Robinhood has 18 million accounts with $80 billion in assets after rapid growth, IPO filing shows
Robinhood Markets filed for one of the most anticipated initial public offerings of the year on Thursday, revealing rapid growth resulting in 18 million retail clients and more than $80 billion in customer assets. Unlike many recent IPOs, Robinhood was...
130 nations agree to support U.S. proposal for global minimum tax on corporations
U.S. Treasury Secretary Janet Yellen speaks during a news conference, after attending the G7 finance ministers meeting, at Winfield House in London, Britain June 5, 2021. Justin Tallis | Reuters WASHINGTON – Treasury Secretary Janet Yellen announced Thursday that a...
Weekly jobless claims total hits new pandemic-era low of 364,000
Initial filings for unemployment insurance fell sharply last week, indicating continued improvement in the U.S. jobs market, the Labor Department reported Thursday. First-time jobless claims totaled 364,000 for the week ended June 26, compared with the 390,000 Dow Jones estimate....
This market trend suggests a weak summer, but Ally Invest has a message for investors: Don’t get discouraged
Despite an upbeat market forecast for the year’s second half, Ally Invest’s Lindsey Bell has a warning for the next few months. Bell finds the third quarter is usually the weakest time of the year, up 0.7% on average since...
The biggest threat to Biden’s hot economy could be his own policies
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lamarque | Reuters Halfway through 2021, and about six months into the...
As housing boom begins to fizzle, weekly mortgage demand falls nearly 7%
Record high home price appreciation is sidelining ever more buyers and finally taking the bang out of the pandemic-induced housing boom. Weekly mortgage demand is falling along with it, down 6.9% for the week according to the Mortgage Bankers Association’s...
Biden’s infrastructure plan would cut U.S. debt and slightly increase economic growth, Wharton study finds
U.S. President Joe Biden delivers remarks highlighting the benefits of Bipartisan Infrastructure Framework, at La Crosse Municipal Transit Utility, in La Crosse, Wisconsin, U.S., June 29, 2021. Kevin Lemarque | Reuters A bipartisan infrastructure deal reached by President Joe Biden...
Stocks making the biggest moves in the premarket: Virgin Galactic, Bed Bath & Beyond, MongoDB & more
Take a look at some of the biggest movers in the premarket: Virgin Galactic (SPCE) – The space transportation company’s stock dropped 3% in premarket trading, after Bank of America Securities double-downgraded the stock to “underperform” from “buy.” BofA notes...
Stocks making the biggest moves midday: Moderna, Morgan Stanley, GE and more
Boxes containing vials of the Moderna Covid-19 vaccine are stored at the Kedren Community Health Center on January 25, 2021 in Los Angeles, California. Patrick T. Fallon | AFP | Getty Images Check out the companies making headlines in midday...
Home prices surged in April at a ‘truly extraordinary’ rate, S&P Case-Shiller says
Home prices in April saw an annual gain of 14.6% in April, up from a 13.3% increase in March, according to the S&P CoreLogic Case-Shiller National Home Price Index. Among larger cities covered by the index, the 10-city composite was...
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