(CNBC) S&P 500 futures edged higher Tuesday night as investors parsed the latest financial releases from corporate America. Futures tied to the broad index advanced 0.1%, while Nasdaq 100 futures popped 0.4%. Dow Jones Industrial Average futures traded near flat. Tesla climbed more than 10% in extended trading after the company announced a renewed push into “more affordable” electric vehicle models. To read this article ..read more

(CNBC) Tesla is eliminating 3,332 jobs across the state of California, and 2,688 jobs in Austin, Texas, according to Worker Adjustment and Retraining Notification (WARN) Act letters and notices filed in both states. The layoffs are part of a broader restructuring that the electric vehicle maker announced last week. To read this article ..read more

(CNBC) The Federal Trade Commission on Tuesday voted 3-2 for a nationwide ban against noncompete agreements, which companies use to prevent employees from taking jobs with competitors in the same industry. The new rule is slated to go into effect 120 days after it is officially published in the Federal Register, though business groups are expected to challenge it. Within hours of the vote, the U.S. Chamber of Commerce pledged to sue the agency over the rule. To read this article ..read more

(CNBC) Jack Dorsey says that his payments company, Block (formerly Square), is expanding its bitcoin mining ambitions from designing chips to developing a full bitcoin mining system. The global tech firm has announced that it had finished the development of its own standalone three-nanometer bitcoin mining chip and was now in the process of working through the design with a “leading global semiconductor foundry.” To read this article ..read more

(Hedgeweek)Global hedge fund industry assets increased for the sixth successive quarter in Q1 2024, hitting a record $4.3tn on the back of strong performance and investor inflows, according to the latest figures from industry data provider HFR. To read this article ..read more

(CNBC) U.S. stock futures were little changed on Monday night after the S&P 500 snapped a six-day losing streak, buoyed by a rebound in tech stocks. Wall Street also looked ahead to key earnings and economic data later this week. Dow Jones Industrial Average futures rose by 18 points, or 0.05%. S&P 500 futures gained 0.02%, while Nasdaq 100 futures slid 0.06%. To read this article ..read more

(Hedgeweek) Florida man Michael Wayne Williams has been sentenced to one year and one day in prison for using his hedge fund management company Highguard Capital as part of a years-long, multimillion-dollar Ponzi scheme. To read this article ..read more

(Hedgeweek) Man Group, the world’s largest listed hedge fund firm, saw investors pull more than $1.6bn (£1.29bn) from its funds during the first three months of 2024, its second straight quarter of redemptions following outflows of $300m in Q4 2023, according to the group’s Q1 results. To read this article ..read more

(CNBC) General Motors is set to report its first-quarter earnings before the bell Tuesday. Wall Street expects General Motors to report solid, if not “resilient,” results for the first quarter of this year, largely driven by expectations that vehicle pricing remained higher than anticipated to begin the year, according to recent analyst notes.  To read this article ..read more

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