Bloomberg News

The virtue economy, the only bubble I have ever called, has now completely burst.

Blackstone Inc. has won approval from the US Securities and Exchange Commission to launch its newest private credit fund, one of the latest efforts to give individuals access to assets that are mostly backed by institutions.

As Donald Trump’s tariffs send markets into a tailspin, pressure is mounting on the president to speed up his main proposal for juicing the economy: a sweeping tax bill.

US Treasuries surged and investors boosted their bets on Federal Reserve interest-rate cuts Monday as fear of a economic slowdown took hold across US markets.

Apple Inc. is preparing one of the most dramatic software overhauls in the company’s history, aiming to transform the interface of the iPhone, iPad and Mac for a new generation of users.

One of the bond market’s favorite trades is getting fresh momentum in Europe, as the worst rout in German bonds in more than two decades propels selling of long-term debt.

A chorus of Wall Street strategists is warning about rising volatility in the stock market, with Morgan Stanley’s Michael Wilson the latest to sound the alarm on slumping economic growth amid President Donald Trump’s trade wars.

Some of Asia’s biggest central banks are getting a painful refresher in economic theory.

Emerging-market stocks declined for a second day and currencies halted a four-day rally as concerns grew that China’s deflation is spreading to its consumer economy and Donald Trump’s tariffs threaten US growth.

A lack of affordability has hindered housing transactions the past two years, frustrating would-be buyers and, more recently, hammering the stocks of developers.

The Federal Reserve is widely expected to keep interest rates unchanged at its policy meeting next week, shifting the market’s focus to signals about what comes next.

The euro is set for its best weekly performance in 16 years after Germany’s historic pledge to ramp up spending for defense and infrastructure.

Federal Reserve Governor Michelle Bowman said the neutral level for the central bank’s policy rate had likely risen since the Covid-19 pandemic.

Italian Prime Minister Giorgia Meloni is getting cold feet over a proposed €1.5 billion ($1.6 billion) deal with Elon Musk’s SpaceX, according to Bloomberg News. As well she might.

Two different stories have played out in Japan at very distinct paces over recent months.

The deal just announced for Walgreens Boots Alliance Inc. is above all a massive transaction.

Will artificial intelligence take my job? This question is really starting to preoccupy me and millions of other white-collar workers. There’s even a word for it — FOBO, or fear of becoming obsolete — and, regrettably, our apprehension isn’t entirely unfounded.

The Nasdaq 100 Index sank into a correction on Friday, as investors continue to sour on the megacap technology stocks that led the stock market rally over the past two years.

Broadcom Inc. shares jumped after the chip supplier for Apple Inc. and other big tech companies gave an upbeat forecast, reassuring investors that spending on artificial intelligence computing remains healthy.

Treasury Secretary Scott Bessent warned that the US economy may see some disruption as the Trump administration shifts the basis for growth away from the government and toward the private sector.

Bridgewater Associates founder Ray Dalio’s famous “All Weather” strategy has arrived in the exchange-traded fund market, just as the kind of macro-driven turmoil it seeks to guard against sweeps global assets.

Developing-nation assets jumped on bets higher tariffs will slow the US economy and divert investment flows into other markets.

The world’s recent experience of faster inflation may make it harder for central banks to control prices in future, former US Federal Reserve Chair Ben Bernanke said.

The market for US initial public offerings should look a lot more like the years prior to the pandemic-fueled boom, according to the head of the New York Stock Exchange.

China has taken an important symbolic step toward addressing a persistent drag on its economy.

Applications for US unemployment benefits fell last week and returned to muted levels seen at the start of the year, offering some relief after other reports pointed to worsening labor-market conditions.

Euro-area bond yields inevitably leapt like a salmon as Germany unleashed a fiscal bazooka, but compared to previous fixed-income tantrums, it’s not the stuff of all-night summits.

The notion of a US recession seemed remote just a few months ago, a mere blip on the radar of economic possibilities. More recently, however, that picture has started to change.

US stocks have been on a wild ride this week, and options traders expect more of that to come as traders assess the latest tariff developments and brace for Friday’s monthly jobs report.

Hiring at US companies slowed in February to the lowest pace since July, led by job cuts in the service sector and in regions of the US that were hit by severe weather.

Germany’s extraordinary spending plans are shaking up the region’s markets, powering European equities past US peers this year and reviving the euro from the brink of parity with the dollar.

President Donald Trump is set to announce changes to the tariffs on Canada and Mexico he slapped on earlier this week, with potential relief for automobiles and other sectors, Commerce Secretary Howard Lutnick said Wednesday.

Many major stocks connected to artificial intelligence have lost their luster of late, but perhaps none more so than Microsoft Corp.

US Treasuries are now outperforming stocks since Donald Trump was elected President, and some strategists say there’s room for those gains to run.

Traders added to bets on interest-rate cuts from the Federal Reserve amid concern about the impact of US trade tariffs on global economic growth.

The Chinese artificial intelligence startup that rocked global markets earlier this year with its low-cost and high-performance AI models has outlined a potential path to major profitability.

Alternative investments including hedge funds and real estate will disappear from the portfolios of pension funds and endowments over the next 10 to 20 years, well-known institutional investment consultant Richard Ennis concludes in a recent report.

There’s an old Wall Street saying that “the stock market is not the economy.” That’s usually true. But, in this economic cycle, stock market gains have become an increasingly important driver of consumer spending, helping to fuel growth as other areas of the economy cool.

President Xi Jinping heads into China’s biggest political huddle of the year with his economy finally getting back some swagger. Donald Trump’s rising tariffs will test Beijing’s ability to sustain that momentum.

They’re a tempting proposition for anyone getting worried about the bull market’s longevity: exchange-traded funds that keep you from losing money — should stocks suddenly go south.

For some time now, there have been plenty of reasons to worry about Big Tech stocks. Stretched valuations after a big run up, heavy spending on artificial intelligence and lofty expectations for future growth. For months, though, none of it seemed to matter.

Taiwan Semiconductor Manufacturing Co. plans to invest $100 billion in chips plants in the US over the next four years, a move President Donald Trump is set to announce at the White House later Monday, according to a person familiar with the matter.

Tencent Holdings Ltd. became the latest tech company to unveil or enhance an AI model intended to eclipse DeepSeek, joining a spate of rollouts since the startup’s emergence energized the US-China technology race.

AI drug developer Recursion Pharmaceuticals Inc. is considering an Amazon Prime-style subscription model for selling its pipeline of medicines.

Emerging markets were swept up in the global equities storm Friday, with Asian stocks taking the heaviest beating after President Donald Trump’s latest tariff threats.

A week-long rout in Bitcoin deepened amid the recent broader retreat from risky assets in the wake of US President Donald Trump’s tariff threats and crypto sector turmoil, marking a dramatic reality check for one of the most popular Trump trades.

Trend-chasing hedge funds are facing a fresh wave of competition from the ETF world, as asset managers make their latest push to open up strategies to the masses that were once reserved for the financial elite.

Artificial intelligence is pushing humanity toward a more efficient future, but like any world-changing technology will eventually crash and hurt investors, according to longtime Wall Street doomsayer Jeremy Grantham.

The world’s biggest asset manager is finally allowing Bitcoin into its $150 billion model-portfolio universe.

Investors in US government bonds are wrapping up their biggest monthly gain since July as the Federal Reserve’s preferred gauge of underlying inflation rose at a tepid pace in January.

President Donald Trump would like to offer migrants who want to work in the US a “gold card,” akin to a green card, with one significant difference: the price tag.

President Donald Trump may have found a way to force the Federal Reserve to lower interest rates after all.

The last time we heard from Amazon.com Inc. Chief Executive Officer Andy Jassy, he was breaking it to investors that his company was forecasting $100 billion in capital expenditures this year — the largest outlay of the tech giants in the pursuit of artificial intelligence.

Investor sentiment around small-cap companies is worse than it’s been in months. As it turns out, the mood isn’t much better inside their corporate boardrooms.

Investors hoping that Nvidia Corp.’s earnings would rejuvenate the artificial intelligence trade didn’t exactly get the report they wanted.

Nvidia Corp., the chipmaker at the center of an AI spending boom, delivered good-but-not-great quarterly numbers on Wednesday, drawing a muted response from investors accustomed to blowout results.

A diversified investment strategy that seeks to juice returns through leverage is finding new love among big money managers — more than a decade after it blew up during the 2008 financial crisis.

For the last five years, BP Plc has squandered its shareholders’ money. That’s why, forced by poor returns and the arrival of an activist investor, it finally “reset” its strategy on Wednesday.

Warren Buffett's latest shareholder letter contains the usual folksy mix of wisdom and humor.

General Motors Co. plans to step up its program of buybacks by repurchasing $6 billion in shares and raising its dividend, rewarding investors by pushing more cash off its balance sheet.

Eli Lilly & Co. will spend at least $27 billion to build four US manufacturing plants, the latest company to brace for the potential impact of President Donald Trump’s tariffs.

Nvidia Corp.’s earnings are set to dictate whether artificial intelligence can regain its status as the key driver behind Wall Street gains — or trigger more weakness after the Magnificent Seven group of technology stocks fell into correction territory.

Treasuries rallied, led by 10-year yields dropping 10 basis points as traders boosted bets on Federal Reserve interest-rate cuts, with US President Donald Trump’s tariff plans weighing on risk appetite.

For the last five years, BP Plc has put ideology ahead of profitability. This week, its board of directors has a final chance to change direction. If it doesn’t, an investor revolt will follow, and many executives could be out of a job by summer.

The US Federal Reserve has begun a process with vast implications for the global economy: rethinking the framework by which it sets the interest rates that influence prices and lending in the US and just about everywhere else.

A strong conviction trade is being shaken. As international stocks are outperforming this year, global investors are asking if their faith in US exceptionalism has gone too far.

Alibaba Group Holding Ltd. pledged to invest more than 380 billion yuan ($53 billion) on AI infrastructure such as data centers over the next three years, a major commitment that underscores the e-commerce pioneer’s ambitions of becoming a leader in artificial intelligence.

The Trump administration took aim at China with a series of moves involving investment, trade and other issues that raises the risk ties may soon worsen between the US and its top economic rival.

JPMorgan Chase & Co. is dramatically ramping up its direct-lending effort, setting aside an additional $50 billion to capture a bigger chunk of the fast-growing market.

Berkshire Hathaway Inc. released its latest shareholder letter Saturday, and the content is — by and large — the usual timeless Warren Buffett fare.

There are several answers, but an important financial one is that recent fundamental market changes have been much more disruptive for egg buyers than computer-processing users.

Salesforce Inc. has signed a multibillion-dollar cloud deal with Alphabet Inc.’s Google, part of a larger effort to combine forces and attract corporate customers currently using Microsoft Corp.’s productivity and artificial intelligence products.

Apple Inc., as it seeks relief from US President Donald Trump’s tariffs on goods imported from China, said that it will hire 20,000 new workers and produce AI servers in the US.

President Donald Trump told a gathering of governors that Apple Inc. CEO Tim Cook promised him that the company’s manufacturing would shift from Mexico to the US during a meeting at the White House this week.

The road to faster adoption of electric vehicles in India will pass through the railways — not the romantic train travel that stirred the imagination of writers for over a century and continues to inspire Bollywood, but efficient high-speed journeys.

Coinbase Global Inc. said the Securities and Exchange Commission has agreed to drop its lawsuit that accused the largest US cryptocurrency trading platform of running an illegal exchange.

Trump Media & Technology Group Corp. is creating a new fund to invest in “America First” companies, a move that could further co-mingle the business and policy interests of President Donald Trump.

Robinhood Markets Inc. shares are heading for their worst week since August as they pull back from the crypto-fueled surge that followed the election of President Donald Trump.

Banks have pulled a handful of US leveraged loans from the market this month, as investors are pushing back on aggressive pricing and credits with less favorable ratings, even though demand is outweighing the overall supply of deals.

At least three of Bytedance Ltd.’s major investors have marked up the TikTok-owner’s valuation to more than $400 billion, a sharp rebound for a Chinese social video leader that has been threatened with a US shutdown.

Wall Street brokers and dealers are pushing back on a new margin rule that the world’s largest derivatives-clearing house has proposed to address the risk from the boom in zero-day options even after some revisions.

Sales of existing US homes fell last month for the first time since September, as the combination of high mortgage rates and prices sets a grim backdrop heading into the crucial spring selling season.

Alibaba Group Holding Ltd. is turning out to be a great investment this year: Not only its shares have jumped more than 60%, its convertible bonds are also up big time.

The European stock market’s rally to record highs has caught many strategists by surprise, leaving them racing to catch up and cautious on further gains.

Wall Street is still awaiting regulatory approval for the first full-blown private-asset ETFs, but for now opportunistic issuers are continuing to churn out products that claim to replicate the booming asset class — and stretching the definition of “liquid private equity.”

US liquefied natural gas exports have extended a record-breaking run as new projects increased production, a trend that could help to ease high prices in Europe and Asia.

Meta Platforms Inc.’s recent record-breaking, 20-day rally propelled the share price to a level where investors may start calling on the company to split its stock for the first time since going public in 2013.

Treasury Secretary Scott Bessent said that any move to boost the share of longer-term Treasuries in government debt issuance is some ways off, given current hurdles that include elevated inflation and the Federal Reserve’s quantitative tightening program.

Walmart Inc. forecast lower-than-expected profit for the full year, suggesting that the uncertain economic environment is hitting even the world’s largest retailer.

Might this be the year that stagflation returns to the US? It has been half a century: The last time the US economy had both excessively high inflation and unduly high unemployment was in the mid-1970s, with inflation rates reaching 12.2% in 1974 and unemployment at 8.5% in 1975.

If I were to ask investors to name the best businesses in America, I suspect many would point to the Magnificent Seven, and understandably so.

The Great DeepSeek Panic of January 2025 is officially over.

Alacrity Solutions found itself in a tough spot. The Indiana-based company helps property and auto insurers manage customer claims by taking calls, sending adjusters into the field and reviewing files.

Formula One’s rising popularity in the US has drawn an investment from a top-performing Morgan Stanley fund.

Stocks of North American natural gas exporters are trimming a three-year rally as the White House seeks a swift resolution to the war in Ukraine. Analysts say those companies could suffer even more if sanctions on Russian gas are lifted, adding new competition in their key markets.

Vanguard has unseated State Street for the title of the world’s biggest exchange-traded fund, ushering in a new world order for the $11 trillion industry.

As tariff tensions and stubbornly high inflation whipsaw US stocks, bullish Wall Street forecasters are urging investors to stay the course.

Elon Musk’s artificial intelligence startup xAI debuted its updated Grok-3 model, showcasing a version of the chatbot technology to challenge OpenAI days after the billionaire’s unsolicited cash bid to buy the company was rejected.

Coming into 2025, hopes for an increase in housing construction were pinned on lower borrowing costs. But with longer-term interest rates remaining stubbornly elevated and the Federal Reserve showing no urgency to ease policy, higher rents and home prices will be needed to drive an increase in production.

The Hang Seng Tech Index has soared 23% this year, far outpacing the Nasdaq 100’s 5.3% gain. Alibaba Group Holding Ltd. and Tencent Holdings Ltd.’s shares are back to their 2022 levels, while EV makers BYD Co. and Xiaomi Corp. hit new record highs.

US retail sales slumped in January by the most in nearly two years, indicating an abrupt pullback by consumers after a spending spree in the closing months of 2024.

Apple Inc.’s China business kicked off the Year of the Snake inauspiciously.

Meta Platforms Inc., after pushing into augmented reality and artificial intelligence, has identified its next big bet: AI-powered humanoid robots.

A hedge fund startup that uses artificial intelligence to do work typically handled by analysts has outperformed the global stock market in its first six months while slashing research costs.

Treasury yields dropped to weekly lows Friday after weak January retail sales data prompted traders to restore bets that the Federal Reserve will cut interest rates by September.

As we enter Valentine’s Day weekend, financial infidelity isn’t exactly a topic that exudes romance. But lovebirds who don’t make the discussion a foundational piece of their relationship risk adding avoidable strain on their union.

Markets always look their very best at the top - that's increasingly the case with gold as it nears $3,000 a troy ounce. It's behaving like a Veblen good, an item for which, contrary to the laws of economics, demand increases with price.

For four years, Indians sensed that the US was terrified of the word “trade.” Joint statements after summits buried trade such issues somewhere near the end; officials avoided the question at press conferences, preferring to focus instead on relatively esoteric concerns such as cooperation in space.

President Donald Trump ordered his administration to consider imposing reciprocal tariffs on numerous trading partners, raising the prospect of a wider campaign against a global system he complains is tilted against the US.

Federal Reserve Chair Jerome Powell said the latest consumer price data show that while the central bank has made substantial progress toward taming inflation, there is still more work to do.

Elon Musk praised his upcoming Grok 3 chatbot as an AI model outperforming everything else that’s been released thus far, and said the world would get to see it in a matter of weeks.

Investors in America’s biggest company are increasingly focused on China, where Apple Inc. is striving to win over a crucial customer base while also facing tariff-related risks.

Microsoft Corp. is bigger than most countries’ whole stock markets and its bond rating would be the envy of many nations.

Jeremy Grantham’s Boston-based investment firm is tapping into popular demand on Wall Street for emerging-market strategies that avoid China altogether, as investors prep for fresh disruptions across global supply chains on the back of Donald Trump’s combative trade posture.

US wholesale prices rose in January by more than forecast on higher food and energy costs, highlighting only limited progress on inflation ahead of tariffs imposed by the Trump administration.

President Donald Trump called for lower interest rates, seeking to raise pressure on the Federal Reserve as he moves to implement a second-term economic agenda high on tariffs and expanding tax breaks.

The Federal Reserve is set to refrain from cutting interest rates for “quite a while,” following a hotter-than-expected inflation report, according to Mohamed El-Erian.

Private equity firms are facing early tests to the theory that Donald Trump’s return to the White House is a net win for America’s dealmakers.

Nvidia Corp. investors have typically rushed to buy the stock on any dips. But the mood since the DeepSeek-driven rout has been different, signaling that fears of a slowdown in AI spending aren’t going away.

The AI flight is taking off, and DeepSeek is the final call for India to show up at the boarding gate. Since its private sector is too risk averse to back research projects with uncertain payoffs, the state will have to step up.

Billionaire investor David Tepper has certainly made up his mind. He doubled down on his bet on Chinese stocks last quarter, adding positions in e-commerce platforms Alibaba Group Holding Ltd. and JD.com Inc., as well as index funds that track some of the country’s biggest companies.

Gold endured a volatile few hours’ trading — rallying to a record, then paring gains — after President Donald Trump imposed tariffs on US steel and aluminum imports, adding to uncertainty in global markets.

Startup investors including Alphabet Inc.’s Google and SoftBank Group Corp. are betting that quantum computing, often thought of as a fantastical science experiment, is getting closer to having sweeping real-world applications.

OpenAI Chief Executive Officer Sam Altman rebuffed Elon Musk’s $97.4 billion offer to take control of the artificial-intelligence startup for the second time in less than a day, accusing the world’s richest man of making the bid just to gain a competitive advantage.

Bloomberg’s bonus calculator offers a revealing look at the divergent value of Wall Street employee payouts.

Oil smuggling isn’t easy, but it’s so enormously profitable that obstacles only slow it down. Sure, the authorities can make dealing illicit barrels a bit less financially rewarding; ultimately, however, the oil will flow.

President Donald Trump ordered a 25% tariff on steel and aluminum imports, escalating his efforts to protect politically important US industries with levies hitting some of the country’s closest allies.

US inflation showed scant signs of downward momentum at the start of the year, while healthy job growth undergirded the economy, backing the Federal Reserve’s stance to hold the line on interest rates for now.

Looking for an investment idea that’s paid off handsomely in commodities markets over the past six months? Try betting on the tropics.

If you’re looking to a popular stock market tracker like the S&P 500 Index to gauge the effect of President Donald Trump’s proposed tariffs, don’t. It’s likely to be insulated from much of the fallout and therefore fail to reflect the true impact on US businesses.

Everyone should have access to a quality retirement plan. That should not be a radical statement. People deserve to age with dignity and not worry about outliving their savings or paying for necessities like shelter and food.

At the start of this week, the question was whether the shock of China’s supercheap AI DeepSeek would compel Silicon Valley’s big artificial-intelligence companies to reduce their spending.

Some of America’s leading financial firms are hoping to sell the White House on what sounds like a compelling idea: Open employer-sponsored retirement plans to the private investments they manage, so regular folks can reap returns currently reserved for the wealthy.

The best performing US blue-chip bond funds of 2024 are sticking to their winning playbook: investing in debt from riskier blue-chip companies, as well as firms that can handle economic turbulence — and avoiding corporations sensitive to interest-rate risk.

US job growth moderated in January while annual revisions from the government also revealed less vigor in the labor market last year than previously thought.

Investors are hungry for a piece of the US data centers powering the artificial intelligence boom, and a handful of initial public offerings expected in 2025 would feed that appetite.

US government bonds fell as mixed employment data left traders holding tight to expectations that the Federal Reserve will keep interest rates steady until later this year.

Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.

Amazon.com Inc. shares have largely climbed on the back of two trends: strength in its cloud business and a focus on costs. Now both could be in question.

The best performing US blue-chip bond funds of 2024 are sticking to their winning playbook: investing in debt from riskier blue-chip companies, as well as firms that can handle economic turbulence — and avoiding corporations sensitive to interest-rate risk.

The resilience of the labor market over the past year has, in large part, been about strength in sectors such as education, health care and government that are somewhat immune to economic cycles.

Why would a bank suddenly shut down a customer’s adequately funded account? Some leading Republicans, echoing tech titans like Marc Andreessen, have warned of a conspiracy among regulators to “debank” conservatives and crypto enthusiasts.

Last week, DeepSeek’s emergence as an AI threat wiped half a trillion dollars of value off Nvidia Corp. Last night, Alphabet Inc.’s disappointing earnings sparked questions about its capital expenditures and put its stock on pace for the worst drop in more than a year.

The US Treasury on Wednesday maintained its guidance on keeping sales of longer-term debt unchanged well into 2025, despite newly installed Secretary Scott Bessent having criticized the issuance strategy of his predecessor before he was picked for the job.

Macquarie Group Ltd. is shuttering its US debt capital markets arm, a business that includes leveraged loan origination, syndication and trading, to focus resources on private credit, according to people with knowledge of the matter.

Gold climbed to a fresh record high, as trade-war worries bolstered haven demand and there were continued signs of short-term tightness in the market.

Vanguard Group Inc.’s biggest salvo yet in its campaign to cut fees for the investing masses presents industry rivals with a painful choice.

Investors plowed record cash into a pair of leveraged loan ETFs last week, in a high-conviction bet that the Federal Reserve will be slow to slash interest rates.

Despite being targeted by Beijing in retaliation to US trade tariffs, Alphabet Inc.’s durable growth and attractive valuation may offer insulation from all the geopolitical uncertainty.

Apollo Global Management Inc.’s plan to tap wallets of rich clients is paying off, with its wealth business raking in record capital last year and boosting assets from the sector 50%.

Hedge funds have long gotten bad press. Criticized for short selling, corporate agitation or destructive greed, their contribution to economic activity isn’t always clear.

The dollar and US stocks have benefitted tremendously from recent global portfolio inflows. As of June 2023, the latest data available, foreigners owned a record 17% of US equities.

After repeatedly blasting Janet Yellen last year over her department’s strategy for issuing federal debt, it’s now up to Scott Bessent to make the call on sales of Treasuries, with bond dealers conflicted over what he’ll do in a pivotal release due Wednesday.

Vanguard Group has slashed the fees for dozens of its mutual funds and ETFs in a record move that’s likely to send a shock wave through the asset management industry.

The US crude benchmark outpaced gains in other oil markets after President Donald Trump announced tariffs that threaten flows from two of America’s biggest foreign suppliers.

US bond markets are flashing a warning to US President Donald Trump that his move to unleash tariffs on top trading partners risks fueling inflation and stymieing growth.

I recently asked DeepSeek to model the impact of artificial intelligence on US labor productivity growth.

A lot has changed since a new administration took charge on Jan. 20, so the Federal Reserve’s decision last week to maintain its policy rate might seem odd.

Apple Inc. described its latest results as its “best quarter ever,” but that’s only true if you stop reading near the top of the press release issued Thursday evening. Overall revenue may have reached record levels, but big questions lurk about large parts of the iPhone maker’s business.

Carol Tomé, chief executive officer of United Parcel Service Inc., is ripping off a Band-Aid in one excruciating shot of pain to fix the courier’s post-pandemic problem with depressed profit margins.

Meta Platforms Inc. shares are on track for their longest streak of daily gains in almost a decade, with its latest earnings report adding to investor confidence about its strategy with artificial intelligence.

DeepSeek didn’t come out of nowhere. But it seemed to catch Silicon Valley and global investors by surprise this week, to the tune of billions of dollars in stock market value.

For the new Congress, deciding the fate of the 2017 Tax Cuts and Jobs Act will present an immediate dilemma. Allowing the law’s provisions to expire as scheduled at the end of the year would effectively raise taxes on tens of millions of Americans.

Concerns over Apple Inc.’s first-quarter results have met with 11th-hour optimism that it could eventually benefit from the same force that recently wreaked havoc on the tech sector.

It’s early days, but there already appears to be a clear buzzword among corporate executives this earnings season: tariffs.

A small band of Wall Street skeptics are moving to protect their credit portfolios against a market priced like nothing in the economy could possibly go wrong.

Boeing Co. reported on Tuesday that it burned through $14 billion of cash in 2024 and is likely to post negative cash flow this year as well. Regardless, its shares jumped as much as 7.6%.

By now, almost everyone has heard about DeepSeek, the Chinese-made AI that has taught the US a thing or two about building cheaper artificial intelligence.

Howard Lutnick, President Donald Trump’s nominee to lead the Commerce Department, offered a detailed defense of tariffs in his confirmation hearing, the clearest signal yet from a cabinet pick that the new administration is prepared to impose the levies on allies and adversaries alike.

Federal Reserve Chair Jerome Powell said officials are not in a hurry to lower interest rates, adding the central bank is pausing to see further progress on inflation following a string of rate reductions last year.

US Treasuries were lower as traders parsed tweaks to the Federal Reserve’s policy statement regarding progress on the fight against inflation.

“Debanking” is about to get a lot of airtime in US politics, but be warned: This debate is a chimera. Crypto enthusiasts, culture warriors and banks all have dogs in the hunt, with each leaning on the others’ interests and narratives to advance their own.

If OpenAI LLC were a listed company, Monday would have been a very bad day for the stock.

Buried in a rote US Treasury survey released on the eve of the latest holiday weekend was a question that all of Wall Street wants the answer to: What’s the Federal Reserve’s plan once it’s done drawing down its crisis-era bond holdings?

Every year, millions of Americans living abroad suffer a profound administrative indignity: complying with a US income-tax regime that treats them like miscreants and complicates the lives even of those who owe nothing.

New York Governor Kathy Hochul has proposed restrictions on large financial firms buying homes, and state legislators in Virginia and Nebraska have similar ideas.

Microsoft Corp. and OpenAI are investigating whether data output from OpenAI’s technology was obtained in an unauthorized manner by a group linked to Chinese artificial intelligence startup DeepSeek, according to people familiar with the matter.

Oaktree Capital Group LLC co-founder Howard Marks says investors who made a fortune in the era of easy money should not expect the same strategies to deliver such exceptional returns in the future.

When it comes to degrees of difficulty, this week’s Federal Reserve meeting is shaping up as a walk in the park compared to what awaits policymakers down the road.

DeepSeek, a Chinese artificial intelligence startup, has developed a model that can apparently answer questions as well as any chatbot in the US. It might even help answer a long-running question on Wall Street without being asked.

The S&P 500 Index plummeted as much as 2.3% on Monday over DeepSeek, a Chinese artificial intelligence startup that developed a model competitive with the US’s very best — and, supposedly, on the cheap.

Pacific Investment Management Co. is among asset managers looking at buying a portion of $3 billion of debt tied to Elon Musk’s buyout of X, according to people with knowledge of the matter.

As the Federal Reserve’s two-day meeting begins, investors have accepted that the central bank probably won’t be cutting interest rates this time.

Bosses at artificial intelligence companies aren’t worried about the end of the world or the start of government regulations. Their biggest worry is more mundane: finding enough electricity to keep servers running at data centers.

Exchange-traded fund investors who placed record bets on the US technology space last week are getting crushed Monday as anxiety over competition from a Chinese startup’s AI model is hitting tech stocks hard.

Treasuries rallied on Monday as investors flocked to the safety of US government bonds after equities slumped in a selloff driven by technology shares.

Chinese artificial intelligence startup DeepSeek’s latest AI model sparked a $1 trillion rout in US and European technology stocks, as investors questioned bloated valuations for some of America’s biggest companies.

Bitcoin and other cryptocurrencies tumbled, following technology stocks lower, as the emergence of a new Chinese artificial-intelligence model triggered a global selloff in riskier assets.

Three factors heavily influenced the financial landscape over the last 12 months — AI-focused technological optimism, hoped-for leveling up, and higher government bond yields.

Last year, the chief executive officer of a leading AI firm was asked at a private Silicon Valley dinner about how his company differentiated from others building “foundation models,” the systems underpinning chatbots like ChatGPT.

Four years after handling the first conversion of a hedge fund to an ETF, Wes Gray is gearing up to lead a surge of tax-busting deals aimed at investors big and small.

The world’s biggest stock market is heading for its best start for a new US president since Ronald Reagan was sworn in to power in 1985.

US bond funds actively managed by industry heavyweights like Pacific Investment Management Co. attracted the most new investment last year as money returned after a two-year dry spell.

Apple Inc.’s stock has had a rough start to the year and is now flirting with a key level that could signal more downside ahead if breached.

A seemingly unstoppable flood of money has Vanguard Group Inc. on the brink of claiming a crown that State Street Corp. has held for decades.

In a small Texas city nearly 200 miles west of Dallas, the first data center associated with the $100 billion Stargate venture from OpenAI, SoftBank Group Corp. and Oracle Corp. is taking shape.

Meta Platforms Inc. plans to invest as much as $65 billion on projects related to artificial intelligence in 2025, including building a giant new data center and increasing hiring in AI teams, Chief Executive Officer Mark Zuckerberg said Friday.

Changpeng “CZ” Zhao, a few months out of prison and worth $70 billion thanks to the relentless crypto rally, is turning the former venture capital arm of his Binance Holdings Ltd. into a family office.

Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.

General Electric Co., known now as GE Aerospace, has reclaimed its position as the largest industrial company by market value as jet engine production and after-market service both ramp up.

For the third time in four years, the stock picker beating everyone is Fidelity Investments Inc.’s decoder of computer chips, crushing every measure of performance as the more popular passively managed index funds tracking market benchmarks proved little more than also-rans in 2024.

A tech-powered approach to bond trading that helps firms move hundreds of securities in one go has just posted its best year yet.

An exchange-traded fund from a relatively unknown shop is catching the attention of online traders and gathering flows after investing in Elon Musk’s SpaceX.

Oracle Corp. has charged out of the gate in 2025, after its best year in a quarter-century.

Free trade is in trouble. That’s hardly startling news when the US has an avowed protectionist in the White House, but the problem runs deeper than it may at first appear.

The gap between US federal spending and tax revenue is currently bigger, as a share of gross domestic product, than it’s ever been outside of major war or other crisis.

Saudi Arabia’s Crown Prince Mohammed Bin Salman told President Donald Trump he’s willing to expand investments and trade with the US in the coming four years by $600 billion, according to the kingdom’s state-run news agency SPA.

Netflix Inc. shares soared to a record high on Wednesday after the streaming giant reported its biggest quarterly subscriber gain in history, buoyed by its first major live sporting events and the return of Squid Game.

The ETF industry’s upstart-in-chief is back with another roll of the new-product dice — this time betting on a game-changing expansion of Wall Street’s zero-day options boom.

JPMorgan Chase & Co.’s dealmakers are spending their time in the Swiss Alps huddling with ebullient clients, but the boss of the biggest US bank is striking a more cautious tone.

Bridgewater Associates founder Ray Dalio has a new book to promote. So while I am loath to fuel the sales campaign, his latest bomb in an interview with the Financial Times — warning of a “death spiral” for Britain’s sovereign debt — requires a riposte.

SoftBank Group Corp., OpenAI, and Oracle Corp. are forming a $100 billion joint venture to fund artificial intelligence infrastructure, an effort unveiled with President Donald Trump aimed at speeding development of the emerging technology.

Apple Inc. received a pair of analyst downgrades, in the latest sign that soft iPhone sales are becoming an increasing concern for investors, as artificial intelligence fails to act as a hoped-for growth catalyst.

There’s a lot of chatter on Wall Street about artificial intelligence replacing analysts — the folks at banks and brokerages who tell investors which stocks to buy, hold or sell. The bots should be able to make those recommendations just as well as humans.

Since the start of the new year, the bond market has been urging Congress to come to terms with America’s spiraling budget problems. Soon it might be demanding immediate action.

US government bond yields approached their lowest levels of the year after President Donald Trump refrained from immediately implementing tariffs and oil prices declined, easing inflation concerns.

President Donald Trump launched a sweeping overhaul of US energy policy hours after taking office Monday, putting the weight of the federal government behind fossil-fuel production and pulling back from the fight against climate change.

Donald Trump opened his second term as US president with a market-jolting recalibration of his tariff policies, in a sign of turbulence ahead for investors and corporate executives.

New Yorkers bowing their heads into a cutting wind is typically a bullish sign for natural gas prices, and this January is no exception.

The Tax Cuts and Jobs Act that President Donald Trump signed into law in December 2017 imposed a $10,000 limit on the amount of state and local taxes that can be deducted on a federal income tax return.

The latest US sanctions on oil tankers hauling Russian petroleum look set to cause severe disruption across the nation’s export machine, with some of Moscow’s flows at risk of a near wipeout if history is any guide.

Donald Trump’s return to the White House will likely protect US stocks from a big selloff, according to Bank of America Corp. strategists, as investors focus on his protectionist agenda and proposals for lower corporate taxes.

The Federal Reserve faces a reckoning: Sometime soon, it’ll probably have to subject its stress tests to public scrutiny, highlighting serious flaws in what has become its primary tool for ensuring the resilience of the banking system.

Surging long-term interest rates and stubborn inflation are inflaming divisions among congressional Republicans over paying for the sweeping tax cuts Donald Trump promised, complicating the path to passage with the party’s already tenuous majority.

Advisers to President-elect Donald Trump are crafting a wide-ranging sanctions strategy to facilitate a Russia-Ukraine diplomatic accord in the coming months while at the same time squeezing Iran and Venezuela, people familiar with the matter said.

BlackRock Inc. is tapping into a fast-growing corner of the options-powered ETF world with an offering aimed at Wall Street investors bracing for the S&P 500 to tread water.

MicroStrategy Inc.’s Michael Saylor may soon have almost as many common shares at his disposal to help fund the company’s Bitcoin buying spree as market behemoths Amazon.com Inc. and Alphabet Inc. have outstanding.

First came the raid on a Mexico City shopping center known for selling Chinese-made clothing, toys and electronics

Microsoft Corp. has plowed tens of billions of dollars into artificial intelligence. With its stock struggling, the key question is how quickly those investments can prove to be successful.

Canada’s stock market — where returns have lagged the US for two straight years — might offer investors protection against a downturn in US stocks, a Toronto-based asset manager says.

There will be more humanoid robots than people by 2040, Elon Musk recently bragged.

Whether you’re speaking with Europe’s largest money manager, Australia’s giant pension funds, or a cash-rich insurer in Japan, there’s a resounding message you’ll hear when it comes to US Treasuries: They are still hard to beat.

For all of Wall Street’s excitement about Donald Trump’s growth agenda, the biggest banks are ending the Biden years on a high note.

Wall Street breathed a sigh of relief after a surprise slowdown in inflation spurred a stock rally and a plunge in bond yields, reinforcing bets the Federal Reserve is on track to keep cutting rates this year.

The latest updates on the labor market and consumer prices show President-elect Donald Trump inherits an economy where inflation is poised to return to the Federal Reserve’s target later this year.

BlackRock Inc. attracted an annual record of $641 billion in client cash, underlining the firm’s global reach across public and, increasingly, private assets as it integrates multibillion-dollar acquisitions and reshapes its leadership.

Goldman Sachs Group Inc. cruised past estimates as its equity traders delivered their best year on record.

Nvidia Corp.’s $3 trillion run-up in market value in the two years since ChatGPT helped trigger an AI frenzy is bigger than any stock rally in history in such a short time span.

Jamie Dimon, who turns 69 in March, will one day retire as chief executive officer of JPMorgan Chase & Co. The candidates to succeed him have been well advertised.

One of the longest, most technical and, as it turns out, most inconsequential public-policy debates of the 21st century was about net neutrality.

On top of the human tragedy they’re still inflicting, the Los Angeles wildfires are exposing a gap between what people thought their homes were worth and what they’ll actually get from insurance companies when those houses have been reduced to ash. Potentially thousands of homeowners are learning it won’t be nearly enough.

US government bonds surged as benign inflation data prompted traders to resume their bets on additional Federal Reserve interest rate cuts by July.

Wall Street was set for a higher open on Tuesday, though a renewed rise in Treasury yields damped the sentiment boost offered earlier by the prospect of gradually imposed US trade tariffs.

Chinese officials are evaluating a potential option that involves Elon Musk acquiring the US operations of TikTok if the company fails to fend off a controversial ban on the short-video app, according to people familiar with the matter.

Traders are bracing for one of the most volatile earnings periods in stock market history.

Over the past few months, I’ve had occasion to speak at a number of conferences concerned with the impact of artificial intelligence on financial jobs.

Private equity wants access to Americans’ retirement accounts, and is lobbying President-elect Donald Trump’s administration to get it.

The recent surge in bond yields is directing renewed attention to America’s grim fiscal outlook.

For decades, one of Saudi Arabia’s most strategic overseas outposts was a little-known office in New York City that coordinated its oil sales to American clients.

Goldman Sachs Group Inc. has upgraded its dollar forecasts, citing a robust US economy and likely higher tariffs that may slow monetary easing.

OpenAI’s top executives are planning to host events in Washington DC and two key swing states to bolster support for investment in artificial intelligence as the company adapts to the biggest change in the US political landscape since ChatGPT launched.

Taiwan Semiconductor Manufacturing Co.’s quarterly sales topped estimates, reinforcing investor hopes that the torrid pace of AI hardware spending will extend into 2025.

Chinese investors’ fierce appetite for overseas shares has triggered rare, full-day suspensions on a pair of exchange-traded funds tracking global equities.

Energy is the star sector of the S&P 500 Index in the early days of 2025, shaking off two consecutive years when it was a market laggard, and gaining despite Wall Street’s dim outlook for oil and gas stocks.

When Mark Zuckerberg earnestly looked at a camera and told the world (or President-elect Donald Trump) that he was shutting down all fact-checking on Facebook and Instagram, he left out some important context.

US Treasuries plunged as evidence of a resilient labor market pushed traders to shift their expectations for the Federal Reserve’s next interest-rate cut to the second half of the year.

Indonesia isn’t taking a step back from its hardball approach to Apple Inc. The showdown has turned into quite a spectacle, but it’s unlikely the wins will be sustainable.

Invesco Ltd.’s ETF lineup absorbed a record amount of cash in 2024 from at least two classes of investors: those chasing AI-driven gains, and those shying away from big tech’s sway.

After cementing its position as the dominant player in the US for a niche but highly lucrative investment vehicle, Janus Henderson is looking to try its luck in Europe.

Stock investors have been watching the runup in US Treasury yields with considerable alarm of late.

A contestant could be forgiven for guessing Boeing Co., but the correct answer would be General Electric Co., and the talented executive is Larry Culp.

A messy, ongoing tech breakup between the US and China is forcing a rethink about what the industry might look like for consumers in a decoupled world.

Most people assume that the S&P 500 Index will go up over long holding periods.

US investment banks have little room for error in their upcoming full-year results.

Federal Reserve Bank of Philadelphia President Patrick Harker said officials are on track to lower interest rates this year, but the exact timing will depend on what happens with the economy.

The selloffs that keep flaring in the world’s bond markets are pushing yields toward key thresholds amid escalating worries about elevated inflation, tempestuous politics and swelling government debts.

President Joe Biden’s administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia Corp. just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.

US mortgage rates edged up to just shy of 7% at the turn of year and a gauge of home-purchase applications tumbled to the lowest level since February, adding to evidence of a struggling housing market.

A cohort of about 20 Republican House members from New York, New Jersey and California was invited to meet with President-elect Donald Trump at his Mar-a-Lago estate Saturday ahead of a looming fight over an extension of his 2017 tax cuts.

The 20-year Treasury bond offered a grim warning as a selloff fueled by inflationary angst gripped global debt markets: 5% yields are already here.

The AI boom of the past two years has largely been a two-horse race. Alphabet Inc.’s Google and Microsoft Corp.-funded OpenAI have duked it out for customers, while Amazon.com Inc. and Meta Platforms Inc. have nibbled at the margins for market share.

A few weeks ago, a reader emailed to challenge what he described as our “cautionary, skeptical and net negative” stance on Bitcoin.

Every central banker has a make-or-break moment. As the euro crisis raged in 2012, then-European Central Bank boss Mario Draghi took to describing the common currency as a “bumblebee”:

President-elect Donald Trump is said to be interested in the privatization of the US Postal Service, a prospect that also appeals to his DOGE project and its allies in Congress.

Federal Reserve Governor Lisa Cook said policymakers can proceed more cautiously with additional rate cuts, citing a sturdy labor market and recent bumpiness in inflation data.

Nvidia Corp. investors have high hopes that Monday’s speech from CEO Jensen Huang will spark a fresh breakout in the chipmaker’s shares, which have plateaued since November after roaring higher for much of 2024.

The most telling moment in the Biden Administration’s decision to block Nippon Steel Corp.’s attempted takeover of United States Steel Corp. was unintentional.

Money managers are seeing plenty of reasons to remain bullish on gold, following a stellar 2024 that saw the precious metal post its biggest annual gain since 2010.

President Joe Biden is indefinitely blocking offshore oil and gas development in more than 625 million acres of US coastal waters, warning that drilling there is simply “not worth the risks” and “unnecessary” to meet the nation’s energy needs.

MicroStrategy Inc. bought $101 million of Bitcoin after announcing that it would use perpetual preferred stock as well as common shares and debt to acquire more of the cryptocurrency.

What happens in the US economy doesn’t always stay there, particularly when it comes to the UK.

Federal Reserve Chair Jerome Powell has indicated that the central bank’s communication will be part of its 2025 monetary policy review.

The incoming Trump administration has set a goal of growing the economy by 3% per year, similar to promises made during Donald Trump’s first term in office.

Quant funds that make money surfing the momentum of markets saw a promising year slip away in 2024 when big bouts of volatility lashed everything from Japanese stocks to cocoa futures and Treasuries.

Purveyors of exchange-traded funds are finding ever more creative — and potentially riskier — ways to lure investors into the crypto craze.

The US banking system’s reserves, a key factor in the Federal Reserve’s decision to keep shrinking its balance sheet, tumbled below $3 trillion to the lowest since October 2020.

President Joe Biden has blocked the $14.1 billion sale of United States Steel Corp. to Nippon Steel Corp., killing a high-profile deal that sparked a political firestorm and tensions between the US and Japan.

Maybe you have a pile of cash to invest, but you’re terrified of putting it into a US stock market near record highs.

When Jaguar’s “copy nothing” brand reboot hit late last year, one self-styled car enthusiast replied on X: “What the actual hell is this.” Jaguar’s response: “The future.”

The clouds that hung over the financial-technology industry in 2024 appear to be clearing as interest-rate cuts, recoveries in fintech stocks and promises of a looser regulatory environment in the second Trump administration paint a more promising outlook for startups.

It’s that time of year when Wall Street soothsayers look ahead 12 months and try to divine the path of US stocks.

This year is shaping up to be a dramatic one for climate tech investors.

Chinese stocks posted their worst start to a year in nearly a decade as investors braced for economic uncertainties with weaker-than-expected manufacturing data and an anticipated hike in tariffs.

The Federal Reserve has begun one of its reviews of “monetary policy strategy, tools and communications.” This month’s cut in interest rates and investors’ reaction to it underline just why such a review is needed.

Before I undertake the hard task of predicting where the crypto industry will go in 2025, let’s take a minute to recall where it has been.

It’s now half a decade since anything in the US housing market could be considered normal. The pandemic boom was followed by a transaction bust, induced by the central bank, that did little to lower sky-high prices.

European stocks fell in the penultimate trading session of 2024, a year of modest gains for the region that contrasted with the bullish Wall Street rally.

While Bitcoin’s surge above $100,000 captivated the headlines in 2024, many financial firms were more focused this year on a different type of cryptocurrency whose price is never meant to rise — or fall for that matter.

By this time last year, the stock market’s rally had blown past even the most optimistic targets and Wall Street forecasters were convinced it couldn’t keep up the dizzying pace.

Gold is heading for one of its biggest annual gains this century, with a 27% advance that’s been fueled by US monetary easing, sustained geopolitical risks, and a wave of purchases by central banks.

I will be looking at a few indicators in 2025 to tell me where financial markets are going. Most of them relate to the bond market, because it is both a window into the overall economy and an important component of how stocks and other risky assets are valued.

On a rather quiet final Friday of the year, I used my Bloomberg Terminal to check how key government bond yields in advanced economies have changed in 2024.

Advances in AI, including artificial general intelligence, are very likely to continue — but it’s unclear how much of a difference they’ll make.

BlackRock Inc.’s iShares unit offers more than 1,400 exchange-traded funds around the world, yet none of them have performed quite like this.

A Bitcoin rally is fizzling in the final days of a record-breaking year for the digital asset, as investors assess the remaining impetus from President-elect Donald Trump’s embrace of the cryptocurrency sector.

Treasuries were mixed in thin trading as traders absorbed the prospect of a less aggressive path ahead for Federal Reserve interest-rate cuts and priced in greater risk for US long-term debt.

The dollar is headed for its best year in almost a decade as US economic strength reins in expectations for the Federal Reserve’s rate-cutting cycle and President-elect Donald Trump’s threats of harsh tariffs underpin bullish bets on the currency.

Tokenization, or the process of creating digital representations of real-world assets on a blockchain, has become one of this year’s buzzwords in both conventional and crypto finance circles.

The new year will start with plenty of intrigue, especially in manufacturing, aerospace and logistics, the area where I hunt for interesting storylines about how companies navigate opportunities and pitfalls.

OpenAI, founded a decade ago as a research organization, is considering a change to the AI company’s structure that would create a more conventional money-making corporation alongside a nonprofit arm.

Recommend reading that provides a bed of knowledge for the key themes we think will define 2025. Ours differs from other lists you might see elsewhere at this time of year in that we focus on relevance rather than recency, though there are new books here, too.

The eclipse of the dollar, and with it the ability of the US to borrow on a scale that would cripple any other country, has been long predicted. For at least half a century, skeptics have counted on something — or someone — coming along to knock American assets from their perch. Don't plan for a requiem just yet.

Treasuries were under pressure in a holiday-shortened session as investors remain wary to park cash in US government debt that matures in a decade or more.

US crude exports to China plunged by almost half this year as shifts in the nation’s economy weighed on demand and it bought more barrels from other countries including Russia and Iran.

Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job.

The C-suites and boardrooms of corporate America should be on high alert entering 2025.

America’s national debt would have horrified Ronald Reagan.

China’s policymakers plan to sell a record 3 trillion yuan ($411 billion) of special treasury bonds in 2025, Reuters reported on Tuesday, a move aimed at bolstering the slowing economy.

A rude surprise could be in store for the millions of Americans who get health coverage through the Affordable Care Act. If Congress doesn’t act next year, enhanced premium subsidies will expire by December, causing enrollees’ payments to increase by more than 75% on average.

People often make a distinction between “good debt” and “bad debt,” in terms of both personal finances and public spending.

Emerging markets-focused investors have had little to celebrate over the past year.

The crypto market’s center of gravity is back in the US as 2025 approaches, courtesy of Donald Trump’s reelection to the presidency and widening demand for the nation’s digital-asset funds and derivatives contracts.

Some hedge fund managers are sounding the alarm on overvalued nuclear power stocks and scaling back exposure after a stunning rally this year.

To Michael Saylor’s online fanbase, it’s the next step in the great normalization of crypto: Bitcoin proxy MicroStrategy Inc. enters the S&P 500 next year, forcing the likes of index-tracking funds to buy his controversial company en masse. Whether they like it or not.

Orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.

Bond traders have rarely suffered so much from a Federal Reserve easing cycle. Now they fear 2025 threatens more of the same.

Forced to seek a government rescue barely a year ago, Siemens Energy AG was an unlikely candidate for Europe’s best performing stock of 2024.

This is the first part of a series of Bloomberg Opinion columns exploring the risks related to the US’s rapidly expanding debt and budget deficit.

OpenAI is preparing to launch a new artificial intelligence model that it said is capable of more advanced human-like reasoning than its current offerings, ratcheting up the competition with rivals such as Alphabet Inc.’s Google.

From Brazil to South Korea, emerging-market central banks are forming a line of defense as a rising dollar pushes their currencies to multi-year lows.

Delivering the first cuts in interest rates since the early days of the pandemic was the easy part.

Private credit firms want more than corporate lending. The largest are laying the groundwork to finance everything from auto loans and residential mortgages to chip manufacturing and data centers in an effort to swell the size of the market by the trillions.

Amid Donald Trump’s chaotic, last-minute intervention into congressional negotiations about government funding, he has stumbled upon a good idea: He wants to abolish the debt ceiling.

Take it from Niels Bohr: “Those who are not shocked when they first come across quantum theory cannot possibly have understood it.”

Surely one of the silliest things that happened in tech stocks in 2024 was the sudden tumble in Nvidia Corp. shares moments after its fiscal second-quarter earnings release in August.

Bitcoin extended its slide from this week’s record high to almost 15% as hawkish signals from the Federal Reserve prompted traders to sell an asset that has more than doubled this year.

The $10.4 trillion US exchange-traded fund industry’s blockbuster year comes with an asterisk: even amid record inflows and launches, funds are shuttering at a nearly unprecedented clip.

US Treasuries gained after a closely watched batch of inflation data came in below expectations, leading traders to lift the outlook for Federal Reserve interest-rate reductions next year.

Central banks’ climbdown from the post-pandemic inflation peaks commenced amid both optimism and trepidation.

Almost exactly one year after sparking a furious rally in financial markets, Federal Reserve Chair Jerome Powell did the exact opposite on Wednesday, staking out a cautious view on interest-rate cuts in 2025 that stunned investors.

In normal times, the conduct of monetary policy is a lot like driving a car through a thick fog of uncertainty. You have a general idea of where you’re going, but you want to move slowly to avoid accidents. At the moment, it’s more like driving while double blindfolded — in a car with malfunctioning brakes. The most prudent move is to stop.

Existing-home sales in the US topped a rate of 4 million in November for the first time in six months as house hunters begrudgingly accept mortgage rates above 6%.

A BlackRock Inc. fund has bought municipal debt issued earlier this year in a first-of-its-kind deal that relies exclusively on blockchain technology.

At a time when the American consumer’s resiliency has been questioned amid signs of a slowing economy, Walmart Inc. has thrived. The world’s largest retailer, famed for its discount prices but increasingly known for its pursuits in advertising and an online marketplace, is headed for its best year since 1998.

The clean-tech venture firm founded by Bill Gates is providing a $40 million grant to carbon-capture startup Deep Sky Corp., which seeks to build large-scale facilities to clean carbon from the air.

While concern has grown in the past week that narrowing market breadth has tapped the brakes on the S&P 500 Index’s blistering rally, it turns out that stock bulls are still stepping in to snap up shares ahead of the Federal Reserve’s interest-rate decision.

Some bond traders have been boosting options and futures wagers that the Federal Reserve is about to signal deeper interest-rate cuts next year than the market anticipates.

Alphabet Inc.’s Google has reanimated excitement over quantum computing with an announcement about how its new chip, Willow, trounced a classical computer to solve a mathematical equation much faster.

Meet the new stock pickers. They will remind you of the old stock pickers.

New exchange-traded funds riding buzzy investment themes are helping fuel record industry growth this year. Yet, it’s also shaping up to be a banner era for money managers revamping their tried-and-tested mutual funds into the tax-efficient product.

Broadcom Inc.’s massive rally after last week’s earnings report is reminiscent of when Nvidia Corp. shares first started to take off back in 2023.

MicroStrategy Inc.’s entry into the Nasdaq 100 opens up the largest corporate holder of Bitcoin to a new — and untapped – investor: the index-tracking juggernauts.

Xi Jinping and Donald Trump's bromance could be rekindled in 2025, if both sides play their cards right.

Investors see recent inflation data as a green light for the Federal Reserve to trim another quarter point from the short-term interest rate.

From Wall Street funds to small-time day traders, those who dared to bet big on Elon Musk’s business empire are closing out the year with hefty payoffs, as Donald Trump’s US election win turbocharges the fortunes of the world’s richest man.

Bitcoin rose to a record high on President-elect Donald Trump’s support for digital assets and optimism about the upcoming inclusion of MicroStrategy Inc., an accumulator of the token, in a key US stock gauge.

Investors anticipating another calm year in 2025 should be on guard for more shocks like the one seen in August as uncertainty around Donald Trump’s tax and tariff policies threaten to roil markets.

Jeremy Grantham’s valuation-oriented investment firm is famous on Wall Street for trumpeting the contrarian, and decidedly bearish, views of its co-founder, seemingly every passing year.

There is widespread agreement in markets and among economists that the Federal Reserve will cut interest rates at its policy meeting on Wednesday.

Rice paddies that lay fallow for decades in some of Japan’s most far-flung regions are now its hottest properties.

When US Federal Reserve Chair Jerome Powell faces the media after the central bank’s policy-making meeting next week, he’ll probably get a politically fraught question: How will the Fed incorporate president-elect Donald Trump’s stated plans — including tax cuts, tariffs and deportations — into its economic outlook and monetary policy?

Broadcom Inc., a chip supplier for Apple Inc. and other big tech companies, rallied in premarket trading after predicting a boom in demand for its artificial intelligence chips.

Federal Reserve officials will lower interest rates this month for a third straight time and pare back the number of rate cuts they anticipate next year, according to economists surveyed by Bloomberg News.

From Wall Street funds to small-time day traders, those who dared to bet big on Elon Musk’s business empire are closing out the year with hefty payoffs, as Donald Trump’s US election win turbocharges the fortunes of the world’s richest man.

Emerging-market currencies in Asia and the South African rand retreated as China’s policy makers appeared to disappoint investors expecting fiscal measures to boost the economic outlook.

China got a head start on a looming trade war with the US by showcasing a new range of tools it’s prepared to use if Donald Trump makes good on his threat to punish the world’s second-biggest economy with tariffs.

The near-$5 trillion hedge fund industry is having one of the toughest years in decades in convincing fee-conscious investors to fork out cash for new market players.

To most of us, a power plant is a source of electricity. To Exxon Mobil Corp., it’s a machine that converts natural gas into money. And this is a propitious time for doing that.

In the two years since ChatGPT burst onto the scene, artificial intelligence has come to dominate investor consciousness more than any other technological breakthrough in the past two decades.

SpaceX and its investors have agreed to purchase as much as $1.25 billion of insider shares in a transaction valuing Elon Musk’s rocket and satellite maker at about $350 billion, according to an internal email seen by Bloomberg.

Inflation optimists were riding high at the start of 2024. Price pressures seemed to be cooling quickly, and market pricing suggested that the Federal Reserve might lower policy rates by a whopping 1.75 percentage points this year.

US consumer prices rose at a firm pace in November that was in line with expectations, solidifying expectations for the Federal Reserve to cut interest rates next week.

US Treasuries gained and traders boosted their bets on a Federal Reserve interest-rate reduction next week after a report showed consumer prices last month accelerated in line with expectations.

What is there to say with Bitcoin at $100,000 for those of us who thought $10,000 looked nuts.

ByteDance Ltd.’s options for TikTok in the US are looking increasingly desolate, as the tech war between Washington and Beijing boils over.

Google debuted a new version of its flagship artificial intelligence model that it said is twice as fast as its previous version and will power virtual agents that assist users.

India’s institutional strength used to be reflected in the reliability of its national accounts.

December is a big month for stock buybacks, and by month’s end, companies are expected to spend more money repurchasing shares this year than ever before.

A bout of selling buffeted crypto as the optimism sparked by President-elect Donald Trump’s embrace of the sector begins to cool.

Alphabet Inc.’s Google is investing in mega energy parks that will generate renewable power as the company races to fuel its data centers.

Morgan Stanley and Citigroup Inc. wealth executives are seeing private markets increasingly shape their businesses, marking a major shift from liquid assets that historically drove financial markets.

A resilient US economy and deepening geopolitical tensions around the world are making asset managers rethink their expectations for a weaker dollar.

China has opened a probe into Nvidia Corp. over suspicions that the US chipmaker broke anti-monopoly laws around a 2020 deal, taking aim at the AI heavyweight as Washington ramps up sanctions.

he economic-policy consensus that prevails in the US is right about one thing.

As a concept, environmentally responsible investing is in its flop era. Right-wing backlash has turned “ESG” into a four-letter word in terrified corporate boardrooms.

I am (mostly) bullish on crypto and (usually) skeptical of higher taxes, especially on capital gains.

China’s central bank will deliver the biggest interest-rate cuts in a decade next year as policymakers intensify efforts to shore up growth and arrest deflation, in the view of a number of Wall Street lenders.

Private credit may be all the rage among investors, but there are better alternatives, according to JPMorgan Asset Management.

Getting a stay of execution doesn’t mean you’re no longer on death row.

In the port city of Duluth, Minnesota, local activists and Washington-based groups are coalescing to scrutinize — and possibly stall — a $6.2 billion acquisition of a power utility led by Global Infrastructure Partners.

Bitcoin has shot up more than 40% since Donald Trump’s victory in the US presidential election, in part on hopes that he’ll champion a government reserve devoted entirely to the cryptocurrency.

The passive-investing juggernaut is picking up speed — and it’s stirring up fresh angst about the dangers posed by the index-tracking boom across Wall Street.

There was a great chart in a recent Goldman Sachs Group Inc. report that got me wondering whether medium-size companies might have superpowers. Here’s my adaptation of the original graphic

Bond traders seeking support for bets that the Federal Reserve will cut interest rates later this month will closely watch Friday’s US employment report for November.

Hedge fund executive Cliff Asness says artificial intelligence is becoming “annoyingly better” at doing parts of his job.

President-elect Donald Trump’s pick of a crypto proponent to be the next head of the US securities regulator lifted Bitcoin to $100,000 for the first time as traders warmed to the prospect of relaxed regulations.

To sate his multibillion dollar rampant appetite for Bitcoin, Michael Saylor has tapped demand from retail investors transfixed by MicroStrategy Inc.’s more than 500% rally this year. He’s also benefited from hedge funds who care far less where the stock trades.

Quite a few observers have described the dramatic fall of the Barnier government in France not just as a political crisis but also an economic and financial crisis.

Since its enactment in 2022, the Chips and Science Act — a $280 billion splurge intended to revive US semiconductor manufacturing — has been at best a mixed success. A $7.9 billion grant to Intel Corp., announced by President Joe Biden’s administration last week, shows how this gravy train may be headed off the rails.

Emerging-market currencies held gains after Federal Reserve Chair Jerome Powell said policymakers could move cautiously as they lower interest rates. The South Korean won rebounded on Wednesday as President Yoon Suk Yeol rapidly reversed his martial law declaration.

Federal Reserve Chair Jerome Powell downplayed the prospects of tension with the incoming Trump administration and said he expects officials can move cautiously as they continue lowering interest rates.

China’s major technology stocks have been left behind in this year’s global frenzy over artificial intelligence, and a lack of demand for actual AI usage coupled with geopolitical pressures make it unlikely they can cash in anytime soon.

The $1.8 trillion federal budget deficit in the fiscal year that ended in September was the third biggest ever in dollar terms, trailing only the pandemic deficits of the 2020 and 2021 fiscal years. As a share of gross domestic product, a better gauge for historical comparisons, it was, at 6.4%, the biggest ever outside of a large war or global crisis.

Next week’s European Central Bank meeting is more important than it might first appear.

The trend is your friend. Or, in Larry Fink’s case, your primary acquisition tickbox.

Donald Trump’s tariff barrage may trigger a response from the Federal Reserve that the new president won’t like.

Bond traders are positioning for the US Treasuries market to extend its recent advance, showing confidence that yields will continue to pull back from the peaks hit after Donald Trump’s election victory.

Dollar bulls emboldened by Donald Trump’s win are entering a month that has historically punished the greenback.

BlackRock Inc. agreed to buy HPS Investment Partners in an all-stock deal valued at roughly $12 billion, a purchase that will propel the world’s largest asset manager into the highest ranks of private credit.

It’s the anniversary of the first-ever controlled nuclear fission chain reaction. And it’s the day that Enron filed for Chapter 11 bankruptcy in 2001.

One of the most important issues for Congress next year is tax reform.

Next year, the US Federal Reserve will undertake an exercise with global implications: the periodic monetary policy framework review, at which it rethinks its approach to managing the world’s largest economy.

Big banks have been warning their investors about the competition they face from private credit, electronic market makers and others for some time.

he best scandals are those that start when someone, somewhere, decides to say something utterly shocking: the truth! A senior official of the OPEC+ oil cartel has said publicly what many thought privately — the group has been keeping oil prices too high, effectively subsidizing its rivals.

Investors are scrambling to decide if Donald Trump’s impending return to the White House will sustain or derail the rally in emerging-market bonds witnessed under Joe Biden.

US Treasuries fell on Monday as traders awaited a hefty week of economic data and speeches from Federal Reserve officials that will likely determine expectations for the central bank’s policy decision later this month.

The world’s biggest hedge funds made the most of trading opportunities sparked by Donald Trump’s reelection last month, keeping the industry on track to post its strongest returns in at least four years.

2024 is set to enter Wall Street’s hall of fame of bull years.

The money-market industry just reached a significant milestone with Crane Data reporting that these cash-like funds have amassed a record $7 trillion in assets. There are many ways to think about this development.

Saturday marks two years since OpenAI posted an oddly named widget called ChatGPT to the web. Its staffers placed bets on how many users it would accumulate, the highest estimate being 100,000. How wrong they were.

A group of one dozen US Bitcoin exchange-traded funds is on the cusp of a record monthly net inflow, bolstered by the digital asset’s historic surge toward $100,000 on President-elect Donald Trump’s embrace of crypto.

The boom in portfolio trading, where investors can buy or sell scores of corporate bonds with just a few clicks of a mouse, is fueling mega trades that were rare in credit markets just a few years ago.

On Monday, Warren Buffett announced that he was donating more than $1 billion in Berkshire Hathaway Inc. shares to four family foundations — a continuation of his commitment to give away the vast majority of his wealth to charity rather than pass it on to his family.

“Think of what we could do together” is a touching line at the denouement of Wicked: Part 1, the movie currently raking it in at the box office for Comcast Corp.’s Universal Pictures.

’Tis the season for a surge in financial frauds and scams, a huge and growing problem that caused nearly $500 billion in losses globally last year, along with untold human suffering.

We call them “Silicon Valley rivals,” but when you think about it, the big tech titans have mostly stayed in their respective lanes for the past 20 years.

Treasury Secretary Janet Yellen came under fire this year from economists such as Nouriel “Dr. Doom” Roubini for stepping up the issuance of short-term Treasury bills.

The dominance of US equities over the rest of the world is unlikely to abate unless geopolitical and trade policy risks fade, according to JPMorgan Chase & Co. strategists.

Credit investors squeezed by the tightest spreads in almost 20 years are opting for bare-bones strategies, creating a boom for Europe’s fixed-maturity funds.

The US economy expanded at a solid pace in the third quarter, largely powered by a broad-based advance in consumer spending as inflation continued to cool.

News broke this week that the US Department of Justice wants to force Alphabet Inc.’s Google to sell Chrome, its dominant web browser. That has led to much head scratching in the tech industry.

While space startup Rocket Lab USA Inc. prepares to test-launch its new medium-sized rocket next year, its shares have already blasted into orbit.

MicroStrategy Inc. bought a record $5.4 billion in Bitcoin, the third major purchase announced this month by the crypto hedge fund proxy.

High-tech manufacturing in China over the past year has often felt like watching a looking-glass parody of the US.

The US bond market is finally showing signs of steadying after a two-month selloff, with investors starting to swoop in whenever yields test new peaks.

The dollar fell and US government bonds rallied after Donald Trump picked Scott Bessent to run the Treasury, a Wall Street veteran who investors expect will take the sting out of the administration’s more aggressive trade and economic policy proposals.

Gold tumbled as traders digested Donald Trump’s pick of Scott Bessent as Treasury Secretary and looked toward the Federal Reserve’s next interest-rate decision.

Donald Trump’s presidency is set to bring a fresh bout of volatility to markets, supercharging an options boom driven by retail traders.

Amid a red-hot run in the shares of MicroStrategy Inc. last month, Matt Tuttle got some bad news from the prime brokers for his booming leveraged ETF linked to the shares of the crypto-centric company.

The world’s biggest private credit managers are turning to an obscure investment product to help raise billions from deep-pocketed insurance companies, testing the limits of industry safeguards meant to curb risk.

The second coming of Donald Trump is unquestionably bad news for Germany.

Charles Schwab Corp.’s incoming chief executive officer, Rick Wurster, said the firm is looking to offer spot cryptocurrency trading once US regulations make doing so easier — something that’s more likely once President-elect Donald Trump takes office.

Snowflake Inc. shares surged by the most in more than four years after the company issued a sales outlook that surpassed investors’ expectations, suggesting new products are attracting strong demand.

Most important advances in technology occur when someone combines a variety of innovations in different fields in a commercially successful way.

“Overheated” is how short-sellers Citron Research described MicroStrategy Inc. on Thursday.

Blackstone Inc.’s main private credit fund stormed the investment-grade bond market to raise a combined $1.5 billion in a single day, adding to the rush of direct lenders trying to lock in cheaper financing costs.

The post-election stock market is already giving investors a wild ride. Big individual stock selloffs, massive rallies, and a dizzying array of market narratives built on Wall Street’s best attempts to read President-elect Donald Trump’s mind.

Fidelity Investments is expanding its reach in the competitive world of systematic strategies for the masses, with the launch of five new active ETFs.

US banks enjoyed a sharp stock price jump on Donald Trump’s election victory; two weeks later, they’ve held onto those gains. There’s one good reason for this — and several poor ones, all to do with regulation.

Berkshire Hathaway Inc. reported its stock holdings last week — a widely anticipated quarterly update of Warren Buffett’s latest trades. There were some notable ones, including the addition of Domino’s Pizza Inc. to Berkshire’s portfolio and more trimming of its stake in Apple Inc.

Bitcoin approached the historic $100,000 level, fueled by optimism that President-elect Donald Trump’s support for crypto heralds a boom as the US pivots to friendly regulations in place of a crackdown.

Canada’s University Health Network said its Toronto Western Hospital would be the first non-US site of a trial for a device created by Neuralink Corp., Elon Musk’s brain-implant company.

Nvidia Corp. assured investors that its new product lineup can maintain the company’s artificial intelligence-fueled growth run, though the rush to get the chips out the door is proving more costly than expected.

Bitcoin climbed to a record high for a second consecutive day, with MicroStrategy Inc. accelerating the pace of its massive purchases of the cryptocurrency.

Nouriel Roubini is seizing on Donald Trump’s inflation-threatening policy agenda to make a case for an alternative haven trade to Treasuries in a world of elevated volatility.

In the months before Donald Trump entered the White House the first time around, speculation mounted that he would release mortgage giants Fannie Mae and Freddie Mac from the federal conservatorship they’d operated under since being bailed out during the global financial crisis.

The multi-trillion-dollar artificial intelligence boom was built on certainty that generative models would keep getting exponentially better. Spoiler alert: they aren’t.

Bitcoin set another all-time high, supported by a series of developments highlighting the deepening embrace of the digital-asset industry in the US under crypto cheerleader Donald Trump.

Most Americans, from both parties, say the government needs to increase the supply of affordable housing. For President-elect Donald Trump, that should offer a good opportunity to summon his instincts for development — and self-promotion — to get America building again. Call it the “Trump Building Boom.”

Nvidia Corp., the chipmaker at the center of a boom in artificial intelligence use, is teaming up with Alphabet Inc.’s Google to pursue another technology once relegated to science fiction: quantum computing.

Federal Reserve Chair Jerome Powell says he wants to wait and see what policies the incoming Trump administration will implement before the central bank forecasts what it means for the economy.

The era of explosive growth in multistrategy hedge funds is over, according to billionaire Ken Griffin, who runs one of the biggest such firms.

Alphabet Inc.’s Chrome browser could fetch as much as $20 billion if a judge agrees to a Justice Department proposal to sell the business, in what would be a historic crackdown on one of the world’s biggest tech companies.

Germany’s Carl Benz might have invented the automobile, but it’s the United States that got us to drive them.

The crypto party seems to be getting restarted. Bitcoin is surging and big players are celebrating amid expectations that President-elect Donald Trump will make the US, as he put it, “the crypto capital of the world.”

Last week’s selloff, which comes on the heels of what has been a generally successful earnings season for Corporate America, has investors bracing for one final test: a reading on the state of the consumer from a series of retail bellwethers who report in the coming days.

Morgan Stanley strategist Michael Wilson, well known for his bearish views on US equities in recent years, has an outright bullish outlook for 2025.

If Wall Street learned one thing during Donald Trump’s first term as president, it’s that the stock market is a way he keeps score. At various points he took credit for equities rallies, urged Americans to buy the dip, and even considered firing Federal Reserve Chairman Jerome Powell, who he blamed for a selloff.

Elon Musk is ramping up his feud with Sam Altman, alleging in a court filing that OpenAI is trying to corner the market for generative artificial intelligence and sacrificing safety in a race to get ahead.

Traders see an interest-rate cut next month as a coin toss as resilient economic data empowers Federal Reserve officials to take a potentially more-cautious approach to easing.

Gold traded near a two-month low, on course for its worst week since June 2021 as traders wind back expectations for a Federal Reserve interest-rate cut next month.

The highest Treasury yields in months — reached Friday after a batch of strong economic data cast additional doubt on whether the Federal Reserve will cut interest rates again next month — proved appealing to bond investors.

This isn’t the same China that greeted Donald Trump after his first win in 2016. The economy, once widely believed on a course to knock the US off its perch as the preeminent commercial power, has since revealed some acute vulnerabilities that don’t seem to be going away. And the president-elect seems to be gearing up for a trade war he no longer needs to fight.

Big Tech stocks have had a relatively muted reaction to Donald Trump’s election victory, as investors parse how his second term might play out. So far, many are reserving judgment.

Larry Fink turned to big deals to get BlackRock Inc. out in front of a decade of money gushing into index funds. Now he’s doing the same to make sure his firm isn’t left behind in the stampede into private assets.

Stanley Druckenmiller’s family office led investment firms for the world’s rich in boosting allocations to US bank shares last quarter, putting them in line to profit from a rally in financial stocks.

This year was already a landmark one for exchange-traded funds, but as of Friday the ETF universe can add another superlative: biggest annual inflows on record.

Given that he was just elected, Donald Trump’s plans for financial regulation are, like so much else, a mystery. Yet his campaign’s disdain for the administrative state — and the public’s growing exasperation with red tape — suggests the country is in for a period of bureaucratic humility. Here’s hoping the financial system doesn’t become vulnerable as a result.

President-elect Donald Trump pledged last month to eliminate “the Double Taxation of overseas Americans.” Never mind the clumsy wording — taxes on US citizens working abroad aren’t excessive so much as excessively complicated — this is one campaign promise that may actually be fulfilled, given the Republican control of both houses of Congress. That would be a good thing not only for those Americans but also for America.

US producer prices picked up in October, fueled in part by gains in portfolio management costs and other categories that feed into the Federal Reserve’s preferred inflation gauge.

Bitcoin spiked above $93,000 for a short period as expectations of further interest-rate reductions by the Federal Reserve added to the impetus from President-elect Donald Trump’s pro-crypto stance.

Private equity’s recent splurge of piling ever more debt onto already highly leveraged bets has sparked fears about financial-system risks. Banks, however, are positioning themselves to take advantage.

Treasuries held on to recent losses ahead of the US inflation report, with traders loading up on bets for further declines in anticipation that Donald Trump’s pledged policies will fan price increases and keep interest rates high.

A surge in Bitcoin that paused earlier Wednesday is regaining steam, sending the original cryptocurrency above $90,000 for the first time, as traders assess the remaining market impact of President-elect Donald Trump’s rhetorical support for crypto.

The price of Bitcoin has jumped by more than $20,000 since the Nov. 5 elections in the US, with about one-third of the gains coming with favorable early results for Republicans, and the rest trickling in as Donald Trump’s victory became certain and his party continued to pick up seats in the Senate and House of Representatives.

The US dollar’s rally is gaining momentum alongside Donald Trump’s threat of sweeping tariffs, leaving currency strategists in agreement it has further to rise while war-gaming just how far it will go.

Warren Buffett created Berkshire Hathaway Inc.’s Class B shares almost 30 years ago to stymie money managers who sought to split the high-priced conglomerate’s stock.

Investors are piling into US leveraged loan ETFs, betting that President-elect Donald Trump’s policies will potentially boost inflation and push the Federal Reserve to keep interest rates higher for longer.

The US Federal Reserve and its chair, Jerome Powell, are rightly choosing not to act on any assumptions about what Donald Trump might do as president. That said, if he follows through on his more extreme campaign promises, they’ll struggle to contain the economic consequences — a problem that equity investors ignore at their peril.

I think I finally understand value of cryptocurrencies: They add some volatility to your portfolio. Maybe that’s why they have found such a champion in Donald Trump, who if nothing else adds some volatility to our politics.

BlackRock Inc. is throwing its weight behind an early push to bring exchange-traded funds to money-market investors.

All year, a slew of Wall Street pros have questioned the durability of an indiscriminate risk rally that has fattened stock prices by trillions of dollars, sent Bitcoin soaring, fueled a credit bonanza, and more.

Bitcoin options traders buoyed by Donald Trump’s election victory are already eyeing a landmark price of $100,000 for the original cryptocurrency, after it surged to a fresh record on hopes for a more crypto-friendly administration.

Mike Wirth became the king of Big Oil on Oct. 7, 2020. That was the day the chief executive officer of Chevron Corp. elbowed out archival Exxon Mobil Corp. to become America’s largest oil corporation by market value. It was the zenith of a honeymoon between Wall Street and Wirth.

Donald Trump will inherit, to all appearances, a solid economy when he assumes the presidency in January. After all, the stock market is at record highs, unemployment is low by historical standards and gross domestic product has been expanding at a healthy pace of around 2.5% so far this year.

The bond-market selloff unleashed by Donald Trump’s presidential victory last week ended almost as quickly as it began.

Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.

Donald Trump’s return to the White House is already starting to tee up a deluge of bonuses in Wall Street’s corridors of power.

Oil fell after Chinese stimulus measures disappointed speculators, but not enough to jolt prices from the narrowest trading band since July.

US companies are plowing money into building data centers as they race to get ahead in artificial intelligence.

If you’re unfamiliar with synthetic risk transfers, there’s a chance you’ll hear all about them when the next financial crisis hits. They’re the latest way for big banks to game rules designed to safeguard the system, and they’re growing fast. So far, regulators seem all but oblivious.

A few months ago, travel companies were warning that the great post-pandemic boom in consumer travel was losing steam.

Stocks rose at the end of their best week in 2024 after solid consumer sentiment data and bets that newly elected President Donald Trump’s pro-growth agenda will keep fueling Corporate America.

The collapse of Germany’s deeply unloved and dysfunctional three-party coalition offers Europe’s biggest economy an opportunity for political and economic renewal. Two important questions arise: Will Germany put aside political squabbles and grab its golden opportunity.

Here’s something that would have seemed pretty much inconceivable two years ago: According to Zillow, home prices have now risen more in New York City and its environs since the beginning of 2020 than in metropolitan Austin, Texas.

Detroit voted overwhelmingly for Vice President Kamala Harris, but investors in “Detroit” backed President-elect Donald Trump. Shares in General Motors Co. and Ford Motor Co. jumped on news of Trump’s election win, with GM reaching a new high for the year and Ford up by almost 6% on Wednesday, more than double the S&P 500 Index’s gain.

Bentley Motors Ltd. is delaying a plan to offer only fully electric vehicles by 2030 as EV sales continue to disappoint projections across the industry.

Results from tech giants largely underwhelmed this earnings season — but they included plenty of good news for Nvidia Corp.

One of the memorable moments of Nvidia Corp.’s most recent conference for developers came toward the end of the chip giant’s semi-annual event.

Cerebrospinal fluid leaks, caused by tears or holes in the spinal cord, are rare and difficult to identify. Because the symptoms aren’t uncommon — including nausea, neck pain, ringing in the ears and debilitating positional headaches — patients can spend years without a proper diagnosis. Some have been told they have allergies.

The Federal Reserve is widely expected to lower its benchmark federal funds rate by a quarter of a percentage point on Thursday to a range of 4.5% to 4.75%. The big question is how much lower the Fed might go from there during this rate-cutting cycle. The bond market suggests it won’t be as low as some expect or as low as policymakers signaled less than two months back.

Commodities broadly declined on prospects that a stronger dollar and potential trade disputes under a Donald Trump presidency will weaken the appeal of raw materials in global markets.

At the height of summer, Europe had hoped that the coming winter would be its last difficult one to secure enough natural gas. By the middle of next year, liquefied natural gas was expected to turn into a buyer’s market, easing the squeeze the region has suffered since Russia invaded Ukraine. No longer.

The idea that money can’t buy you happiness is one of the world’s most persistent tropes. King Midas is granted his wish that everything he touches will turn to gold only to starve to death.

Credit risk fell in reaction to Donald Trump’s US presidential win, even though his presidency may be marred by tariffs and possible trade wars.

Palantir Technologies Inc.’s premium valuation will be put to the test when the data analysis and software company reports results after the market close on Monday.

Apple Inc. is exploring a push into smart glasses with an internal study of products currently on the market, setting the stage for the company to follow Meta Platforms Inc. into an increasingly popular category.

Treasuries fell as a strong report on services ahead of Thursday’s Federal Reserve interest-rate decision added to volatility around the US election.

US exchange-traded funds investing in Bitcoin recorded their highest daily net outflow to date as markets brace for Election Day.

The 2024 presidential campaign was marked by two assassination attempts, a candidate switch, divisive rhetoric and warnings about the fate of democracy. And that may have only been the beginning.

After driving Treasury yields higher for weeks, traders are taking chips off the table before the US election, reluctant to take bold bond bets with the presidential race too close to call.

The age of a typical homebuyer jumped to an all-time high of 56 in the US, with many young people locked out of the housing market while older owners tap their accumulated home equity for cash purchases or to make large down payments, according to a report.

Treasury yields fell sharply and the dollar weakened as investors pared bets on Republican Donald Trump prevailing in Tuesday’s US election.

Stocks struggled for direction, bonds rose and the dollar fell, with polls continuing to depict a tight race in the US presidential election ahead of the Federal Reserve decision.

Ryanair Holdings Plc cut its passenger growth target for next year because of delivery delays from aircraft supplier Boeing Co.

Intel Corp. and Samsung Electronics Co. have shed a total of $227 billion in market value this year on their lack of leadership in artificial intelligence.

Amazon.com Inc. reported strong results that showed a company humming on all cylinders, a testament to its efforts to cut and reallocate costs and put the cloud computing and e-commerce giant on sounder footing.

Three months ago, Wall Street punished the world’s largest technology firms for spending enormous amounts to develop artificial intelligence, only to deliver results that failed to justify the costs.

Investors who’ve been hedging against a deeper selloff in US Treasuries are preparing for volatility as Friday’s hurricane- and strike-tinged US employment report offers final clues ahead of next week’s Federal Reserve policy decision.

A middle-aged man who works in emergency services in the US had been battling depression and suicidal thoughts for 17 years, unable to sleep most nights and leaving his wife and teen daughter walking on eggshells because of his irritability, before he opted for a shot in the dark.

Builders are an important part of any plausible fix for the housing shortage in the United States — not only constructing more homes but also finding ways to improve affordability.

Apple Inc., heading into its most critical sales period of the year, sparked fresh concerns about revenue growth and lingering weakness in an intensely competitive China market.

Today, Apple is having to become a different type of company. Its two most important products are being developed very much in the full view of the public, and I would say before they have met the previous Apple standard. “It just works” is now “we’re working on it.”

It’s a good time to buy asset-backed securities tied to data centers, according to a October research note from DoubleLine Capital LP, as demand for digital infrastructure is booming and supply is constrained by energy requirements.

Meta Platforms Inc. CEO Mark Zuckerberg will ramp up heavy investments in AI and other futuristic technologies, continuing a years-long tug-of-war between the company’s long-term bets and the core advertising business that provides the vast majority of Meta’s revenue.

For the land of free markets and open competition, the US has surprisingly little choice when it comes to payments. Americans use cards for most of their purchases, and most of those transactions are handled by just two companies, Visa or Mastercard, which levy billions of dollars of fees on the merchants that rely on them.

The Federal Reserve’s preferred measure of underlying US inflation posted its biggest monthly gain since April, bolstering the case for a slower pace of interest-rate cuts following last month’s outsize reduction.

If Elon Musk sold plug-in hybrid vehicles, he surely wouldn’t call them plug-in hybrid vehicles, or PHEVs, or anything else that sounds coined by an engineer. Far too clunky. Surely “Cyborgtruck” would offer a more futuristic spin on these marriages of gasoline and batteries?

In a corner of the credit market that regulators last year characterized as a potential hot-bed of greenwashing, there are signs that bankers have been cracking down on corporate pitches.

Gold rose to a record on Wednesday on haven demand before the US election, and held a narrow gain after jobs and GDP data that showed the ongoing resilience of the US economy.

Google parent Alphabet Inc. is showing an expensive foray into artificial intelligence is starting to pay off, delivering better-than-expected sales for its cloud-computing business and driving more usage of its flagship search engine.

To understand the wave of bank partnerships with private-credit fund managers during the past year or so, think back to the boom in mortgage lending through securitization in the early 2000s. The same forces are at work: a huge demand for finance, limited and costly bank capital and investment bankers’ ingenuity and desire to generate business.

In corporate-speak, when a company says a key target is “currently” unchanged but it plans to disclose a “review” soon, you know trouble is coming. And indeed, there’s trouble ahead for BP Plc.

Alphabet Inc. shares have gone nowhere for months, trailing Magnificent Seven peers as investors struggle to price risks confronting the company. It’s a stretch to believe Tuesday’s results will blow away those concerns.

The titans of finance who congregated in Riyadh this week for Saudi Arabia’s annual Davos-style confab were mostly upbeat on the prospects for the US economy, but concerned about more sluggish growth in Europe.

If you’re unfamiliar with synthetic risk transfers, there’s a chance you’ll hear all about them when the next financial crisis hits. They’re the latest way for big banks to game rules designed to safeguard the system, and they’re growing fast. So far, regulators seem all but oblivious.

The US presidential election Nov. 5 is shaping up to be the mother of event risks so you’d think the safest of all havens would be holding up. But it’s not — and that’s only one of the notable anomalies springing up in financial markets. Yields on 10-year US Treasuries have risen nearly 70 basis points since the Federal Reserve's punchy half-point initial rate cut on Sept. 17.

Apple Inc.’s iPhone exports from India jumped by a third in the six months through September, underscoring its push to expand manufacturing in the country and reduce dependence on China.

Wall Street veteran Ed Yardeni says the approaching US election could augur the return of the market’s bond vigilantes as the Treasury Department readies new debt issuance plans.

Bitcoin traders are targeting the $70,000 price level last reached in June once again after cryptocurrencies briefly dipped across the board late Friday and US exchange-traded funds continued to see steady inflows.

Apple Inc., heralding a “new era” for its devices, started rolling out its first set of Apple Intelligence features and introduced a new 24-inch iMac desktop with a faster, AI-focused M4 processor.

Although Americans say they don’t like paying the current level of prices for goods and services that resulted from the worst bout of inflation in 40 years, they can take comfort from the fact that those prices, while admittedly not coming down in most cases, are actually becoming more affordable.

A true win-win-win situation doesn’t come along often. One could be brewing with a Boeing Co. decision to look at a potential sale — or perhaps more realistically a spinoff — of its space business.

Big energy companies are making the case that skyrocketing electricity demand from data centers — and the need to build more power sources to meet it — will end up being good for the climate.

Been with the same employer for 10 years or more? That doesn’t exactly make you a rarity in the US, where 30.2% of employed wage and salary workers were in that situation as of January 2024, according to data released last month by the Bureau of Labor Statistics. And while this percentage is down from a decade ago, it’s close to where things stood for the much of the 1980s, 1990s and 2000s.

At his party’s inaugural investment summit last week, UK Prime Minister Keir Starmer positioned himself as a champion for artificial intelligence. Appearing alongside former Google Chief Executive Officer Eric Schmidt, Starmer called AI an “opportunity,” rather than something to be scared of, and said his country “needs to run towards” it.

Even with inflation well and truly on the way down after the most aggressive interest-rate tightening in a generation, central banks are averse to declarations of victory. That the pace of price increases has been reined in without a major economic downturn is an accomplishment that warrants some trumpeting.

When Warren Buffett calls a book on investing “by far the best book about investing ever written,” it is common sense to concede the point.

Equity investors face a bewildering sequence of tough-to-predict outcomes and confusing market signals. Patience and a steady hand look like valuable attributes in navigating through the noise.

To those who argue that value investing has gotten too hard in today’s momentum-chasing, passive-driven world, Scott McBride’s results are a bit of a conundrum.

Economists nudged up quarterly US economic growth projections through early next year on more sanguine views of consumer demand and maintained views that limited inflation will keep the Federal Reserve on a path toward lower borrowing costs.

One of the only things growing faster than progress in AI applications is speculation about AI’s effect on the economy. I don’t have all the answers, not by a long shot, but I do think we should expect great unevenness in adaptation, and that itself will alter our world.

Asset managers in Europe and the US have spent 2024 winding down hundreds of ESG funds, as the investment strategy continues to bump up against regulatory headwinds.

As Steward Health Care Systems LLC’s network of hospitals was struggling, it stopped paying some of its vendors. One of those vendors was a supplier of bereavement boxes, the tiny cases used to transport the remains of newborns who don’t survive.

Imagine if humanity decides it doesn’t have enough amusement parks. All the world’s nations announce they will be financing new ones across the planet. Bankers stand next to models of future parks and hand comically large loan checks to the developers. It’s not nearly enough to end the global amusement-park crisis, but they still win accolades and shareholder approval for doing their part.

The sharp selloff in Treasuries abated on Thursday, with US bonds rallying alongside European peers, after three straight days of declines.

Tesla Inc.’s shares surged after the carmaker reported surprisingly strong earnings and forecast as much as 30% growth in vehicle sales next year.

Last year, James Gorman told the In Good Company podcast that now that he had stepped down as CEO of Morgan Stanley, he wanted a board role that was more than an easy paycheck. "I want something that is complicated. I like solving problems,” he said.

It’s inevitable that the market dynamics that have delivered cheaper airfares, used cars and rents in the past year will eventually turn around. One high-profile reminder came from United Airlines’ earnings last week.

US sales of previously owned homes declined to an almost 14-year low in September as prospective buyers waited for a further decline in mortgage rates and more attractive asking prices.

Treasury yields climbed for the third straight day amid growing expectations that the Federal Reserve will lower interest rates at a gradual pace and as traders fretted about the potential inflationary implications of the US presidential election.

Vanguard Group Inc. sees more opportunities in the lowest rung of investment-grade bonds, even as spreads for triple-B notes reached their tightest since 1998 last week.

The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies.

Bonds extended losses as investors mulled the prospect of slower US interest-rate cuts, a trend that risks upending debt positions everywhere.

Big Tech is going nuclear in its pursuit of artificial intelligence. Power-hungry datacenters are just one part of a broader freak-out over how the US grid will handle even bigger loads including electric vehicles and re-shored factories, plus withstand extreme weather, all while decarbonizing at a reasonable cost.

Ironically, China’s President Xi Jinping has been cornered into the same uncomfortable spot reserved for high-profile chief executives like JPMorgan Chase & Co.’s Jamie Dimon: Impatient stock investors are brushing aside the intricacies of running complex businesses and demanding simplistic numbers to justify their euphoria.

US stocks are unlikely to sustain their above-average performance of the past decade as investors turn to other assets including bonds for better returns, Goldman Sachs Group Inc. strategists said.

Price action in some of the world’s most risk-sensitive assets is signaling concern that the Federal Reserve’s decision to begin lowering interest rates may have been premature — or unsustainable.

Investors laser-focused on the risks looming in the next few weeks may be left unprepared if their worst fears don’t come to pass.

Benchmark Treasury yields may soon hit a key level on the back of rising inflation expectations and concerns over US fiscal spending, according to T. Rowe Price.

In what should be one of the least surprising developments, global electricity demand is soaring everywhere as the world moves to electrify everything. Out go gasoline cars, in come electric vehicles; out go gas boilers, in come heat pumps; and so on and so forth. That’s the energy transition.

A dark cloud will be hanging over Boeing Co. when it releases its third-quarter earnings report Wednesday morning and Chief Executive Officer Kelly Ortberg, who has only been in the job since August, presides over his first quarterly conference call with analysts for the storied planemaker.

Netflix Inc. added more than 5 million customers in the third quarter and eclipsed Wall Street’s expectations on every major financial metric despite a new programming slate constrained by last year’s strikes in Hollywood.

Sales of Apple Inc.’s newest iPhones in China are up 20% in their first three weeks compared with 2023’s model, a positive sign for a device that struggled this year to gain traction in the world’s largest smartphone market.

Around 110 million years ago, a dinosaur went hunting. Stalking through ferns along a riverbank, he twitched his nose to the wind and caught scent of a plant-eater ahead. His head darted upward. His eyes locked on the target. The dinosaur drew his sickle claws upward, ready to make a lethal strike. But something wasn’t right.

In China’s resurgent stock market, there’s a lesson for investors about the perils of market timing.

Navigating space is hard. It’s expensive, complex, time-consuming and dangerous. And yet you have to hand it to Elon Musk: His SpaceX firm makes it look easy.

We’ve had several weeks of strong data since the Federal Reserve cut policy rates by a half percentage point. It started with a surprisingly robust jobs report, followed by a janky and above-expectations inflation report.