Finance

The Nasdaq’s slump may be just starting. Fundstrat Global Advisors’ Tom Lee sees a major market shift underway in which Big Tech starts to greatly underperform economically sensitive stocks. So, he’s telling investors to double down on epicenter trades, which are positioned to profit as the economy reopens. “A lot of these companies that were

Square‘s Cash App platform saw a surge in first-time bitcoin buyers last month, CFO Amrita Ahuja told CNBC on Wednesday. “We had 3 million people transact in bitcoin through Cash App in 2020 and 1 million who were new to bitcoin in January [2021],” Ahuja said on “Squawk Alley,” just a day after her company

People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018.  Jason Lee | Reuters BEIJING — The southwestern Chinese city of Chengdu announced Tuesday it will hand out roughly $6 million in the latest test of the central bank’s digital currency. The scale of

Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase on Tuesday announced its latest round of initiatives to support banks and credit unions that are primarily owned or directed by people of color, as well as banking institutions that work with underserved communities. It’s part

HSBC building in the Canary Wharf district of London, U.K. Leon Neal | AFP | Getty Images HSBC is due to report financial results for 2020 on Tuesday, during which the bank is expected to update investors on its business restructuring plans and whether it would resume dividend payments. Like many of its peers globally,

Bitcoin soared on Tuesday to an all-time high reaching the $50,000 milestone at $50.602. Alain Pitton | NurPhoto | Getty Images Bitcoin slid Monday, pausing its stunning rally after Elon Musk said prices “seem high.” The world’s most valuable cryptocurrency sank over 10% to a price of $51,993 Monday morning, according to data from Coin

Chinese Foreign Minister Wang Yi speaks at a news conference after restoring diplomatic ties with Kiribati on the sidelines of the United Nations General Assembly in New York, U.S. September 27, 2019. Mark Kauzlarich | Reuters BEIJING — China’s Foreign Minister Wang Yi on Monday called on the new U.S. administration to stop the “suppression”

An activist wears a “Fight For $15” T-shirt at a news conference prior to a vote on the Raise the Wage Act, July 18, 2019 at the U.S. Capitol. Alex Wong | Getty Images A $15 minimum wage could become a reality in the U.S. While millions would get a pay boost from a higher

A worker repairs a power line in Austin, Texas, U.S., on Wednesday, Feb. 18, 2021. Thomas Ryan Allison | Bloomberg | Getty Images The Electric Reliability Council of Texas, which is known as ERCOT and controls the majority of the state’s power, said it plans to come out of emergency conditions on Friday as power

Samuel Corum/Bloomberg via Getty Images Many Americans will get an unwelcome surprise this tax season: the realization they were victims of unemployment fraud. Millions of workers have collected jobless benefits during the Covid pandemic. They must pay taxes on that aid. But criminals have stolen identities en masse to collect benefits in others’ names, according

New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape. With stocks pushing to new heights on valuations not seen in decades, and as corporate bond yields plunge, the central bank official said he’s not

The logo of U.S. software company Palantir Technologies is seen in Davos, Switzerland Januar 22, 2020. Arnd Wiegmann | Reuters Check out the companies making headlines in midday trading.  Applied Materials — Shares of the chipmaker jumped more than 7% after Applied Materials beat estimates during the fourth quarter and issued upbeat comments for the

The second dose of Covid-19 vaccine is crucial in creating longer and complete immunity as well as preventing variants of the virus, according to Dr. Paul Offit, director of the Vaccine Education Center at Children’s Hospital of Philadelphia. “We need to know that this is a two-dose vaccine, period,” Offit told CNBC’s “The News with Shepard

A worker wearing a protective mask arranges shopping carts outside a Walmart store in Duarte, California, U.S., on Thursday, Nov. 12, 2020. David Swanson | Bloomberg | Getty Images Check out the companies making headlines in midday trading.  Walmart — Shares of the big box retailer dropped more than 5% after disappointing quarterly earnings. Walmart

The GameStop Corp. logo on a laptop computer and Robinhood application on a smartphone. Tiffany Hagler-Geard | Bloomberg | Getty Images Rep. Ro Khanna, Silicon Valley’s lawmaker in Congress, on Thursday proposed a bill aimed at bulking up the Internal Revenue Service’s enforcement tools and ability to crack down on tax evasion. The legislation, if

A man walks past a Wells Fargo Bank branch on a rainy morning in Washington. Gary Cameron | Reuters Check out the companies making headlines in midday trading. Wells Fargo — The bank stock jumped more than 5% after Bloomberg News reported that Fed officials had signaled to Wells Fargo that they would approve its

U.S. stock index futures were little changed in overnight trading on Tuesday after the Dow closed at a record high. Futures contracts tied to the Dow Jones Industrial Average gained 11 points. S&P futures were unchanged, while Nasdaq 100 futures slid 0.13%. The move comes after the Dow closed at a record high during regular

Evor-Lite site. Source: Eavor Technologies Canada-based geothermal company Eavor Technologies on Tuesday announced a $40 million funding round that included participation from BP Ventures and Chevron Technology Ventures as big oil companies increase investments in renewable energy. Geothermal power is renewable energy produced from underground heat. The U.S. Department of Energy calls geothermal a “vital

Pedestrians walk in snow past the Wall Street subway station near the New York Stock Exchange. Michael Nagle | Bloomberg | Getty Images Futures contracts tied to the major U.S. stock indexes rose at the start of extended trading Monday evening after finishing strong last week. Dow futures rose 180 points, suggested an implied open

Neil Woodford, Woodford Investment Management. Woodford Investment Management LONDON — Neil Woodford, the former U.K. star stockpicker whose investment firm collapsed in 2019, has said “sorry” to investors as he shared plans to make a comeback with a new business.  Woodford said in an interview with The Telegraph, published Saturday, that he was “very sorry

Fourth generation cattle rancher Loren Poncia has made Stemple Creek Ranch carbon positive. He’s implemented rotational cattle grazing systems that allow soil and grass to recover, applied compost on pastures and planted worm farms and chicory that aerate the soil. Courtesy of Paige Green President Joe Biden has called on U.S. farmers to lead the

A visitor wearing a mask walks outside the Shanghai Disney Resort, that will be closed during the Chinese Lunar New Year holiday following the outbreak of a new coronavirus, in Shanghai, China January 24, 2020. Aly Song | Reuters Check out the companies making headlines in midday trading.  Walt Disney Company — Shares of the

The New York Stock Exchange welcomes Desktop Metal Inc. (NYSE: DM), today, Thursday, December 10, 2020, in celebration of its listing. To honor the occasion, Ric Fulop, Co-Founder and CEO, rings The Opening Bell®. NYSE Roger Lee of Battery Ventures says that “SPAC” used to be a “bad four-letter word” in Silicon Valley. Now, the

Luis Alvarez The GameStop bubble has come and gone but the rookie investors who speak emoji and Reddit may be here to stay with big implications for brokerage firms, as well as traditional investors who must pay closer attention to where this fast-moving, smartphone app-wielding crowd is moving next. “We believe some of the new

Senator Amy Klobuchar speaks at the Democratic 2020 U.S. presidential candidates debate at Saint Anselm College in Manchester, New Hampshire, U.S., February 7, 2020. Brian Snyder | Reuters There is growing hostility to mergers and acquisitions (M&A) among an increasing number of policymakers in Washington, D.C. Last year, some in Congress called for a merger

Take a look at some of the biggest movers in the premarket: Walt Disney (DIS) – Disney reported quarterly profit of 32 cents per share, surprising analysts who had expected a loss of 41 cents per share. Disney saw a not-unexpected slump in theme park attendance and box office results due to Covid, but the

Traders work on the floor of the New York Stock Exchange. NYSE Futures tied to major U.S. equity benchmarks were flat in overnight trading on Thursday as Wall Street looked set to wrap up the week with modest gains. Dow Jones Industrial Average futures dipped 27 points. S&P 500 futures and Nasdaq 100 futures both

Uber CEO Dara Khosrowshahi told CNBC on Thursday the company discussed but “quickly dismissed” the idea of buying bitcoin with corporate cash like Telsa. However, Khosrowshahi said Uber would consider accepting cryptocurrencies as payment. The comments come after Tesla announced earlier this week that it bought $1.5 billion worth of bitcoin with some cash on

A popular spot targeted by retail investors may deliver the year’s biggest gains. Wells Fargo Securities’ Chris Harvey said he believes the affinity for small caps has merit because growth stocks have gotten so expensive. “Retail is very influential,” the firm’s head of equity strategy told CNBC’s “Trading Nation“ on Wednesday. “They’re becoming a bigger part

The red hot SPAC market is getting even hotter in 2021, raising concerns about rampant speculation detached from reason that could leave retail investors fresh off the GameStop bust holding the bag. Not only are special purpose acquisition companies raising a record level of capital — more than $30 billion so far for its biggest