The single biggest gainer in the S&P 500 was Super Micro Computer, which jumped 8.2% to bring its year-to-date gain to 221.5%. The company, which sells servers and storage systems used in artificial intelligence and other computing, is part of the AI supernova that has overshadowed almost everything else on Wall Street. Chip company Broadcom…
The Financial Stability Board (FSB) is taking a closer look at the use of stablecoins in emerging markets. The watchdog group made the announcement after a plenary board meeting in Toronto. “In emerging markets and developing economies (EMDEs), crypto-assets present particular challenges for monetary policy and capital flow management,” the board said. “Members discussed the…
A US Securities and Exchange Commission (SEC) commissioner says tokenization is gaining traction among blue-chip companies and could provide further efficiencies for global markets and investors. During the SEC’s 30th Annual International Institute for Securities Market Growth and Development, Commissioner Mark T. Uyeda explains how tokenization—the conversion of assets such as securities holdings into digital…
Some government responses to post-COVID inflation have been frankly demagogic. Blaming inflation on massive, newfound corporate “greed,” as is often done, is perhaps the most foolish of all. When did so many corporations suddenly become “greedy?” Were corporations previously seemingly altruistic? Doesn’t every buyer of a widget try to buy at the lowest price, and…
Stocks have soared to record highs this year on the back of an unexpectedly resilient US economy and a euphoric AI boom. Defying Wall Street’s already buoyant — and still bullish — forecasts, the S&P 500 is up more than 15% year-to-date, while the tech-powered Nasdaq is up roughly 20% as big tech continues grow….