Dow Jones Futures: Amazon, Circle, Palantir, Tesla Rally Ahead Of Key Inflation Reports
Dow Jones Futures: Amazon stock hit a new buy point, while Circle, Palantir and Tesla rallied ahead of key inflation reports later this week.
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The Hill
2 hours ago
- The Hill
Trump's ‘big, beautiful' deadline slips
The Big Story President Trump's July 4 deadline for signing the bill is slipping away as GOP senators battle one another over spending cuts and other issues in the House-passed bill. © Greg Nash But Thune wants to get the legislation back on track by convening small working groups to hash out key components of the bill, according to Republicans familiar with his plan. Thune is hoping to build enough momentum in the Senate's various committees that the components of the bill come together in a grand compromise by the end of the month. But rank-and-file senators who have some of the strongest objections to the legislation have yet to see key pieces of text. And Elon Musk's scathing criticism of the bill as a 'mountain of disgusting pork' is creating political headwinds for the legislation. 'Thune's going to do the same thing he did for other things where folks have deeper issues: He'll put small groups together. No one is going to be able to say they weren't listened to,' the GOP senator said. Read more here. Welcome to The Hill's Business & Economy newsletter, I'm Sylvan Lane — covering the intersection of Wall Street and Pennsylvania Avenue. Did someone forward you this newsletter? Subscribe here. Essential Reads Key business and economic news with implications this week and beyond: Amazon to invest $20 billion in Pennsylvania data centers Amazon plans to invest at least $20 billion to build out two data centers in Pennsylvania, the e-commerce and cloud computing giant announced Monday alongside Keystone State leaders. Trump touts investments for newborns in reconciliation bill President Trump hosted a roundtable event to tout an initiative in Republicans' massive reconciliation package that would provide $1,000 for newborn babies to be put into an investment account. Waymo halts service in LA after robotaxis set ablaze Waymo has halted its robotaxi service in Los Angeles after multiple self-driving cars were set ablaze as protests over federal immigration raids unfolded in the city. Tax Watch British ambassador to US pans 'revenge tax' British Ambassador to the U.S. Peter Mandelson is appealing to Congress to think again about the proposed new retaliatory tax on certain foreign investment in the U.S. 'I think that there's something wrong in principle that you should punish a country's businesses and individuals in America because you don't like what their governments are doing at home,' Mandelson said of Section 899 of the House's 'big, beautiful bill' to implement Trump's agenda. Section 899 would create a retaliatory tax on nationals of countries that impose 'unfair foreign taxes' on American businesses. 'If you've got an argument with their governments, then take it out on the governments. Don't take it out on the businesses and the individuals,' he added. Mandelson also believes this new foreign investor tax is 'counterproductive' for the United States. — Sarakshi Rai Tax Watch is a regular feature focused on the fight over tax reform and extending the 2017 Trump tax cuts this year. Email a tip The Ticker Upcoming news themes and events we're watching: In Other News Branch out with more stories from the day: Apple unveils software redesign while reeling from AI missteps, tech upheaval and Trump's trade war CUPERTINO, Calif. (AP) — After stumbling out of the starting gate in Big Tech's pivotal race to capitalize … Good to Know Business and economic news we've flagged from other outlets: What Others are Reading Top stories on The Hill right now: Mark Green to resign from House after final vote on 'big, beautiful bill' Rep. Mark Green (R-Tenn.) on Monday said he plans to resign from Congress after the House holds a final vote on the party's 'big, beautiful bill,' giving up his seat as well as his leadership post on the House Homeland Security Committee. Read more Pam Bondi's brother crushed in DC Bar Association election Brad Bondi, the brother of Attorney General Pam Bondi, overwhelmingly lost his bid to lead the D.C. Bar Association in a race with record turnout, the organization announced Monday. Read more What People Think Opinions related to business and economic issues submitted to The Hill: You're all caught up. See you tomorrow!
Yahoo
2 hours ago
- Yahoo
Amazon announces $20 billion AI investment that will bring at least 1,250 jobs to Pa.
Governor Josh Shapiro today announced that Amazon is planning to invest at least $20 billion to establish multiple high-tech cloud computing and artificial intelligence (AI) innovation campuses across the Commonwealth of Pennsylvania. (Commonwealth Media Services) Elected leaders on both sides of the aisle gathered in northeast Pennsylvania on Monday to mark what they describe as a historic investment into the Keystone State. Gov. Josh Shapiro announced that Amazon Web Services is investing at least $20 billion to build two artificial intelligence (AI) innovation campuses, creating at least 1,250 jobs in the state. The governor called it the largest private sector investment in the history of Pennsylvania. One campus will be located in northeast Pennsylvania's Salem Township, Luzerne County, alongside the Susquehanna Steam Electric Station. Amazon announced in March that it had purchased a 1,200 acre site adjacent to the nuclear power plant from Houston-based Talen Energy. The company expects to build out the site with data centers that would consume as much energy as 900,000 homes and require millions of gallons of cooling water each day. The other campus will be in the suburbs north of Philadelphia at the Keystone Trade Center, a site in Falls Township, Bucks County. It used to be home to a U.S. steel mill and is still partly used by USX. Several other communities across the commonwealth are under consideration for future campuses, as well, officials said on Monday. 'We stand to gain so much here in Pennsylvania with this historic investment from Amazon,' Shapiro said. 'And our country stands to gain much as well, because America's national security will once again be strengthened by the hands of Pennsylvania workers.' Shapiro said the initial $20 billion investment is 'already three times larger than the largest state supported project' in the history of Pennsylvania. SUPPORT: YOU MAKE OUR WORK POSSIBLE Berwick, a former coal mining community in Columbia County where the press conference was held, is close to the northeast Pennsylvania data center site. Lt. Gov. Austin Davis said it reminded him of the area where he grew up in southwestern Pennsylvania that was impacted by the collapse of the steel industry. Davis said similar investments can help areas across the commonwealth adapt to the future. U.S. Sen. Dave McCormick (R-Pa.), lives in western Pennsylvania, but is originally from nearby Bloomsburg. He was also on hand to tout Amazon's investment. 'When I graduated from Bloomsburg High School in 1983, 42 years ago, I would have never imagined standing here in Berwick as part of a program that announces $20 billion of investment in Salem Township (and) Bucks County,' McCormick said. Kevin Miller, Amazon Web Services vice president of global data centers, said these facilities are 'going to serve as the backbone' for America's AI infrastructure. 'Our choice of Pennsylvania for this investment is not accidental. It's a combination of the skilled workforce, the strong infrastructure, as well as the commitment to clean energy and energy from multiple sources that really align well with Amazon's needs, building the future of AI and cloud computing,' Miller said. 'We see in Pennsylvania a partner that shares our vision for sustainable, community centered growth.' This will be a multi-year process for these projects, Miller said, and described the partnership as 'creating a blueprint for how government and industry can partner to drive innovation while creating opportunity for many, many families.' Shapiro highlighted Pennsylvania's energy resources, noting the state is the second largest energy producer in the country. He also said the commonwealth has a track record on innovation. 'We can produce enough power to support the energy intensive supercomputers and server farms at Amazon's data centers, affordable energy to this (Jackson mansion where the press conference was held), while still delivering reliable affordable energy to our small businesses that line our main streets, to our families and right into their living rooms,' Shapiro said. He went on to describe himself as an 'all of the above energy' governor. He also said state government is 'already all in on AI.' In September 2023, Shapiro signed an executive order to create an AI governing board for Pennsylvania with the intention of guiding the commonwealth's use of generative artificial intelligence, including developing training programs for state employees. In March, Shapiro provided an update on that program and said 85% of the 175 commonwealth employees from 14 different agencies who used AI for their jobs reported that they had a positive experience. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX McCormick and other lawmakers described it as a joint effort between multiple levels of government and parties to bring the investment to the state. 'We have all the ingredients for Pennsylvania's rebirth, all the ingredients to put Pennsylvania at the very top,' McCormick said. Labor leaders in attendance celebrated the 'thousands' of jobs this project will create for the construction industry. Although Pennsylvania's workforce was at the forefront of the discussion on Monday, Shapiro also said these jobs also show that the state can lead on national security issues. 'Right now, there is a battle for supremacy when it comes to AI, a battle that will be won by either the United States or China,' Shapiro said. 'I'm comforted by the fact that, thanks to Amazon, the future of AI is going to run right here through the Commonwealth of Pennsylvania, because I think those technologies should be developed by the hands of a Pennsylvania worker…not in communist China.'
Yahoo
3 hours ago
- Yahoo
Issuers File for ETFs Tracking Newly Debuted Circle Stock
Circle Internet Group Inc. (CRCL) may have just made its debut as a public company last week, but that hasn't stopped fund providers from looking to launch exchange-traded funds based on its stock performance. On Friday, Bitwise submitted a preliminary prospectus to the Securities and Exchange Commission of the Bitwise CRCL Option Income Strategy ETF, an actively-managed ETF that tracks the share price of Circle using a covered call strategy. On the same day, ProShares submitted a filing for the ProShares Ultra CRCL ETF, a 2x leveraged fund also tracking CRCL. The management fees and tickers weren't shared in either filing. The effective dates would be August 20, 2025. Bitwise declined to comment to as it's in a quiet period. ProShares and Circle did not respond to requests for commentary. Founded in 2013, peer-to-peer payments company Circle is the issuer of USDC, the second-largest stablecoin. It's one of the few pure-play crypto companies listed on the U.S. stock market. Circle's shares were priced at $31 Wednesday and opened at $69 on the New York Stock Exchange amid investor demand. Funds like the Bitwise CRCL Option Income Strategy ETF and ProShares Ultra CRCL ETF are aimed at very short-term speculative investors, and should be avoided by most other investors, said Daniel Sotiroff, senior manager research analyst for Morningstar Research. Leveraged ETFs, he explained, tend to succumb to volatility drag and perform poorly over the long run. 'It always goes wrong,' Sotiroff added. 'I've never seen those things work.' When it comes to covered calls, they're typically a play on yield: The more volatile the underlying asset is, the higher the premiums are that you're going to be able to write, he said. 'There's a lot of this stuff out there, and it fits into the same mold of stuff that investors should ignore—and they'll be better off for it,' said Sotiroff, who recently analyzed the 4,000 ETFs that traded on U.S. exchanges at the end of March 2025 and found that only 461 of them might be considered good, long-term | © Copyright 2025 All rights reserved Sign in to access your portfolio
