New York Financial News

By Luc Cohen and Jody Godoy

Investing.com — {8830|Gold}} can’t seem to put in a positive close these days, even when the dollar and Treasury yields are in retreat.

By Daniel Wiessner

Prosecutors and defense attorneys in the criminal case of former FTX CEO Sam Bankman-Fried, also known as SBF, painted a very different picture for the jury to consider during the trial.

Google on Wednesday unveiled a next-generation Pixel smartphones lineup that will be infused with more with more artificial intelligence tools capable of writing captions about photos that can be altered by the technology, too

By Yuvraj Malik and Max A. Cherney

Investing.com — The oil trade seems to have woken up to the fact that there’s something bigger after all than OPEC: The economy.

By Jonathan Stempel

30-year yields rose above 5% overnight, as investors worried about the Federal Reserve holding rates higher for longer as it battles to bring down inflation. Yields have surged as investors reprice the likelihood that the U.S. central bank will keep rates elevated and possibly raise them again if the economy continues to show resilience and price pressures remain above the Fed's 2% target. Concerns over rising Treasury supply and oil prices are also weighing on the market. As yields jump, investors are also focused on the likelihood that high rates will ultimately cause a recession, with many analysts forecasting weakness in the fourth quarter and into 2024. “I think that the real reason the long end has been in a free fall is mainly because of the yield curve steepening trade, where the curve has a tendency to reprice an economic slowdown,” said Tom di Galoma, managing director and co-head of global rates trading at BTIG in New York. The closely watched yield curve between two-year and 10-year notes reached minus 30 basis points on Wednesday, after inverting as far as minus 111 basis points in March and July.

Made By Google event in New York, the American tech giant has announced its plan to incorporate generative AI features from its Bard chatbot into Google's own virtual assistant. This integration aims to offer personalized assistance with reasoning and generative functions on mobile devices. "(A) whole task is done through a couple of simple questions that you're asking your assistant, which is, we think, a very, very powerful concept," Sissie Hsiao vice president, Google assistant and Bard, told the news agency.

The federal judge who ruled that Ripple Labs Inc.’s cryptocurrency doesn’t constitute a security when sold to the general public denied the Securities and Exchange Commission’s request to appeal the determination before trial.

By Milana Vinn and Anirban Sen

Wall Street is holding steadier after the bond market relaxed its vise a bit on the stock market

Wall Street is holding steadier in mixed trading after reports suggested the U.S. economy may be cooling

Former President Donald Trump is back at New York civil fraud trial for a third day Wednesday after running afoul of the judge by denigrating a key court staffer in a social media post

Sam Bankman-Fried's trial places the former billionaire in a Manhattan courtroom alongside prosecutors steeped in financial crimes and political corruption cases, a veteran judge, and former friends and colleagues set to testify against him. Here's who will play key roles during the trial, which prosecutors say could last up to six weeks:

The NFL needs more women to complete its takeover of the American sports landscape. There is plenty of room for more men in Taylor Swift’s legion of “Swifties" as she continues her quest for total pop-culture supremacy. Now it seems that Swift and the NFL have stumbled upon the perfect solution to fill the gaps in each other’s audiences: They have joined forces.

PHOENIX—Unless it’s an early-morning caffeine emergency or vacation mimosa, I’d sooner board last than spring for snacks and drinks at the airport. Yet there I was on Sunday, wearing out the company credit card at shops and restaurants for a few hours at Sky Harbor International Airport. My mission: See how far $100 would go in an era of high inflation and daily social-media posts on outrageous airport prices.

Click here! New York-based KKR joins peers like Apollo Global Management Inc. and Citadel Securities in expanding in India to support their global businesses.

Izzy Englander’s Millennium Management is in discussions to invest billions of dollars with Schonfeld Strategic Advisers in a rare partnership deal between two industry heavyweights, according to people familiar with the matter.

By Luc Cohen