President Donald Trump on Tuesday announced a joint venture — Stargate — with OpenAI, Oracle and Softbank invest pledging to invest an initial $100 billion and up to $500 billion over the next four years in artificial intelligence infrastructure in the United States.
Trump’s SEC launching ‘crypto task force’
The Securities and Exchange Commission announced acting Chair Mark Uyeda has launched a “crypto task force” aimed at “developing a comprehensive and clear regulatory framework for crypto assets.” The SEC added the panel’s task will be to develop a clear set of rules while also addressing issues regarding registration of coins. The announcement sent Bitcoin up some 2.4% to more than $106,000.
Netflix surges in stellar results, raises prices
Shares of Netflix climbed sharply after the company announced its fourth-quarter results that beat revenue and profit expectations and as it surpassed 300 million paid memberships during the quarter. The company will hike prices of most of its U.S. plans. It will also raise prices in Canada, Portugal and Argentina.
Markets climb on Trump tariff delay
Stocks on Wall Street advanced on Tuesday as investors assessed that Trump’s comments and first-day actions around international trade were a bit softer than initially believed. The president stopped short of authorizing new levies on his first day back in the Oval Office, sending the Dow Jones Industrial Average up over 500 points, or 1.24%. The S&P 500 gained 0.88%, and the Nasdaq Composite rose 0.64%. Over in Europe, the pan-European Stoxx 600 closed around 0.4% higher.
[PRO] A stock market that doesn’t make sense
The stock market is once again trading near record highs, but the investment landscape is full of contradictions that are hard to balance, according to Deutsche Bank macro strategist Henry Allen. He pointed to several parts of the market where investors appear to be betting on the more optimistic of possible outcomes, despite some evidence that they should be more cautious.
