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The Latest Breaking News from Scott Bessent

Goldman Sachs says we’re on the verge of a stablecoin gold rush worth trillions

U.S. Treasury Secretary Scott Bessent believes stablecoins will buoy the market for U.S. Treasuries, and the government will sell more short-term debt to meet that demand.

Fortune

S&P Futures Tick Lower Ahead of FOMC Meeting Minutes and More Retail Earnings

September S&P 500 E-Mini futures (ESU25) are trending down -0.13% this morning, continuing to drop after a tech-led selloff in the prior session, while investors await the Federal Reserve’s July meeting minutes, comments from Fed officials, and earnings reports from more retail heavyweights.

Barchart

Russia-Ukraine war: List of key events, day 1,273

Here are the key events on day 1,273 of Russia’s war on Ukraine.

Al Jazeera

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Scott Bessent Says Genius Act 'Essential' To Secure US 'Leadership' In Digital Assets, Says It Will Boost Dollar Access For Billions

Treasury Secretary Scott Bessent backed the implementation of the GENIUS Act on Monday, also known as the stablecoin bill, citing its potential to secure “American leadership” in digital assets.

Benzinga

Stock Market Today: Nasdaq 100 Futures Slip— Palo Alto, XP, Allarity Earnings In Focus (UPDATED)

Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story

Benzinga

Larry Summers Warns Scott Bessent: 'Unless We See A Recession,' You Shouldn't Be Prescribing A 175 Basis Point Cut In Interest Rates

Former Treasury Secretary Lawrence Summers criticized the current U.S. Treasury Secretary Scott Bessent for weighing too directly on the direction of interest rates, something he believes could blur the lines between fiscal and monetary polices.

Benzinga

Xi Jinping Is 'Difficult To Deal' With, Says Treasury Secretary; S&P 500 Earnings Beat, Chinese Stocks Jolt From Trump Moves — Weekly Economics Recap

Let’s take a look at some of the most significant stories that broke over the weekend, including the latest on China’s economy, the SP 500 earnings, and the impact of stablecoins on the U.S. dollar.

Benzinga

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Scott Bessent Sees Nvidia-AMD China Deal As Blueprint, Facebook Users Claim $725 Million, Intel Surges On Trump Stake Buzz — Weekly Tech Recap

The weekend was a whirlwind of tech and market news. From a massive data privacy settlement for Meta Platforms (NASDAQ:META) to a unique revenue-sharing agreement between the U.S. government and chip giants, the stories were as diverse as they were impactful.

Benzinga

Bitcoin Climbs On Fed Rate Cut Hopes, Matt Gaetz Buys 'Digital Penguins,' Analyst Calls XRP 'Ideal' Entry — Weekly Crypto Recap

The past week in the crypto world was a mixed bag of events. Bitcoin (CRYPTO: BTC) saw a rise following the Federal Reserve Governor’s dovish comments on rate cuts, while altcoins pulled back. Meanwhile, former U.S. Representative Matt Gaetz made headlines with his purchase of Pudgy Penguins token and an…

Benzinga

Trump's unprecedented, potentially unconstitutional deal with Nvidia and AMD, explained: Alexander Hamilton would approve

Nvidia and AMD agreeing to give 15% of their China chips revenue back to the U.S. doesn't recall any deal ever struck by the U.S. government.

Fortune

Cynthia Lummis Backs Scott Bessent's 'Commitment' To Build Bitcoin Reserve Without Burdening US Taxpayers — 'I Have A Bill For That'

Sen. Cynthia Lummis (R-Wyo.) on Thursday backed a “budget-neutral approach” to building a Strategic Bitcoin (CRYPTO: BTC) Reserve, opposing the idea of purchasing additional BTC to address the mounting national debt.

Benzinga

Japan Posts Modest Growth Despite US Tariffs

Japan eked out modest growth in the second quarter despite painful US tariffs, official data showed Friday, in welcome news to embattled Prime Minister Shigeru Ishiba.

International Business Times

Stocks Close Mixed After Hot PPI Report

The S&P 500 Index ($SPX ) (SPY ) on Thursday rose +0.09%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell -0.02%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) was unchanged. September E-mini S&P futures (ESU25 ) fell -0.08%, and September E-mini Nasdaq futures (NQU25 ) fell...

Barchart

Trump Administration Plans To Tax More American Companies on Overseas Sales

The president's revenue-sharing agreement on chip sales to China may pass legal muster, paving the way for effective export tariffs.

Reason

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Al Jazeera

Trump administration sanctions two Mexican drug cartels, announces bounties

As part of its crackdown on gangs, the US Justice Department has offered $26m in rewards for Carteles Unidos leaders.

Barchart

Dollar Sees Support from Strong US PPI Report

The dollar index (DXY00 ) is up +0.26% as the strong US PPI report sparked a pull-back in expectations for Fed rate cuts in the coming months. In addition, San Francisco Fed President Mary Daly and St Louis Fed President Alberto Musalem today both threw cold water on the idea...

Barchart

Stocks Fall Back on Hot PPI Report

The S&P 500 Index ($SPX ) (SPY ) is down -0.24%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.36%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.11%. September E-mini S&P futures (ESU25 ) are down -0.39%, and September E-mini Nasdaq futures (NQU25...

Benzinga

US Treasury Freezes Bitcoin Purchases — Here's What Scott Bessent Plans To Do Instead

U.S. Treasury Secretary Scott Bessent on Thursday confirmed the government will not be buying additional Bitcoin (CRYPTO: BTC) for its strategic reserve, saying the holdings will grow only through confiscated assets.

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The Independent UK

US warns India could face higher tariffs if Trump-Putin talks fail

Donald Trump has already imposed a 50 per cent import levy on India

Fortune

U.S.-China chip war: How Trump’s Nvidia-AMD deal has redefined Washington’s export control policy

One dismayed Democratic lawmaker said the move signals to China “that American national security principles are negotiable for the right fee.”

Benzinga

Scott Bessent Says Nvidia-AMD China Revenue Deal Could Serve As 'Model' For Other Industries

Treasury Secretary Scott Bessent has praised the 15% revenue-sharing agreement between the U.S. government and chip giants Nvidia Corp. (NASDAQ:NVDA) and Advanced Micro Devices Inc. (NASDAQ:AMD).

Barchart

Stocks Muted Before the Open With Key U.S. PPI Data in Focus

September S&P 500 E-Mini futures (ESU25) are down -0.02%, and September Nasdaq 100 E-Mini futures (NQU25) are down -0.08% this morning, taking a breather after recent gains, while investors look ahead to crucial U.S. producer inflation data for insight into how aggressively the Federal Reserve may cut interest rates.

Fortune

There’s one small problem with Trump’s export deal with Nvidia and AMD: The Constitution says it’s illegal

Also: All the news and watercooler chat from Fortune.

International Business Times

Asian Markets Mixed As Bitcoin Surges To New High

Bitcoin hit a new peak during early Asian trading on Thursday, as the yen surged after the US Treasury Secretary said he expects Japan to hike interest rates.

The Independent UK

Treasury Secretary Scott Bessent fails to divest his financial holdings and hit with watchdog warning

Bessent, a former hedge fund manager, reportedly has a net worth of around $600 million

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