Markets Begin to Rebound, and Harris V.P. Pick Expected Today

Category: Finance

Markets in Japan and Europe are rebounding after a global sell-off.

Keywords: Markets, Rebound, Global Sell-off

Source: The New York Times

Update At: 8/6/2024

Related Sources

Understanding The New IRS DeFi Broker Tax Regulations

The IRS has released new tax regulations for Decentralized Finance (DeFi) brokers, primarily affecting DeFi trading platforms. The regulations require the Interface Layer of DeFi services to obtain KYC information and report transactions to the IRS, similar to centralized finance exchanges. Users will need to share KYC data and will receive tax forms that only show proceeds from digital asset sales, without cost basis information. This marks a significant shift in the DeFi industry, aiming for more accountability and transparency but also presenting challenges for platforms and users.

Forbes

New opportunities for digital asset advisory services

The IRS has introduced new regulations for reporting digital asset transactions, significantly impacting tax and accounting practices. Accountants must prepare for increased client inquiries and adapt to the complexities of digital asset taxation, including the filing of Form 1099-DA. By mastering these regulations, firms can enhance their advisory roles and provide strategic guidance to clients on tax-efficient strategies and compliance.

Thomson Reuters Tax & Accounting

U.S. Department of the Treasury Releases Final Regulations Implementing Bipartisan Tax Reporting Requirements for Brokers of Digital Assets

The U.S. Treasury and IRS released final regulations for DeFi brokers, requiring them to report digital asset transactions on Form 1099, ensuring compliance without imposing new tax obligations on digital asset holders. This aims to reduce errors in tax filings and align digital asset reporting with other asset classes.

Treasury

Tesla Rival Rivian’s Stock Has Best Day EverAs Surprise Post-Election Rally Accelerates

Rivian stock experienced its largest daily percentage gain ever, rising 56% since Election Day, amid a broader rally in American car stocks. Despite concerns over potential cuts to electric vehicle subsidies under President-elect Trump, Rivian's performance has defied expectations. The company, however, remains significantly down from its peak and has yet to report a profitable quarter, with substantial institutional backing and a notable share of the U.S. electric vehicle market.

Forbes

Why Are fuboTV (FUBO) Shares Soaring Today

Shares of fuboTV surged 240% after a new streaming deal with Disney, where Disney will hold a 70% stake in a joint venture. Fubo also resolved legal disputes with Disney and ESPN, receiving $220 million. Despite volatility, fuboTV's stock has increased 260% this year, reaching a new 52-week high.

Yahoo Finance UK

Nvidia Stock Is Surging Today -- Is the AI Leader's Stock a Smart Buy for 2025?

Nvidia stock has surged over 200% in the past year, driven by strong demand for AI hardware and positive indicators from Foxconn's record revenue. Anticipation builds for CEO Jensen Huang's keynote at CES, where new products and advancements in AI technology are expected to be highlighted. Microsoft's significant investment in AI data centers further supports Nvidia's growth outlook.

Motley Fool

Moderna Stock Soars After First US Bird-Flu Death

Moderna's shares surged over 10% following the first reported bird-flu death in the U.S., as the company develops a vaccine for H5N1. Despite the recent gain, the stock has lost over half its value in the past year.

Investopedia

Why Nvidia Stock Slumped Tuesday Morning

Nvidia's stock experienced a decline of up to 6% following a record high, influenced by overall market weakness and recent product announcements at CES. CEO Jensen Huang unveiled new AI-powered gaming GPUs, the Cosmos platform for AI applications, and AI Blueprints for developers. Despite the recent dip, analysts believe Nvidia's stock has significant growth potential, with a market cap projected to exceed $4 trillion in the next 12 to 18 months, making it a favorable investment.

Motley Fool

The Verizon Administrative Settlement Payment is a Reminder Class-Action Lawsuits Won't Make You Rich

Verizon's $100 million class-action settlement resulted in payouts significantly lower than expected, with many customers receiving between $7 and $11 instead of the anticipated minimum of $15. The final amounts were affected by the number of claims filed and associated costs, highlighting the unpredictability of class-action lawsuit payouts.

Kiplinger's Personal Finance

Lincoln Financial Releases Its Q1 Market Intel Exchange, Highlighting Top Investment Trends on the Minds of Investors

Lincoln Financial's Market Intel Exchange report highlights key economic and market trends for 2025, emphasizing the Federal Reserve's cautious approach to monetary easing, potential impacts of policy uncertainty, and historical performance of the S&P 500. The report suggests that despite recent gains, investors should remain focused on long-term strategies and ensure portfolio diversification to navigate upcoming market volatility.

Business Wire