Monthly Archives: May 2023
CFTC Orders an Advisor to Pay More Than $4 Million for Fraud and Registration Violations
(Hedgeweek) The Commodity Futures Trading Commission has issued an order filing and simultaneously settling charges against Sharief Deona McDowell, of Loma Linda, California, for fraud in connection with options on commodity futures contracts by a commodity trading advisor (CTA) and […]
S&P 500 futures are slightly lower as investors watch for debt ceiling updates, inflation data: Live updates
(CNBC) S&P 500 futures ticked lower Thursday night as investors awaited signs of progress on debt ceiling negotiations and a batch of economic data that can provide insight into the path of inflation. Futures connected to the broad index slipped […]
Hedge fund stock borrowing hits record high, says Goldman
(Hedgeweek) Rising interest rates, which have made it cheaper for speculators to borrow stock and bet on movements in company stock prices, have seen hedge fund industry borrowing hit record highs, according to a report by Reuters. To read this […]
JPMorgan is developing a ChatGPT-like A.I. service that gives investment advice
(CNBC) JPMorgan Chase is developing a ChatGPT-like software service that leans on a disruptive form of artificial intelligence to select investments for customers. The company applied to trademark a product called IndexGPT this month, according to a filing from the […]
A.I. cryptocurrencies jump after Nvidia reports booming artificial intelligence demand
(CNBC) AI-themed cryptocurrencies got a lift Thursday from excitement around Nvidia and its increasing demand for chips that power artificial intelligence applications. SingularityNET (AGIX) rose as much as 19%, according to CoinMarketCap, to 29 cents. Cortex (CTXC) rose 6% to […]
How the A.I. explosion could save the market and maybe the economy
(CNBC) A blockbuster profit report Wednesday from Nvidia crystallized an important point for both markets and the economy: For better or worse, artificial intelligence is the future. Whether it’s personalized shopping, self-driving cars or a broad array of robotics uses […]
Microsoft warns that China hackers attacked U.S. infrastructure
(CNBC) Microsoft warned on Wednesday that Chinese state-sponsored hackers had compromised “critical” U.S. cyber infrastructure across numerous industries with a focus on gathering intelligence. The Chinese hacking group, codenamed “Volt Typhoon,” has operated since mid-2021, Microsoft said in an advisory. […]
Nvidia shares spike 26% on huge forecast beat driven by A.I. chip demand
(CNBC) Nvidia reported first-quarter earnings for its fiscal 2024 on Wednesday, with a stronger-than-expected forecast that drove shares up 26% in extended trading. Here’s how the company did versus Refinitiv consensus estimates for the quarter ended in April: EPS: $1.09, […]
Dow futures slip as Fitch places United States’ AAA rating on negative watch: Live updates
(CNBC) Dow futures slipped Wednesday night after Fitch Ratings placed the United States’ AAA rating on a negative rating watch. Meanwhile, Nasdaq 100 futures rallied after a strong earnings beat from Nvidia. Dow Jones Industrial Average futures fell 60 points, […]
Debt ceiling talks make progress, but House will leave town with no deal
(CNBC) House Speaker Kevin McCarthy said Wednesday that negotiations over raising the U.S. debt limit were progressing toward a deal despite disagreements over spending, with only eight days before the government could face an unprecedented default. That urgency became more […]
Meta has started its latest round of layoffs, focusing on business groups
(CNBC) The latest round of cuts targets members of Meta’s business groups and follows a previous round of layoffs in April that affected employees in technical roles. About 10,000 workers will lose their jobs between the April and May cuts, […]
Hedge funds turn bullish on SOFR futures
(Hedgeweek) In preparation for an anticipated end to the US Federal Reserve’s programme of interest rate hikes, hedge funds are going long on short-term interest-rate futures tied to the Secured Overnight Financing Rate (SOFR), according to a report by Bloomberg. […]