The wild trading involving GameStop shares presents a broader threat to the U.S. equity market, the chief securities regulator in Massachusetts told CNBC on Wednesday. “The marketplace should be a place where risk is taken, but not reckless risk and not a situation that undermines the system, and that’s what we’re looking at here,” Massachusetts
Month: January 2021
European equities fell in early trading on Thursday after Wall Street suffered its worst day since October, as negative signals from corporate earnings and fears over the impact of new coronavirus strains hit investor sentiment. The continent-wide Stoxx 600 index fell 1.7 per cent in morning trading, putting it on track for its worst day
Prudential is to demerge its US business in the second quarter of the year and raise up to $3bn of fresh equity, in a move that will complete the break-up of the 173-year-old life insurer and cement its pivot to Asia. The company, which has been under pressure from activist investor Third Point to split
Federal Reserve Chair Jerome Powell made clear the U.S. central bank was nowhere near exiting massive support for the economy during the ongoing coronavirus pandemic, as officials left their benchmark interest rate unchanged near zero and flagged a moderating U.S. recovery. The central bank’s policy-making body repeated it would maintain its bond-buying program at the
Popular social media network Reddit, which counts over 1.7 billion monthly visits, is deepening its ties with the Ethereum Foundation in what it has formalized as its first-ever blockchain partnership. According to an announcement from Reddit admin u/jarins, the aim of the partnership will be to increase the site’s “commitment to blockchain, accelerating scaling and
For many years, investing in California real estate was a no-brainer. Every year an extra half million people needed housing. And they mainly wanted to live in San Francisco or Los Angeles, places that are already full; rents and home prices surged, investors couldn’t miss. Aerial view of the Pacific Heights neighborhood of San Francisco,
A real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Sharp gains in home prices and a slight rise in interest rates combined to weaken demand for mortgages last week. Total mortgage application volume fell 4.1% from the previous
A U.S. cryptocurrency miner installed a mining rig in a particular place with the motivation to “annoy gamers.” Simon Byrne installed the full infrastructure in the back of his BMW i8 hybrid car. Miner Is Trying to Create a ‘Crypto Utopia’ According to PC Gamer, Byrne fit six Nvidia RTX 3080s graphic cards into the
Couple at kitchen table with calculator and financial statements. Koldunov Are you thinking of retiring soon? If you are, it’s crucial to plan for this next phase. It may be tempting to say, “I’am sick of working for ‘the man.’ ” But before taking a big step, be sure you’re heading toward something you desire,
Moody’s Investors Service has revamped the way it rates K-12 school districts, which is likely to bring rating changes to hundreds of school districts across the country. When it announced its new rating methodology Tuesday, Moody’s placed 637 of the roughly 3,400 school districts it rates on review for upgrade or downgrade, affecting $65 billion
Gold price on Thursday fell to Rs 49,000 per 10 gm after remaining unchanged at Rs 49,330 for two straight days. Silver price also fell by Rs 300 to trend at Rs 66,200 per kg, according to the Good Returns website. Gold jewellery price varies across India, the second-largest consumer of the metal, due to
The global gold reserve is limited, and it is noteworthy that Africa is holding a significant quantity of this precious metal. Statistics show that… by Michael Kuchar In this post, we will show you 5 African countries with the richest gold mines. With a worth of over $2,000 per ounce, Gold remains one of the
Plug Power (PLUG) shares have kicked off 2021 with a bang, rising nearly 90% since the turn of the year. The PLUG narrative is benefiting from favorable macro conditions; A new U.S. administration intent on forwarding the case for clean energy is acting as a strong catalyst, driving positive investor sentiment toward the stock. Adding
A worker wearing a protective face mask operates a forklift to move boxes of face shields ready for shipment at the Cartamundi-owned Hasbro manufacturing facility in East Longmeadow, Massachusetts, April 29, 2020. Adam Glanzman | Bloomberg | Getty Images The economy continued to chug along in the fourth quarter, boosted by a surge in business
by Kimble Charting Economically sensitive stocks have frequently sent an important message to the S&P 500. Is it possible that the largest bearish reversal pattern in 20-years could be sending an important message? This chart looks at U.S. Steel (X) on a monthly basis over the past 20-years. Since the 2008 highs, “X” has created a series of
The United States Department of the Treasury is a Cabinet-level agency of the federal government. It is responsible for crucial functions that help keep the government running, including paying all U.S. bills, collecting taxes, and managing federal finances. Another important role that the Department of the Treasury performs is overseeing national banks, which includes the
A customer holds a GameStop shopping bag inside a store in San Francisco. David Paul Morris | Bloomberg | Getty Images Wall Street has been watching GameStop in awe as a band of Reddit-obsessed retail investors managed to push the stock up 1,500% in two weeks, squeezing out short-selling hedge funds. A wave of at-home
A sober Jay Powell on Wednesday delivered a message that spooked markets while serving an important purpose. The chairman of the Federal Reserve said the US recovery from the deep downturn inflicted by the pandemic had slowed due to a resurgence of the virus and a return to normal was still far away for the
After a two-day meeting on Wednesday, its first since Joe Biden replaced Donald Trump in the White House, the Federal Reserve held its main interest rate close to zero and its asset purchases steady as it sought to maintain a massive dose of support for the US economy as it suffers through a new slowdown.
With technology companies leading the way, the industry conference circuit is set to return after coronavirus shuttered such events in 2020. Orion Advisor Solutions and Riskalyze unveiled plans to host conferences later this year for 1,200 and 700 attendees, respectively. Executives at both companies say there is pent-up demand for networking opportunities that just can’t
Australia’s eSafety Commissioner Julie Inman Grant has suggested a blockchain-powered ID solution could help tackle cyber abuse and trolling while allowing users to maintain a level of anonymity. Speaking to New South Whales media outlet The Sydney Morning Herald, Grant said that while anonymity was beneficial for general online use, people hiding behind anonymity online
A colorful pied-é-terre on the Upper East Side of Manhattan. Ted Porter Architecture | Ty Cole Photographer It’s a true artist’s loft in every sense. And no wonder. The Upper East Side co-op apartment has been the beneficiary of a collaboration of creative minds: architect Ted Porter and owner Lorenza Panero, a multidisciplinary Bogotá-based artist
The Federal Reserve said Wednesday it would keep its benchmark interest rate near zero until the economic recovery gains ground. As the federal government rolls out a mass vaccination plan and weighs additional stimulus in the midst of the coronavirus crisis, the central bank is keeping its commitment to help everyday Americans through the pandemic. That means rock-bottom rates will
The American Cancer Society has set up a fund for crypto donations so the nonprofit can raise at least $1 million by early 2021. Together with The Giving Block, the U.S.-based voluntary health organization expects to collect funds via several cryptocurrencies. Donations to Fund Cancer-Related Research Plummeted 50% in 2020 According to the announcement, the
Click here to read the previous part of this article. A review of the tax principles used herein is also in order. Investments are made in Jerry’s tax-deferred 401(k) plan. This means that taxes are not paid initially on the plan contributions, but any withdrawals from the plan will be subject to ordinary income tax
Illinois avoided the grim, early COVID-19 tax loss warnings as a recovery began quicker than expected thanks to federal stimulus and changes in consumer spending, a University of Illinois pandemic task force found. The net effect of revenue losses from the pandemic through November totaled $801 million for the state’s “big three” sources: personal and
The global stock markets have weakened this Wednesday; Wall Street’s three main indexes extended correction from the recent highs but remain in a bull market. Silver price remains supported by uncertainty over the global economic future, but it cannot stabilize above $26 resistance. Fundamental analysis: Silver price should continue to rise according to analysts Financial
Not only have Gold Eagle sales in the first three weeks of January surpassed last year’s total by a factor of three, but it’s also… by Steve St Angelo of SRSrocco Report Something BIG just happened in the U.S. Mint Gold Eagle Market this month. Not only have Gold Eagle sales in the first three
Struggling retailer? Check. High short interest? Check. Soaring share price? Why, of course. Bed Bath & Beyond (BBBY) is displaying all the characteristics of a high-flying name in January 2021’s wacked stock market. BBBY shares are up by 198% year-to-date, driven by… well, not much really. Which is why Raymond James analyst Bobby Griffin has
Facebook’s logo displayed on a phone screen and keyboard. Jakub Porzycki | NurPhoto via Getty Images Check out the companies making headlines after the bell: Facebook — Shares of the social media giant was down more than 4% in after hours trading on Wednesday following its quarterly results. Earnings came in at $3.88 per share,
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