BlackRock has redesigned one of its money market funds to meet new US stablecoin rules. The $13.5 trillion asset manager said the revamped fund will help manage reserves for companies behind US dollar-pegged stablecoins, offering them a safe place to park customer funds.
Gold prices rose to end last week, hovering near record highs and heading for a seventh consecutive weekly gain, supported by growing concerns over the economic impact of a prolonged U.S. government shutdown and expectations of interest rate cuts.
Bitcoin, the world’s largest cryptocurrency by market value, hit a record high, crossing $125,000 for the first time in history. Bitcoin’s previous record was $124,480 in mid-August, buoyed by friendlier regulations from U.S. President Donald Trump’s administration
Japanese shares are expected to keep setting records even as the nation’s currency and bonds sputter after fiscal dove Sanae Takaichi was elected on Saturday to lead the ruling party and become prime minister.
Tesla announced record quarterly deliveries, but concerns that an expiration of the U.S. tax credit for EVs would turn a rush of buying into a trickle weighed on its shares. Carmaker went all in to drive sales before the withdrawal of the $7,500 federal tax credit
Oil prices fell over 1% to their lowest in four months, extending a run of declines into a fourth day, due to concerns about oversupply in the market ahead of a meeting of the OPEC+ group over the weekend.
