An exchange-traded fund driven by artificial intelligence booted Tesla and Amazon from its portfolio in June, instead choosing to load up on shares of companies including Qualcomm, Snap and GameStop. See full story.
Senate passes bill that targets China and chips in 68-32 vote
The Democratic-run Senate, with some Republican support, passes legislation on Tuesday that targets China and aims to support the American semiconductor industry, in a sign there’s bipartisan agreement on how to handle Beijing and a key U.S. sector. See full story.
European stocks and U.S. equity futures in holding pattern, as investors wait for ECB and U.S. inflation
Investors are unwilling to budge ahead of Thursday’s U.S. consumer-price inflation data. See full story.
Tech stocks that soared during pandemic are far from played out, says $9.5 billion fund manager
The world is in the ‘early days of tech infusing itself in every industry, much deeper,’ says Jonathan Curtis, portfolio manager at Franklin Equity Group. See full story.
El Salvador lawmakers vote to approve bitcoin as legal tender
President Nayib Bukele tweeted in the early hours of Wednesday that legislators had voted in favor of approving bitcoin with 62 out of 84 votes. See full story.
‘None of us are wealthy, but because my sister lived with my parents for approximately eight years prior to their deaths, we didn’t contest her demands.’ See full story.