U.Today – , the biggest cryptocurrency by market cap, has recently achieved a historic milestone, surpassing the $82,000 mark for the first time. This remarkable gain has garnered reactions across the board, including from well-known cryptocurrency critic Peter Schiff. In his characteristic manner, Schiff expressed his skepticism about Bitcoin’s surge, claiming that it had little to do with its fundamentals. In his tweet, Schiff stated that Bitcoin’s rise “has nothing to do with its supposed fundamentals.” Schiff questioned Bitcoin’s recent price movement as the U.S. dollar is rising while gold falls. According to Schiff, the recent gain is unrelated to…
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A version of this article first appeared in CNBC’s Money 101 newsletter with Sharon Epperson, an eight-week series to improve your financial wellness with monthly updates. Sign up to receive these editions, straight to your inbox. Stocks soared in the days after President-elect Donald Trump won the 2024 election, and the Federal Reserve announced another interest rate cut less than two days later.The Dow Jones Industrial Average, S&P 500 and Nasdaq markets reached record highs and their best week in a year. Yet, Wall Street’s reaction to the election outcome does not reflect how many Americans feel about the state of their…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market rotation: The Dow was the big winner Monday, tracking for its first close above 44,000. However, the pressure on the S & P 500 and the Nasdaq reveals a big, postelection rotation happening underneath the surface as megacap tech names like Club names Apple , Amazon , Nvidia , Microsoft , and Meta Platforms were a source of funds to buy groups that are perceived to be bigger beneficiaries of…
By James Mackenzie and Riham Alkousaa JERUSALEM/BEIRUT (Reuters) -Israel said on Monday (NASDAQ:) there was progress in talks about a Lebanon ceasefire and indicated Russia could play a part by stopping Hezbollah rearming via Syria, although the Iran-backed group said it had not received any new truce proposals. Pummeled by Israel’s offensive, Hezbollah said political contacts were under way involving its backers in Tehran, Washington and Moscow, whilst also saying it had enough weapons for a “long war” and keeping up rocket fire into Israel. In Jerusalem, Israeli Foreign Minister Gideon Saar said the war against Hezbollah was not yet…
United States Senator Cynthia Lummis expressed support for President-elect Donald Trump’s proposal for a Bitcoin reserve after Trump won the 2024 US presidential elections on Nov. 5. Lummis, a Wyoming Republican and strong crypto advocate, highlighted her intention to pursue the legislation in the Senate, suggesting that the US acquire 1 million BTC — about 5% of its supply — and hold it for at least 20 years. This initiative builds on Trump’s idea that the government should hold, rather than liquidate, its seized Bitcoin assets. The proposal comes as Republicans prepare for Senate majority control.Continue readingCalifornia revokes BlockFi’s license amid bankruptcy…
Many advocates worry about the fate of federal funding for sustainable transportation in light of Tuesday’s federal election results, but voters across America approved a stunning $24.9 billion for transit improvements across 18 separate ballot measures.In the end, it was a banner year in which 46 out of 53 initiatives passed overall — a nearly 87 percent win rate that sends a strong message that the American people want more choices about how they get around even if they didn’t always vote for transit-friendly politicians elsewhere on the ballot, advocates said.”No matter if you live in a red state, a…
US climate envoy John Podesta has called on governments to believe in the United States’ clean energy economy, saying President-elect Donald Trump can slow but not stop its climate change pledges. On Monday, during the first day of the United Nations Climate Change Conference, COP29, in Baku, Azerbaijan, Podesta told the summit that Trump’s electoral victory last week was “obviously bitterly disappointing”. “But what I want to tell you today is that while the United States federal government, under Donald Trump, may put climate action on the back burner, the work to contain climate change is going to continue in…
Stellantis, the automotive giant, has made significant strides in addressing its inventory surplus, particularly in the United States. While the broader automotive industry faced a surge in inventory levels in September, several Stellantis brands bucked the trend, demonstrating a proactive approach to inventory management. Jeep, Ram, and Dodge, in particular, saw noteworthy reductions in their inventory levels. This achievement is especially impressive considering the industry wide increase in stockpiles. By successfully trimming its excess inventory, Stellantis has positioned itself to better go through the evolving market dynamics and capitalize on emerging opportunities. This strategic move not only enhances the company’s…
Diplomats have greenlit key rules that govern the trade of “carbon credits”, breaking a years-long deadlock and paving the way for rich countries to pay for cheap climate action abroad while delaying expensive emission cuts at home.The agreement, reached late on the first day of Cop29 in Azerbaijan, was hailed by the hosts as an early win at climate talks that have been snubbed by prominent world leaders and clouded by the threat of a US retreat from climate diplomacy after Donald Trump’s victory in the presidential election.But critics have warned the rules were rushed through without following proper process.“We…
Image source: Getty Images One of my key investment objectives is to enjoy a large and sustainable second income. Of course I’m not alone in my quest. Sourcing a passive income with little or no effort is the Holy Grail of investing. And I think building a portfolio of shares, funds, and trusts is the best way to try and achieve this. If my investments work out, I can sit back and watch the cash flow in once I’ve selected what to buy. I’d have to keep an eye on my portfolio and reinvest any dividends I receive, at the…