Monthly Archives: May 2023
A.I. poses human extinction risk on par with nuclear war, Sam Altman and other tech leaders warn
(CNBC) Artificial intelligence may lead to human extinction and reducing the risks associated with the technology should be a global priority, industry experts and tech leaders stated in an open letter. “Mitigating the risk of extinction from AI should be […]
Nvidia crosses into $1 trillion market cap before giving back gains
(CNBC) Nvidia hit a $1 trillion market cap at the open Tuesday before paring back gains, falling to $990 billion. Nvidia’s shares had to hold above $404.86 to maintain that distinction throughout the day. The stock gave back some of […]
Stock futures are little changed as traders await debt ceiling progress in Washington: Live updates
(CNBC) Stock futures were flat on Tuesday evening as investors kept an eye on the federal debt ceiling debate in Washington ahead of the final trading day of May. Futures tied to the Dow Jones Industrial Average dipped 31 points, […]
Debt ceiling bill clears key hurdle, teeing up final House vote before it goes to Senate
(CNBC) The compromise bill to raise the debt ceiling passed its first major test Tuesday night in the House Rules Committee, where it advanced to the House floor in a 7-6 vote, with two of the panel’s nine Republicans opposing […]
Goldman Sachs is cutting jobs again amid Wall Street deals slump
(CNBC) Goldman Sachs is preparing for its third round of layoffs since September as Wall Street firms adjust to a slump in deals activity. The company is expected to trim fewer than 250 jobs in the coming weeks, a person […]
Theranos founder Elizabeth Holmes reports to prison to begin sentence
(CNBC) Disgraced Theranos CEO Elizabeth Holmes reported to prison Tuesday to begin her more than 11-year sentence for defrauding investors about the capabilities of her company’s blood-testing technology. U.S. District Judge Edward Davila ordered Holmes to surrender no later than […]
CFTC Charges Five Defendants with Fraudulent Digital Assets Trading Scheme
(HedgeCo.Net) The Commodity Futures Trading Commission has filed a civil enforcement action in the U.S. District Court for the Central District of California against David Carmona formerly of Elmhurst, New York, Juan Arellano Parra formerly of Chino, California, Moses Valdez […]
Hedge fund investors pull record $11.6bn in April
(Hedgeweek) Hedge fund investors pulled $11.57 billion in April as the sector saw its biggest month of outflows so far this year, taking YTD outflows to £19.4 billion, according to eVestment’s latest Hedge Fund Industry Asset Flow Report. To read […]
Stock futures rise after GOP and White House reach tentative U.S. debt ceiling deal: Live updates
(CNBC) Stock futures rose Monday night after the Biden administration and Republican lawmakers reached a tentative deal on raising the U.S. debt ceiling. Futures tied to the Dow Jones Industrial Average added 72 points, or 0.2%, while S&P 500 futures […]
The tech trade is back, driven by A.I. craze and prospect of a less aggressive Fed
(CNBC) Forget about the debt ceiling. Tech investors are in buy mode. The Nasdaq Composite closed out its fifth-straight weekly gain last jumping 2.5% in the past five days, and is now up 24% this year, far outpacing the other […]
Major central banks were expected to pause rate hikes soon. Now it’s not so clear cut
(CNBC) The market has long been pricing in interest rate cuts from major central banks toward the end of 2023, but sticky core inflation, tight labor markets and a surprisingly resilient global economy are leading some economists to reassess. Stronger-than-expected […]
Brahman shutters stock-picking hedge fund after over 30 years
(Hedgeweek) Brahman Capital Corp’s stock-picking hedge fund is to close after over 30 years of trading following losses in the past two years, according to a report by Bloomberg, citing unnamed sources familiar with the matter. To read this article: