flash-finance

Federal Reserve Governor Lisa Cook cautions that the longer inflation remains above the central bank’s goal, the tougher the job will be to rein it in during remarks at an event in Alaska. (Source: Bloomberg)

A spate of well-known hedge funds reported steep losses in July as AI shares tumbled, most notably forcing the highly leveraged Situational Awareness to sell most of its stock portfolio at a deep discount to Ken Griffin’s Citadel.

The technology trade may be poised to become even more dependent on retail investors and more volatile after a rough July, according to an assessment of preliminary data on technology, media and telecommunications equity sector hedge funds from JPMorgan Chase & Co.

Also Situational Awareness margin calls, sports betting regulation and brokerage sports betting revenue.

Gulf oil exports steady in July, still 40% below pre-war mark Reuters

Phillips 66 beats quarterly estimates as Iran war boosts US refining margins Reuters

Dow closes at record on Mideast optimism; SpaceX, AMD drag Nasdaq Reuters

Block Inc. lifted its annual profit guidance on Wednesday after delivering quarterly results that topped expectations due to growth in both its Square and Cash App businesses.

Fuel-makers enjoying skyrocketing profits will likely keep reaping standout margins through the next quarter and beyond, according to an executive from a top US refiner.

Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Carol Massar and Tim Stenovec. (Source: Bloomberg)