Senate Bans Staff Trading on Prediction Markets as NBA Seeks Curbs
The Senate unanimously banned members and staff from trading on prediction markets, effective immediately.
Ben Carter
Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
U.S. Economy Grows at 2% Rate in Q1 as Oil Prices Surge
Brent crude jumped to $120 a barrel, raising the risk that oil costs feed into inflation and limit Fed cuts.
Stocks Rise to Fresh Highs as Investors Look Past Oil and Softer U.S. GDP
The S&P 500 topped 7,200 for the first time, and the Nasdaq also closed at a record.
Economy Watch
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Market Pulse
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Mortgage rates move with oil again as refinance rates stay near 6.4%
Freddie Mac’s weekly survey put the 30-year fixed at 6.3%, up from 6.23% a week earlier.
Gasoline Jump Pushes March PCE to 3.5% and Clouds Fed Rate Cuts
Gasoline prices jumped 24.1% in March, and Reuters said the Iran war, not broad inflation, drove much of the rise.
Brent Crude Hits $120 as Oil Shock Becomes the Growth Constraint
The U.S. economy grew at a 2% annual rate in the first quarter, with consumer spending, business investment and government outlays still firm.
Senate bans prediction market trading for members and staff
The Senate barred members and staff from trading prediction markets after scrutiny of possible insider bets around major announcements.
Brent Rises to $119.94 as Iran Port Blockade Keeps Oil Supply Stuck
Brent hit $119.94 a barrel and WTI reached $107.51 as traders priced in a longer Gulf supply outage.
Bank of Canada Holds 2.25% as Oil Complicates Rate Cut Outlook
The bank assumes crude falls to $75 by mid-2027 and warned that higher fuel costs are lifting inflation.
Powell Treats Oil Shock as an Inflation and Growth Hit
Powell said higher oil prices can cut disposable income, slowing GDP even as they lift near-term inflation.