Donald Trump's family has won preliminary approval to start a national bank, riding a wave of deregulation under the Trump administration. For the president's family, the goal is to expand the use of USD1, their dollar-backed stablecoin, World Liberty Financial said earlier this month after receiving conditional approval. Bloomberg News Financial Reporter Paige Smith has the details of the move for today's Big Take.
Steven Wang, Founder & CEO of Dub, launched the copy trading platform 3 years ago after dropping out of Harvard to become an entrepreneur. He says the app offers a unique alternative to sports betting, and fresh opportunities for the increasing number of young Americans who say they are now investing their money to grow try and grow their wealth. Wang says Dub is for great traders who "don't need to go the traditional sort of boys club and Wall Street path to really become the next superstar."
Ed Morse, Senior Advisor and Commodities Analyst, discusses the recent fall in Brent crude oil prices. The decline is attributed to market attention on the potential impact of Iran sanctions, which are influencing supply expectations and investor sentiment in the commodities market. He speaks with Romaine Bostick on "The Close."
The segment features a discussion with Ankur Jain, CEO of BILT, and Harvey Spevak, Equinox Group Executive Chairman, about the newly launched exclusive partnership between Bilt, a membership and hospitality platform, and Equinox, a luxury fitness brand. The collaboration aims to connect the audiences of both brands by allowing Bilt members to redeem Bilt cash for credits that can be used toward Equinox experiences. The two speak with Romaine Bostick & Emily Graffeo on "The Close."
Ontario Premier Doug Ford says standing up to President Donald Trump in this trade war won't be easy. Ford says Canada must be willing to escalate this trade war and every option should be on the table.
Bill Quigley, Co-Founder of Tether and Wax, explains that Bitcoin is increasingly behaving like a gold hedge against U.S. government inflation, with its correlation to gold rising to 0.71. This shift has contributed to Bitcoin's 35% increase since June lows. He speaks with Romaine Bostick & Emily Graffeo on "The Close."
Apollo Chief Economist Torsten Slok comments on the economic impact of the the US Treasury's strategic debt buyback operations. Speaking on "Bloomberg The Close," Slok also discusses the outlook for Federal Reserve monetary policy.
Anne Walsh, chief investment officer of Guggenheim Partners, says the asset management firm is fully cooperating with regulators as they investigate an accounting issue at one of its subsidiaries. US prosecutors are looking at Mark Walter's investment empire and his relationship with Guggenheim. Walsh says Guggenheim's investment or trade-allocation processes are not part of the probe. She speaks on "Bloomberg Surveillance."
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Emily Graffeo, Norah Mulinda and Tim Stenovec.
Nick Samouilhan, portfolio manager at Wellington Management, joins Scarlet Fu and Eric Balchunas on "ETF IQ." Blackstone teamed up with Wellington Management and Vanguard Group to create two new funds that will give individual investors access to private assets.
Carlos Peña, head of ETF & funds management at Texas Capital, joins Scarlet Fu and Eric Balchunas on "ETF IQ." The Texas Stock Exchange notched its first primary listings as two small ETFs focused on the state's economy announced plans to transfer to the upstart marketplace. The two ETFs are Texas Capital Texas Index ETF (ticker: TXS) and Texas Capital Texas Oil Index ETF (ticker: OILT).
TerraPower CEO Chris Levesque said that hyperscalers are driving demand for nuclear power companies, as his company is set to announce a deal with a data center customer for a new nuclear power plant this year. Levesque, who was joined by Bloomberg News energy reporter Will Wade, also said that TerraPower is aiming to get construction time and consumer costs lower so that nuclear can become a larger energy source for the US.
