To The Moon

The Trump rally in the stock market stumbled this past week, in no small part owing to the president-elect's controversial appointments to the incoming administration.After hitting a record just over 6000 on Monday, the S&P 500 index shed a little more than 2% this past week, with a 1.3% drop in Friday's session. The tech-dominated Nasdaq Composite fell even more sharply, losing over 3%, while the Dow Jones industrials managed to lose only 1.2%."The net effect is that the Republicans might be delayed in moving forward on tax legislation unless every member agrees with every provision of a $4 trillion package," says the Strategas team, referring to the renewal of the Tax Cuts and Jobs Act, which expires at the end of 2025. The GOP would probably want to pass an extension of the TCJA in the first half of 2025, before an increase of the debt ceiling, the suspension of which ends on Jan.

Taiwan Semiconductor Manufacturing Company has been ordered by U.S. authorities to halt shipments of advanced chips to China, according to a report by Reuters, in the latest effort to curb exports of critical technologies.The U.S. Commerce Department sent a letter to the chip maker imposing export restrictions on certain advanced semiconductors to China starting Monday, Reuters reported over the weekend, citing a person familiar with the matter.TSMC dominates the market for manufacturing high-end chips. It leads the market for semiconductors used for artificial intelligence applications. The company also makes the core processors inside Apple iPhones, Qualcomm mobile chipsets, and processors made by Advanced Micro Devices.The news comes after a report last month that one of TSMC's products was found inside Huawei AI chips, one of China's top alternatives to Nvidia's cutting-edge processors that remain off-limits to Chinese customers.Huawei is banned from purchasing chips manufactured u

Brian Armstrong, CEO of cryptocurrency exchange Coinbase, has publicly endorsed GOP nominee David McCormick for the Pennsylvania senate seat, citing his friendlier stance on cryptocurrency.

$Oracle(ORCL)$ plans to invest more than $6.5 billion to set up its first public cloud region in Malaysia, the company said on Wednesday, the latest major investment by a global tech firm into the S

Although they have struggled under Biden, solar stocks appeared to get a boost following Kamala Harris's debate performance. The unwinding of several "Trump trades" grabbed investors' attention early Wednesday. But by the time Wall Street closed, a fledgling "Harris trade" had also started to take shape.Bitcoin prices tumbled, while shares of Trump-sensitive stocks like Trump Media & Technology Group Corp. and private-prisons company Geo Group Inc. fell, as investors reacted to the higher perceived odds of a Kamala Harris victory in November's presidential election by dumping shares expected to benefit from a second Donald Trump administration.Around the same time, shares of long-suffering solar-energy companies started to perk up. They ultimately finished Wednesday's session sharply higher, booking their biggest daily gains since May, according to Dow Jones Market Data.Speaking more broadly, Hatfield said that the market was "a little destabilized by the prospect of a Harris win" e

The Federal Reserve’s preferred measure of underlying US inflation rose at a mild pace and household spending picked up in July, reinforcing policymakers’ plan to start cutting interest rates next mon

Tesla Inc. shareholders have the opportunity to send a message to Chief Executive Elon Musk and his compromised board of directors by voting against Musk's self-designed pay package.Shareholders had p

Tesla's shares were down early Monday after having fallen 0.5% to $187.9 in the final session of the last week.The stock move came after The Wall Street Journal reported over the weekend that Tesla CEO Elon Musk took drugs with some Tesla board members, citing people who have witnessed the drug use and others with knowledge of it.It said the volume of drug use by Musk and with board members has become concerning, according to some of these people. Barron's contacted Tesla for comment early Monday. Musk and his lawyer, Alex Spiro, didn't respond to requests for comment, when The Wall Street Journal said it had approached them.Tesla stock was 1.4% lower in premarket trading Monday. Nasdaq Composite futures were down 0.1%. Tesla shares have fallen 21.9% over the past month while the S&P 500 and Nasdaq Composite have risen 4.1% and 7.6% respectively.