Traders on the floor of the New York Stock Exchange. Source: The New York Stock Exchange U.S. stock futures moved lower in overnight trading on Thursday, as Wall Street’s volatile week continued. Dow futures fell about 40 points. S&P 500 futures dropped 0.2% and Nasdaq 100 futures lost 0.15%. On Thursday, the Dow Jones Industrial
Month: January 2021
New York Gov. Andrew Cuomo Lev Radin/Pacific Press/LightRocket via Getty Images “Tax the rich” policies being weighed in some statehouses to cover Covid-era budget shortfalls may make more sense in the current economy. Inequality has been a hallmark of the pandemic recovery, marked by job loss for those at the bottom and soaring wealth for
Robinhood CEO Vlad Tenev said Robinhood’s move to stop trading in certain speculative names was in the best interest of the company and its millions of users. “In order to protect the firm and protect our customers we had to limit buying in these stocks,” Tenev told CNBC’s Andrew Ross Sorkin Thursday evening. “Robinhood is
Digital Vision | Photodisc | Getty Images If you tied the knot last year, it may be worthwhile checking what your new status will mean for your 2020 taxes. While many couples see their tax bill drop post-nuptials, some face a “marriage penalty” — that is, paying more in taxes than if they had remained
Economic Security Planning, Inc. Today’s column addresses questions about spousal benefit rates after taking early retirement benefits, when the Windfall Elimination Provision (WEP) reductions are applied and potential filing options after a divorce. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets
Robinhood’s halting of trading of certain stocks has many users reconsidering whether it’s the right platform to hold their cryptocurrency. Some users have considered moving their crypto assets to other platforms, only to realize that Robinhood does not allow cryptocurrency withdrawals. This leaves Robinhood crypto users stuck between a rock and a hard place. If
The coronavirus pandemic has pushed millions of Americans, especially young adults, to move in with … [+] family members. getty Saving for a down payment is one of the biggest barriers to homeownership. But for the record number of young adults who moved back home during the pandemic and are fortunate to still have a job, homeownership
Dr. Sonia Macieiewski (R) and Dr. Nita Patel, Director of Antibody discovery and Vaccine development, look at a sample of a respiratory virus at Novavax labs in Rockville, Maryland on March 20, 2020, one of the labs developing a vaccine for the coronavirus, COVID-19. Andrew Caballero-Reynolds | AFP | Getty Images Biotech firm Novavax said
NBCUniversal kicks off it’s new Peacock streaming service. Todd Williamson | Peacock | NBCUniversal | Getty Images Comcast is set to report fiscal fourth-quarter earnings before-the-bell on Thursday. Here are the key numbers Wall Street is expecting: Earnings per share: 48 cents expected, according to Refinitiv survey of analysts. Revenue: $26.78 billion expected, according to
Sen. Elizabeth Warren, D-Mass. Tom Williams | CQ-Roll Call, Inc. | Getty Images Sen. Elizabeth Warren lambasted the Securities and Exchange Commission on Thursday, blaming the regulator and its failure to act for a chaotic dayslong blitz of market speculation. “We need an SEC that has clear rules about market manipulation and then has the
To defy Wall Street hedge funds and the stocks they bet against, a group of retail investors on Reddit forum r/WallStreetBets rallied together to help drive the stock price of GameStop, AMC Entertainmentand BlackBerry, to name a few. Many traditional investors are concerned by the speculative trading, but billionaire Mark Cuban is not one of
New York University finance professor Aswath Damodaran told CNBC on Thursday the trading frenzy in GameStop and AMC Entertainment shares do not change the companies’ fundamental problems and calls into question the long-term strategy for online investors who sparked the short squeeze in the stocks. Known as the “Dean of Valuation” for his company analyses, Damodaran
Paul Weaver/SOPA Images/LightRocket via Getty Images Investors gawking at hefty returns from GameStop stock may be in for a surprise: a big tax bill. GameStop stock has swelled more than 1,700% since the start of the year through Wednesday’s close. It rallied 130% on Wednesday to almost $348 a share. The video-game retailer’s stock cost
getty Are you a parent or grandparent who wants to make a financial gift to a minor child? Do you want to help fund a child’s education but aren’t sure if that’s the path they’ll take? Do you want to give your children a financial head start in life so that one day they can
Green’s 2021 Trader Tax Guide GreenTraderTax Green’s 2021 Trader Tax Guide covers the 2017 Tax Cuts and Jobs Act (TCJA) and the 2020 Coronavirus Aid, Relief, and Economic Security (CARES) Act’s impact on investors, traders, and investment managers. The highlights of this year’s guide are included below. TAX CUTS AND JOBS ACT Tax Cuts and Jobs
Masayoshi Son, chairman and CEO of SoftBank Group, pictured this month. (Photo by Alessandro Di Ciommo/NurPhoto via Getty Images) NurPhoto via Getty Images If all else fails, there is always a SPAC. WeWork, the coworking business that attempted—and failed—to go public in 2019, could soon reach that milestone via a special purpose acquisition company, according
An AstraZeneca vaccine production line. Bloomberg | Bloomberg | Getty Images The European Union has suggested that drugmaker AstraZeneca divert supplies of its coronavirus vaccine from the U.K. to mainland Europe, as a battle over production delays and supply continues. It comes after AstraZeneca told the EU last week that it would initially deliver far
American Airlines flight 718, the first U.S. Boeing 737 MAX commercial flight since regulators lifted a 20-month grounding in November, takes off from Miami, Florida, December 29, 2020. Marco Bello | Reuters American Airlines on Thursday reported a record quarterly loss and faces difficult months ahead as new travel restrictions and a slow rollout of
Stock futures tied to major U.S. equity indices retreated early Thursday as the market appeared ready to extend a sharp sell-off amid concerns about heightened speculative trading. Futures on the Dow Jones Industrial Average pointed to an opening drop of more than 100 points. S&P 500 and Nasdaq 100 futures also traded in negative territory.
Call them the Reddit Rich. GameStop’s parabolic stock surge over the past two weeks, driven partly by the Reddit Wallstreetbets crowd, has created more than $2 billion in personal wealth for the company’s three biggest individual shareholders. While it may not last long, the massive shareholder gains created in such a short time gives new
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