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☆ CNBC Daily Open: U.S. stocks little changed ahead of Big Tech earnings, McDonald's misses estimates
▼ + stars: | 2024-07-30 | by ( Kevin Lim | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Treasury yields slipped and U.S. oil prices fell amid increasing tensions between Israel and the Iran-backed militia Hezbollah in Lebanon. McDonald's missMcDonald's quarterly earnings and revenue fell short of analysts' expectations as same-store sales declined globally for the first time since 2020. The fast-food giant's second-quarter net income fell to $2.02 billion from $2.31 billion a year ago, while revenue was nearly flat at $6.49 billion. Bond investors benefit from price appreciation in a falling interest rate environment as bond prices and yields move inversely to each other.

Persons: McDonald's, iPhones, Max, Bitcoin, Donald Trump, Trump, Gary Gensler, Janus Henderson Organizations: CNBC, Big Tech, Nasdaq, Dow Jones Industrial, Treasury, Hezbollah, Apple, Apple Intelligence, Republican, Bitcoin Conference, Metrics, Securities, Exchange Locations: U.S, Israel, Iran, Lebanon

☆ Yen eases as Nikkei jumps, central bank meetings loom
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: +2 min

Sterling was steady near a 2-1/2-week low to the euro ahead of the Bank of England's policy announcement on Thursday. The dollar gained 0.29% to 154.24 yen early in the Asian day, after dipping as low as 151.945 on Thursday for the first time since May 3. Last week, the dollar sank 2.36% against the yen for its worst weekly performance since late April. Speculation has grown that the Bank of Japan will raise interest rates on Wednesday at the same time as significantly reducing its monthly bond purchases. Elsewhere, the Australian dollar gained 0.31% to $0.6568, recovering from Friday's low of $0.65105, a level not seen since the start of May.

Persons: Sterling, Tony Sycamore, bitcoin, Donald Trump Organizations: Bank of, Nikkei, Bank of Japan, IG, Federal Reserve, Apple, Meta, Microsoft, Australian, Republican Locations: Japan, U.S, China

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin moves toward $70,000 then dips as investors digest political developments: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, CNBC Crypto World brings you highlights from former President Donald Trump's speech over the weekend at Bitcoin 2024 in Nashville and Rep. Ro Khanna discusses crypto regulation from the conference.

Persons: explainers, Donald Trump's, Ro Khanna Organizations: CNBC Crypto, CNBC Locations: Nashville

☆ Bitcoin nears $70,000 as investors digest Trump crypto comments and look ahead to central bank meetings
▼ + stars: | 2024-07-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Investors are coming back into the market after bitcoin ended last week flat and ether dropped roughly 8%. Additionally, traders are watching the Federal Reserve, Bank of Japan and the Bank of England – all of which are meeting this week. Eyes are on Fed Chair Jerome Powell in particular, hoping his comments will confirm an interest rate cut in September. He also said it would be his policy to keep 100% of the bitcoin the U.S. government currently holds (about 210,000 bitcoins), serving as the beginning of a National Strategic Bitcoin Reserve. In remarks that garnered the biggest roar from the audience, Trump vowed that he would replace Gensler "on day one."

Persons: Bitcoin, bitcoin, Jerome Powell, Donald Trump, Sen, Elizabeth Warren, Gary Gensler, Biden, they've, Trump, Cynthia Lummis Organizations: Getty, Metrics, Federal Reserve, Bank of Japan, Bank of England, Bitcoin Conference, Democratic, Securities, Exchange, Trump, Strategic Bitcoin, Republican Locations: Nashville, Wyoming

☆ Rep. Ro Khanna says he advised Kamala Harris' team about crypto
▼ + stars: | 2024-07-29 | by ( Mackenzie Sigalos | Kaan Oguz | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Ro Khanna says he advised Kamala Harris' team about cryptoRep. Ro Khanna (D-Calif.) sits down with CNBC Crypto World from the crypto conference Bitcoin 2024 in Nashville, Tennessee to discuss crypto regulation and Democrats' stance on digital assets.

Persons: Ro Khanna, Kamala Harris Organizations: CNBC Locations: Nashville , Tennessee

☆ Nation states are going to start thinking about bitcoin reserves, analyst says
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNation states are going to start thinking about bitcoin reserves, analyst saysRichard Byworth, head of liquid alternatives at Syz Capital, discusses bitcoin and global policies for bitcoin markets.

Persons: Richard Byworth Organizations: Syz

☆ Good opportunity to buy into weakness with the Nikkei, says Renaissance's Jeff DeGraaf
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGood opportunity to buy into weakness with the Nikkei, says Renaissance's Jeff DeGraafJeff DeGraaf, Renaissance Macro Research chairman, joins 'Closing Bell Overtime' to talk bitcoin, copper, the Japanese Nikkei and more.

Persons: Jeff DeGraaf Jeff DeGraaf Organizations: Nikkei, Macro, Japanese Nikkei Locations: Japanese

☆ Bitcoin is up more than 50% this year — here are key crypto tax rules every investor should know
▼ + stars: | 2024-07-29 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

After holding crypto for more than one year, you'll qualify for long-term capital gains of 0%, 15% or 20%, depending on taxable income. Higher earners may also owe an extra 3.8% levy, known as net investment income tax. By comparison, short-term capital gains or regular income taxes apply to assets owned for one year or less. New crypto reporting rulesThe U.S. Department of the Treasury and IRS in June released final guidance for digital asset brokers, which phases in mandatory yearly reporting. With limited past reporting on basis, crypto investors can still establish a "reasonable allocation" before Jan. 1, 2025, according to an IRS revenue procedure released in June.

Persons: Donald Trump, Jon Cherry, Adam Markowitz, Andrew Gordon Organizations: Republican, Getty, IRS, Luminary, Internal Revenue Service, U.S . Department of, Treasury, Gordon Law Group Locations: Nashville , Tennessee, Windermere , Florida

☆ Bitcoin tests $70k after Trump says US will be 'crypto capital of the planet'
▼ + stars: | 2024-07-29 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

During remarks over the weekend, Donald Trump said he wants to make the US a "bitcoin superpower." Trump said he has raised $25 million in crypto donations over the last two months. AdvertisementDuring remarks a weekend bitcoin conference, presidential hopeful Donald Trump pledged to make the US the "crypto capital of the planet, and the bitcoin superpower of the world" if elected in November. Kennedy, a staunch crypto supporter, said Trump's policies while in office capped the currency's growth and reminded the audience that Trump once called Bitcoin "a scam against the dollar." AdvertisementTrump's comments follow his party's recent growing support for crypto.

Persons: Donald Trump, Bitcoin, Trump, —, Gary Gensler, Robert F, Kennedy Jr, Kennedy, Ross Ulbricht, he's, He's, Cameron, Tyler Winklevoss Organizations: Service, SEC, Twitter, Gemini, Trump, Assets, Government Surveillance Locations: Nashville

☆ Coinbase could be ready to achieve a mainstream milestone that boosts the stock, predicts Oppenheimer
▼ + stars: | 2024-07-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin pushing further into the mainstream could be laying the groundwork for crypto stock Coinbase to join the S & P 500 , according to Oppenheimer. "We believe 1) increasing regulatory clarity, and 2) digital asset becoming mainstream can increase the chance that COIN will be included in S & P 500," he added. Lau has an outperform rating on Coinbase and a price target of $282, which implies a roughly 12% increase from current levels. It's gained about 160% in the past year, outperforming the S & P 500 in that time. Over the pas three years, however, shares are up just 3%, while the S & P 500 has gained 23%.

Persons: Oppenheimer, Owen Lau, Lau, Donald Trump, Robert F, Kennedy Jr, Cynthia Lummis, Ro Khanna, Coinbase, It's Organizations: Republican, Democratic Locations: blockchain, Nashville, Wyoming, California

☆ Bitcoin: We're about 6 months into an 'institutional kind of boom,' digital asset technology firm says
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin: We're about 6 months into an 'institutional kind of boom,' digital asset technology firm saysFred Thiel, CEO of Marathon Digital Holdings, says "if you look at the bitcoin ETF, it has reduced the friction for buying, holding and owning bitcoin significantly."

Persons: Fred Thiel Organizations: Marathon Digital Holdings

☆ Bitcoin rising after Donald Trump's keynote to Nashville industry conference
▼ + stars: | 2024-07-29 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rising after Donald Trump's keynote to Nashville industry conferenceCNBC's MacKenzie Sigalos reports on the former president's promises on bitcoin and the push by Democrats to lay out a clear agenda on crypto as the fintech voting bloc because a bigger part of the conversation in the 2024 presidential race.

Persons: Donald Trump's, CNBC's MacKenzie Sigalos Locations: bitcoin

☆ New Vanguard CEO says improving customer experience is a 'very high' priority and AI could help
▼ + stars: | 2024-07-29 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The new CEO at Vanguard said Monday that the asset management giant could lean on artificial intelligence as it looks to improve its customer service experience. Vanguard, which built its reputation as a low-cost and investor-friendly brokerage firm, has seen criticism about its customer service in recent years. Difficulty in reaching a Vanguard representative on the phone is one common complaint seen in online forums. CEO Salim Ramji told CNBC's Bob Pisani on Monday that fixing the customer experience is "very high on my list of priorities" and that artificial intelligence looks like a promising avenue for help. Ramji comes to Vanguard from rival BlackRock, making him the first outsider CEO for the roughly $9 trillion asset manager.

Persons: Salim Ramji, CNBC's Bob Pisani, Ramji, Jack Bogle Organizations: Vanguard, BlackRock Locations: Malvern , Pennsylvania

☆ Trump stops short of delivering crypto monetary policy commentary during Bitcoin 2024 keynote
▼ + stars: | 2024-07-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTrump stops short of delivering crypto monetary policy commentary during Bitcoin 2024 keynoteCNBC's Mackenzie Sigalos reports on news from Bitcoin 2024 in Nashville.

Persons: Mackenzie Sigalos Organizations: Trump Locations: Nashville

☆ De la religión al bitcóin: 24 horas en la camaleónica campaña de Trump
▼ + stars: | 2024-07-29 | by ( Shawn Mccreesh | ) www.nytimes.com time to read: 1 min

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☆ Stocks making the biggest moves before the bell: McDonald's, Tesla, Stellantis and more
▼ + stars: | 2024-07-29 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

McDonald's — Shares were down slightly in the premarket after the fast food giant reported second-quarter results that missed analyst expectations . Bristol-Myers Squibb — The pharma stock shed 1.5% following a downgrade to underweight from equal weight at Barclays. This call comes after Bristol-Myers Squibb issued better-than-expected earnings and raised its full-year guidance on Friday. Tesla — The electric vehicle maker advanced 1.5% after bring crowned the top pick U.S. auto stock by Morgan Stanley analyst Adam Jonas. The Marvel movie raked in more than $200 million during its opening weekend, making it the strongest debut on record for an R-rated film.

Persons: McDonald's, Olin, Myers Squibb, Myers, Tesla, Morgan Stanley, Adam Jonas, Stellantis, Microstrategy, —, Samantha Subin, Sarah Min, Michelle Fox, Fred Imbert Organizations: JPMorgan, Technologies, Guggenheim, Myers, pharma, Barclays, Myers Squibb, Bristol, Ford, Deutsche Bank, Chrysler, Dodge, Disney, Marvel Locations: Bristol, Monday's premarket

☆ From Believers to Bitcoin: 24 Hours in Trump’s Code-Switching Campaign
▼ + stars: | 2024-07-28 | by ( Shawn Mccreesh | ) www.nytimes.com time to read: 1 min

In a matter of just 24 hours this weekend, Donald J. Trump traversed two very different worlds, neither one of them his own. The next afternoon, he was in Nashville, yukking it up with thousands of crypto-evangelists at a Bitcoin conference. The two groups could hardly be less alike, and Mr. Trump — neither a pious man, nor technologically savvy one — made for an unlikely champion at each. And yet, taken together, the two appearances provided a case study in how he code switches — from Christianity to crypto — as he campaigns. And his attempts to win over a crowd that is not inherently his own can be acutely awkward.

Persons: Donald J, Trump Locations: West Palm Beach, Fla, Nashville

"For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said at this year's Bitcoin Conference in Nashville. Kennedy went further than Trump, promising to establish a 4 million bitcoin strategic reserve to match the country's current stake in gold, some of which is held near the military base at Fort Knox. But Trump's reservation speaks to the complications of promising a bitcoin strategic reserve on par with the gold standard. An executive order would not be enough to bring a U.S. bitcoin reserve into existence. That existing bitcoin stockpile could act as the foundation for the bitcoin strategic reserve, which the U.S. government would build on by regularly buying a certain number of bitcoin.

Persons: Donald Trump, Marco Bello, Trump, Trump's, didn't, Tyler, Cameron Winklevoss, Kid Rock, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Robert F, Kennedy Jr, Kennedy, bitcoin, Sen, Lummis, Per Sen, Joe Biden, Kamala Harris, Fred Thiel Organizations: Reuters NASHVILLE —, Republican, U.S . Marshals Service, Trump, U.S . Treasury, Bitcoin Conference, Saturday, Wyoming, U.S, Treasury Department, House, Independents, Democratic, U.S . Securities, Exchange Commission, U.S . Locations: Charlotte , North Carolina, U.S, Nashville, United States of America, Germany, Fort Knox, Washington, United States, bitcoin

For a time, Donald Trump would have made for an unlikely headliner at a cryptocurrency confab. As president, Trump declared bitcoin “not money” and criticized it as “highly volatile and based on thin air.” He cautioned that crypto assets helped facilitate illegal underground markets. “We have only one real currency in the USA, and it is stronger than ever,” Trump wrote on Twitter in 2019. Despite cryptocurrency’s troubling recent history and his own past reservations, Trump has fully embraced the hype and hopes of the nascent industry. The industry, in turn, has embraced Trump.

Persons: Donald Trump, Trump, bitcoin “, ”, ” Trump, Nashville —, Read Organizations: Twitter, United States, Biden Locations: USA, Nashville, United States, Wisconsin

☆ Going for gold — Three 'Big Short' traders say the precious metal is a major long
▼ + stars: | 2024-07-27 | by ( Ellie Stevens | ) www.cnbc.com time to read: +2 min

"The Big Short" traders Danny Moses, Vincent Daniel and Porter Collins are focused on one of their top long bets: gold. "I just don't think Americans have enough gold in their portfolio," Collins said on CNBC's " Fast Money " in an exclusive interview this week . We are still very long gold , gold miners , Silver , Platinum Group Metals (PGMs) and Bitcoin ," they wrote. In a special email to "Fast Money" on Monday, Moses wrote he has a "large long" in the Sprott Physical Gold Trust . As of Friday's close, the Sprott Physical Gold trust is up more than 16% so far this year.

Persons: Danny Moses, Vincent Daniel, Porter Collins, Collins, Daniel, Moses Organizations: Seawolf, Group Metals, Moses Ventures, Trust Locations: U.S

☆ Donald Trump once trashed bitcoin as ‘based on thin air.’ Now, he’s addressing crypto’s largest convention
▼ + stars: | 2024-07-27 | by ( Steve Contorno | Aaron Pellish | ) edition.cnn.com time to read: +8 min

Trump’s campaign would not say what sparked the former president’s 180-degree turn on bitcoin. Billionaire crypto tycoons Tyler and Cameron Winklevoss each pledged to donate $1 million worth of bitcoin to Trump’s campaign. The cryptocurrency industry has experienced a resurgence since the downfall of FTX. Trump supporters were not hard to find inside the Bitcoin Conference. Luke Broyles, a 25-year-old Michigander working in the crypto industry, was similarly unsure of Trump’s latest entreaties despite his recent rhetoric.

Persons: Donald Trump, Trump, bitcoin “, ”, ” Trump, Jacob Silverman, bitcoin, Sam Bankman, Larry David, Tom Brady, Fried, Brian Hughes, South Carolina Sen, Tim Scott, ” Scott, David Bailey, Bailey, cryptocurrency, tycoons Tyler, Cameron Winklevoss, Cryptocurrency, Ohio Sen, JD Vance, David Sacks, Biden, ” Sacks, “, ” Tyler Winklevoss, Eric Soufer, cryptocurrencies, ” Soufer, FTX, Robert F, Kennedy Jr, John Fischer, ” Fischer, Luke Broyles, Trump’s, ” Broyles Organizations: Nashville CNN, Twitter, United States, Biden, Capitalism, CNN, Republican, Trump, South, BTC Inc, Mar, Commission, Billionaire, Music City Center, Independent, Pew, Libertarian Party, Bitcoin Conference Locations: USA, Nashville, United States, Wisconsin, St, Cloud , Minnesota, South Carolina, Silicon, Washington, Atlanta, cryptocurrency

☆ 10 bitcoin and blockchain-related stocks with the highest price upsides, according to Wall Street analysts
▼ + stars: | 2024-07-27 | by ( Laila Maidan | ) www.businessinsider.com time to read: +1 min

Bitcoin's price has surged by more than 500% over the past five years. According to TipRanks, the 10 stocks below are buy-rated and score well on other metrics. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The round of spot bitcoin ETFs approved by the Securities and Exchange Commission in January helped increase flows into the asset. This story is available exclusively to Business Insider subscribers.

Persons: TipRanks, —, bitcoin, Franklin Templeton Organizations: Service, Securities and Exchange Commission, Wall, Fidelity, Business Locations: BlackRock, bitcoin

☆ Trump's Bitcoin speech aims to lock down crypto support as Harris gains momentum
▼ + stars: | 2024-07-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

It is also quite the about-face by the Republican presidential nominee. The Republican presidential nominee will also host an accompanying fundraiser in Nashville, with tickets topping out at $844,600 . Bitcoin 2024 conference organizers say they were briefly in talks to have Vice President Kamala Harris appear at the conference, though she ultimately declined. "I think we're going to hear from Vice President Harris soon on this. Harris' team has already begun to reach out to people close to crypto companies to set up meetings, the Financial Times reported on Saturday.

Persons: Donald Trump, Joe Biden's, David Bailey, Trump, NASHVILLE —, bitcoin, Fox, I've, Harris, Wiley Nickel, Nickel, Kamala Harris, Mark Cuban, we've Organizations: Van, Trump, Republican, BTC Inc, NASHVILLE, Republican Party, Biden, Democratic Party, Democratic, North Carolina, CNBC, Financial Times Locations: Grand Rapids , Michigan, America, Nashville, Washington, North

☆ Trump, Appealing to Bitcoin Fans, Vows U.S. Will Be ‘Crypto Capital of the Planet’
▼ + stars: | 2024-07-27 | by ( Chris Cameron | ) www.nytimes.com time to read: +1 min

Former President Donald J. Trump vowed on Saturday that he would turn the United States into a “Bitcoin superpower" if returned to the White House, wielding much of the same rhetoric of persecution that he has applied to himself and his supporters to appeal to cryptocurrency enthusiasts who want to see less regulation. “Sadly, we see the attacks on crypto,” Mr. Trump told a gathering of cryptocurrency fans in Nashville. “It’s a part of a much larger pattern that’s being carried out by the same left-wing fascists to weaponize government against any threat to their power. They’ve done it to me.”He added that, if he were elected, “Joe Biden and Kamala Harris’s anti-crypto crusade will be over” and that “the moment I’m sworn in, the persecution stops and the weaponization ends against your industry.”Mr. Trump has been competing with Robert F. Kennedy Jr., the independent presidential candidate, for the support of cryptocurrency holders, and his remarks represented one of his most direct pitches yet.

Persons: Donald J, Trump, Mr, “, “ Joe Biden, Kamala Harris’s, Robert F, Kennedy Jr Organizations: White Locations: United States, Nashville

☆ Bitcoin 2024 conference underway: Here's what to know
▼ + stars: | 2024-07-26 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin 2024 conference underway: Here's what to knowCNBC’s MacKenzie Sigalos joins 'Squawk on the Street' to discuss the latest developments at the Bitcoin 2024 conference in Tennessee.

Persons: CNBC’s MacKenzie Sigalos Locations: Tennessee

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