• ETF Wrap: Great quarter, guys Link
    MarketWatch Thu 15 Apr 2021 15:36

    It’s been another one of those weeks that felt like a job guarantee for journalists who write the first draft of history. But this time, it wasn’t an entire decade flashing by in seven days. This week brought the ghosts of decades past returning for a visit. There was a life before lockdown, they remind us. You are here now because of what happened back then. Remember?

  • I’m on track to retire at 58. My fiancée is in debt, and I support her family. How do I ensure my son inherits my wealth after I die? The Moneyist: "Tread gently. It may be that these children become as important to you as if they were your own." Link
    MarketWatch Thu 15 Apr 2021 15:26

    Dear Quentin,

    I have dated my fiancée for just over three years. Within those three years, I have been severed from a job and spent two years unemployed looking for a new job. I have a new job, making roughly 75% of what I previously made, but it is a more than livable salary. My fiancée makes a modest salary in comparison to my own.

  • Vaccination in the U.S. was never expected to go perfectly — or provide 100% protection against COVID-19 Health professionals say J&J's saga, 'breakthrough cases' and other such risks are built into the entire process Link
    MarketWatch Thu 15 Apr 2021 15:21

    Achieving herd immunity through mass vaccination involves a delicate — sometimes tricky — dance with side effects, public opinion and virus variants. All three are unpredictable, and can turn when you least expect it.

    The rollout of coronavirus vaccines has not been without challenges, but the government’s goal to not rely on just one vaccine has limited the scope of a setback involving any one product. As this week’s events illustrate, however, the suspension of a vaccine runs the risk of affecting public opinion surrounding the entire process.

  • Coinbase is a leader like Tesla, Zoom and Snowflake. Shares are worth $500, say BTIG analysts. Link
    MarketWatch Thu 15 Apr 2021 15:16

    Shares of cryptocurrency exchange Coinbase Global were wobbling on Thursday, but at least one bullish call from Wall Street was cheering them on.

    Analysts at BTIG initiated coverage on the digital currency platform with a buy rating and a $500 price target. Stock in Coinbase headed higher in opening trade, but has since slipped 1.6%.

  • BCA Research is urging investors to buy bank stocks after Citi, Goldman Sachs, JPMorgan and Bank of America's earnings wowed. What do you think? Link
    MarketWatch Thu 15 Apr 2021 15:16

    Our call of the day is from research firm BCA Research, urging investors to favor an overweight allocation to bank stocks in their portfolios as a number of factors support continued strength in financials.

    First-quarter earnings at the banking giants were boosted by large drawdowns in loss reserves, which were more than double pre-COVID-19 pandemic levels by the end of 2020. As the economic recovery from pandemic continues, banks will continue to release reserves as the need to accommodate for large potential loan losses eases, BCA said.

    But moving forward, banks will need to focus on their ability to expand loan portfolios. Banks’ core profits come from borrowing from savers at low interest rates in the short term and lending at higher rates in the long term. The dynamics of fiscal stimulus in the U.S. have caused deposits to surge and loans to shrink, but this is expected to change once the economy reopens, BCA said.

    The vaccine rollout is gathering...

  • BCA Research is urging investors to favor an overweight allocation to bank stocks in their portfolios as a number of factors support continued strength in financials. Link
    MarketWatch Thu 15 Apr 2021 15:06

    Our call of the day is from research firm BCA Research, urging investors to favor an overweight allocation to bank stocks in their portfolios as a number of factors support continued strength in financials.

    First-quarter earnings at the banking giants were boosted by large drawdowns in loss reserves, which were more than double pre-COVID-19 pandemic levels by the end of 2020. As the economic recovery from pandemic continues, banks will continue to release reserves as the need to accommodate for large potential loan losses eases, BCA said.

    But moving forward, banks will need to focus on their ability to expand loan portfolios. Banks’ core profits come from borrowing from savers at low interest rates in the short term and lending at higher rates in the long term. The dynamics of fiscal stimulus in the U.S. have caused deposits to surge and loans to shrink, but this is expected to change once the economy reopens, BCA said.

    The vaccine rollout is gathering...

  • The CDC has identified about 5,800 cases of people who were fully vaccinated but got infected anyway. Some became seriously ill and 74 people died. It is not unexpected to have these "breakthrough" cases, as the vaccines are not 100% effective. Link
    MarketWatch Thu 15 Apr 2021 14:41

    The Centers for Disease Control and Prevention has identified about 5,800 cases of people who were fully vaccinated against the coronavirus-borne illness COVID-19 but got infected anyway, CNN reported. Some became seriously ill and 74 people died, the CDC told CNN by email. "To date, no unexpected patterns have been identified in case demographics or vaccine characteristics," the CDC said. It is not unexpected to have these "breakthrough" cases, as the vaccines are not 100% effective in preventing infections, making it important that people continue to wear face masks and socially distance, even after being vaccinated. The agency said it will be looking for clues about who is most prone to become infected despite having been vaccinated. "Vaccine breakthrough infections were reported among all people of all ages eligible for vaccination. However, a little over 40% of the infections were in people 60 or more years of age," the CDC said.

  • Esports rockets nearly 5-fold in public debut Link
    MarketWatch Thu 15 Apr 2021 14:31
    blasted out of the gate in morning trading Thursday, and kept rising, as the Las Vegas-based online gambling company's stock opened at more than triple the initial public offering price. The stock's first trade was $21.00 at 10:09 a.m. Eastern for 126,245 shares, while the upsized IPO priced overnight at $6.00 a share. The stock has extended gains since its opening, to trade 373.0% above its IPO price at $28.38, to pace all Nasdaq gainers, prior to a trading halt for volatility. The pricing was at the top of the expected range of between $5.00 and $6.00 a share, which was recently raised from between $4.50 and $5.00 a share, and valued the company at $79.9 million. The company sold 2.4 million shares in the IPO, up from previous expectations of 2.0 million shares, to raise $14.4 million. Boustead Securities was the sole underwriter of the IPO. The company had recorded a net loss of $573,225 on revenue of $195,778 the fiscal year ended Sept. 30, 2020, after net income of $24,103...
  • U.S. unemployment claims sank by 193,000 in early April to a fresh pandemic low, an unusually large decline that likely reflects both an improving economy but also ongoing problems in processing applications for jobless benefits. Link
    MarketWatch Thu 15 Apr 2021 14:31

    The numbers: U.S. unemployment claims sank by 193,000 in early April to a fresh pandemic low, an unusually large decline that reflects an improving economy but also ongoing problems in processing applications for jobless benefits.

    Initial jobless claims filed traditionally through the states fell to a seasonally adjusted 576,000 from 769,000 in the prior week, the government said Thursday. That’s the largest decline since August.

  • Tesla truck rival TuSimple raises $1.08 billion in IPO Link
    MarketWatch Thu 15 Apr 2021 14:26

    TuSimple has raised $1.08 billion in an IPO after the autonomous trucking rival to Tesla and Google priced shares above its range ahead of the group’s market debut on the Nasdaq on Thursday.

    Almost 34 million shares were sold for $40 each, giving the San Diego, California-based company a market value of $8.49 billion, based on the details of outstanding stock in its filings. The company sold 27.03 million shares, while a selling shareholder sold 6.76 million shares, TuSimple said.

  • Retail sales leaped almost 10% in March thanks to stimulus checks, an accelerating economy and increased vaccinations. Consumer spending accounts for 70% of U.S. economic activity and retail sales is one-third of that figure. Link
    MarketWatch Thu 15 Apr 2021 14:21

    The numbers: Sales at U.S. retailers leaped almost 10% in March thanks to $1,400 stimulus checks for consumers from the federal government and an accelerating economy that’s likely to stay in the fast lane through the spring and summer.

    Receipts climbed 9.8% last month, the government said Thursday. Economists polled by Dow Jones and The Wall Street Journal had forecast a 6.1% increase.

  • U.S. industrial output rebounds in March Link
    MarketWatch Thu 15 Apr 2021 14:11

    The numbers: U.S. industrial production rose 1.4% in March, after a revised 2.6% fall in the prior month that was caused by severe winter weather, the Federal Reserve said Thursday.

    The gain in March was below Wall Street expectations of a 2.7% gain, according to a survey by the Wall Street Journal. Production was held down by a steep decline in output from power utilities, as weather switched from unseasonably cold to unseasonably warm.

  • NY Empire State, Philly Fed factory indexes jump in April Link
    MarketWatch Thu 15 Apr 2021 14:01

    The numbers: Two U.S. regional gauges of manufacturing sentiment showed strength in April, according to data released Thursday.

    The Philadelphia Federal Reserve manufacturing index jumped to a reading of 50.2 in April from a revised 44.5 in the prior month. This is highest level in almost 50 years. Economists had expected a reading of 42 after the initial reading for March of 51.8, according to a Wall Street Journal survey of economists.

  • Industrial production rebounds but gain is less than expected Link
    MarketWatch Thu 15 Apr 2021 13:51

    The numbers: U.S. industrial production rose 1.4% in March, after a revised 2.6% fall in the prior month that was caused by severe winter weather, the Federal Reserve said Thursday.

    The gain in March was below Wall Street expectations of a 2.7% gain, according to a survey by the Wall Street Journal. Production was held down by a steep decline in output from power utilities, as weather switched from unseasonably cold to unseasonably warm.

  • U.S. jobless claims nosedive 193,000 to pandemic low of 576,000 Link
    MarketWatch Thu 15 Apr 2021 13:46

    The numbers: U.S. unemployment claims sank by 193,000 in early April to a fresh pandemic low, an unusually large decline that likely reflects both an improving economy but also ongoing problems in processing applications for jobless benefits.

    Initial jobless claims filed traditionally through the states fell to a seasonally adjusted 576,000 from 769,000 in the prior week, the government said Thursday. That’s the largest decline since August.

  • Amazon CEO's total 2020 pay is $1.7 million -- and most of it pays for 1 thing Link
    MarketWatch Thu 15 Apr 2021 13:46
    Chief Executive Jeff Bezos base salary for 2020 remained at $81,840, the same as 2019 and just a little more than double the median total compensation U.S. full-time employees of $37,930. In the ecommerce and cloud giant's 2020 proxy statement filed late Wednesday, Amazon disclosed that Bezos total 2020 compensation was $1,681,840, also the same as the year before, as he again received no stock awards and "all other compensation" remained at $1.60 million. For Bezos, all other compensation represents costs to the company for security arrangements for Bezos, which the company said it believed was "reasonable" in light of Bezos' "low salary." But despite the low salary, Bezos acknowledged in a letter to shareholders that he was "wealthy," as recent filings show he owned 53.21 million Amazon shares, representing 10.57% of the shares outstanding, and valued at $180.1 billion at current prices. The stock, which rose 1.6% in morning trading, has rallied 46.7% over the past 12 months...
  • U.S. stocks opened higher Thursday amid a raft of strong economic reports and corporate results. Link https://t.co/9OdgbJMRzw
    MarketWatch Thu 15 Apr 2021 13:41
    was up 122 points or 0.9%, near 13,980. First-time filings for jobless benefits fell sharply in the most recent week, the Labor Department said Thursday morning, and retail sales rocketed nearly 10% in March as Americans spent their stimulus checks. Shares of Coinbase Global Inc. COIN,
  • Dow hits record at open after stronger-than-expected economic data Link
    MarketWatch Thu 15 Apr 2021 13:36
    was up 122 points or 0.9%, near 13,980. First-time filings for jobless benefits fell sharply in the most recent week, the Labor Department said Thursday morning, and retail sales rocketed nearly 10% in March as Americans spent their stimulus checks. Shares of Coinbase Global Inc. COIN,
  • Stocks jump at the open as Coinbase rises, Americans go shopping Link
    MarketWatch Thu 15 Apr 2021 13:36
    was up 122 points or 0.9%, near 13,980. First-time filings for jobless benefits fell sharply in the most recent week, the Labor Department said Thursday morning, and retail sales rocketed nearly 10% in March as Americans spent their stimulus checks. Shares of Coinbase Global Inc. COIN,
  • Stimulus checks ring up 9.8% sales gain for U.S. retailers in March Link
    MarketWatch Thu 15 Apr 2021 13:36

    The numbers: Sales at U.S. retailers leaped almost 10% in March thanks to $1,400 stimulus checks for consumers from the federal government and an accelerating economy that’s likely to stay in the fast lane through the spring and summer.

    Receipts climbed 9.8% last month, the government said Thursday. Economists polled by Dow Jones and The Wall Street Journal had forecast a 6.1% increase.

  • An Oxford study found 4 in 1 million people experience blood clots after getting the Pfizer or Moderna vaccine, versus 5 in 1 million people for the AstraZeneca vaccine. The risk of getting blood clots is much higher for those who get COVID-19. Link
    MarketWatch Thu 15 Apr 2021 13:21

    A study by Oxford University found the number of people who receive blood clots after getting vaccinated with a coronavirus vaccine are about the same for those who get Pfizer PFE,

  • ?Coinbase shares are climbing in premarket trading one day after the cryptocurrency platform became the most valuable U.S. exchange amid strong demand for its newly listed stock. $COIN Link https://t.co/9HmMDXze2i
    MarketWatch Thu 15 Apr 2021 13:11

    Shares of Coinbase climbed 12% in premarket trading on Thursday, a day after the cryptocurrency platform became the most valuable U.S. exchange Wednesday amid strong demand for its newly listed stock. Shares of Coinbase made its debut at $381 a share on Wednesday, after a $250 reference price was established Tuesday afternoon. The stock pushed as high as $429.54 before ending at $328.28. At the closing price, Coinbase was valued at $85.8 billion.

  • Gold prices rise Thursday morning as benchmark U.S. Treasury yield slips to 1.60% Link
    MarketWatch Thu 15 Apr 2021 13:11

    Gold futures on Thursday were climbing as U.S. benchmark bond yields pulled back and as the dollar saw subdued action in early trade.

    A series of good reports on the health of the U.S. economy provided some support for bullion given the threat of inflation.

    June gold  GC00,

  • CDC says 5,800 people were fully vaccinated but still got COVID: report Link
    MarketWatch Thu 15 Apr 2021 13:01

    The Centers for Disease Control and Prevention has identified about 5,800 cases of people who were fully vaccinated against the coronavirus-borne illness COVID-19 but got infected anyway, CNN reported. Some became seriously ill and 74 people died, the CDC told CNN by email. "To date, no unexpected patterns have been identified in case demographics or vaccine characteristics," the CDC said. It is not unexpected to have these "breakthrough" cases, as the vaccines are not 100% effective in preventing infections, making it important that people continue to wear face masks and socially distance, even after being vaccinated. The agency said it will be looking for clues about who is most prone to become infected despite having been vaccinated. "Vaccine breakthrough infections were reported among all people of all ages eligible for vaccination. However, a little over 40% of the infections were in people 60 or more years of age," the CDC said.

  • New York, Philadelphia factory indexes jump, reveal price pressures Link
    MarketWatch Thu 15 Apr 2021 13:01

    The numbers: Two U.S. regional gauges of manufacturing sentiment showed strength in April, according to data released Thursday.

    The Philadelphia Federal Reserve manufacturing index jumped to a reading of 50.2 in April from a revised 44.5 in the prior month. This is highest level in almost 50 years. Economists had expected a reading of 42 after the initial reading for March of 51.8, according to a Wall Street Journal survey of economists.

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