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March 5, 2021

Wall Street

Robinhood chooses the Nasdaq for its IPO, sources say

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CNBC – For more and to sign up click here Avishek Das | LightRocket | Getty Images This is a developing story. Check back for updates. Robinhood has chosen the Nasdaq for its eventual initial public offering, according to sources familiar with the matter. The company has not yet filed......

‘Fintech is coming into the mainstream from this pandemic,’ JPMorgan’s Joyce Chang says

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CNBC – For more and to sign up click here With the pandemic boosting demand for alternative assets, JPMorgan’s Joyce Chang is seeing a new dynamic unfolding in the cryptocurrency space: a battle between banks and fintech. “Fintech is coming into the mainstream from this pandemic as there has really......

Biden climate envoy John Kerry talking to banks, asset managers about mobilizing capital for clean energy

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CNBC – For more and to sign up click here U.S. climate envoy John Kerry speaks at a press briefing at the White House in Washington, January 27, 2021. Kevin Lamarque | Reuters John Kerry, the U.S. special envoy for climate, is holding discussions with leaders in the financial sector......

Stock futures are flat after a steep sell-off on Wall Street amid surging bond yields

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CNBC – For more and to sign up click here Traders on the floor of the New York Stock Exchange Source: NYSE Stock futures were flat in overnight trading Thursday following a tech-led rout on Wall Street amid a surge in bond yields. Futures on the Dow Jones Industrial Average......

Employers likely added more jobs in February, but economists say there’s no bounce back yet

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CNBC – For more and to sign up click here A worker wearing a protective mask boxes a pizza inside a Costco store in San Francisco, California, on Wednesday, March 3, 2021. David Paul Morris | Bloomberg | Getty Images Hiring likely improved in February as more of the economy......

SPACs are becoming less of a sure thing as the deals get stranger, shares roll over

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CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 31, 2018. Brendan McDermid | Reuters Things are getting weird in the sizzling SPAC market. A leisure SPAC is now doing a biotech......

‘Buzz’ ETF tracking social media sentiment launches Thursday amid Reddit manias in stocks

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CNBC – For more and to sign up click here The logos of Google, Facebook, Instagram, Twitter, Snapchat and TikTok displayed on a computer screen. Denis Charlet | AFP via Getty Images Is it time for an ETF that measures hype? Measuring the buzz around stocks mentioned in social media......

Tech ‘rollover’ is a major buying opportunity: Oppenheimer’s top strategist

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CNBC – For more and to sign up click here One top strategist is calling the tech slump a major buying opportunity. According to Oppenheimer Asset Management’s John Stoltzfus, the group will rebound because it plays a key role in the economy’s reopening. He cites the critical support tech companies......

Stock futures little changed after major averages dip amid rising bond yields

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CNBC – For more and to sign up click here U.S. stock index futures were little changed during overnight trading on Wednesday, after stocks finished the session in the red across the board. Futures contracts tied to the Dow Jones Industrial Average slid 4 points. S&P 500 futures and Nasdaq......

Shares of Rocket Companies are dropping after a 70% irrational pop in the heavily shorted name

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CNBC – For more and to sign up click here A Reddit logo seen displayed on a smartphone with stock market prices in the background. Omar Marques | LightRocket | Getty Images Shares of Rocket Companies dropped more than 17% Wednesday following a surprise rally in the previous session, as......

The oil industry is getting greener much more quickly as U.S. focus shifts to climate change

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CNBC – For more and to sign up click here A worker wrestles a stand of drill pipe into place on a drilling rig near Midland, Texas. Nick Oxford | Reuters The greening of the American oil industry has gone into overdrive. Dan Yergin, IHS Markit vice chairman, said it’s......

Biden SEC pick Gensler grilled over bitcoin, GameStop mania and board diversity

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CNBC – For more and to sign up click here Gary Gensler Andrew Harrer | Bloomberg | Getty Images Gary Gensler, President Joe Biden’s pick to lead the Securities and Exchange Commission, said he would hope to oversee cryptocurrency regulation, the “gamification” of equity trading and board diversity if confirmed......

Market bull who predicted herd immunity by Independence Day: ‘Maybe we weren’t optimistic enough’

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CNBC – For more and to sign up click here He’s the market bull who predicted the U.S. would be free of the coronavirus by Independence Day. And now, Phil Orlando’s forecast may be closer to becoming a reality. As the U.S. goes to three available vaccines from two, President......

Stock futures rise slightly in overnight trading after Tuesday’s losses

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CNBC – For more and to sign up click here U.S. stock futures rose slightly in overnight trading Tuesday after stocks dipped in the regular session. Dow futures rose 65 points. S&P 500 futures gained 0.15% and Nasdaq 100 futures rose 0.19%. On Tuesday, the major averages gave back some......

Shares of Rocket Companies, a large short target of hedge funds, jump more than 20%

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CNBC – For more and to sign up click here The WallStreetBets forum on the Reddit Inc. website on a laptop computer and the logo on a smartphone arranged in Hastings-On-Hudson, New York, U.S., on Friday, Jan. 29, 2021. Tiffany Hagler-Geard | Bloomberg | Getty Images Shares of Rocket Companies......

Stocks making the biggest moves in the premarket: Zoom Video, Novavax, Nio & more

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CNBC – For more and to sign up click here Take a look at some of the biggest movers in the premarket: Zoom Video (ZM) – Zoom reported quarterly profit of $1.22 per share, beating the consensus estimate of 79 cents a share. Revenue also topped forecasts, and Zoom gave......

The value trade is running ‘way too far and way too fast’ for this stage of the reopening, PNC strategist says

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CNBC – For more and to sign up click here The major indexes may be kicking off the month in rally mode, but PNC Financial’s Amanda Agati sees trouble under the hood. She believes the rotation into economically sensitive market groups from stay-at-home plays is overdone. “The value side of......

Stock futures rise after S&P 500 notches best day since June

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CNBC – For more and to sign up click here Futures contracts tied to the major U.S. stock indexes rose at the start of extended trading Monday evening after the S&P 500 rallied more than 2% during regular trading hours for its best day since June. Dow futures added 40......

New York attorney general warns cryptocurrency industry: ‘Play by the rules or we will shut you down’

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CNBC – For more and to sign up click here A visual representation of digital currencies. Yuriko Nakao | Getty Images New York Attorney General Letitia James sent a blistering warning to investors and industry members about the dangers of cryptocurrencies on Monday. “We’re sending a clear message to the......

Bitcoin is at a tipping point and could become ‘currency of choice’ for global trade, Citi says

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CNBC – For more and to sign up click here A customer uses a bitcoin automated teller machine (ATM) in a kiosk Barcelona, Spain, on Tuesday, Feb. 23, 2021. Angel Garcia | Bloomberg | Getty Images Citi thinks bitcoin is at a “tipping point” and could one day “become the......

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