Latest news with #U.S.HouseofRepresentatives'
Yahoo
8 hours ago
- Business
- Yahoo
Why Dogecoin Is Inching Higher Today
Key Points After a massive rally last week, Dogecoin is posting small gains in Monday's trading. Dogecoin saw huge gains last week in conjunction with political tailwinds and news that a company had raised $500 million to buy the token. Dogecoin's valuation could continue to surge if investors keep being willing to embrace riskier cryptocurrencies. 10 stocks we like better than Dogecoin › Dogecoin (CRYPTO: DOGE) stock is seeing modest gains in Monday's trading. The cryptocurrency's token price was up 0.4% over the previous 24 hours of trading as of 5:30 p.m. ET. Meanwhile, Bitcoin was down 0.7% and Ethereum was up roughly 0.4%. After a huge run-up in valuations for altcoins in the previous week of trading, the cryptocurrency market is seeing a day of relative calm today. Dogecoin has barely climbed over the last day of trading, but it's still up approximately 36% over the last seven days. Dogecoin is up but mostly taking a breather today Dogecoin was one of the biggest winners among major cryptocurrencies in last week's trading. The token saw big gains in conjunction with the U.S. House of Representatives' "Crypto Week" event. As part of the legislative push, the GENIUS Act establishing regulatory guidelines for stablecoins was passed and signed into law by President Donald Trump, and the Clarity Act setting new guidelines for which assets are subject to regulation by the Securities and Exchange Commission (SEC) was approved to be sent to the Senate for further review. In addition to the legislative catalysts, Dogecoin also got a big valuation boost from news that Bit Origin had raised $500 million to invest in Dogecoin tokens for its cryptocurrency treasury. The meme coin saw huge bullish momentum thanks to those valuation drivers, but it's only managing slight gains today as investors reassess their strategies. What's next for Dogecoin? The crypto market has been red hot recently, and Dogecoin has been a major beneficiary of the trend. As expectations have risen that the Federal Reserve will deliver multiple interest rate cuts this year and signs of strong political support for the crypto industry have emerged, there have been indications that investors are pulling some investment dollars out of Bitcoin and backing riskier tokens with higher reward potential. If the trend continues, it could benefit Dogecoin. Should you buy stock in Dogecoin right now? Before you buy stock in Dogecoin, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Dogecoin wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $652,133!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,056,790!* Now, it's worth noting Stock Advisor's total average return is 1,048% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy. Why Dogecoin Is Inching Higher Today was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
U.S. House's 'Crypto Week' Shifts Toward Getting All Legislation Out Thursday
The U.S. House of Representatives' on-again, off-again "Crypto Week" has turned into a crypto day as a dispute among Republicans found a late-night resolution and the lawmakers hatched a plan to pursue all of its crypto legislative votes late Thursday. The Digital Asset Market Clarity Act — the industry's top priority, which would set out rules for U.S. crypto markets — is first on the agenda in voting set to take place just before 4 p.m., according to House plans. Then comes the second priority: the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, which would establish government oversight of stablecoin issuers. That second vote would be the last step before GENIUS could become U.S. law — the first major U.S. crypto policy. In a one-two-three strategy, the lawmakers would then handle a bill to ban a U.S. central bank digital currency (CBDC) — the issue that caused Republican members of the House Freedom Caucus to derail earlier procedural steps to advance the bills as they worked to get assurances that the CBDC issue would find its way into must-pass legislation. The procedural votes that were expected to be routine on Wednesday turned into a lengthy ordeal in which House Republicans fell into debate over the CBDC component, stretching the procedural delay almost to midnight and putting off the expected Wednesday vote on the Clarity Act. Back on track now, the White House is eagerly setting up a Friday afternoon ceremony in which President Donald Trump can sign the GENIUS Act, officially meeting one piece of a promise to the industry that his administration would establish U.S. crypto regulations this year. "This is common-sense, forward-looking legislation," said Representative French Hill, the chairman of the House Financial Services Committee, during a Thursday House floor debate on the GENIUS Act. "Wow, we're actually legislating," Hill said. "We're seeing bills passed in both chambers." However, Representative Maxine Waters, the committee's ranking Democrat, argued the bill would "plant the seeds for the next financial crisis." Though GENIUS may be in the lead, the Clarity Act to oversee the rest of the industry is much larger and more complex than the stablecoin bill. Though Senator Tim Scott, the chairman of the Senate Banking Committee, set a Sept. 30 deadline for his chamber to finish similar market structure legislation, a number of difficult hurdles remain to be cleared in that 10-week period. First, his committee hasn't yet shared the language of the bill it's been working on, which has so far only been described through a series of "principles" the panel's Republican leaders issued. Then the bill also has to be approved by the Senate Agriculture Committee, which held a hearing on the topic this week but isn't as advanced in its work on this topic. With objections already raised by Senate Democrats to the existing proposals — including from the ranking Democrats on both committees — "working through Democratic concerns on market structure will take well into the fall, and quite possibly beyond," predicted Beacon Policy Advisors, a firm that tracks regulatory developments in Washington. Though Scott said the senators would use the Clarity Act as a "strong template," crypto lobbyists are expecting a substantially different bill in the Senate. That would mean the House would face at least one more vote on crypto market structure down the road. If the House's Clarity Act vote goes as planned on Thursday, it's expected to see a big bipartisan result (with industry lobbyists so far expecting more than 30 Democrats to get on board). Crypto insiders are laser-focused on the number of Democrats backing that effort, which they believe will have an effect on the enthusiasm of the Senate to pursue its own bill. An especially strong result — akin to the 71 Democrats a predecessor bill drew in the previous congressional session — "will put pressure on the Senate to act," said policy analyst Jaret Seiberg of TD Cowen, in a client note, describing the market structure effort as much more important for the sector than GENIUS, "as it will establish the regulatory regime for trading platforms and tokens." So far, this Senate has shown a strong inclination toward crypto policy, having passed the GENIUS Act with a lopsided 68-30 result. But the market structure legislation could face a tougher road, because it's more complicated, and Democrats have been raising angry opposition to President Trump's personal business ties to the industry, which some lawmakers argue constitute a corrupt conflict of interests. Adds comments from lawmakers during the House floor debate on legislation. Sign in to access your portfolio
USA Today
6 days ago
- Business
- USA Today
Stocks rise Wednesday on strong bank earnings, tame inflation
U.S. stocks opened higher after a gauge of inflation was tamer than expected and big banks reported strong earnings results. The blue-chip Dow rose 0.3% to about 44,132 at the start of the session. The broad S&P 500 index was up 0.2%, about 11 points, to start at 6,255. The Nasdaq Composite Index ticked 0.1% higher, up 20 points to about 20,698. The producer price index, which reflects the prices businesses pay for their goods and services, was unchanged in June, helping assuage some concerns about the impact of tariffs. The Dow Jones consensus estimate was for a 0.2% rise in June. The reading came one day after the consumer price index showed signs of accelerating in June. The benchmark 10-year U.S. Treasury note was down about 3 basis points to 4.461% at the start of trading. Crypto news Digital currencies and the stocks of several crypto businesses rose Wednesday as the U.S. House of Representatives' "Crypto Week" continued. Bitcoin was up nearly 1% in the morning, to about $118,779, while shares of Coinbase gained 1.3%. Corporate news
Arab Times
06-07-2025
- Business
- Arab Times
Safe-haven gold rockets to KD 32.89 in Kuwait
KUWAIT CITY, July 6: Global gold prices witnessed a significant increase at the close of the first week of July, with the price of an ounce reaching $3,337, driven by intertwined economic and political factors that pushed investors toward gold as a haven. According to a report issued on Sunday by Dar Al- Sabaek Company in Kuwait, precious metals prices reflected global movements in the local market. The price of 24-karat gold reached KD 32.890 (about $107), 22-karat gold was priced at KD 30.150 per gram (roughly $98), and the price of one kilogram of silver remained steady at KD 407 (around $1,329). For reference, the ounce (troy ounce), also called 'awqiya', is a unit of mass used in measuring precious metals. It equals 28.349 grams in general measurement, but 31.103 grams specifically when measuring precious metals. The report explained that growing concerns over the expanding U.S. fiscal deficit played a key role in boosting gold prices. This followed the U.S. House of Representatives' approval of a tax cut and spending expansion package proposed by President Donald Trump's administration. The package is expected to increase public debt by more than $3.4 trillion over the next decade, according to estimates by the Congressional Budget Office and the Joint Committee on Taxation. This development weakened the U.S. dollar's performance, prompting investors to increase gold holdings as protection against market volatility and the reduced purchasing power of the US dollar. The report also highlighted the rising trade tensions after President Trump announced plans to issue formal notifications to several countries about new tariffs, which could potentially reach 70 percent, set to take effect in early August. This move stirred investor fears of a further deterioration in the global trade environment. Without trade agreements by July 9, this escalation could trigger a wave of retaliatory tariffs from nearly 100 countries, according to U.S. Treasury Secretary statements. The uncertainty bolstered gold's appeal as a hedge during this turbulent period. In addition, the U.S. dollar index dropped to 97 points against major currencies, providing extra support to gold prices. Reduced liquidity in U.S. markets due to the Independence Day holiday helped ease selling pressure during the week's final sessions. However, positive U.S. labor market data slowed gold's rise. saw an addition of 147,000 jobs, and the unemployment rate fell to 4.1 percent, reducing expectations of an immediate interest rate cut by the Federal Reserve. The report also noted that 10-year U.S. Treasury yields climbed to 4.338 percent, exerting further pressure on gold prices in recent sessions. Despite the U.S. market holiday, gold remained sensitive to economic and political developments amid declining risk appetite and investor anticipation of upcoming monetary policy decisions from central banks worldwide. Markets now await the release of the minutes of the Federal Open Market Committee (FOMC) meeting, weekly U.S. jobless claims data, and monetary policy announcements from several major central banks worldwide (KUNA)
Yahoo
22-05-2025
- Health
- Yahoo
Whitmer: Republican Medicaid cuts will be detrimental for Michiganders
Michigan Gov. Gretchen Whitmer (at bottom), joined Kansas Gov. Laura Kelly (top left) and New Mexico Governor Lujan Grisham (top right) on a virtual press call organized by the Democratic Governors Association to discuss the effects of Medicaid cuts. May 21, 2025 | Screenshot Michigan's Gov. Gretchen Whitmer said Wednesday evening that the Republican-led U.S. House of Representatives' budget bill – which passed Thursday morning – would have disastrous consequences for 2.6 million Michiganders. The dire message came during a virtual press call organized by the Democratic Governors Association on Wednesday. Whitmer was joined by Colorado Gov. Jared Polis, Kansas Gov. Laura Kelly and New Mexico Gov. Michelle Lujan Grisham. The call was meant to highlight the potentially damaging effects of making deep cuts to Medicaid, which has been a part of ongoing negotiations among Republican appropriators in the U.S. House of Representatives. Each member of Michigan's Republican congressional delegation voted for the bill, while the Democratic members of the delegation voted against it. Whitmer said that among the 2.6 million Michiganders who could lose access to their coverage if the cuts go through, nearly one million were children. SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX 'They're our neighbors. They're people who are battling cancer, veterans who served our country, who are disabled, the family next door, and the GOP is rushing to terminate Medicaid coverage for millions of Americans as fast as possible,' Whitmer said. 'They don't want us to see all that is contained in that bill, and blasting through these cuts is going to hurt those who can least afford care, and won't do anything to lower our health care costs. In fact, they'll rise for everyone.' Whitmer said the Republican U.S. House budget currently in the works would make some of the largest cuts to Medicaid in the country's history. She added that the cuts would cause providers to close their doors, a potential lack of available rural health care and a reduction in the quality of medical service in Michigan – on top of the possibility of terminated coverage for children and post-partum women. 'Make no mistake, families in Michigan and all across the country are going to feel the effects of this bill in our day-to-day lives,' Whitmer said. 'I'm talking to Michiganders every day. I'm hearing their stories. … We should be working across the aisle to make health care better and easier to afford, kind of like we've done here in Michigan.' Whitmer touted the bipartisan effort to enact the Healthy Michigan Medicaid expansion under the Affordable Care Act, which expanded Medicaid to more than a million people. Last year, the state also codified portions of the Affordable Care Act into Michigan. 'We wanted to protect Michiganders with pre-existing conditions and let kids stay on their parents' insurance until they're 26, and we wanted to guarantee essential services and insurance plans,' she said. If Republicans in Congress truly wanted to see improvements in health costs and help for more families to get coverage, Whitmer said she was all for it and was willing to work with them. But that's not what the budget bill does, she noted. 'It does the opposite,' Whitmer said. 'Families in my state and all across the country are going to pay the price for it, and that's why we're together, united, fighting for the people in our country and our ability to get health care.' Whitmer was asked about U.S. Rep. John James (R-Shelby Township), one of the front runners on the Michigan Republican side of the 2026 gubernatorial race to replace her. James voted to move the bill out of committee and voted for the bill on Thursday. The congressman has been steadfast in his belief that the bill and its cuts to Medicaid would help reduce fraud, waste and abuse. Michigan's governor was asked if voters from her state were willing to accept that argument. Whitmer said that she worked with Republican former Gov. Rick Snyder to expand the state's Medicaid program when she was the Michigan Senate minority leader before running for governor herself. She said Snyder, a self-professed 'nerd' for details, understood the math involved and what it meant to have access to these types of programs. 'It motivated him to work across the aisle. Almost a million people in Michigan got health care because of that work,' Whitmer said. 'It is shocking to me that we are in this moment where if there was one [Republican] congressperson with a backbone from each of our four states, they could single handedly stop this from happening by working together.' In that vein, she called on James to stand up to his caucus and be a hero. 'He says he wants my job. Well, you know what? I guarantee he doesn't want it if he's throwing 700,000 people off of health care in the state, running hospitals into the ground,' Whitmer said. 'He could be a hero here. … Michiganders expect and want leaders who are going to put their interests first. And so this talking point about fraud, we're all against fraud; 100 percent of us are against fraud, and we know there's always more ways that we can help find some savings and make government work better. But that's not what this bill is all about. This bill is about terminating healthcare for Americans in order to pay for a tax break for the ultra wealthy.'
