Latest news with #VirtuesofCreativeDestruction
Yahoo
03-03-2025
- Business
- Yahoo
Nvidia Decline to a Five-Month Low Is Day's Biggest Options Bet
(Bloomberg) -- Worries about the growth outlook for Nvidia Corp., the chipmaker at the center of the AI spending boom, pushed shares to a three-week low on Thursday. And someone just wagered that a deeper slide is in store. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC's Congestion Pricing Pulls In $48.6 Million in First Month NYC Office Buildings See Resurgence as Investors Pile Into Bonds Between 2 p.m. and 2:40 p.m., a trader bought more than 300,000 contracts wagering that Nvidia's shares would drop to $115 by March 7 — a move that implies a 12% decline from Wednesday's close. The last time shares traded at this level was in mid-September. It was the most-active options contract on US exchanges Thursday. The bearish trade came a day after the chipmaker delivered good-but-not-great quarterly numbers, disappointing investors accustomed to blowout results. The bearish wager most likely exacerbated Thursday's weakness in the stock, resulting in the worst session in a month. The stock dropped about 3% since the buying of the contract began in the afternoon, and implied volatility on the option rose by 8 points, according to Chris Murphy, co-head of derivatives strategy at Susquehanna International Group. 'This put buyer captures the State of the Union and NFP for next week,' said Murphy, referring to monthly jobs data due next week and a scheduled speech by President Donald Trump. The bearish wager pushed Nvidia's put volume to more than two times its average reading in the past 20 days, data compiled by Bloomberg show. Blocks of as much as 2,900 contracts changed hands. A further wave of trading was seen in the last 30 minutes of the session, adding another 100,000 lots to the overall volume. To Murphy, that could indicate profit-taking by the same investor who bought puts earlier in the day. Trump's SALT Tax Promise Hinges on an Obscure Loophole Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Walmart Wants to Be Something for Everyone in a Divided America China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
28-02-2025
- Business
- Yahoo
IMF Sees India's Economic Risks Rising Amid Global Uncertainty
(Bloomberg) -- India's world-beating economic growth faces headwinds from geoeconomic fragmentation and slower domestic demand, and it should implement crucial structural reforms to realize its ambition of becoming a developed country, according to the International Monetary Fund. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC's Congestion Pricing Pulls In $48.6 Million in First Month New York's Congestion Pricing Plan Faces Another Legal Showdown Intensification of regional conflicts, volatile commodity prices, weakened international cooperation and cyberthreats pose high risk to India's growth, the IMF said in its Article IV country report released Thursday. The Washington-based lender expects India's gross domestic product to expand 6.5% for the current financial year as well as the next one, and said risks to the economic outlook are 'tilted to the downside.' On the domestic front, recovery in private consumption and investment could be weaker than anticipated if real incomes do not rebound, the report said. Weather shocks could also adversely impact agricultural output, lifting food prices and weighing on the recovery in rural consumption, it added. To reach its full potential, the IMF said India should accelerate implementation of structural reforms, diversify and secure supply of critical commodities and 'avoid introducing further trade restrictions.' The Indian government expects the country to grow at 6.4% for the current year and between 6.3%-6.8% for the next fiscal. While the lender commended the Reserve Bank of India's 'well-calibrated monetary policy,' it said that opportunities could arise to gradually lower the policy rate further. Earlier this month, the central bank had cut interest rates for the first time since 2020. Monetary policy should remain 'data-dependent and well communicated,' the IMF said. The report called for greater exchange rate flexibility to help absorb external shocks, with intervention limited to addressing disorderly market conditions. Greater exchange rate flexibility would reduce the need for holding costly precautionary forex reserves and promote market development, it said. Trump's SALT Tax Promise Hinges on an Obscure Loophole Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Walmart Wants to Be Something for Everyone in a Divided America China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P.
Yahoo
28-02-2025
- Business
- Yahoo
‘Trump put' looms as S&P 500 reverses election rally, BofA says
(Bloomberg) — A reversal of the S&P 500's (^GSPC) post-election rally would spark investor expectations for intervention by President Donald Trump to support the market, according to Bank of America Corp. strategists. Cuts to Section 8 Housing Assistance Loom Amid HUD Uncertainty The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC's Congestion Pricing Pulls In $48.6 Million in First Month NYC Office Buildings See Resurgence as Investors Pile Into Bonds The benchmark has slipped almost 3% this month, in part on worries that Trump's proposed tariffs would fuel a global trade war. It's now just about 1% from its closing level of 5,783 points on Nov. 5, the day of the Presidential election. About half of S&P 500 members are now down since election day, according to data compiled by Bloomberg. Listen to the Here's Why podcast on Apple, Spotify or anywhere you listen. The Nov. 5 closing level is the 'first strike price of a Trump put, below which investors currently long risk would very much expect and need some verbal support for markets from policymakers,' BofA's Michael Hartnett wrote in a note. The most likely policy response to a further retreat in stocks, bond yields and the dollar due to slowing US growth would be interest rate cuts from the Federal Reserve, followed by an accord with Saudi Arabia to reduce oil prices. The strategist also sees the possibility of faster US tax cuts or raising of the debt ceiling. The most bullish outcome for risk assets would be if the 'US starts making noises' about a potential trade deal with China, Hartnett said. Among the least-likely scenarios is Trump responding with more tariffs, he added. The strategist had said earlier this week that the stock market was Trump's 'traffic light, it'll tell him to go and stop.' He reiterated in the note that investors seem 'suspicious' of the S&P 500's trajectory after the benchmark had trailed global peers this year. —With assistance from Michael Msika. Trump's SALT Tax Promise Hinges on an Obscure Loophole Warner Bros. Movie Heads Are Burning Cash, and Their Boss Is Losing Patience Walmart Wants to Be Something for Everyone in a Divided America China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction OXO Fought Back Against the Black Spatula Panic. People Defected Anyway ©2025 Bloomberg L.P. Sign in to access your portfolio
Yahoo
26-02-2025
- Business
- Yahoo
Former Trump Adviser Calls on Revising NASA's Moon Program
(Bloomberg) -- A former space policy adviser during President Donald Trump's first administration called on NASA to revise its plans for sending humans back to the moon, suggesting the agency 'off-ramp' its reliance on Boeing Co.'s giant moon rocket. NYC's Congestion Pricing Pulls In $48.6 Million in First Month The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC to Shut Migrant Center in Former Hotel as Crisis Eases New York's Congestion Pricing Plan Faces Another Legal Showdown Scott Pace, the former executive secretary of the National Space Council during Trump's first term, said it is time that NASA start considering alternative commercial rockets to the Boeing-built Space Launch System that can send people to the vicinity of the moon and Mars. 'A primary concern is Space Launch System, which is expensive and not reusable,' Pace said during a US House of Representatives subcommittee hearing about NASA's moon plans. 'It's had one flight but has trouble meeting the congressional target of two cores per year.' The recommendation marks a dramatic shift for Pace, who has long been a supporter of SLS. Though Pace is not directly involved with the second Trump administration, his comments represent some insight into what the incoming NASA leadership might propose for the agency's plans. President Trump and his close adviser, SpaceX chief executive officer Elon Musk, have made repeated comments about sending humans to Mars, heightening speculation that the administration might rework NASA's Artemis program, which aims to send humans back to the moon. Questions have also swirled about the future of NASA's SLS rocket, which is the primary rocket tapped to send humans to the vicinity of the moon for Artemis. The rocket has received significant criticism for its delayed development and costly price tag, which is expected to be nearly $24 billion through 2025. So far, SLS has only flown once without people on board, and is only expected to fly once every one to two years. Boeing, NASA's main contractor on SLS, recently signaled concern for the future of the rocket by announcing layoffs on the program. However, Boeing reduced the amount of jobs it planned to shed after having 'daily' talks with NASA. Pace called on making changes to the current Artemis plan to make it more consistent and sustainable. 'A revised Artemis campaign plan should be a high priority for the new administrator,' Pace said. 'There may be some painful adjustments with industry and our international partners, but it's better to do so now than to continue on an unsustainable and unaffordable path.' Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Meet Seven of America's Top Personal Finance Influencers China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction Why Private Equity Is Eyeing Your Nest Egg ©2025 Bloomberg L.P.
Yahoo
26-02-2025
- Business
- Yahoo
Romanian Far-Right Candidate Charged in Election Probe
(Bloomberg) -- Romania's far-right presidential candidate Calin Georgescu was charged in an investigation into his electoral campaign as tensions mount over whether his bid to become head of state will move forward. NYC's Congestion Pricing Pulls In $48.6 Million in First Month The Trump Administration Takes Aim at Transportation Research Shelters Await Billions in Federal Money for Homelessness Providers NYC to Shut Migrant Center in Former Hotel as Crisis Eases New York's Congestion Pricing Plan Faces Another Legal Showdown Georgescu, who polls show is a frontrunner ahead of a repeat election scheduled for May, faces six charges, including membership of a far-right and racist organization and providing a false statement about campaign financing, prosecutors said in a statement on Wednesday. The charges won't bar Georgescu from running until a final court decision has been made — a process that could take years. But the latest turn could deepen Romania's political turmoil, bolstering anti-establishment sentiment which is feeding a far-right surge. Georgescu's first-round victory last year triggered suspicions of foreign meddling into his campaign, for which the fringe independent, who has praised Russian President Vladimir Putin, then declared no funding. Romania's top court annulled the ballot and ordered a rerun, a move which has drawn international scrutiny of the Black Sea country. US officials have privately urged Romanian counterparts not to bar Georgescu from running, Bloomberg News reported, following Vice President JD Vance's criticism of the court decision during his speech this month at the Munich Security Conference. Billionaire Elon Musk, a key ally of US President Donald Trump, condemned the investigation into Georgescu as 'messed up' in a post on his X social media platform on Wednesday. Romania's local-currency bonds led gains in the region after the charges were announced. The yield on leu notes due in April 2035 fell 18bps to 7.36%, the lowest since mid-December. --With assistance from Andras Gergely. (Updates with context on Romania's political crisis, market reaction throughout.) Trump's SALT Tax Promise Hinges on an Obscure Loophole Walmart Wants to Be Something for Everyone in a Divided America Meet Seven of America's Top Personal Finance Influencers China Learned to Embrace What the US Forgot: The Virtues of Creative Destruction Why Private Equity Is Eyeing Your Nest Egg ©2025 Bloomberg L.P.
