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(Justin Vaughn, Editor, Options Trading Report) The Dow Jones Industrial Average gave up nearly 700 points Friday, while the S&P 500 saw its 2025 gain evaporate, down 1.5%. The Nasdaq was off an alarming 1.6%. The market was closed Thursday in honor of the passing of President Jimmy Carter. The 10-year Treasury yield hit its highest point since 2023 touching a 14 month peak and finishing at 4.784%. Even the 30-year crested 5%, closing at … Read more…
By Dawn Chmielewski (Reuters) – Businessman Frank McCourt is “open-minded” to keeping TikTok’s existing investors, including the founder, involved after any deal to buy the U.S. operations of the Chinese-owned short-form video app, the U.S. billionaire told Reuters on Thursday. McCourt said in an interview his consortium has made a formal offer to buy TikTok from its Chinese parent company ByteDance, confirming reports that it values the app without its algorithm at around $20 billion. … Read more…
By David Lawder WASHINGTON (Reuters) – President-elect Donald Trump’s pick for Treasury secretary, hedge fund manager Scott Bessent, vowed to maintain the dollar’s status as the world’s reserve currency as he prepared to face questions from U.S. senators on Thursday on how he will implement Trump’s tax cut, tariff and deregulation plans. Bessent’s testimony at a Senate Finance Committee confirmation hearing at 10:30 a.m. EST (1530 GMT) will have financial markets on edge amid worries … Read more…
(Reuters) – Microsoft said on Thursday that it is now including Copilot AI features to its Microsoft 365 suite for individual consumers, a day after it rolled out on-demand AI agents for businesses. The Windows-maker will give its customers an option to either choose a Microsoft 365 subscription plan with Copilot AI features or one without it. It will also increase the prices of subscription plans in the U.S. by $3. Copilot will assist users … Read more…
By Patrick Wingrove (Reuters) – Novo Holdings, the controlling shareholder of Novo Nordisk, hopes to double the size of its recently acquired contract drugmaker Catalent over five years, a senior partner at the investment firm said, as it prepares for a likely focus on U.S. manufacturing by President-elect Donald Trump. Novo Holdings last month closed a $16.5 billion deal to buy U.S.-based Catalent. The firm then sold three of Catalent’s plants used to complete the … Read more…
(Reuters) – Scott Bessent, U.S. President-elect Donald Trump’s choice to head the Treasury Department, on Thursday said that extending Trump’s 2017 tax cuts that are set to expire at the end of this year is “the single most important economic issue of the day.” “If we do not renew and extend, then we will be facing an economic calamity,” Bessent told the U.S. Senate Finance Committee. “We will see a gigantic middle class tax increase.” … Read more…
NEW YORK (Reuters) – Goldman Sachs’ credit-card partnership with Apple may end before its contract runs out in 2030, Goldman CEO David Solomon said on Wednesday. “We have a contract with Apple to run that partnership until 2030, although there’s some possibility that it won’t continue until that time frame,” Solomon told analysts on an earnings call. The Apple card dragged down Goldman’s return on equity by 75 to 100 basis points last year, but … Read more…
By David Shepardson WASHINGTON (Reuters) – President-elect Donald Trump’s nominee to head the Transportation Department said he would allow an ongoing government probe into Tesla’s advanced driver assistance system to continue. The National Highway Traffic Safety Administration in October opened an investigation into 2.4 million Tesla vehicles equipped with Full Self-Driving (FSD) software after four reported collisions, including a fatal 2023 crash. “I will let NHTSA do their investigation,” former lawmaker Sean Duffy said at … Read more…
NEW YORK (Reuters) -Wall Street CEOs voiced confidence on Wednesday that the incoming U.S. administration would be business-friendly and good for banks as they reported a profits surge after dealmaking and trading picked up. The market environment has already been favorable for banks, with buoyant equity markets and anticipation that President-elect Donald Trump will usher in a deregulatory and lower-tax agenda. “There has been a meaningful shift in CEO confidence, particularly following the results of … Read more…
WASHINGTON (Reuters) – The Biden administration on Wednesday sued Southwest Airlines, accusing the carrier of illegally operating multiple chronically delayed flights and disrupting passengers’ travel. The U.S. Transportation Department said in its civil suit filed with the Justice Department that the carrier had operated unrealistic schedules, and said it is seeking maximum civil penalties. The department said Southwest operated two chronically delayed flights – one between Chicago and Oakland, California, and another between Baltimore and … Read more…