Shares in U.S. oil producer Occidental Petroleum fell to $56.17 on Tuesday, below a level that has routinely triggered purchases by its biggest holder, billionaire investor Warren Buffett's Berkshire Hathaway. Past multimillion-share purchases were so routinely timed to drops below $60 that Wall Street analysts called it "the Berkshire put," for setting a price floor on the oil firm's shares. But Occidental has traded below that price all month, the longest period since a swoon in January that ended after Berkshire acquired 4.3 million shares in early February.
Bond-Market Pros Are Unimpressed With Baby Whales From Crypto
(Bloomberg) -- They are turning into the strangest of bedfellows in the financial world: The famously safe securities issued by the US Treasury and the notoriously not-so-safe world of cryptocurrencies.Most Read from BloombergThe Serious Work That Free Play Can DoIssuers of crypto stablecoins meant to track the dollar one-for-one have become noticeable players in the Treasury market as they seek the safest and most-liquid assets to back the value of their tokens. For crypto promoters, it’s a dev
Controversial Crypto Firm Prometheum to Treat Uniswap and Arbitrum's Tokens as Securities
Prometheum is forging ahead with its strategy to comply with the U.S. Securities and Exchange Commission's view on cryptocurrency transactions by letting two more tokens into its custody operation for crypto securities, whether the rest of the industry agrees or not.
Controversial Crypto Firm Prometheum to Treat Uniswap and Arbitrum's Tokens as Securities
The SEC-registered crypto platform is expanding its custody operation beyond Ethereum's ETH, and that means it would be holding UNI and ARB as securities.
BlackRock’s ETHA Becomes First Ethereum ETF to Cross $1B in Net Inflows
ETHA holds over $860 million in net assets. Only Grayscale’s mini ether trust (ETH) and Ethereum trust (ETHE) have more. Its net inflows are more than the next three highest...
Wall St eyes higher open with payrolls revisions, Fed minutes on tap
(Reuters) -Wall Street's main indexes were set for a higher open on Wednesday, as investors awaited the release of the updated U.S. payrolls data and the minutes from the Federal Reserve's July policy meeting. The report from the Bureau of Labor Statistics, with preliminary revisions to the jobs data, is due at 10:00 a.m. ET. Most economists expect a downward revision, with Goldman Sachs estimating that 600,000 to 1 million fewer jobs were created between April 2023 and March 2024.