance, last month January’s job gains were revised down to 229,000 from the blowout 353,000 that kicked off 2024. The unemployment rate went up by half a percentage point from the post-pandemic low of 3.4% last April.

Persons: lockdowns, it’s, Michael Strain, ’, February’s, Andy Challenger, ”, Allison Joyce, Aaron Sojourner, they’ve, Sojourner, Luke Sharrett Organizations: New, New York CNN, Bureau of Labor Statistics, American Enterprise Institute, BLS, Federal, US, Challenger, “, Department of Labor, Bloomberg, . Upjohn Institute, Employment Research, CNN, Federal Reserve, Getty Locations: New York, outplacement

☆ Noted Tesla bear says Musk's EV maker could 'go bust' and stock is worth $14
▼ + stars: | 2024-04-03 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +5 min

Since 2020, Clean Energy Transition has been short Tesla's stock, meaning Lekander's firm will profit if the automaker's shares fall. Lekander has taken his bearish Tesla call further, suggesting the stock could fall to $14 per share. watch nowIf Tesla's stock hit $14, that would represent around 91% downside from Tuesday's close. Analysts at HSBC and TD Cowen cut their price targets on Tesla's stock on Wednesday. Cathie Wood's Ark Invest bought Tesla stock for some of its funds this week ahead of the first-quarter delivery numbers in a sign of support.

Persons: Elon Musk, Tesla, Antonio Masiello, shorting, Lekander, Tesla's, that's, Richard Windsor, Windsor, Dan Ives, Ives, TD Cowen, Cathie Wood, Tom Narayan, CNBC's Organizations: Fratelli, shorting Elon, CNBC, Wednesday, Clean, Lansdowne Partners, Volkswagen, Radio Free Mobile, Wedbush Securities, HSBC, Invest, RBC Capital Markets Locations: Italy, Rome

☆ If Nvidia Keeps Rising Like This, It Will Be Bigger Than the Global Economy
▼ + stars: | 2024-03-15 | by ( Jeff Sommer | ) www.nytimes.com time to read: +1 min

It’s not a household name quite yet, but anyone who follows the stock market knows at least a little about Nvidia. The company is the wonder of the year, a stock by which all others are measured. Nvidia designs the chips that make artificial intelligence work, and because A.I. is being hailed as the most important technological development since the internet, Nvidia shares have been rocketing since last year. will one day become, but I do pay close attention to the stock market, which values Nvidia at more than $2.2 trillion, making it the third-largest public company in the world behind Microsoft and Apple.

Persons: It’s, I’m Organizations: Nvidia, Microsoft, Apple, Meta, AMD, Taiwan Semiconductor, Intel

☆ A dead Russian spacecraft almost collided with a NASA satellite. The crash could have sent 7,500 bits of debris rocketing around Earth.
▼ + stars: | 2024-03-01 | by ( Morgan Mcfall-Johnsen | Ellyn Lapointe | ) www.businessinsider.com time to read: +7 min

In the worst-case scenario, the collision would have ejected 7,500 bits of debris into low-Earth orbit. Satellite collisions are becoming more likely as the amount of space junk in low-Earth orbit grows. Even the tiniest debris can damage the space station and endanger astronauts, though no astronaut has lost their life due to space debris (yet). The race to clean up spaceThe consequences of space debris are very real, so much so, that the worst-case scenario has a name: Kessler syndrome. TransAstra's capture bags could help solve Earth's space debris problem.

Persons: —, LeoLabs, Darren McKnight, NASA ODPO, Kessler, Astroscale Organizations: Service, Space, NASA, European Space Agency, Federal Communications Commission, Dish Locations: Russia, India

☆ February was a great month for Wall Street. These were our 5 best-performing stocks
▼ + stars: | 2024-03-01 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

NVDA YTD mountain Nvidia (NVDA) year-to-date performance Nvidia was our top-performing stock for February. Shares surged 28.6% in the month on the back of stellar quarterly results and continued investor optimism in generative artificial intelligence. META YTD mountain Meta Platforms (META) year-to-date performance Coming in at No. GEHC YTD mountain GE Healthcare (GEHC) year-to-date performance GE Healthcare shares jumped 24.4% during February, occupying the No. FL YTD mountain Foot Locker (FL) year-to-date performance Foot Locker was the portfolio's fourth-best stock in the month.

Persons: Jim Cramer, Mark Zuckerberg, Locker, Mary Dillon's, Jim Cramer's, Jim, Brendan McDermid Organizations: Federal Reserve, Nasdaq, Dow Jones Industrial, Club, Palo Alto Networks, Wynn Resorts, Nvidia, Facebook, GE Healthcare, Meta, Wall Street, General Electric, Nike, Health, CNBC, Traders, New York Stock Exchange Locations: Wells Fargo, WYNN, FL, New York City, U.S

☆ I catapulted off the deck of a US aircraft carrier in a largely windowless prop plane the Navy's been flying since the 1960s. It was jarring and intense.
▼ + stars: | 2024-02-24 | by ( Jake Epstein | ) www.businessinsider.com time to read: +5 min

Catapulting off an aircraft carrier is a sharp, jarring experience even more intense than the landing, and I recently experienced this firsthand in a US Navy C-2 Greyhound. Jake Epstein/Business InsiderThere were a couple of very small windows on the aging Greyhound, but they were behind me, mostly out of sight. Jake Epstein/Business InsiderAside from facing the wrong way, taking off from Bahrain felt a lot like any other commercial flight I've ever been on. AdvertisementMy first look at the flight deck after landing on the USS Dwight D. Eisenhower. Jake Epstein/Business InsiderSuddenly, we shot up at a force that felt far greater than the catapult launch, gaining a lot of altitude in a quick spurt.

Persons: —, Dwight D, Eisenhower, Houthi, Ike, Jake Epstein, rocketing Organizations: Service, US, Greyhound, Grumman, Navy Locations: US Navy, Bahrain, Red, Iran, Yemen

☆ Russia says it has delivered 200,000 tons of grain to African countries
▼ + stars: | 2024-02-21 | by ( Nimi Princewill | ) edition.cnn.com time to read: +3 min

CNN —The Russian Ministry of Agriculture said Tuesday it had shipped 200,000 tons of grain in humanitarian aid to six African nations, fulfilling the Kremlin’s pledge to the continent last July. Agriculture Minister Dmitry Patrushev said late Tuesday that Burkina Faso, Mali, Eritrea, and Zimbabwe each received 25,000 tons of grain while the Central African Republic and Somalia got 50,000 tons each, Russian state news agency TASS reported. Somalia and Eritrea had previously sourced 90-100% of their grain needs from both Russia and Ukraine before the conflict, according to the UN’s Food and Agriculture Organization (FAO). ‘A strategic donation’The Kremlin’s grain initiative has been described by analysts as a “strategic” move as Putin’s African alliance broadens. So, it’s contestation.”Many African states took a neutral stance on Russia’s invasion of Ukraine in perceived loyalty to the Kremlin.

Persons: Dmitry Patrushev, Vladimir Putin, “, ” Patrushev, ”, Godfrey Kanyenze, Kanyenze, they’ve Organizations: CNN, Russian Ministry of Agriculture, Central African, United, Agriculture Organization, FAO, Labor and Economic Development Research Institute of Zimbabwe Locations: Burkina Faso, Mali, Eritrea, Zimbabwe, Central African Republic, Somalia, United Nations, Turkey, Africa, St . Petersburg, Russia, Ukraine, rocketing

Damron’s design rocketing to internet fame is just one story of how women’s fan apparel has found itself in the spotlight. Within a month, that jacket's designer, Kristin Juszczyk, would score a NFL licensing deal. These meteoric success stories have illustrated the potency of a market for women’s sports apparel that merges fashion and fan culture. “I’m glad more of this stuff can start being made,” Robinson, a Black designer who runs Boujee Basics, says. The upfront costs were too steep for another Black designer, De'fron Fobb, 45, who wanted to craft items when the New Orleans Saints made the Super Bowl in 2010.

Persons: Jake Browning’s, Taylor Damron, Browning’s, Stephanie Niles, ” Damron, Taylor Swift, Travis Kelce’s, Kristin Juszczyk, Swift, Kyle Juszczyk, Simone Biles, Taylor Lautner, Brittany Mahomes, Juszczyk, ”, Tayler Adigun, Adigun, Mariah Carey, Larena Hoeber, ” Hoeber, “ What’s, ’, Niles, Frankie, Sara Gourlay, Zak Miller, they've, Kristin, she’s, ” Miller, Armour, Kiya Tomlin, Mike Tomlin, Alexis Robinson, “ I’m, ” Robinson, “, it’s, De'fron Fobb, He’s, ‘ We’re Organizations: Cincinnati Bengals, Cleveland Browns, Kansas City Chiefs, Miami Dolphins, San Francisco 49ers, NFL, National Breast Cancer Foundation, NBA, Baltimore Sun, Sports, University, Regina, Adidas, Nike, National Hockey League, Pittsburgh Steelers, New Orleans Saints Locations: Carolina, Baltimore, Louisiana

☆ Jude Bellingham: The 20-year-old Englishman leading Real Madrid’s La Liga title charge
▼ + stars: | 2024-02-11 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Jude Bellingham’s debut season at Real Madrid has exceeded all expectations so far, fueling his team’s La Liga title charge. And against Girona on Saturday, the 20-year-old scored another two goals to seal Real Madrid’s decisive 4-0 victory over its unlikely title challenger and go five points clear at the top of the La Liga table. There are few players in the world who can match his movement for his first goal.”Real Madrid was already 1-0 up when Bellingham scored his first of the evening. Jude Bellingham scored Real Madrid's second goal against Girona. “He’s incredible and I hope he keeps scoring goals all campaign,” Vinícius told Real Madrid TV.

Persons: CNN — Jude Bellingham’s, Carlo Ancelotti, Zidane, it’s, Ancelotti, “ Zidane, Bellingham, Vinícius Jr, ’, Jude Bellingham, Pierre, Philippe Marcou, Vinícius, Rodrygo, “, ” Vinícius, “ He’s, he’s, ” Organizations: CNN, Real Madrid, La Liga, Girona, Liga, ” Real Madrid, Real Madrid's, Getty, Bellingham, Real Madrid TV Locations: Bellingham, AFP, Girona

A screengrab from a video, geolocated by CNN to the town of Qaim, Iraq, shows the aftermath of US military strikes in the area according to the Iraqi Military. US officials say the strikes hit four facilities in Syria and three in Iraq, where security officials reported damage in the city of Al-Qaim. The sites allegedly belonged to various Iran-backed militias, which the US blames for the strike in Jordan. The US does not plan to strike inside Iran: A senior official with the Biden administration told CNN the US will not strike inside Iran – only focusing on targets outside of the country. Striking inside Iran would have been a huge escalation, and officials have telegraphed that is unlikely to happen.

Persons: Joe Biden, Lloyd Austin, Biden, Jordan, Douglas Sims, Sims, John Kirby Organizations: CNN, White House, Pentagon, Defense, Air Force, National Security Locations: Qaim, Iraq, Iraqi, Jordan, Syria, Al, Iran, Israel, Lebanon, Yemen, Gen

The US said the attack lasted 30 minutes, hitting 85 targets across seven locations in Iraq and Syria. In 2016, the Iraqi parliament passed a bill recognizing the PMU as a government entity operating alongside the Iraqi military. A screengrab from a video, geolocated by CNN to the town of Qaim, Iraq, shows the aftermath of US military strikes in the area, according to the Iraqi Military. Iraq and Syria condemned the US attack as infringements on their sovereignty that risk fueling regional conflict. “The United States does not seek conflict in the Middle East or anywhere else in the world,” Biden said in a statement Friday, following the strikes on Iraq and Syria.

Persons: Joe Biden, –, Biden, Kennedy Ladon Sanders, Sanders, Matt Rourke, Qaim, Turki Al, John Kirby, Washington, ”, SANA, Kirby, Douglas Sims, “, Mike Johnson, ” Johnson, Jack Reed, Lloyd Austin, ” Biden, Charles Lister, ” Lister, Ebrahim Raisi Organizations: CNN, Hamas, Army, US Army, Dover Air Force Base, House, Hezbollah, Al, US National Security, Syrian, Joint Chiefs of Staff, Iran’s Revolutionary Guard Corps, Iraq’s Armed Forces, United Nations Charter, Republican, Senate Armed, US, Coalition Forces, Austin, Middle East Institute, Iraq Locations: United States, Iraq, Syria, Jordan, Iran, Gaza, Israel, Delaware, Iraqi, Al, ” Syria’s, Deir Ezzor, Gen, Qaim, ” Syria, Washington ,, Tehran

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ The Magnificent Seven stocks led 2023's market. Here's what the pros expect for 2024
▼ + stars: | 2023-12-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

Megacap technology stocks reascended the throne in 2023 after a debilitating 2022 left some investors sour on the outlook for the industry. The stocks are really going to have to show what the next big thing is." Even as it outperformed the market, the e-commerce giant's gains were overshadowed by other large megacaps flaunting their latest AI innovations, with some worrying Amazon may be falling behind on AI technology . Semiconductor companies Intel , Broadcom and Lam Research also look attractive even if Mag 7 stocks maintain their leadership position as AI proliferates, Woods said. "It's a story that is just starting to play out and we're just going to build on it going forward," he said.

Persons: Tesla, Jay Woods, hasn't, Capital's, Woods, aren't, DoorDash, Uber, Neuberger, Dan Flax, Bard, missteps, Gene Munster, Ken Mahoney, Richard Bernstein, wouldn't, Brent Fredberg, we're Organizations: Federal, Nvidia, Amazon, Apple, Microsoft, Meta, Tesla, Freedom Capital, Asset Management, Richard Bernstein Advisors, Brandes Investment Partners, outperformance, Micron Technology, Semiconductor, Intel, Broadcom, Lam Research Locations: GOOGL

☆ German government unveils budget fixes as way out of crisis
▼ + stars: | 2023-11-27 | by ( Christian Kraemer | ) www.reuters.com time to read: +5 min

The government said the spillover effects from the energy crisis that hit in 2022 after Russia's invasion of Ukraine and caused rocketing prices had created an emergency situation that justified suspending the debt brake. The leader of Scholz's SPD urged the government to consider suspending the debt brake next year, a move rejected in particular by the fiscally hawkish Free Democrats (FDP). "The debt brake must remain." The debt brake, introduced after the global financial crisis of 2008-2009, was first suspended in 2020 to help the government support firms and health systems during the COVID-19 pandemic. On Monday he stressed the need to give companies, which have been worried by the uncertainty caused by the budget crisis, clarity as quickly as possible.

Persons: Olaf Scholz, Christian Lindner, Robert Habeck, Annegret, Olaf Scholz's, finalising, Scholz's, Christian Duerr, Bijan Djir, Christian Kraemer, Riham Alkousaa, Amir Orusov, Rachel More, Matthias Williams, Thomas Escritt, Alison Williams, Tomasz Janowski Organizations: Finance, Climate, REUTERS, Free Democrats, ZDF, Greens, Thomson Locations: Berlin, Germany, BERLIN, Ukraine, Sarai, East Germany

☆ Cocaine still Colombia drug gangs' top export despite fentanyl's ascendancy
▼ + stars: | 2023-11-15 | by ( Luis Jaime Acosta | Thomson Reuters | Luis Jaime Has Worked At Reuters For More Than Years. While He Chiefly Covers Colombia'S Armed Conflict | ) www.reuters.com time to read: +2 min

Rocketing consumption of synthetic drug fentanyl in the U.S. has led some - including Colombia's President Gustavo Petro - to forecast declines in cocaine production in the Andean country, the world's leading producer. Coca production is taking place in new areas and fresh trafficking routes are opening up, Zapata said. Ecuador's incoming president, Daniel Noboa, who takes office this month, has promised to confront rising crime in the country, where violence linked to drug trafficking has increased sharply. Colombia hopes to destroy 200 square kilometers of coca crops by the end of the year and seize a record 834 tons of cocaine. "Drug trafficking is changing.

Persons: Luisa Gonzalez, Gustavo Petro, We're, Nicolas Zapata, Petro, Zapata, Daniel Noboa, we've, Luis Jaime Acosta, Oliver Griffin, Marguerita Choy Organizations: REUTERS, Rights, Colombian, United Nations Office, Drugs, Thomson Locations: Putumayo, Colombia, Rights BOGOTA, U.S, Europe, Ecuador

☆ Top bitcoin miners sold everything they produced last month and cashed out some of their own holdings as the token's price surged
▼ + stars: | 2023-11-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Top bitcoin miners sold more tokens than they produced last month, according to data portal The Miner Mag. Thirteen public miners sold $164 million worth of bitcoin, cashing in on its price rally in October. Miners' bitcoin liquidation-to-production ratio last month was 104%, up from 70% over the summer. AdvertisementAdvertisementTop crypto miners capitalized on the surge in bitcoin prices last month, selling more tokens than they produced. According to a post on crypto data portal The Miner Mag, 13 public bitcoin miners, including Hut 8 and Bit Digital, sold a total of 15,492 tokens worth $164 million.

Persons: —, bitcoin Organizations: Miners, Service Locations: Riding, what's

☆ NASA sent a spaceship rocketing by an asteroid — and discovered the space rock has a little baby one dancing around it
▼ + stars: | 2023-11-03 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

NASA sent a spacecraft flying by the Dinkinesh asteroid. The agency discovered that Dinkinesh is actually a binary asteroid system. The Lucy spacecraft discovered that the larger asteroid has a baby asteroid dancing around it. But the Lucy spacecraft returned images showing that the asteroid Dinkinesh is actually a binary asteroid system, meaning there are two asteroids orbiting a common center. Lucy flew by the asteroid system at a speed of 10,000 miles per hour, NASA said.

Persons: —, Lucy, Dinkinesh, Hal Levison, we've, Tom Kennedy Organizations: NASA, Service, Southwest Research Institute, Lockheed Martin Locations: Colorado

☆ How to make an ultra-low-risk 5% return buying bonds
▼ + stars: | 2023-10-27 | by ( Filip De Mott | ) www.businessinsider.com time to read: +4 min

Returns from the Treasury market are growing more attractive with yields hovering near 5%, the highest since 2007. When the government has more trouble finding buyers for new Treasurys, yields will rise to attract interest. For instance, holders can't sell their bonds directly from a TreasuryDirect account. For greater access to the Treasury market, investors can turn to brokerages and some commercial banks, which act as the primary intermediaries of US debt. By using a broker to buy bonds in the secondary market, investors can also add Treasury assets into tax-free accounts, such as a Roth IRA.

Persons: —, Matthew Liebman, Roth Organizations: Treasury, Service, Federal Reserve, Investing.com, Amplius Wealth Advisors, Bloomberg Locations: Brokerages, TreasuryDirect

☆ Bitcoin is surging again
▼ + stars: | 2023-10-24 | by ( David Goldman | ) edition.cnn.com time to read: +2 min

BlackRock applied in June to register a bitcoin spot ETF, which is pending approval. A BlackRock bitcoin ETF would give the cryptocurrency a new sense of legitimacy. “However, it may appear as part of BlackRock’s preparations to launch the ETF soon.”Other companies have also applied for approval to launch similar bitcoin ETFs, including Greyscale Investments. As investors look to diversify their portfolios in uncertain times, some turn to bitcoin, ironically as a kind of digital safe haven. Sometimes dubbed “digital gold,” bitcoin has become a way for investors to branch out beyond traditional stocks and bonds.

Persons: New York CNN —, bitcoin, ”, Samer Organizations: New, New York CNN, BlackRock, Depository Trust, Clearing Corp, Nasdaq, Reuters, Greyscale Investments, US Securities and Exchange Commission, Greyscale’s, DC, of Appeals, SEC, “ Locations: New York, BlackRock, bitcoin

☆ Javier Milei wants Argentina to swap the peso for the US dollar. Here's what that would mean
▼ + stars: | 2023-10-23 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

For years, Argentinians have preferred to pay for many goods and services in greenbacks, rather than with their own collapsing currency, as part of an informal “blue dollar” currency market. To dollarize its economy, Argentina would need to exchange all pesos held by its people and businesses for US dollars, and assign a dollar value to all of its assets and contracts. The Fed would continue to set the cost of borrowing based on the needs of the US economy, not Argentina’s. Practical headacheThere’s another significant snag in Milei’s plan: Argentina doesn’t have enough dollars to ditch the peso. “People would need to take wheelbarrows of cash to convert to dollars,” Sabatini said.

Persons: Javier Milei, Sergio Massa, Argentina’s, JP Morgan, Argentinians, Milei, Natacha, Matias Baglietto, Reuters “ That’s, ” Christopher Sabatini, Kimberley Sperrfechter, ” Sperrfechter, It’s, ” Sabatini, Luis Robayo, Sabatini, ” Organizations: London CNN, National Institute of Statistics, Argentina’s, US Federal Reserve, Economic, Reuters, America, Chatham House, CNN, Capital Economics, International Monetary Fund, Getty, IMF Locations: Argentina, greenbacks, Washington, El Salvador, Panama, Ecuador, United States, Buenos Aires, AFP

☆ Goldman Sachs sees housing starts next year slumping to their lowest level since the early 1990s
▼ + stars: | 2023-10-23 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Slumping demand and surging mortgage rates are likely to lead to the slowest period for housing sales in 30 years, according to Goldman Sachs. Lurking over all the housing market, though, has been the surge in mortgage rates that have come along with the Federal Reserve's efforts to bring down inflation . Mortgage rates have risen in tandem, rocketing from around 3.8% when the Fed started tightening to more than 7.6% nationally now, according to Freddie Mac data. "We expect this 'lock-in' effect to push existing home sales even lower in the coming months and to limit any rebound next year," Walker wrote. After a robust period in the third quarter, Goldman and most of Wall Street expects GDP growth to slow considerably.

Persons: Goldman Sachs, Goldman, Ronnie Walker, Freddie Mac, Walker Organizations: Federal, Fed Locations: U.S

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