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Crypto

Bitcoin investment spreads to U.S. politics as BlackRock IBIT purchase filing draws attention

U.S. Republican Representative Sheri Biggs disclosed that her spouse bought about $250,000 of BlackRock’s spot bitcoin ETF, IBIT, in a March 4 trade. A filing submitted to the House clerk showed the purchase ranged from $100,001 to $250,000 and was made through a professionally managed spouse account at UBS Financial Services. The disclosure comes as the Senate considers bitcoin-related legislation, including a proposal for the Treasury to buy 1 million bitcoins over five years.

General News

Tesla surges nearly 8 percent as S&P 500, Nasdaq close at record highs on hopes of easing Middle East risk

U.S. stocks rose across the board on expectations that Middle East risks could ease, pushing major indexes to fresh records. The S&P 500 ended up 0.8 percent at 7,022.95 and the Nasdaq gained 1.59 percent to 24,016.02, while the Dow slipped 72.27 points. Technology shares led, and Tesla jumped 7.95 percent to $391.95 after CEO Elon Musk said the AI5 chip reached a key engineering milestone.

AI & Enterprise

UBS downgrades ServiceNow to neutral, citing wavering confidence in AI-era advantage

UBS on Thursday downgraded enterprise software company ServiceNow to neutral from buy and cut its price target to $100 from $170. Analyst Karl Keirstead said UBS had kept ServiceNow as its only buy-rated application software stock on the view it was better positioned than rivals in the AI era, but that conviction has weakened and instances of non-AI software budget pressure are increasing. UBS also flagged three specific concerns raised in customer discussions.