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☆ Wall Street awaits Nvidia's earning report for clues about the chip giant's future
▼ + stars: | 2024-11-20 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, all eyes are on Nvidia's earnings report after the bell and what it says about the chip giant's future. As the world's top provider of AI chips, demand for Blackwell is a bellwether for the industry's appetite for continued investment in AI. Reports of Blackwell chips overheating spooked the market earlier this week. AdvertisementIt's another cost companies investing in AI chips need to consider in addition to the energy required to fuel them, which has been a headache for tech giants . Barclays trimmed earning estimates next year by as much as 10% for some of the biggest buyers of AI chips, like Meta, Amazon, and Alphabet.

Persons: Jocko, we've, Getty, Tyler Le, It's, Matthew Fox, Blackwell, Jensen Huang, —, BI's Emma Cosgrove, There's, hasn't, Howard Lutnick ANGELA WEISS, Howard Lutnick, Cantor Fitzgerald, Julian Robertson, Tiger hasn't, Goldman, Vivek Bantwal, Goldman Sachs, Rebecca Zisser, Rob Kim, Arturo Holmes, Chelsea Jia Feng, Trump's, Elon, colluding, Gary Wang, Sam Bankman, Gina Raimondo, Antony Blinken, Bill Hwang, Dan DeFrancesco, Grace Lett, Ella Hopkins, Hallam Bullock, Amanda Yen, Milan Sehmbi Organizations: Business, Retired Navy, Nvidia, Blackwell, Barclays, Getty, Trump, New, Tiger Management, Partners, Companies, Alexa, Uber, Ticketmaster, Apple, Google, DOJ, International Network of AI, Archegos Capital Management Locations: New York, Silicon, San Francisco, Chicago, London

☆ Nvidia earnings live updates: Wall Street watching consumer demand for Blackwell chips
▼ + stars: | 2024-11-20 | by ( Matthew Fox | ) www.businessinsider.com time to read: +1 min

CFRA Research says investors should temper expectationsJustin Sullivan/GettyAccording to CFRA Research analyst Angelo Zino, investors should manage expectations around guidance for Nvidia's highly anticipated Blackwell launch. Still, Zino expects Blackwell chips will be sold out for much of 2025. "We expect Blackwell to be supply constrained through CY 25, given heightened demand from hyperscalers to support next-generation data centers. In addition to Blackwell expectations/performance concerns that will likely dominate NVDA's Q&A session on the call, we expect investors to dissect any comments on tariffs/Sovereign AI after Trump's victory," Zino said. CFRA Research rates Nvidia at "Buy" with a $160 price target.

Persons: Justin Sullivan, Getty, Angelo Zino, Blackwell, Zino Organizations: CFRA Research, Sovereign, CFRA, Nvidia

☆ Rafael Nadal Davis Cup analysis: Nadal loses to Botic van de Zandschulp of Netherlands
▼ + stars: | 2024-11-19 | by ( Matthew Futterman | Charlie Eccleshare | ) www.nytimes.com time to read: +10 min

Follow live coverage of Rafael Nadal’s last Davis Cup hereMALAGA, Spain — Botic van de Zandschulp beat Rafael Nadal in the Davis Cup quarterfinals at the Palacio de Deportes José María Martín Carpena 6-4, 6-4 Tuesday. The Athletic’s Charlie Eccleshare and Matt Futterman analyze the match…How did Nadal’s serve hinder him? Nadal’s serve is driving him away from tennis more than anything else. Through the first set, Nadal landed 61 percent of his first serves and won 70 percent of those points. Despite four double faults in that set, Van de Zandschulp was serving at 76 percent and winning 90 percent of those points.

Persons: Rafael Nadal’s, Botic van, Zandschulp, Rafael Nadal, Van de Zandschulp, Carlos Alcaraz, Tallon Griekspoor, Alcaraz, Marcel Granollers, Wesley Koolhof, Charlie Eccleshare, Matt Futterman, Carlos Moya, Jorge Guerrero, Nadal, Madrid Matt Futterman, Thomas Coex, Van de Zandschulp’s, couldn’t, “ Rafa, Rafa, ”, birthed Rafael Nadal Charlie Eccleshare, Taylor Fritz, Casper Ruud, ” Van de Zandschulp Organizations: Davis, Palacio, Deportes José María, Nadal, Getty, U.S ., Malaga, Getty Images, Wimbledon, Rafa Locations: MALAGA, Spain, Netherlands, Griekspoor, AFP, Madrid, “

☆ Rafael Nadal retires from tennis at Davis Cup after Spain lose to Netherlands
▼ + stars: | 2024-11-19 | by ( Charlie Eccleshare | Matthew Futterman | ) www.nytimes.com time to read: +5 min

MALAGA, Spain — Rafael Nadal’s professional tennis career is over, his final match a 6-4, 6-4 defeat to Botic van de Zandschulp of the Netherlands at the Davis Cup. AdvertisementNadal had flashes of his old self during the loss to Van de Zandschulp, but they were all too brief. With Nadal out it was left to Carlos Alcaraz to save him and to save Spain. Rafael Nadal retires from tennisRafael Nadal won four Davis Cups with Spain. He retires with 22 Grand Slam titles, second only to Novak Djokovic in men’s tennis history with 24.

Persons: Spain — Rafael Nadal’s, Botic van de Zandschulp, Carlos Alcaraz, Marcel Granollers, Wesley Koolhof, Van de Zandschulp, Nadal, Van de, Alcaraz, Marcus Granollers, courtside, Granollers, Rafael Nadal, Clive Brunskill, Novak Djokovic, Roger Federer, Roland Garros, Robin Soderling, Carlos Moya, Djokovic, Federer, ’, Oscar J . Barroso Organizations: Davis, Nadal, Dutch, Spain, ATP, Wimbledon, Australian, U.S, Federer, Getty Locations: MALAGA, Spain, Netherlands, Alcaraz, Paris

☆ Weak shipbuilding could be the US Navy's Achilles' heel in a war with China
▼ + stars: | 2024-11-17 | by ( Chris Panella | ) www.businessinsider.com time to read: +14 min

The US Navy faces critical shipbuilding problems that could hobble it in a war with China. China's commercial and military shipbuilding capacity overshadows the rest of the world. China has pursued shipbuilding dominance over the past few years, building a massive naval fleet. Long-term investments and solutions are needed to fix the US Navy's shipbuilding problems. US Navy photo by Mass Communication Specialist Seaman Erwinjacob Miciano/ReleasedThe US Navy's shipbuilding woes aren't new, and there simply isn't a quick fix.

Persons: Shelby Oakley, Oakley, Paula Zorensky, Gerald R, Petty, Alex Smedegard, Bryan Clark, who's, Mackenzie Eaglen, Seaman Wesley J, Bryan McGrath, Matthew Funaiole, McGrath, Seaman Erwinjacob Miciano, Lisa Franchetti, Franchetti, John Harris, Campbell Organizations: US Navy, US, Getty Images China, Newport News Daily Press, TNS, Navy, Huntington Ingalls Industries, General Dynamics, Marinette Marine Corporation, of, Pentagon, USS Enterprise, Getty Images Navy, Shipbuilders, GAO, Shelby, Norfolk Naval Shipyard Shipbuilders, Shipbuilders Council of America, Ford, Columbia, Hudson Institute, American Enterprise Institute, Communication, Jiangnan Shipyard, Shipyards, China State Shipbuilding Corporation, China Power, Center for Strategic, International Studies, People's Liberation Army, of Naval Intelligence, Technological, Department of Defense, Pacific . US Locations: China, US Navy, Virginia, Columbia, Shelby West, Jiangnan, Dalian, Huangpu Wenchong, Hong Kong, Hudong, Shanghai, Beijing, Taiwan, Pacific, Japan, South Korea

☆ The election is over, but bettors are still wagering on these 8 political predictions
▼ + stars: | 2024-11-16 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

AdvertisementPrediction markets made a splash during 2024 Presidential election. Billions of dollars were bet on the presidential election outcome via prediction market platforms like Kalshi and Polymarket this year. Here are some political bets to watch on Kalshi and Polymarket now that the presidential election is over. Johnnie Izquierdo/Getty ImagesCurrent odds: Yes (32¢), No (69¢)Betting volume: $285,843Trump ends Gaza war by first 100 days? Mostafa Bassim/Anadolu via Getty ImagesCurrent odds: Yes (47¢), No (54¢)Betting volume: $267,997

Persons: Kalshi, Mike Tyson, Jake Paul, Donald Trump's, Gavin Newsom, Josh Shapiro, Gretchen Whitmer, Pete Buttigieg, Andy Beshear, JD Vance, Anna Moneymaker, Vivek Ramaswamy, Ron DeSantis, Donald Trump Jr, Marco Rubio, Donald Trump, Robert F, Kennedy, Kevin Dietsch, Elon Musk, Steve Bannon, Jared Kushner, Ben Carson, Ken Paxton, Betsy DeVos, Ivanka Trump, Oleg Petrasiuk, Matt Gaetz, Trump, Tom Williams, DOUG MILLS, Karoline Leavitt, Scott Jennings, Tucker Carlson, Alina Habba, Kari Lake, Peter Doocy, Johnnie Izquierdo, Mostafa Bassim Organizations: Democratic, Republican, Libertarian National Convention, RFK Jr, Trump, 24th Mechanised Brigade, AP, United, Trump's, Getty, George Washington University in, George Washington University in Washington DC Locations: Trump's, Ukraine, Florida, Gaza, George Washington University in Washington, Anadolu

☆ Nuclear-powered aircraft carriers would give China's growing navy new reach, and researchers say it's working on the reactor to power one
▼ + stars: | 2024-11-12 | by ( Chris Panella | ) www.businessinsider.com time to read: +6 min

Satellite images and Chinese documents point to work on a nuclear-powered aircraft carrier. AdvertisementResearchers say they found evidence that China has built a prototype nuclear reactor to power a large warship, like an aircraft carrier. "They know that this is the hallmark of technology for propulsion on aircraft carriers." AdvertisementThe first American nuclear-powered aircraft carrier was USS Enterprise, commissioned in 1961. Pu Haiyang/Xinhua via Getty ImagesA nuclear-powered aircraft carrier would extend China's naval reach.

Persons: —, Matthew Funaoile, Funaoile, it'll Organizations: Service, Middlebury Institute of International Studies, Planet Labs PBC, Business, Associated Press, China Ship Research, Design Center, AP, Middlebury Institute of International, China, China Power, Center for Strategic, International Studies, USS Enterprise, Nimitz, Ford, Getty Locations: China, California, Leshan, Mucheng, Sichuan province, Sichuan, Fujian, American, Liaoning, Shandong, Soviet, South, Taiwan, Xinhua

☆ Trump's proposed trade war raises the odds of a US recession to 75%, Wall Street strategist says
▼ + stars: | 2024-11-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Recession risk has jumped to 75% due to the potential for a trade ware under Trump, BCA Research said. Trump's proposed tariffs could lower household income and depress corporate investments. In a Friday note, Berezin increased the probability of an economic recession to 75% from 65%, citing the risk of a new trade war under Trump. On the campaign trail, Trump proposed implementing universal tariffs of 10%-20% on goods imported into the country and a 60% tariff on goods from China. Berezin cited a study from the Budget Lab at Yale that estimates Trump's proposed tariffs could reduce real disposable income for the median US household by $1,900-$7,600.

Persons: Trump's, —, Peter Berezin, Donald Trump's, Berezin, Trump Organizations: Trump, BCA Research, Service, Yale Locations: China

☆ Research reveals China has built prototype nuclear reactor to power aircraft carrier
▼ + stars: | 2024-11-11 | by ( Story The Associated Press | ) edition.cnn.com time to read: +12 min

The project at Leshan is dubbed the Longwei, or Dragon Might, Project and is also referred to as the Nuclear Power Development Project in documents. This satellite image from Planet Labs PBC shows the Nuclear Power Institute of China's Site No. The site is under the control of the Nuclear Power Institute of China, a subsidiary of the China National Nuclear Corporation, which is tasked with reactor engineering research and testing. The research does not, however, provide clues as to when a Chinese nuclear-powered carrier could be built and become operational, she said. Matthew Funaiole, senior fellow at the Center for Strategic and International Studies’ China Power Project, said he doubts China’s next carrier will be nuclear-powered.

Persons: ”, Tong Zhao, Jeffrey Lewis, Jamie Withorne, Sarah Laderman, ” “, Laderman, Li Gang, Yuan Huazhi, China’s, “, Matthew Funaiole, Nick Childs, ” Childs, Childs, Zhao, ” Zhao, Xi Jinping Organizations: Thailand AP, Associated Press, “, Carnegie Endowment, International Peace, Washington , D.C, Middlebury Institute of International Studies, Nuclear, Development, China’s Defense Ministry, Foreign, Ministry, Planet Labs PBC, Nuclear Power Institute, Middlebury, Nuclear Power Institute of China, China National Nuclear Corporation, China Ship Research, Design Center, Development Project, AP, Oslo Nuclear, Open Nuclear Network, PAX, Shandong, Xinhua, US Navy, China’s People’s Liberation Army Navy, Center for Strategic, Studies, Power, Liberation Army Navy’s, International Institute for Strategic Studies, US, International, Pacific, People’s Liberation Army Navy, Defense Department Locations: Bangkok, Thailand, China, Beijing, United States, France, Washington ,, California, Leshan, Sichuan, Mucheng Township, Sichuan Province, Mucheng, Sichuan’s, Chengdu, Soviet Union, Oslo, Vienna, Sanya, Hainan Province, Soviet, Liaoning, Shandong, Fujian, Taiwan, Pacific, South China, China’s

☆ Economists say Trump could give Americans the very thing they voted against
▼ + stars: | 2024-11-10 | by ( Matthew Fox | ) www.businessinsider.com time to read: +6 min

AdvertisementA key sticking point for the 73,479,065 Americans (and counting) who voted for President-elect Donald Trump was inflation. Inflationary promisesThe main Trump proposals viewed as inflationary are: sweeping tariffs on imports, mass deportation of immigrants, and lower taxes. Related storiesTypically, US companies simply pass the tariff costs to consumers via higher prices, and company executives are already signaling this to investors. Possible inflation falloutIf Trump delivers on all of these proposals, then a rebound in inflation is all but guaranteed, economists have said. AdvertisementIt's worth noting that the tariffs Trump enacted in his first term did not result in a significant inflation increase.

Persons: —, Donald Trump, Trump, It's, Taylor Rogers —, Philip Daniele, Timothy Boyle, Wendy Edelberg, Nobel, Paul Krugman, Ned Davis, Veneta Dimitrova, Dimitrova Organizations: Trump, Service, White, Biden, Republican National, Center, Columbia, Washington Post, National Association of Homebuilders, Federal Reserve Locations: China, —

Detailed below is how a second Trump presidency is expected to impact American wallets. Trump's plan to cut the corporate tax rate is generally viewed as bullish for earnings, particularly for the consumer-discretionary, communication-services, and financial sectors. Further, if Trump's presidency is inflationary and leads to interest-rate hikes, that would hit housing affordability in the form of higher mortgage rates, which track the Federal Reserve's benchmark. AdvertisementThe former president has also said he plans to extend his slew of tax cuts from the Tax Cuts and Jobs Act of 2017 — also known as the "Trump tax cut." Trump's plan for universal tariffs is seen as offsetting a positive tax impact and would be especially costly for lower-earning Americans.

Persons: Donald Trump, —, Trump's, Trump, bitcoin, Vance Organizations: Trump, Service, Biden, White

Detailed below is how a Trump presidency is expected to impact American wallets. Trump's plan to cut the corporate tax rate is generally viewed as bullish for earnings, particularly for the consumer-discretionary, communication-services, and financial sectors. Trump's plan for universal tariffs is seen as offsetting a positive tax impact and would be especially costly for lower-earning Americans. Trump has proposed expanding the child tax credit, which currently provides up to $2,000 per child. In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels.

Persons: Donald Trump, —, Trump, bitcoin, Vance Organizations: Trump, Service, Biden, White Locations: Americas

☆ The Polymarket 'whale' banked $48 million in profits on Trump's election win
▼ + stars: | 2024-11-06 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

A French trader profited $48 million betting on Trump's election win via Polymarket. The trader, known as Théo, wagered heavily on Trump winning the Electoral College and the popular vote. AdvertisementThe Polymarket "whale" who bet about $30 million on a Donald Trump election win saw about $48 million in profits, according to data from the crypto-based betting platform. As of Wednesday morning, the Theo4 Polymarket account is sitting on about $22 million in profits. Related VideoMeanwhile, the three other accounts controlled by the whale — Fredi9999, PrincessCaro, and Michie — have a combined $26 million in profits.

Persons: wagered, —, Donald Trump, Michie —, Trump, Théo Organizations: Polymarket, Trump, Electoral College, Service, Wall Street Journal Locations: France

Tingshu Wang | ReutersFrom Apple to Starbucks , U.S. consumer brands are reporting yet another quarter of China sales declines. Apple last week reported Greater China sales fell slightly to $15.03 billion in the three months ended Sept. 28, down from $15.08 billion in the year-ago period. The quarterly sales decline reduced Apple's China revenue share to 15.8% of total net sales, down from 16.9% in the year-ago period. Low consumer confidenceU.S. sportswear giant Nike said that Greater China revenue for the quarter ended Aug. 31 fell by 4% year-on-year to $1.67 billion. In Europe, luxury giant LVMH also felt the drag from the China market.

Persons: Tingshu Wang, Tim Cook, Apple, Brian Niccol, Niccol, Matthew Friend, Jean, Jacques Guiony, Isaac Stone Fish, Cummins, Walt, Fish Organizations: Reuters, Apple, U.S, Starbucks, Nike, Carrier, Coca Cola, RTX Corporation, Honeywell, Walt Disney, Caterpillar Locations: Chengdu, Sichuan province, China, U.S, what's, Hong Kong, Macao, Taiwan, Greater China, Europe, Asia, Japan, COVID, Japan Asia

☆ The surge in election betting has catapulted Kalshi and Polymarket to the top of Apple's App Store
▼ + stars: | 2024-11-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Kalshi and Polymarket catapulted to the most downloaded free apps on the Apple App Store on Tuesday. Kalshi and Polymarket show Trump favored to win the Electoral College, with Harris expected to win the popular vote. AdvertisementKalshi and Polymarket zoomed to the top of the Apple App Store on Tuesday amid a surge in election betting in the waning days of the 2024 US presidential campaign. Kalshi's ascent in the Apple App Store rankings represented a key goal being reached for the company's CEO, Tarek Mansour. 1 for the entire App Store by Election Day, so the demand curve truly is exponential," Mansour told CNBC last month.

Persons: Kalshi, Trump, Harris, —, Tarek Mansour, we're gunning, Mansour, Polymarket, Donald Trump, Kamala Harris Organizations: Apple, Electoral, Service, CNBC, Electoral College Locations: Polymarket

For many Americans, the most important focus heading into a presidential election is how the winner will impact their wallet. Related storiesFor drug prices, Harris has promised to expand two provisions in the Inflation Reduction Act, allowing Medicare to negotiate the prices of some drugs. HarrisHarris' planned policy includes the construction of 3 million new housing units, as well as an expansion to the Low-Income Housing Tax Credit. TrumpTrump has also proposed expanding the child tax credit, which currently provides up to $2,000 per child. In August, the vice presidential candidate JD Vance floated a child tax credit proposal that would include $5,000 per child for families of all income levels.

Persons: Harris, Trump, Trump's, Joe Biden's, Biden, Trump Trump, — Trump, Harris Harris, —, Vance, hasn't Organizations: Trump, Federal Reserve, White, Trump Trump Locations: Americas

☆ The Polymarket 'whale' betting on a Trump win is down $3 million after Harris' odds jumped over the weekend
▼ + stars: | 2024-11-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

The Polymarket "whale" betting on a Trump win had about $3 million in unrealized losses Monday morning. The person controls a significant portion of contracts tied to a Trump win, with about $30 million wagered. AdvertisementThe "whale" placing big bets on Polymarket for Doland Trump to win the presidential election is in the red after betting odds shifted toward Kamala Harris' over the weekend. The Polymarket whale had unrealized gains of about $10 million toward the end of October before Trump's betting odds began to sink. According to data from Polymarket, Théo controls about 25% of the contracts for Trump to win the Electoral College and more than 40% of the contracts for Trump to win the popular vote.

Persons: bettor, —, Doland Trump, Kamala Harris, Théo, Harris, he'd, Trump Organizations: Trump, Service, Business, Iowa, Wall Street, Electoral College Locations: Polymarket, France

☆ They ran an Olympic marathon 12 weeks ago. Now they’re back at it in New York
▼ + stars: | 2024-11-01 | by ( Matthew Futterman | ) www.nytimes.com time to read: +10 min

Only one runner has won the Olympic marathon in the summer and New York in the fall — Kenya’s Peres Jepchirchir in 2021. A pack of runners, including eventual winner Hellen Obiri, race in the Olympic women’s marathon on Aug. 11. She was physically ready to start training again in early September, but even when perfectly healthy, marathon training can be a long and lonely process. (Christian Petersen / Getty Images)Popehn said she found herself replaying the Paris race in her head once she got back home. “It’s on my mind.”GO DEEPER The ex-head of the New York marathon cleared himself in his sport.

Persons: “, ”, Hellen Obiri, Hellen, Lindwurm, —, Conner Mantz, Clayton Young, Tamirat Tola, Belgium’s Bashir Abdi, ” Young, Mantz, they’ve, Kenya’s Peres Jepchirchir, Tola, Ulrik Pedersen, Dathan Ritzenhein, ” Obiri, It’s, Ritzenhein, Obiri, Joe Klecker, Klecker, Brigham Young, Young, She’ll, Christian Petersen, Popehn, She’s, ” Popehn, hasn’t Organizations: York City Marathon, Athletics Club, Team, Tokyo Olympics, Brigham, Getty, Boston Marathon, Grandma’s, New Locations: York, New York, Paris, Kenyan, Staten, Ethiopia, Manhattan, Boulder, Col, Central, Versailles, France, Minnesota

☆ Apple earnings live updates: Wall Street watching for AI updates around iPhone, consumer-spending guidance
▼ + stars: | 2024-10-31 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Apple's stock is up about 19% in 2024. Apple's earnings results can have knock-on effects for the many public companies that supply it with components for its iPhones, iPads, and Mac computers. Investors will also extrapolate what Apple's results could mean for consumers' financial health. Apple stock is up about 19% year-to-date, slightly behind the S&P 500's gain of about 22%. Check in for live updates on Apple's earnings results throughout the day.

Persons: —, Tim Cook Organizations: Apple, Service

☆ Betting on the election is the hottest new trend. But can prediction markets keep the momentum going?
▼ + stars: | 2024-10-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

The big storyPresidential betsChris duMond; Chip Somodevilla/Getty Images; Jenny Chang-Rodriguez/BIWe're less than a week from election day, but one group can already claim victory: betting markets. Kalshi's legal victory in October over the CFTC to offer election betting paved the way for the trend. iStock; Rebecca Zisser/BIThe betting market's biggest tests might come after the election. Betting markets have Trump as a heavy favorite, whereas traditional polls indicate a tight race. AdvertisementShould Trump win in a landslide, it could strengthen the case for using betting markets as a key tool for election analysis.

Persons: —, Chris duMond, Chip Somodevilla, Jenny Chang, Rodriguez, Matthew Fox, Donald Trump, Polymarket, iStock, Rebecca Zisser, Nate Silver, Tesla, Zuckerberg, Citadel's, Justin Lubell, Lubell, Steve Schwarzman, Ken Griffin, Trump, Tyler Le, Harris, Sundar Pichai, Elon Musk, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi Organizations: Business, Service, Apple, CFTC, Trump, TikTok, Meta Connect, Meta, Bank of America, Blackstone, Republican, Amazon, AWS, Five Apple Intelligence, Google, The Washington Post, Street, Microsoft, Starbucks Locations: French, New York, London

☆ The election-betting market has exploded in popularity this presidential cycle
▼ + stars: | 2024-10-29 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Betting markets are booming ahead of the US Presidential election. Kalshi has attracted $100M in election bets this month and is the top free finance app in Apple's app store. Robinhood is getting in on the action, announcing its own election betting platform on Monday. Earlier this month, a US federal appeals court cleared Kalshi to open its election betting platform for US citizens. Interactive Brokers also launched a slew of election betting contracts earlier this month following the court decision to allow Kalshi to operate.

Persons: Kalshi, —, we're gunning, Tarek Mansour, it's, Donald Trump, Mansour, TikTok Organizations: Service, Apple, PayPal, CNBC, Interactive, Kalshi

☆ How a Trump or Harris presidency could impact your investments
▼ + stars: | 2024-10-28 | by ( Matthew Fox | ) www.businessinsider.com time to read: +12 min

This is the first in a five-part series about the impact both Trump and Harris presidencies could have on US consumers. To date, Trump and Harris have outlined specific policy proposals that will impact different parts of the stock market. The guide covers four specific asset classes, and is divided between the Trump and Harris impact on each. Advertisement"Our upbeat projections for the stock market in 2024 and 2025 are predicated on a view that hype over AI will continue to fuel a stock market bubble," the research firm said. And since presidential actions usually impact rates, the bond market will be shaped by what either Trump or Harris end up doing.

Persons: Harris, —, Donald Trump, Kamala Harris, Today's, they're, BofA, It's, Financials, Trump's, Trump, Peter Berezin, Joe Biden's, Bonds, Crypto, Bernstein, Gautam Chhugani, bitcoin, Chhugani, Harris Harris, she's, I'm, Larry Fink, Biden, it's Organizations: Trump, Service, Business, Wall, Bank of America, Allies, Foundation, BCA Research, Harris, Democratic, Economics, Capital, Federal, Harris Capital Economics, Federal Reserve, Bloomberg, bitcoin, BlackRock, Capital Economics, Fed Locations: China

☆ Wall Street braces for a Trump or Harris presidency. Here's what that means for your portfolio.
▼ + stars: | 2024-10-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, the first of our five-part refresher series on the potential impact Donald Trump and Kamala Harris presidencies could have on US consumers. Business Insider's Matthew Fox detailed how Wall Street sees former President Donald Trump and Vice President Kamala Harris affecting the investment landscape if they win the White House. One of the biggest areas where Harris and Trump differ is their proposed tax policies, which are believed to have big impacts on stocks. AdvertisementTrump's universal tariffs proposal is also viewed as having a big impact. It's a big week for Apple.

Persons: —, Donald Trump, Kamala Harris, Jenny Chang, Rodriguez, Matthew Fox, Harris, Trump, it's, Alyssa Powell, Joe Biden, Steve Sosnick, Neil Dutta, Goldman Sachs, Morgan Stanley, Rebecca Zisser, Elon Musk, James Yates, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty, BI, White, Bank of America, Interactive Brokers, JPMorgan, Twitter, Elon, Apple, Apple Intelligence, iOS, Venture, Ford Motors, MLB, LA Dodgers, New York Yankees, Forbes Locations: It's, New York, London, Chicago

☆ Elon Musk added over $30 billion to his net worth in a day on Tesla's post-earnings stock surge
▼ + stars: | 2024-10-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Elon Musk's net worth soared by about more than $30 billion on Thursday after Tesla stock surged 22%. AdvertisementElon Musk added more than $30 billion to his net worth on Thursday after Tesla stock soared following its third-quarter earnings results. The massive gain puts Elon Musk's total net worth at just over $270 billion, according to data from Bloomberg. Musk's entire Tesla stake is worth about $123 billion. The billionaire owns about a 42% stake in the space exploration company with a total value of just over $80 billion, according to Bloomberg.

Persons: Elon, —, Elon Musk, Tesla, Jeff Bezos, Larry Ellison Organizations: SpaceX, Service, Elon, Bloomberg, The Boring Company Locations: Tesla

☆ The 'whale' placing huge bets on a Trump win is a French national with extensive trading experience
▼ + stars: | 2024-10-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The Polymarket "whale" placing massive bets on a Trump win next month is a French national. Polymarket confirmed the trader controls four accounts, betting more than $40 million on a Trump win. Polymarket found no evidence of market manipulation and said that betting odds on its website align with other sites. AdvertisementThe "whale" placing big bets on Polymarket in favor of Donald Trump winning the November election is a French national with extensive trading and financial services experience. Kalshi's betting odds favor Trump at 59% compared to 41% for Harris.

Persons: Polymarket, —, Donald Trump, Michie —, Trump, Harris, PredictIt Organizations: Trump, Service, Republican Locations: French

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