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☆ 'Struggling for clarity' in the spot bitcoin ETF pursuit
▼ + stars: | 2023-07-20 | by ( Kevin Schmidt | ) www.cnbc.com time to read: +1 min

As applications for a spot bitcoin exchange-traded fund head to the SEC for review, cryptocurrency experts remain cautious as to whether proposed surveillance-sharing agreements will be the key to the approval process. "We'll keep giving more information to our regulators," Cboe CEO Ed Tilly told CNBC's Bob Pisani on "ETF Edge" on Monday. Cboe has several applications for bitcoin ETFs to list on its exchange, including funds from WisdomTree, VanEck and Ark. This week the Securities and Exchange Commission acknowledged submissions from several firms including VanEck and WisdomTree, with those proposals appearing Wednesday on the Federal Register. "I just think it's a bad ruling, but we'll ultimately see how that plays out," he said.

Persons: Ed Tilly, CNBC's Bob Pisani, Cboe, Tilly, Michael Green, Pisani, Green, we'll Organizations: SEC, Securities and Exchange Commission, VanEck, Federal, of Locations: WisdomTree, Southern, of New York

OTTAWA, July 18 (Reuters) - Canada's annual inflation rate dropped more than expected to a 27-month low of 2.8% in June, data showed on Tuesday, led by lower energy prices while food and shelter cost increases persisted. Month-over-month, the consumer price index was up 0.1%, Statistics Canada said, which was also lower than the 0.3% forecast. "Inflation is definitely moving in the right direction, but we're seeing stickier and more persistent core measures," said Michael Greenberg, senior vice president and portfolio manager at Franklin Templeton Investment Solutions. The average of two of the Bank of Canada's (BoC) core measures of underlying inflation, CPI-median and CPI-trim, came in at 3.8% compared with 3.9% in May. "The Bank of Canada's preferred measures of core inflation, which exclude significant moves in individual categories, show that underlying price pressures remain sticky," said Royce Mendes, head of macro strategy at Desjardins Group.

Persons: stickier, Michael Greenberg, Royce Mendes, Mendes, We're, Jules Boudreau, Ismail Shakil, Steve Scherer, Fergal Smith, Nivedita Balu, Dale Smith, Will Dunham, Alexandra Hudson Organizations: OTTAWA, Reuters, Statistics, Bank of Canada's, Franklin Templeton Investment Solutions, Canada's, Desjardins Group, The Bank of Canada, Mackenzie Investments, Canadian, Alexandra Hudson Our, Thomson Locations: Statistics Canada, Mackenzie, China, Ottawa, Toronto

☆ This way to make short-term market bets is gaining popularity, and raising concerns
▼ + stars: | 2023-07-17 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Options trading has exploded in the last few years, and recently a particular type of options trading has become popular with retail and institutional traders alike. Why are they so popular, and what impact might they have on prices in indexes like the S & P 500 and individual stocks? Most people lose money trading options in general. Most people lose money trading options in general, and all this does is allow them to lose money more consistently." The heavy flows have attracted the interest of the ETF industry, which is looking to launch new options trading products soon.

Persons: they're, Cboe, Patrick Moley, Moley, Michael Green, Green, Ed Tilly Organizations: Business, PiperSandler, Apple, Edge

☆ S&P 500 ends higher, Treasury yields touch three-month high on solid US economic data
▼ + stars: | 2023-06-29 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 29, 2023. Financials (.SPSY) led the gainers after the Federal Reserve's stress test showed U.S. lenders have adequate capital to weather an economic storm. Treasury yields rose, with 10-year yields touching their highest level since early March after economic reports painted a picture of a solid U.S. economy, promoting the "higher for longer" scenario with respect to restrictive monetary policy. The dollar touched a two-week high against a basket of world currencies as upbeat economic data provided cushion to the Fed to continue raising rates. Oil prices posted modest gains as the solid economic data suggested strong demand and a steeper-than-expected drop in U.S. crude inventories.

Persons: Brendan McDermid, Russell, Michael Green, Joseph Sroka, Brent, Stephen Culp, Marc Jones, Susan Fenton, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Treasury, Fed, Dow, Nasdaq, Management, Dow Jones, Reuters Graphics Reuters, Japan's Nikkei, Thomson Locations: New York City, U.S, Philadelphia, Atlanta, Spain, Asia, Pacific, Japan, London

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 27, 2023. REUTERS/Brendan McDermidJune 28 (Reuters) - The S&P 500 and Dow closed lower on Wednesday on the prospect of further interest rate hikes after U.S. Federal Reserve Chair Jerome Powell said he did not see inflation falling to the central bank's target rate "this year or next year." According to preliminary data, the S&P 500 (.SPX) lost 1.14 points, or 0.02%, to end at 4,377.37 points, while the Nasdaq Composite (.IXIC) gained 36.08 points, or 0.27%, to 13,591.75. The Dow Jones Industrial Average (.DJI) fell 63.90 points, or 0.19%, to 33,862.84. The S&P banks index (.SPXBK) slipped ahead of the Fed's annual stress test results after markets close on Wednesday.

Persons: Brendan McDermid, Jerome Powell, Powell, Phil Blancato, Blancato, Tesla, Michael Green, Oppenheimer, Mills, Sinéad Carew, Sruthi Shankar, Johann M, Vinay Dwivedi, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Dow, Federal, European Central Bank, Management, Independence, Nasdaq, Dow Jones, Apple Inc, Microsoft, P's, Nvidia, Wall Street Journal, Wall, Traders, Netflix Inc, Thomson Locations: New York City, U.S, United States, China, New York, Bengaluru

Apple Inc (AAPL.O) rose 0.7% to an all-time high, while Amazon (AMZN.O), Alphabet (GOOGL.O) and Tesla (TSLA.O) rose between 1.1% and 3.2%. The S&P banks index (.SPXBK) slipped 0.5% ahead of the results due after markets close on Wednesday. Advancing issues outnumbered decliners by a 1.01-to-1 ratio on the NYSE and a 1.07-to-1 ratio on the Nasdaq. The S&P index recorded 36 new 52-week highs and six new lows, while the Nasdaq recorded 50 new highs and 79 new lows. Reporting by Sruthi Shankar and Johann M Cherian in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Dow, Michael Green, Jerome Powell, Patrick Kaser, Oppenheimer, Mills, Sruthi Shankar, Johann M, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Nasdaq, Apple, Microsoft, Federal, Apple Inc, Management, Nvidia, Wall Street Journal, Central Bank, U.S, Brandywine, Traders, Dow Jones, Bank, Netflix Inc, NYSE, Thomson Locations: New York City, U.S, United States, China, bank's, Bengaluru

☆ What is a 529 plan? How you can score a tax break while saving for future college expenses
▼ + stars: | 2023-05-29 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +7 min

And what better time to think about a college savings account than 529 College Savings Day? Unlike college costs, however, your 529 plan funds can only go toward tuition for primary and high school. On top of tax-free growth, some states allow taxpayers to deduct or get a credit for 529 plan contributions on their taxes. Drawbacks of 529 savings plansOne of the main drawbacks of saving in a 529 plan is that you owe a penalty if you use the funds for an ineligible expense. The Free Application for Federal Student Aid (FAFSA) does take 529 plan savings into account when determining your expected family contribution (EFC), but not at face value.

☆ Wall Street gyrates, Treasury yields fall amid mixed data, earnings
▼ + stars: | 2023-04-28 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The pan-European STOXX 600 index (.STOXX) rose 0.32% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.17%. Emerging market stocks rose 0.41%. The dollar index rose 0.07%, with the euro up 0.07% at $1.1035. Oil prices rose but remained on track for a monthly decline amid signs of an economic slowdown. Gold prices were essentially flat after economic data cemented the likelihood of another rate hike from the Fed.

☆ Actress Eva Green wins London court case over fee for failed film
▼ + stars: | 2023-04-28 | by ( ) www.reuters.com time to read: +2 min

LONDON, April 28 (Reuters) - (Please note obscene language in penultimate three paragraphs)Hollywood actress Eva Green on Friday won a legal fight with financiers whom she had sued in London's High Court for her fee for a failed film in which she was to star. Judge Michael Green said in a written ruling that Eva Green was entitled to payment of the $1 million fee. Green, 42, appeared in court in January to say she had become concerned the film's production team had been cutting corners, citing how her stunt training had been reduced from four weeks to five days. White Lantern's lawyers said Green, also an executive producer on the project, had made unreasonable demands about crew, locations and equipment. "I fought tooth and nail to defend the beautiful film that I loved and had signed on for," Green said in a statement.

☆ Analysis: Australia prepares more assertive military stance to deter conflict
▼ + stars: | 2023-04-21 | by ( Kirsty Needham | ) www.reuters.com time to read: +5 min

The review examined how Australia could better integrate with its AUKUS partners the United States and Britain, as well as other allies, the government has said. Changing that equation is crucial to the future of Australia's military, they said. Campbell said Australia's defence forces would enhance how they could operate alongside partners, but has ruled out foreign bases on its soil and will always retain control of its forces. Even as it beefs up its military, Australia says China will remain an important trade partner. One of the world's top LNG exporters, Australia's top gas customers last year were Japan, China and South Korea.

☆ Jury convicts four far-right Oath Keeper associates in US Capitol attack
▼ + stars: | 2023-03-20 | by ( Sarah N. Lynch | ) www.reuters.com time to read: +2 min

WASHINGTON, March 20 (Reuters) - Four associates of the far-right Oath Keepers group were found guilty on Monday for their roles in the Jan. 6, 2021, attack on the U.S. Capitol, but the Washington jury remained deadlocked on some serious charges for two other defendants who did not enter the building during the chaos. Michael Greene and Bennie Parker, the two who did not enter the Capitol building, were acquitted on the most serious felonies charges, though the jury remained deadlocked on one outstanding felony count for each man. U.S. District Judge Amit Mehta instructed the jury to go back and continue to deliberate on the two remaining counts. Greene and Bennie Parker were found guilty, however, on lesser misdemeanor charges of entering a restricted building or grounds. Then-president Trump, a Republican, fired up the crowd on Jan. 6 with false claims that his defeat was the result of widespread fraud.

☆ Analysis: Nuclear submarine plan aims to give Australia strategic edge to deter China
▼ + stars: | 2023-03-10 | by ( Kirsty Needham | ) www.reuters.com time to read: +6 min

Sooner than that, around 2027, U.S. nuclear submarines are expected to be deployed in Western Australia. It is vital that Australia has the same capability to deter - or, if necessary, fight - China as it expands its nuclear submarine fleet and ranges deeper into Australia's northern waters, he said. A U.S. Defense Department report last year said the People's Liberation Army Navy (PLAN) had a fighting force of 340 ships and submarines, including 12 nuclear submarines - six equipped with ballistic missiles - and 44 conventionally powered submarines. The report added that China would build a guided missile submarine by the middle of this decade. The U.S. has long wanted to base its nuclear submarines in Australia, and if that is the near-term solution under AUKUS, it is a significant shift, Gill said.

☆ Oath Keepers founder found guilty of seditious conspiracy in Jan. 6 case
▼ + stars: | 2022-11-29 | by ( Ryan J. Reilly | Daniel Barnes | ) www.cnbc.com time to read: +6 min

WASHINGTON — A federal jury in Washington found Oath Keepers founder Stewart Rhodes guilty of seditious conspiracy in connection with the Jan. 6 attack on the U.S. Capitol. All five defendants faced felony counts of seditious conspiracy, conspiracy to obstruct an official proceeding, obstruction of an official proceeding and aiding and abetting, and conspiracy to prevent an officer from discharging their duties. Three of the defendants — Rhodes, Caldwell and Watkins — took the stand in their own defense, with Rhodes telling jurors it was "stupid" for Oath Keepers to go inside the Capitol. While three other Oath Keepers pleaded guilty to seditious conspiracy, none of them testified during the trial. Four other Oath Keepers charged in conjunction with Rhodes — Roberto Minuta, Joseph Hackett, David Moerschel and Ed Vallejo —are set to go to trial in early December.

“For these defendants, the attack on the Capitol was a means to an end,” Assistant U.S. Attorney Kathryn Rakoczy told jurors. Manuel Balce Ceneta / AP fileBright told jurors there was not evidence of a "meeting of the minds" on seditious conspiracy. “We’ve had 50 witnesses in this case, not one person has testified to you there was a plan,” Bright said. Oath Keepers were upset about the results of the 2020 election, but them venting their frustrations to each other doesn’t constitute a conspiracy, Bright argued. Rhodes told you in his own words he was prepared to start a rebellion the day that president Biden took office,” Rakoczy said, referring back to Rhodes’ testimony in his own defense.

☆ VIEW Bank of Canada surprises with smaller-than-expected interest rate increase
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +5 min

The central bank, in a regular decision, increased its policy rate to 3.75% from 3.25% and has now lifted rates by 350-bp since March. JIMMY JEAN, CHIEF ECONOMIST, DESJARDINS GROUP"It's surprising to see the Bank of Canada going against market and consensus expectations on the dovish side. But I think it says that they're now moving to that place where they're going to acknowledge the impact that they're already seeing. I think it was a close call between 50 and 75 (bps rate hike). Clearly, the Bank of Canada believes it's getting close to the so called terminal rate and I think they wanted to leave a few more options open."

☆ Oath Keepers on trial: A high-stakes seditious conspiracy case could reveal new details about plotting for Capitol attack
▼ + stars: | 2022-09-27 | by ( C. Ryan Barber | ) www.businessinsider.com time to read: +7 min

Jury selection is set to start in the trial of five Oath Keepers charged with seditious conspiracy. Oath Keepers plan to argue they were waiting on January 6 for Trump to invoke the Insurrection Act. "We aren't getting through this without a civil war," Oath Keepers founder Elmer Stewart Rhodes wrote on November 5, 2020, according to court records. On Tuesday, jury selection began in the trial of Rhodes and four other Oath Keepers members confronting the most serious charges to date in a prosecution stemming from the January 6, 2021, attack on the Capitol. "We must now do what the people of Serbia did when Milosevic stole their election," Rhodes wrote on November 7, referring to Slobodan Milošević.

☆ A growing number of Capitol rioters are being arrested for other crimes —from guns to drugs — which could mean more jail time: report
▼ + stars: | 2022-09-18 | by ( Sarah Al-Arshani | ) www.businessinsider.com time to read: +3 min

Over 900 people have been arrested and charged in connection with the Capitol riot, according to Insider's database. A growing number of them have subsequently been charged with additional separate crimes, CBS News reported. The additional charges could complicate their efforts to get lenient sentences in their Capitol riot cases. In one instance, federal authorities said a Navy reservist went into "panic mode" after the Capitol riot and made $50,000 in firearms-related purchases, The Washington Post reported. Additionally, these additional charges could make it harder for the defendants to get lenient sentences in their Capitol riot charges and could mean that other defendants could struggle to secure pretrial releases.

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