NBA asks CFTC to tighten prediction market rules as Senate bans trading
The Senate unanimously passed a rule banning members and staff from trading prediction markets, effective immediately.
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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.
Low jobless claims keep the Fed on hold as layoffs stay subdued
Weekly jobless claims fell to 189,000, the lowest level since 1969, and below economists’ 214,000 forecast.
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U.S. PCE inflation rises 0.7% in March as gasoline prices jump
The Fed’s preferred inflation gauge rose 0.7% in March and 3.5% from a year earlier, the biggest annual gain in nearly three years.
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U.S. economy grew 2% in first quarter as Brent oil hit about $120
Government outlays rebounded and business investment held up, helping keep GDP afloat despite the oil shock.
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NBA asks CFTC for tighter prediction market rules
The NBA asked the CFTC for tighter limits on players, officials and team staff trading on prediction markets.
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Economy Watch
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Market Pulse
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U.S. jobless claims fall to 189,000, lowest since 1969
Weekly U.S. jobless claims fell to 189,000, the lowest level since 1969, and continuing claims dropped to 1.79 million.
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March PCE inflation rises 0.7% as core measure holds at 3.2%
Core PCE held at 3.2% year over year and rose 0.3% in March, leaving inflation far above the Fed's 2% target.
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U.S. GDP Grows 2% in First Quarter as Oil Prices Surge
The Commerce Department said GDP rose at a 2% annual rate in the first quarter despite higher energy prices from the Iran war.
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CFTC Reviews Record Feedback as Prediction Markets Face New Rules
The Senate barred members and staff from trading prediction markets after a unanimous vote.
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Economy Watch
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