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Will Buffett's 'put' on oil firm Occidental halt share drop?

Shares in U.S. oil producer Occidental Petroleum fell to $56.17 on Tuesday, below a level that has routinely triggered purchases by its biggest holder, billionaire investor Warren Buffett's Berkshire Hathaway. Past multimillion-share purchases were so routinely timed to drops below $60 that Wall Street analysts called it "the Berkshire put," for setting a price floor on the oil firm's shares. But Occidental has traded below that price all month, the longest period since a swoon in January that ended after Berkshire acquired 4.3 million shares in early February.

Bond-Market Pros Are Unimpressed With Baby Whales From Crypto

(Bloomberg) -- They are turning into the strangest of bedfellows in the financial world: The famously safe securities issued by the US Treasury and the notoriously not-so-safe world of cryptocurrencies.Most Read from BloombergThe Serious Work That Free Play Can DoIssuers of crypto stablecoins meant to track the dollar one-for-one have become noticeable players in the Treasury market as they seek the safest and most-liquid assets to back the value of their tokens. For crypto promoters, it’s a dev

Wall St eyes higher open with payrolls revisions, Fed minutes on tap

(Reuters) -Wall Street's main indexes were set for a higher open on Wednesday, as investors awaited the release of the updated U.S. payrolls data and the minutes from the Federal Reserve's July policy meeting. The report from the Bureau of Labor Statistics, with preliminary revisions to the jobs data, is due at 10:00 a.m. ET. Most economists expect a downward revision, with Goldman Sachs estimating that 600,000 to 1 million fewer jobs were created between April 2023 and March 2024.