A number of stocks fell in the afternoon session after the Trump administration announced intentions to impose a 35% tariff on many goods imported from Canada.
A little-noticed provision tucked deep within the "One Big, Beautiful Bill" that was passed and signed into law last week is raising alarm bells among professional gamblers. Wall Street and gambling companies themselves, however, don't seem that bothered.
UFC at the White House and Team USA Soccer in the World Cup are among the sports events that could take place on July 4, 2026, to celebrate America's 250th birthday.
Gamblers could be hit with a tax bill even if they break even due to a little-noticed line in Senate Republicans' bill, causing concern among professionals and prompting calls for a fix.
The industry has gained popularity in the U.S. recently, attracting professionals as well as newcomers, driven by the rise of online platforms such as FanDuel, DraftKings (DKNG), and Kalshi.
Unprofitable companies face headwinds as they struggle to keep operating expenses under control.
Some may be investing heavily, but the majority fail to convert spending into sustainable growth.
Several professional athletes have announced taking salary or endorsement money in Bitcoin (CRYPTO: BTC) in recent years, including NFL superstar Saquon Barkley.
Investor sentiment shifts towards risk-on assets, as growth-oriented ETFs hit fresh highs. ARK Invest's funds lead the rally, benefiting from optimism around disruptive tech and easing headwinds. Other thematic ETFs, like ALAI and BETZ, also reach new milestones. Analysts attribute this to a soft landing for the economy and confidence in equity markets. However, valuation risks are still present.
