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TradeBriefs Editorial

From the Editor's Desk

Are passive funds to blame for market mania? - The Economist (No paywall)

The year is 2034. America’s “magnificent seven” firms make up almost the entirety of the country’s stockmarket. For Jensen Huang, the boss of Nvidia, another knockout quarterly profit means another dizzy proclamation of a “tipping point” in artificial intelligence. Nobody is listening. The long march of passive investing has put the last stockpickers and stock-watchers out of a job. Index mutual and exchange-traded funds (ETFs)—which buy a bunch of stocks rather than guessing which ones will perform best—dominate markets completely. Capitalism’s big questions are hashed out in private between a few tech bosses and asset managers.

Continued here


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House Races to Watch in California  
  

House Races to Watch in California
“It’s because of the volatility of the party balance, with these House races going back and forth,” said Raphael Sonenshein, the executive director of the Haynes Foundation, a political science research nonprofit in the Los Angeles region.


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Novo Nordisk's diabetes drug Ozempic slashed the risk of kidney disease progression in trial  
  

Novo Nordisk's diabetes drug Ozempic slashed the risk of kidney disease progression in trial
Novo Nordisk's blockbuster drug Ozempic cut the risk of kidney disease progression and related health complications in diabetic patients, according to initial late-stage trial results released Tuesday. 


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Are things going backwards for women on Wall Street? - FT (No paywall)  
  

Those with the chops to make it to senior management in banking may not want to sit around and wait their turn


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Diversify your AI plays — these are the best alternatives to Nvidia, fund managers say - CNBC (No paywall)  
  

Diversify your AI plays — these are the best alternatives to Nvidia, fund managers say
Tech investor Paul Meeks says it's "too risky to be in just one" stock when it comes to AI. And one analyst names two startups that could be the next Nvidia.


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PwC strips partners of leadership roles over election rule breaches - FT (No paywall)  
  

Big Four firm found three senior executives committed ‘significant violations’ of its electioneering rules


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Super Tuesday 2024 Primary Election Live Results: All the Republican and Democratic Races  
  

Super Tuesday 2024 Primary Election Live Results: All the Republican and Democratic Races
Voters in 16 states and one territory head to the polls today in the largest contest so far in the 2024 presidential primary. One state, Alaska, will hold only a Republican contest. And Iowa and American Samoa will hold only Democratic contests.


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Bitcoin price passes $69,000 to set brief new record - FT (No paywall)  
  

More than $7.5bn has flowed into new spot ETFs since their approval by US regulators in January


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Houthi attacks reveal murky world of ship nationality - FT (No paywall)  
  

Missile strikes aimed at Israeli, US and British vessels sailing near Yemen expose flag and ownership ambiguities


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Will Big Tech agree to play by Europe's rules? - FT (No paywall)  
  

This week is the deadline for large online platforms to comply with new EU regulations on competition. Too little too late, say some


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Meet America's Best Startup Employers 2024 - Forbes (No paywall)  
  

Meet America's Best Startup Employers 2024
A growing number of companies have been putting return-to-work mandates into action—often forcing employees who relocated during the pandemic to move back near a company hub or leave their jobs entirely. But Tendo, a healthcare startup founded by two siblings in 2020, has taken a different approach: it's bringing the office to employees.


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Brown University Will Reinstate Standardized Tests for Admission  
  

Brown University Will Reinstate Standardized Tests for Admission
For every school that is bringing back standardized tests, a number of institutions are going in the opposite direction, as part of a growing test-optional movement in the United States. Some 2,000 colleges and universities have said they will not require admissions examinations, according to FairTest, an anti-testing organization.


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How the ‘Uncommitted’ Effort to Protest Biden Has Spread in Super Tuesday States  
  

How the ‘Uncommitted’ Effort to Protest Biden Has Spread in Super Tuesday States
The other states also lack Michigan’s position in the broader backlash to Mr. Biden’s policy: The state has a sizable Arab American population, for whom the issue has been particularly painful, and ahead of the vote, prominent Democrats in the state warned about the potential for political peril. The “uncommitted” effort drew the backing of Representative Rashida Tlaib, a member of the group of liberals in the House known as the squad.


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The Biggest Issue on Americans’ Minds Is Also a Tough One to Agree On  
  

The Biggest Issue on Americans’ Minds Is Also a Tough One to Agree On
The conversations revealed worry, frustration, confusion and suspicion. There was appetite for the hard-line approach pushed by Donald J. Trump, the likely Republican nominee who has made his career on anti-immigrant policies and rhetoric. There was empathy for migrants who many believe have no other options. And there was little hope that President Biden might figure out a way out of the morass. Notably, the solutions voters proposed didn’t fit neatly into either party’s ideological box.


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Barrasso Opts to Run for No. 2 in Senate G.O.P. Leadership Shake-Up  
  

Barrasso Opts to Run for No. 2 in Senate G.O.P. Leadership Shake-Up
“For me, it’s really about trying to be a difference-maker,” Mr. Thune told Dakota News Now in a report published on Monday. “I think I have something to contribute there. I think we’re ready for a new generation of consistent, principled, conservative leadership for Republicans in the United States Senate that empowers our individual members.”


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Do Americans Have a ‘Collective Amnesia’ About Donald Trump?  
  

Do Americans Have a ‘Collective Amnesia’ About Donald Trump?
For now, the erosion of time appears to be working in Mr. Trump’s favor, as swing voters base their support on their feelings about the present, not the past. A New York Times/Siena College poll conducted late last month found 10 percent of Mr. Biden’s 2020 voters now say they support Mr. Trump, while virtually none of Mr. Trump’s voters had flipped to Mr. Biden. The poll found Mr. Trump’s policies were viewed far more favorably than Mr. Biden’s.


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Dodge Charger will live on as a new EV and a gas-powered muscle car  
  

Dodge Charger will live on as a new EV and a gas-powered muscle car
The only difference in the EVs and gas vehicles could be the use of a \"Fratzog\" split deltoid logo for EVs rather than Dodge\'s current dual racing stripes. Kuniskis said the company is still determining whether to use the Fratzog — a made-up word initially used by Dodge from 1962 through 1976 — for the gas models.


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Bipartisan US bill could force ByteDance to divest TikTok  
  

Bipartisan US bill could force ByteDance to divest TikTok
\"This legislation will trample the First Amendment rights of 170 million Americans and deprive 5 million small businesses of a platform they rely on to grow and create jobs,\" TikTok said in a statement to the BBC.


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Trump-allied election groups burned through millions with no evidence of widespread fraud  
  

Trump-allied election groups burned through millions with no evidence of widespread fraud
Almost 70% of their funding in 2022 came from the Conservative Partnership Institute, a nonprofit group that\'s led in part by former Trump chief of staff Mark Meadows, according to CPI\'s tax records from that year.


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Ahead of Super Tuesday, Nikki Haley says she will stay in the 2024 presidential race as long as she is 'competitive'  
  

Ahead of Super Tuesday, Nikki Haley says she will stay in the 2024 presidential race as long as she is 'competitive'
\"No, I think I\'ll make what decision I want to make, but that\'s not something I\'m thinking about,\" Haley said, adding that the pledge was made at the time \"in order to get on the debate stage.\"


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'The Middle Class Is On A Sinking Ship' — Investment Strategist Warns The American Dream Of Living Freely Is 'Dying'  
  

'The Middle Class Is On A Sinking Ship' — Investment Strategist Warns The American Dream Of Living Freely Is 'Dying'
Gold has long been considered the ultimate safe-haven asset, but a growing number of investors are now turning to farmland for better returns and greater protection against inflation and economic downturns. See how farmland is becoming easier than ever to invest in. 


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BBC Verify: How to spot AI fakes in the US election  
  

BBC Verify: How to spot AI fakes in the US election
Images generated by artificial intelligence (AI), are one of the emerging disinformation trends ahead of the US presidential election in November. A BBC investigation discovered dozens of deepfakes circulating on social media.


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Meta-Owned Sites Briefly Down For Users After 'Technical Issue'  
  

Meta-Owned Sites Briefly Down For Users After 'Technical Issue'
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we\'ll bring you hard-hitting investigations, well-researched analysis and timely takes you can\'t find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.


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‘Scary and Daunting’: Dartmouth Players Detail How Union Plan Came Together  
  

‘Scary and Daunting’: Dartmouth Players Detail How Union Plan Came Together
There is no visible movement to organize by other Dartmouth teams. And a reminder that the case is far from final arrived just before the vote: Dartmouth filed an appeal of a regional director’s decision last month to classify the players as employees to the full National Labor Relations Board, which has jurisdiction only over private employers.


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Philadelphia Man Is Freed After 34 Years in Prison  
  

Philadelphia Man Is Freed After 34 Years in Prison
Mr. Johnson, who had maintained his innocence throughout his years behind bars, said he had spent the first 24 hours of his newfound freedom taking a bath, shopping for clothes and getting a driver’s license. He enjoyed a big meal with his family, with rib-eye steak, shrimp and steak fries.


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Josh Stein Wins Democratic Primary for North Carolina Governor  
  

Josh Stein Wins Democratic Primary for North Carolina Governor
His re-election victory in 2020, however, showed how slim his margins could be: He won by fewer than 14,000 votes that year, with 50.1 percent of the vote. Mr. Trump won the state in 2020 by 1.3 percentage points, and Mr. Cooper by more than 4 percentage points.


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Mark Robinson Wins Republican Primary for North Carolina Governor  
  

Mark Robinson Wins Republican Primary for North Carolina Governor
Mr. Robinson supports a so-called heartbeat law, banning abortion at about five or six weeks of pregnancy; such a ban would go further than current state law, which restricts abortion after 12 weeks. His campaign spokesman said that Mr. Robinson supports exceptions for rape, incest or when the life of the mother is in danger, but he did not provide details.


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Harvard’s Response to Subpoenas Is Called ‘Useless’ by House Committee  
  

Harvard’s Response to Subpoenas Is Called ‘Useless’ by House Committee
Other universities have also been struggling with the challenges of responding to the Hamas attacks and the growing death toll and hunger in Gaza, as the war continues and campuses become the site of bitter protests by pro-Palestinian students and some faculty.


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Donald Trump, Seeking Cash Infusion, Meets With Elon Musk  
  

Donald Trump, Seeking Cash Infusion, Meets With Elon Musk
Mr. Musk has long portrayed himself as independent-minded, and like many business leaders he has donated to candidates from both parties over the years. Unlike other U.S. billionaires, he has not spent heavily on a presidential election, and his donations have been fairly evenly split over the years between Democrats and Republicans. Mr. Musk’s businesses, Tesla and SpaceX, have benefited from federal government contracts and subsidies.


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In California, Senate Battle Has the Most Intrigue  
  

In California, Senate Battle Has the Most Intrigue
Locked in a tight race for second place are Representative Katie Porter, 50, an Orange County Democrat and former law professor known for her takedowns of powerful leaders during congressional hearings; and Steve Garvey, 75, a former first baseman for the Los Angeles Dodgers and the San Diego Padres. He is the only Republican among the leading contenders for the runoff.


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Liberty University Fined $14 Million for Mishandling Sex Assaults and Other Crimes  
  

Liberty University Fined $14 Million for Mishandling Sex Assaults and Other Crimes
In addition to the fine, the university agreed to spend $2 million over two years to maintain a compliance committee and make campus safety improvements. The department said it would monitor the university until April 2026.


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Biden Wins First Eight Contests of an Expected Sweep  
  

Biden Wins First Eight Contests of an Expected Sweep
Reid J. Epstein covers campaigns and elections from Washington. Before joining The Times in 2019, he worked at The Wall Street Journal, Politico, Newsday and The Milwaukee Journal Sentinel. More about Reid J. Epstein


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When Will We Get Results on Super Tuesday?  
  

When Will We Get Results on Super Tuesday?
Alabama, Massachusetts, Maine, Oklahoma and Tennessee close their polls at 8 p.m. Most polls in Texas will also close then, though two counties in the western part of the state are in another time zone and will keep voting for another hour. Don’t expect any Texas race calls from The Associated Press until all the state’s polls are closed.


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Why Trump and Biden Can’t Clinch Nominations on Super Tuesday  
  

Why Trump and Biden Can’t Clinch Nominations on Super Tuesday
Maggie Astor covers politics for The New York Times, focusing on breaking news, policies, campaigns and how underrepresented or marginalized groups are affected by political systems. More about Maggie Astor


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Amid Age Concerns, the White House Tries a New Strategy: Let Joe Be Joe  
  

Amid Age Concerns, the White House Tries a New Strategy: Let Joe Be Joe
To that end, Mr. Biden is expected to frame the age issue to his advantage in highlighting his legislative accomplishments in his State of the Union address on Thursday night. The point he will make, aides say, is that his achievements as president might have eluded less experienced politicians.


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Shafiqah Hudson, Who Fought Trolls on Social Media, Dies at 46  
  

Shafiqah Hudson, Who Fought Trolls on Social Media, Dies at 46
She began to aggregate the trollers’ posts under it, and encouraged others to do so and to block the fake accounts. Her Twitter community took up the mission, including Black feminists and scholars like I’Nasah Crockett, who did some digging of her own and discovered that #EndFathersDay was a hoax, as she told Slate in 2019, organized on 4chan, the dark community of web forums peopled by right-wing hate groups.


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1 Killed as Explosion at Michigan Vape Distributor Sends Canisters Flying  
  

1 Killed as Explosion at Michigan Vape Distributor Sends Canisters Flying
David Storey, a hydraulic technician in Clinton Township, stood about 100 yards away from the blaze with his fiancée and about 15 others with his phone up, recording a percussion of loud booms and burning arcs of fiery canisters, which he said reminded him of fireworks.


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Kyrsten Sinema Bows Out of Arizona Senate Race  
  

Kyrsten Sinema Bows Out of Arizona Senate Race
Senator Steve Daines of Montana, who heads Republicans’ Senate campaign committee, argued that Ms. Sinema’s decision not to run would boost Ms. Lake, who is endorsed by his National Republican Senatorial Committee.


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Why It Takes Longer for California to Count Ballots  
  

Why It Takes Longer for California to Count Ballots
The state also counts ballots that arrive late, as long as they are postmarked with the correct date and arrive within seven days. And while many other states must count ballots within a week, California law allows 30 days.


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In Trump Cases, Supreme Court Cannot Avoid Politics  
  

In Trump Cases, Supreme Court Cannot Avoid Politics
And there were, similarly, no noted dissents last week when that case returned to the court after a unanimous three-judge panel of the appeals court soundly rejected the immunity argument. The Supreme Court, after mulling what to do for more than two weeks, decided to keep Mr. Trump’s trial on hold while it considers the case, scheduling arguments for about seven weeks later and putting the prospect of a trial verdict before the election in grave peril.


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Victoria Nuland, Veteran Russia Hawk, to Leave the State Department  
  

Victoria Nuland, Veteran Russia Hawk, to Leave the State Department
A skilled bureaucratic operator, she delivered her arguments with sharp wit and a bluntness that drew a mixture of admiration and fear from colleagues. “She always speaks her mind,” Mr. Blinken’s statement gently noted.


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Taylor Swift Wants You to Vote Today, Though She’s Not Saying for Whom  
  

Taylor Swift Wants You to Vote Today, Though She’s Not Saying for Whom
Last September, on National Voter Registration Day, Ms. Swift took to Instagram to encourage her followers to register to vote, linking to Vote.org, the same nonprofit organization that she linked to on Tuesday. That earlier post, which came as her “Eras” concert tour was lifting her to untold heights of superstardom, led to a surge of 35,000 registrations, many of them from young voters, the group reported.


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Fewer Voters Think Trump Committed Crimes, Polls Show  
  

Fewer Voters Think Trump Committed Crimes, Polls Show
Mr. Trump’s team was thrilled by the delay in his federal election interference trial, which many of his advisers see as the one with the most potential to be politically damaging. And while they are not looking forward to the prospect of being in court later this month in New York, they are less concerned that the specifics in the case will hurt him with voters, who they think have become inured to reports about his personal behavior.


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Justice Amy Coney Barrett Stakes Out Distinctive Stance in Trump Case  
  

Justice Amy Coney Barrett Stakes Out Distinctive Stance in Trump Case
At first blush, her concurring opinion on Monday was an act of solidarity with the liberal members of the court — and its other three women. Like them, Justice Barrett wrote that the majority had gone too far in the process of ruling that Colorado could not disqualify Mr. Trump from its primary ballot under Section 3 of the 14th Amendment, which bars officials who have sworn to support the Constitution and then engaged in insurrection from holding office.


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Musk's OpenAI lawsuit is 'good advertisement for the benefit of Elon Musk' but may have little legal merit  
  

Musk's OpenAI lawsuit is 'good advertisement for the benefit of Elon Musk' but may have little legal merit
A portion of Musk\'s lawsuit rests on the idea that OpenAI has already reached AGI, typically defined as AI that can operate on the same level — or higher — than humans when completing a wide array of cognitive tasks. The suit claims that since GPT-4 is \"better at reasoning than average humans\" based on test scores on the Uniform Bar Exam, GRE Verbal Assessment and even the Advanced Sommelier exam.


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Some States Will Confront Wet Weather on Super Tuesday  
  

Some States Will Confront Wet Weather on Super Tuesday
Two coastal storms will affect most of the remaining states that have primaries on Tuesday, though, bringing at least a chance of rain to the South and Northeast. A Gulf Coast storm system will bring showers throughout the day in Arkansas and Tennessee. Those showers may turn heavier in Alabama toward the end of the day.


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The Trial of James Crumbley in the Oxford High Killings: What to Know  
  

The Trial of James Crumbley in the Oxford High Killings: What to Know
The authorities said Ethan later fired 30 shots with the handgun in a school hallway, killing Madisyn Baldwin, 17; Tate Myre, 16; Justin Shilling, 17; and Hana St. Juliana, 14. Seven other people were injured.


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Gas Industry Loses Bid To Block Green Building Codes  
  

Gas Industry Loses Bid To Block Green Building Codes
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we\'ll bring you hard-hitting investigations, well-researched analysis and timely takes you can\'t find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.


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