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Strategy CEO: We're Buyers of Bitcoin Long-Term

Strategy Inc. has increased its cash reserves to $3 billion following a recent stock sale, allowing the company to temporarily halt Bitcoin sales between July 6 and July 12. Phong Le, Strategy President & CEO, explained that the company has evolved from a Bitcoin treasury firm into a comprehensive digital capital platform, currently holding over 840,000 Bitcoin. He speaks with Romaine Bostick & Katie Greifeld on "The Close."

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Bloomberg

Lucid Shares Tank as EV Maker Hires Restructuring Adviser

Lucid is working with restructuring advisers to turn around its struggling business, according to people familiar with the matter, sending the electric-vehicle maker's shares tumbling. Consultant AlixPartners has been engaged to examine all aspects of Lucid's operations, according to the people, who were not authorized to discuss the matter. The carmaker is aiming to optimize its business, cut costs and ensure that the rollout of a new mid-size vehicle is successful, the people said. Bloomberg's Ed Ludlow joins to discuss.

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Bloomberg

Trump Sees 'A Lot Of The Good Things' In the Housing Bill Says Rep. Downing

Rep. Troy Downing, Republican Congressman from Montana joined Balance of Power to discuss the recent news from the Middle East as well as the Kevin Warsh's recent hearing on Capitol Hill. He also discussed the housing bill that became law without Trump's signature after the president soured on the package of affordability provisions.

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Bloomberg

Wall Street Traders Seize on Fervor and Fear to Shatter Records

As artificial intelligence, war and the specter of inflation drive investors' exuberance and worries, Wall Street's traders have cracked the code to come out on top every single time. Five of the biggest US banks reported second-quarter results Tuesday with their divisions handling equities surpassing one record after another. JPMorgan Chase & Co. reeled in $6 billion from stocks alone, a personal best, while Goldman Sachs Group Inc. hauled in $7.42 billion, a new industry high. Underscoring the trend, a 45% jump at Citigroup Inc. was seen by shareholders as too shallow. For more, we speak with Herman Chan, Senior US Banks Analyst for Bloomberg Intelligence.

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