Wall Street Bonus Pool Hits Record Despite "Domestic And International Upheavals"

Asia Leads Global Value Rotation On Chip Woes By Abishek Vishnoi, Bloomberg Markets Live reporter and strategist A rotation from growth to value stocks is more pronounced in Asia than anywhere else globally, as doubts grow over the chip rally’s staying power. MSCI’s gauge for value stocks in Asia Pacific has risen about 6% this quarter, compared with a 2% drop in its growth counterpart, on track for its biggest outperformance since January-March 2022, according to data compiled by Bloomberg. The gap is wider than the swings in the US and Europe...

Jack Dorsey's Block Seeks US Trust Bank Charter For Bitcoin, Stablecoin Authored by Ezra Reguerra via Cointelegraph, Jack Dorsey's payments company Block seeks to establish a federally regulated trust bank to provide custody services for Bitcoin and stablecoins. Block said Tuesday it had submitted an application to the Office of the Comptroller of the Currency (OCC) to create Builders Bank & Trust, an uninsured national trust bank. If approved, the bank would operate under OCC supervision and offer custody and related fiduciary services. Block said the charter would give its custody operations a consistent...

Futures Rise, Oil Drops As Markets Ignore Latest Middle East Airstrikes Futures are higher (although off session highs), and oil erased overnight gains as the market moved past the latest Middle-East flare up which saw the US military strike 90 Iranian targets for a second day and Tehran retaliated against American allies in the Persian Gulf. And like during previous escalations, this time nobody believes it will last. As of 8:00am ET S&P 500 futures rose 0.2% and Nasdaq 100 contracts gained 0.6% as semiconductor stocks advanced in Asia, Europe...