Tag: stock market

Quantum Stocks Erupt As U.S. Gov’t Awards $2 Billion, Takes Equity Stakes

IBM and small-cap quantum names, including IonQ, D-Wave Quantum, Rigetti Computing, Infleqtion, and other peers, are surging in New York premarket trading after a Wall Street Journal report said the Trump administration is preparing to award $2 billion in CHIPS Act grants to nine quantum-computing companies.

IBM is set to receive half of the $2 billion tranche, or about $1 billion, as the large-cap leader in the race to build quantum computing systems that could revolutionize national security, accelerate scientific discovery, and deliver a range of other economic benefits.

WSJ, citing the Commerce Department, outlined the companies expected to receive funding from the 2022 Chips and Science Act:

The department has agreed to give $1 billion of the package to IBM, a leader in the race to build computers that use quantum mechanics to solve problems much faster than traditional supercomputers.

. . .

IBM and other companies are working to develop specialized chips for quantum computing, a focus for the government in its bid to spur domestic supply chains. Chip maker GlobalFoundries is receiving $375 million in funding.

The rest of the firms are expected to receive $100 million, except for startup Diraq, which is slated to get $38 million.

A slew of companies pursuing various approaches to quantum are slated to be awarded funds, including publicly traded firms D-Wave Quantum, Rigetti Computing and Infleqtion.

Commerce Secretary Howard Lutnick’s strategy of using federal funding in exchange for equity stakes will also apply to the quantum computing companies listed above. This is similar to a series of other deals, especially in the rare earths space, including rare-earth magnet maker Vulcan Elements and mining company MP Materials.

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We Voted for Trump. We Got a Kamala Harris DOJ. The Michael Castillero Case Exposes That Little Has Changed at the SDNY — and Todd Blanche Either Doesn’t Know or Doesn’t Care

The Trump DOJ is suppressing free speech.

Michael Castillero ran a pre-IPO investment fund. He was charged with allegedly charging extra fees that he did not disclose to his investors. The evidence showed and the judge acknowledged that the investors made money and “sustained no out-of-pocket losses.” But he’s going to prison because they would have made even more money had Castillero disclosed the fees.

This is the case that the Biden-era Southern District of New York (SDNY) chose to bring criminal charges over. Not a civil suit. A federal criminal prosecution — with guns drawn, assets seized, and a man’s family left in financial ruin. For a fee dispute, Michael Castillero will go to prison.

But it gets even worse. The DOJ is asking the judge for additional prison time because Castille suggested that he is a victim of politically motivated weaponization.

The Prosecution That Trump’s DOJ Inherited and Chose to Continue

Castillero was indicted in 2023 under the Biden administration. He is a Trump donor. He posted memes about the stolen election. He dined at Mar-a-Lago. He frequented Trump properties and was at the announcement when Trump said he was running again. He believed — as tens of millions of Americans believed — that the 2020 election was stolen from Donald Trump. The prosecution continued past President Trump’s inauguration. Castillero was convicted by a New York jury – like President Trump – and is now awaiting sentencing.

After his conviction but before his sentencing, Castillero went on podcasts and tried to tell his side of the story. He suggested that his prosecution was motivated by political weaponization. The SDNY says that is a lie. But they don’t simply deny it in a press release. SDNY went to the judge and demanded that he be punished for even suggesting that the SDNY engages in weaponization.

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Target Hospitality Jumps As Data Center Boom Fuels Demand For Worker Camps

Target Hospitality shares jumped in premarket trading after the company announced a new contract to provide mobile housing solutions and related hospitality services for workers at data center construction projects.

The 48-month contract could generate upward of $750 million in revenue for Target Hospitality, which builds, owns, leases, and operates large temporary or semi-permanent “communities” for workers of major projects. The contract covers 3,370 beds.

Historically, Target Hospitality generated revenue from energy, natural resources, and government-related customers, but since the data center buildout boom, its temporary housing solution services have been in high demand.

The company said that since the start of the year, it has announced over $1.4 billion in multi-year contracts amid data center buildouts, representing more than 9,000 beds.

“These awards reinforce the scale, customer relevance and capital-efficient deployment capabilities of Target Hyper/Scale, while strengthening Target’s exposure to long-duration demand across AI-driven data center and related critical infrastructure development,” the company wrote in a press release.

CEO Brad Archer wrote in a statement that the company is “entering the next phase of our growth with strong momentum and increasing confidence in our long‑term strategy. Since February 2025, we have secured more than $2.0 billion of multi‑year contracts, including approximately $1.8 billion within our rapidly expanding WHS segment, meaningfully enhancing revenue visibility, supporting consistent cash flows and driving improved margin contributions. These wins position Target to further expand its presence across high-value end markets with long-term momentum.”

In premarket trading, Target Hospitality is up nearly 10%. On the year, the stock has surged 91%, as of Friday’s close.

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Oil trader pockets reported $125 mn on suspiciously well-timed Iran bet – media

A massive crude oil bet placed shortly before reports of a possible US-Iran peace deal sent prices crashing and fueled suspicion of insider trading, after the position reportedly generated a $125 million profit in just over an hour.

According to market commentary platform the Kobeissi Letter, nearly 10,000 crude oil short contracts were placed around 3:40 AM (07:40 GMT) on Wednesday “without any major news,” describing the roughly $920 million position as unusually large for that time of day.

At 4:50 AM, Axios reported that Washington and Tehran were nearing an agreement to end the conflict and resume negotiations. Oil prices plunged more than 12% within two hours of the report, turning the short position into an estimated $125 million profit before the price later rebounded, the platform said.

During the US-Israeli war against Iran, prediction and traditional financial markets were flooded with suspiciously well-timed bets linked to airstrikes, ceasefire announcements, and diplomatic developments.

According to The Guardian, traders placed more than $1 billion in seemingly prescient wagers, including an $850,000 bet shortly before US strikes against Iran and around $950 million in oil futures hours before Trump announced a ceasefire in April. AP reported that the ceasefire announcement alone generated more than 413 million predictions and over $100 million in wagers across prediction markets within days.

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DOJ Investigating Suspicious Iran War Oil Trading Trend: Report

Ups and downs in the war with Iran may have been an opportunity for insiders betting on oil prices to make a killing, according to a new report.

The report from ABC News said the Department of Justice is taking a close look at several oil market trades that came just before critical moments in the war with Iran.

In four transactions under review, the Justice Department and the Commodity Futures Trading Commission are examining trades that netted more than $2.6 billion to individuals who bet oil prices would drop immediately before they did so.

From the start of the conflict on Feb. 28, the oil market has been up and down depending upon Iran’s strategy, America’s response, and expectations that oil might again flow freely.

The London Stock Exchange Group highlighted the trades, which began on March 23, when 15 minutes before President Donald Trump announced a delay on attacks against Iranian infrastructure, a $500 million bet was placed that oil prices would dip.

On April 7, only hours ahead of Trump’s announcement of a temporary halt in hostilities, a $960 million bet was placed that oil prices would fall.

On April 17, 20 minutes before Iran said the Strait of Hormuz would be opened, a $760 million bet was placed that oil prices were going to drop.

On April 21, 15 minutes before the ceasefire was extended, $430 million worth of bets was placed predicting oil prices were going down.

The Guardian noted last month that the conflict has been accompanied by unprecedented betting on events through online betting platforms, with many bets being precisely timed to events in the war.

For example, according to one complaint before the Commodity Futures Trading Commission, six so-called insiders reaped $1.2 million from betting when former Iranian Supreme Leader Ali Khamenei would be killed.

Reining this in through legislation is a complex task, if it can be done at all, one expert said.

“Is the problem that we don’t have legislation or that we don’t have enforcement capabilities?” Joshua Mitts, a law professor at Columbia University, said.

“To have a law that can’t really be enforced effectively given the technological limitations, it’s sort of putting the cart before the horse,” he said.

The oil price bets appear suspicious, another expert said.

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Prediction Market Suspends and Fines Two Democrats and One GOP Candidate Over Insider Trading

These political candidates got caught red-handed.

Prediction market Kalshi announced in a press release that two Democrat candidates and one Republican candidate have been suspended and fined after engaging in insider trading on the platform.

According to the press release, the political candidates placed prediction trades on the outcomes of their own elections.

NBC News reported that Mark Moran, a Democrat running for a U.S. Senate seat in Virginia, Matt Klein, a Democrat running for Minnesota’s 2nd Congressional District, and Republican Ezekiel Enriquez, who previously ran in the Republican primary for Texas’ 21st Congressional District, have all been fined and suspended by Kalshi.

Per NBC News:

Prediction market Kalshi said Wednesday that it had fined and suspended three political candidates for trading on their own races during primary campaigns.

“Just like in traditional financial markets, bad actors will try to cheat,” Kalshi said in a statement. “These three cases are an example of how developing proactive engineering solutions can help identify illicit trading activity.”

Kalshi described the actions taken by the politicians as “political insider trading.”

The fines ranged from $539 to more than $6,200, while the suspensions from Kalshi are set to last five years.

The candidates include Matt Klein, who is running in the Democratic primary for Minnesota’s 2nd Congressional District; Ezekiel Enriquez, who ran in the Republican primary for Texas’ 21st Congressional District; and Mark Moran, who is running in the Democratic primary for a U.S. Senate seat in Virginia.

Previously, Kalshi did not fine or suspend candidates betting on their own campaigns, but after Sen. Adam Schiff, D-Calif., and Sen. John Curtis, R-Utah, introduced the “Prediction Markets are Gambling Act,” the company reversed course.

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White House Warns Staff Against Insider Trading Using Iran War Information

As recent geopolitical events shake financial markets, some traders are making risky bets to profit from the volatility.

In an email on March 24, the White House warned staff not to trade or place bets related to the U.S. war in Iran, including on prediction markets.

The warning aimed to prevent any misuse of confidential information, the White House told The Epoch Times.

“President [Donald] Trump has been crystal clear: while he seeks a strong and profitable stock market for everyone, members of Congress and other government officials should be prohibited from using nonpublic information for financial benefit,” Davis Ingle, White House spokesman, said in an email.

The warning was in line with government ethics guidelines that prohibit the use of nonpublic information for trading activity, he said.

Ingles added that “any implication that administration officials are engaged in such activity without evidence is baseless and irresponsible reporting.”

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US stock markets fall, oil soars as Trump promises to bomb Iran ‘back to the stone age’

The value of US stock markets fell, while the price of oil soared in early trading on 2 April following US President Donald Trump’s speech in which he vowed to bomb Iran “back to the Stone Age.”

The president said on Wednesday evening from the White House that the US would continue its bombing campaign on Iran “until our objectives are fully achieved,” suggesting the war will last longer than expected.

“I can say tonight that we are on track to complete all of America’s military objectives shortly, very shortly. We’re going to hit them extremely hard over the next two to three weeks – we’re going to bring them back to the Stone Age, where they belong,” Trump vowed.

The Dow Jones Industrial Average fell some 1.3 percent when the US stock market opened the following morning. The S&P 500 index was also down 1.3 percent, while the Nasdaq composite was down 1.7 percent. Much of the losses were recovered over the course of the trading day.

Oil prices rose sharply and remained high throughout the day. The price of US crude rose to $113 – a 13 percent gain.

Brent crude, the international baseline, rose more than eight percent, to $109 per barrel.

US stock markets rallied, and the price of oil fell to start the week, after Trump stated on Sunday he was having “serious discussions” with a “new and more reasonable regime in Tehran.”

But the price of oil has risen following Trump’s remarks, which underscored that the war will not end soon and the Strait of Hormuz will remain closed indefinitely.

Since the US and Israel launched a war on Iran on 28 February, the strategic waterway has effectively remained closed due to the threat of Iranian attacks and soaring insurance premiums for vessels wishing to transit it.

Energy prices have since skyrocketed, as Gulf oil exports through the strait have ground to a halt.

During his Wednesday address, Trump expressed no urgency in opening Hormuz, instead criticizing European nations suffering from fuel shortages for refusing to send their own warships to reopen it.

“To those countries that can’t get fuel – many of which refused to get involved in the decapitation of Iran, we had to do it ourselves – I have a suggestion,” he said.

“Number one, buy oil from the United States of America; we have plenty. We have so much. And number two, build up some delayed courage … Go to the strait and just take it. Protect it. Use it for yourselves. Iran has been essentially decimated. The hard part is done.”

Trump claimed that Hormuz would likely “just open up naturally” at the close of the war.

He called rising gas prices in the US a “short-term” matter, while claiming “the United States has never been better prepared economically to confront this threat.”

Regarding Trump’s threats, Esmail Baghaei, spokesperson for Iran’s Foreign Ministry, said Thursday that Tehran has “no choice but to fight back strongly.”

“We will not tolerate this vicious cycle of war, negotiations, ceasefire, and then repeating the same pattern,” he said in a statement reported by state media. “This is catastrophic not only for Iran, but for the entire region and beyond.”

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$580 million in oil bets placed moments before Trump’s Iran post – FT 

Oil traders placed more than half a billion dollars in bets minutes before US President Donald Trump announced “productive” talks with Iran on Monday, the Financial Times has reported.

A burst of activity followed by a sharp price drop has raised questions about possible advance knowledge among market participants.

About 6,200 Brent and WTI futures contracts changed hands between 6:49 AM and 6:50 AM in New York – a one-minute flurry worth $580 million, based on FT calculations using Bloomberg data. Volumes in both benchmarks – Brent and US West Texas Intermediate – spiked simultaneously, about 27 seconds before 6:50 AM, while S&P 500 futures surged shortly after.

The trades came roughly 15 minutes before Trump said on Truth Social there had been “productive conversations” with Tehran to end the war in Iran.

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Pelosi Loses It – Starts Chomping Her Dentures After Trump Calls Her Out for Insider Trading

Former Speaker Nancy Pelosi was caught on camera playing with her dentures on Tuesday after President Trump called her out for insider trading during his SOTU Address.

President Trump roasted Democrats during his State of the Union Address for standing up against insider trading.

Trump called out crooked Nancy Pelosi: “Did Nancy Pelosi stand up for this?

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