TSX hits three-week high amid rally fueled by Trump’s reelection

By Nikhil Sharma (Reuters) -Canada’s main stock index hit a three-week high on Monday, led by technology and financial shares, as markets continued to rally on Donald Trump’s reelection in the United States. The S&P/TSX composite index was up 107.4 points, or 0.43%, at 24,866.8, hovering near a record high last hit on Oct. 21. The technology sector led the overall gains with a 1.7% jump, buoyed by blockchain-farm operator Bitfarms’s shares that climbed 10.5% … Read more…

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Morgan Stanley’s PE arm to sell HVAC firm to Goldman Sachs Alternatives

(Reuters) -Morgan Stanley’s private equity arm is selling its heating, ventilation and air conditioning (HVAC) business Sila Services, about three years after it invested in the company to take advantage of the growing interest in the sector. Pennsylvania-based Sila will be sold to the private equity unit of Goldman Sachs Alternatives, Morgan Stanley said on Monday, but did not disclose the financial terms of the deal. Reuters had reported in September that a transaction could … Read more…

Exclusive-Amazon developing driver eyeglasses to shave seconds off deliveries, sources say

By Greg Bensinger (Reuters) – Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around and within buildings, as it tries to smooth the final stretch of an order’s journey to a customer’s home, five people familiar with the matter said. If successful, the glasses would provide drivers with turn-by-turn navigation on a small embedded screen, along their routes and at each stop, according to the people, who spoke to Reuters … Read more…

Bitcoin surge triggers billions in losses for crypto short traders after Trump win

By Shashwat Chauhan (Reuters) – Short sellers of cryptocurrency and blockchain-related stocks have suffered heavy losses since Nov. 6, after bitcoin surged to record highs, on optimism U.S. President-elect Donald Trump would implement a more favorable regulatory framework. Crypto short trades looked set for a further hammering on Monday as most cryptocurrency-related stocks jumped in U.S. premarket trading. Among them, Coinbase was last up close to 16%, tracking the surge in bitcoin prices. Traders who … Read more…

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Factbox-US congressional races where crypto is hoping for big payoffs

By Hannah Lang (Reuters) – The cryptocurrency industry, including heavyweights like Coinbase and Ripple, spent more than $119 million backing pro-crypto U.S. congressional candidates, hoping to boost those who would pass crypto-friendly bills to promote digital assets. The effort succeeded on Tuesday, with many of the industry’s chosen candidates winning their races, potentially ushering in a Congress poised to champion crypto like never before.  Much of the sector’s spending in 2024 came from supercharged political … Read more…

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Tesla hits $1 trillion market value as Musk-backed Trump win fans optimism

(Reuters) – Tesla’s market value breached the $1 trillion-mark in a sharp rally on Friday, on growing bets of a favorable treatment for CEO Elon Musk’s companies in return for his support for President-elect Donald Trump in his poll campaign. The electric automaker’s shares rose more than 6% to a more than two-year high of $315.56, after having gained 19.3% up to Thursday’s close. The company crossed the $1 trillion valuation for the first time … Read more…

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Boeing exploring possible $6 billion sale of Jeppesen unit, Bloomberg News reports

(Reuters) – Boeing is exploring a possible $6 billion sale of its Jeppesen navigation unit, Bloomberg News reported on Friday. The planemaker is working with an adviser on the potential sale of the unit, which provides interactive flight plans, the report said. Suitors are already circling Jeppesen, which could attract sizable interest from private equity firms as well as other companies and could fetch more than $6 billion, the report said. Boeing did not immediately … Read more…

Exclusive-Biden administration buys last oil for emergency reserve as fund taps out

By Timothy Gardner WASHINGTON (Reuters) – The Biden administration said on Friday it has bought its last batch of oil for the Strategic Petroleum Reserve after selling a record amount from the facility in 2022 to counter fuel prices that had risen after Russia’s invasion of Ukraine. The Department of Energy said it had bought 2.4 million barrels of oil for the reserve for delivery from April through May to the SPR’s Bryan Mound, Texas … Read more…

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The ‘Trumpet’ Blast – by Justin Vaughn

(Justin Vaughn, Editor, Options Trading Report) After a week of peaks and valleys, last Friday ended on a peak, with investors and traders coming off the sidelines and stepping into market action. Stock market activity was brisk at opening with the Dow Jones Industrial Average heading North on the way to adding 289 points. The Nasdaq Composite and S&P 500 followed, up 0.8% and 0.1% respectively. Value stocks were the heroes of the day, while … Read more…

CNN must face Project Veritas’ defamation lawsuit, US appeals court rules

By Jonathan Stempel (Reuters) -A U.S. federal appeals court on Thursday revived a defamation lawsuit accusing CNN of defaming Project Veritas in its explanation of why the conservative group, which is often accused of using deceptive tactics, was suspended from Twitter in 2021. The 11th U.S. Circuit Court of Appeals in Atlanta said Project Veritas could sue over CNN journalist Ana Cabrera’s on-air statement that it was suspended for “promoting disinformation,” rather than for publishing … Read more…

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