A New Broom Sweeps Clean – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) The tech heavy Nasdaq Composite Index led the market lower Friday dropping 2.2%, and finishing the week 3% lower. The S&P 500 slid 2% for the week, with the benchmark Dow Jones Industrial Average shedding 300 points on Friday. After a blistering run the week of the election of Donald Trump, stocks retreated, unable to sustain upside moves. Even with strong data related to a vibrant economy, including a … Read more…

Nvidia’s supply snags limit deliveries even as demand booms

By Stephen Nellis and Aditya Soni SAN FRANCISCO/BENGALURU (Reuters) -Nvidia’s revenue forecast on Wednesday raised questions over whether the artificial intelligence boom is waning. But the answer, according to company executives, analysts and investors, is a resounding no. Shares of the chipmaker rose nearly 4% to a record high on Thursday, before falling about 2% in volatile trading. AI chip rival AMD as well as peers Intel and Qualcomm edged lower. There is no shortage … Read more…

Crypto industry jockeys for seats at Trump’s promised council

By Hannah Lang (Reuters) -A slew of crypto companies including Ripple, Kraken and Circle are jostling for a seat on President-elect Donald Trump’s promised crypto advisory council, seeking a say in his planned overhaul of U.S. policy, according to several digital asset industry executives.     Campaigning at a July bitcoin conference in Nashville, Trump promised a new council as part of a crypto-friendly administration. His transition team is discussing how to structure and staff it, and … Read more…

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Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says

GEORGETOWN (Reuters) – U.S. oil major Exxon Mobil has pulled out of negotiations with Guyana’s government on terms for exploring and developing a shallow-water block, the South American country’s vice president said on Thursday. Exxon, U.S.-based Hess Corp and China’s CNOOC won block S8 in a bidding round launched in late 2022. They had been engaged in negotiations for non-fiscal terms of the project. The company had wanted to use the offshore area for carbon … Read more…

Analysis-Legal hurdles ahead for Google’s forced sale of Chrome

By Deborah Mary Sophia, Akash Sriram and Kenrick Cai (Reuters) – Efforts by U.S. antitrust regulators to break up Alphabet by forcing a sale of its Google Chrome browser and other proposals to limit its search dominance are likely to run into legal challenges on grounds the remedies are extreme.  After a ruling in August that Google illegally monopolized the search market, U.S. Department of Justice prosecutors argued to a judge on Wednesday that the … Read more…

Nvidia sees past triple-digit growth

A look at the day ahead in U.S. and global markets from Mike Dolan There’s not too much to worry about at the world’s most valuable company – or the artificial intelligence theme – but just conceding that triple-digit growth can’t last forever has been enough to stall Nvidia’s share price and dampen global tech stocks. The $3.6 trillion chip giant’s revenue forecast on Wednesday disappointed Wall Street, with its stock down more than 3% … Read more…

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Biden administrations moves to forgive $4.7 billion of loans to Ukraine

By Simon Lewis and Daphne Psaledakis WASHINGTON (Reuters) – The Biden administration has moved to forgive about $4.7 billion in U.S. loans to Ukraine, State Department spokesperson Matthew Miller said on Wednesday, as outgoing officials seek to do what they can before leaving office to bolster Ukraine in its war against Russia. A funding bill passed by the U.S. Congress in April included just over $9.4 billion of forgivable loans for economic and budgetary support … Read more…

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Elf Beauty stock slides after Muddy Waters says it has shorted its shares

By Nell Mackenzie LONDON (Reuters) – Muddy Waters has taken a short position in cosmetics company Elf Beauty, the hedge fund’s chief executive Carson Block said at the Sohn conference in London on Wednesday. Shares in Elf were down 10% on the day after Block alleged at the event that Elf had overstated its revenue over the past three years, possibly by as much as $190 million. California-based Elf did not immediately respond to Reuters … Read more…

Trump team weighs creating first-ever White House crypto role, Bloomberg News reports

(Reuters) – President-elect Donald Trump’s team is holding discussions with the digital asset industry about whether to create a new White House post solely dedicated to crypto policy, Bloomberg News reported on Wednesday. The team is vetting candidates for the role, the report said, citing people familiar with the transition efforts. The transition team did not immediately respond to Reuters request for comment. Trump championed bitcoin and the crypto industry in the run-up to the … Read more…

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Walmart, other US companies raise concerns over proposed Trump tariffs

By Niket Nishant, Shivansh Tiwary and Manya Saini (Reuters) – Corporate executives were taking a wait-and-see approach to President-elect Donald Trump’s vow to impose heavy tariffs on imports when he takes office in January, but many have raised concerns about the effect such levies will have on inflation. Numerous major U.S. corporations addressed tariffs at recent investor events and on conference calls, including some after the Nov. 5 election, when Trump edged out sitting Vice … Read more…

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