Nvidia drives the market, stocks hit records, Trump talks Bitcoin: Markets news roundup

Finding a place that’s livable and feels like home can depend on a bunch of factors.

According to the Economist Intelligence Unit (EIU) annual Global Liveability Index 2024 report, some cities provide better living conditions than others.

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Federal Reserve Chair Jerome Powell addressed the Senate Banking Committee on Tuesday as part of his semiannual address to Congress on monetary policy and suggested that the Fed is paying close attention to when to cut rates. He also emphasized that officials are continuing to make decisions on a meeting-by-meeting basis.

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Eric Beiley, executive managing director of The Beiley Group at Steward Partners, spoke with Quartz for the latest installment of our “Smart Investing” video series.

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The presumptive Republican presidential nominee, Donald Trump, is scheduled to speak at the upcoming Bitcoin Conference in Nashville, Tennessee, later this month. While this would be the first time a presidential candidate would attend the conference, it has sparked a debate about whether Trump will receive support from the crypto community in the upcoming election.

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Bitcoin is making noise in some parts of Texas — literally.

Hood County, Texas, is making headlines after residents have fallen ill due to the excessive noise produced by a Bitcoin mining site acquired by Marathon Digital Holdings earlier this year. Residents are experiencing hearing issues, headaches, dizziness, and sleep disturbance.

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Tesla is the weakest link of the so-called ‘Magnificent-Seven’ — a group of tech stocks that have for the most part, barring Apple and Tesla, outperformed the rest of the stock market. Now the Elon Musk EV company is making a comeback.

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Bitcoin experienced a slight rebound on Monday morning, increasing by 0.29% and trading at around $57,000.

The top cryptocurrency had dropped to $55,000 on Friday as the now-defunct crypto exchange Mt. Gox began repaying its creditors in Bitcoin worth billions of dollars, leading to a massive sell-off by the creditors. Even with the recent recovery, though, Bitcoin is still more than 8% below its last week’s high.

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Right now is a weird time to be Tesla. On the one hand, sales are flagging, the company’s newest vehicle is an absolute mess, and its flagship software only works for an elite few. On the other, the stock keeps climbing, with Tesla’s market cap now well over $800 billion. As it turns out, we have a word for for stocks whose share price has no meaningful relation with the company’s underlying financials: Meme stocks.

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Eric Beiley, executive managing director of The Beiley Group at Steward Partners, breaks down what will happen to markets if Donald Trump wins a second term

Almost half of adult Gen Zers are still getting financial help from their parents, according to a new Bank of America study of the generation’s financial health.

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