S&P 500
Charles Schwab plans S&P 500 prediction market launch
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Charles Schwab is partnering with Cboe Global Markets to offer yes-or-no options contracts on the S&P 500. The move marks the brokerage's entry into prediction markets, with rollout expected in the coming months.
The S&P 500 and Nasdaq closed at record highs on Friday, driven by strong corporate earnings and declining crude oil prices. The indices notched their longest weekly gain streak since October 2024 amid an earnings-heavy week.
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Bitcoin has fallen 30% from its all-time high, prompting financial advisers to anticipate increased tax-loss harvesting in digital assets this year. With the cryptocurrency down 5% year-to-date while the S&P 500 has risen 18%, investors face incentives to sell losing crypto positions to offset stock gains before the December 31 deadline.