US stocks slide as biggest jobless-claims surge since March outweighs stimulus expectations

Lucas Jackson/Reuters US stocks ended Thursday lower as investors digested a surge in weekly jobless claims. The reading of 965,000 new unemployment filings represented the biggest increase since March and the highest level since August.The weak jobs report could give fuel to Democrats passing a massive stimulus bill once President-elect biden is inaugurated.Sign up here for our daily newsletter 10 Things Before the Opening Bell.US stocks ended Thursday lower as investors digested a surge ...
Tags: Finance, Senate, US, Trends, Markets, Tesla, European Central Bank, Virgin Galactic, House, Trading, Stocks, Christine Lagarde, Stock Market, Nasdaq, Goldman, Dow Jones

A Biden economic appointee explains how a 'true new deal' plan uses 9 reforms to rebuild wealth for all Americans

Bharat Ramamurti is a member of the COVID-19 Congressional Oversight Commission. Sarah Silbiger/Washington Post via AP pool Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the "Pitchfork Economics" podcast with Nick Hanauer and David Goldstein. In this week's episode, Hanauer spoke with Bharat Ramamurti, deputy director of the incoming Biden administration's National Economic Council who recently coauthored 'A True New Deal'...
Tags: Politics, Opinion, Finance, Elizabeth Warren, America, Trends, Ap, Washington Dc, Biden, Fdr, Student Debt, Nordic, New Deal, Roosevelt, Roosevelt Institute, National Economic Council

Mosaic raises $18.5M Series A from GC to rebuild the CFO software stack

CFOs are the supposed omniscient owners of a company. While the CEO sets strategy, messages, and builds culture, the CFO needs to know everything that it is going on in an organization. Where is revenue coming from, and when will it arrive? How much will new headcount cost, and when do those expenses need to be paid? How can cash flows be managed, and what debt products might help smooth out any discontinuities? As companies have migrated to the cloud, these questions have gotten harder to answe...
Tags: Google, Fundings & Exits, Startups, Finance, Ipo, Funding, Tech, ERP, Anaplan, Palantir, Felicis Ventures, Cfo, Mosaic, Everlaw, XYZ Ventures, Ross Fubini

Impact investing finances companies that aim to do good in the world - here's how it works and how to get involved

Impact investing focuses companies, funds, or firms that are dedicated to improving the environment or society while also providing a financial return for investors. Westend61/Getty Images Impact investing targets companies or projects committed to specific social or environmental causes. While many perform well, the return on impact investments may be lower than more traditional investments'. Impact investing is largely limited to private equity, but individuals get involved via broader E...
Tags: Finance, US, Trends, United States, Impact Investing, Sri, Socially Responsible Investing, ESG, Freelance, Morningstar, US Department of Labor, SUSA, People Planet, Arborview Capital, Giin, ESG ETFs

US stocks gain as stimulus optimism offsets the biggest jobless-claims surge since March

REUTERS/John Gress US stocks gained on Thursday as a surge in weekly jobless claims was offset by optimism around President-elect Joe Biden's stimulus plan.Weekly jobless claims of 965,000 represented the biggest increase since March and the highest level since August.Democrats are weighing a potential multi-trillion-dollar stimulus bill that would combine infrastructure spending and COVID-19 relief legislation into a single bill.Sign up here our daily newsletter, 10 Things Before the Open...
Tags: Finance, Senate, US, Trends, Georgia, Markets, Tesla, Joe Biden, House, Trading, Stocks, Christine Lagarde, Ecb, Stock Market, Nasdaq, Goldman

JPMorgan's quant guru says buy stocks as mass vaccinations drive the strongest GDP growth in 2 decades

CNBC TV Investors should stay pro-risk and continue buying stocks as a synchronized global expansion takes hold thanks to mass vaccinations, JPMorgan's Marko Kolanovic said in a note on Thursday.On top of the rollout of COVID-19 vaccines, highly accommodative monetary and fiscal policy, fading risks, and moderate investor positioning should drive a favorable environment for stocks."We expect 2021 to deliver the strongest year of global GDP growth in over two decades," Kolanovic said.Sign u...
Tags: Finance, US, Trends, Markets, Joe Biden, Stocks, Stock Market, Brexit, Trump, Jpmorgan, Jeff Gundlach, Matthew Fox, Marko Kolanovic, Kolanovic, Stock Market Outlook, Stock Market Analysis

These are the 4 big stock market implications of Joe Biden's upcoming agenda, NDR says

Drew Angerer/Getty Images Democrats' imminent control of Congress and the Presidency later this month will have big implications for the stock market, Ned Davis Research outlined in a note on Thursday.Key agenda items for President-elect Joe Biden should make waves in the following sectors: infrastructure and construction, clean energy, healthcare and technology, according to the note.Detailed below are the four big stock market implications of President-elect Joe Biden's upcoming agenda.S...
Tags: Facebook, Supreme Court, Congress, Finance, Senate, US, Trends, Markets, Tesla, Joe Biden, Trading, Stocks, Republican, Biden, Stock Market, Donald Trump

Extra Crunch roundup: Antitrust jitters, SPAC odyssey, white-hot IPOs, more

Some time ago, I gave up on the idea of finding a thread that connects each story in the weekly Extra Crunch roundup; there are no unified theories of technology news. The stories that left the deepest impression were related to two news pegs that dominated the week — Visa and Plaid calling off their $5.3 billion acquisition agreement, and sizzling-hot IPOs for Affirm and Poshmark. Watching Plaid and Visa sing “Let’s Call The Whole Thing Off” in harmony after the U.S. Department of Justice filed...
Tags: Startups, TC, Ecommerce, Hardware, Enterprise, Finance, Digital, Billie, Tech, Cannabis, SaaS, Venture Capital, Private Equity, Harry, Olympus, Payments

Upgrade launches checking accounts and debit cards

Fintech startup Upgrade has been positioning itself as a neobank. And yet, the company has mostly been focused on personal loans and more recently credit cards. You couldn’t just replace your bank account with Upgrade. Upgrade is adding two important missing pieces of the puzzle with checking accounts and debit cards. With today’s launch, Upgrade competes more directly with other challenger banks, such as Chime, N26 and others. You can open a checking account, control it from a mobile app, send ...
Tags: Startups, Finance, Tech, Upgrade, Fintech, Challenger Bank, FDIC, Renaud Laplanche, Laplanche, Cross River Bank, Neobank, Information Chime

Programming Note: RMD’s MLK Day Schedule

Thank you once again to Reverse Mortgage Daily’s dedicated base of readers for giving us a great start to our new year of coverage over the past couple of weeks! As a reminder, RMD and Aging Media Network will be closed on Monday, January 18 in observance of Martin Luther King Jr. Day. Our normal posting schedule and daily email will resume on the morning of Tuesday, January 19. We hope everyone enjoys the long holiday weekend, and takes a moment to reflect on the efforts of the man being ...
Tags: Featured, Finance, Reverse Mortgage Daily, Aging Media Network

X1 Card raises $12 million for its credit card with limits based on your income

X1 Card is raising a $12 million funding round. The company is building a credit card that sets limits based on your current and future income, not your credit score. Spark Capital is leading the round with Jared Leto, Aaron Levie, Jeremy Stoppelman, Max Levchin and Ali Rowghani also participating. American Express veteran Ash Gupta is also joining the company as an advisor — he was the Chief Risk Officer of American Express. The company says that it has attracted nearly 300,000 signups on its w...
Tags: Fundings & Exits, Startups, Ali Rowghani, Finance, Tech, American Express, Credit Card, Fintech, X1 Card, X+1, Ash Gupta, American Express The company

Senior Housing Wealth Reaches New Milestone of $7.82 Trillion

Homeowners aged 62 and older saw their collective housing wealth increase in Q3 2020 by 1.6% compared to the previous quarter. This constitutes an increase of approximately $121 billion to a record of $7.82 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The increase was reported Thursday in the quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI), circulated to NRMLA me...
Tags: Finance, FHA, Irwin, Steve Irwin, NRMLA

PepsiCo aims for net-zero greenhouse gas emissions by 2040

The food-and-beverage giant generated about 57 million metric tons of greenhouse gas emissions globally in 2019
Tags: Finance, Article, Pepsico, Reuters, FBN, Fbn/markets, Fox-business/markets/stocks, Fox-business/lifestyle/food-drinks, Fox-business/politics/climate-change, Fox-business/organization/pepsico, 2918ec94-f873-5e81-b20f-b5ee5760f8f0

Oil prices mixed Friday as concerns arise over Chinese Covid lockdowns

Oil prices were mixed on Friday as strong import data from China, the world’s biggest crude importer, that boosted sentiment earlier ran into concerns about Chinese cities in lockdown due to coronavirus outbreaks.
Tags: Finance, China, Article, Reuters, FBN, Fbn/markets, Fox-business/markets/oil, D9d3a77c-c670-538f-8ae5-d3cbbeabec21

Stocks drop as banks, energy names cap a losing week

U.S. stocks capped a losing week after President-elect Joe Biden’s proposed $1.9 trillion COVID-19 relief package underwhelmed investors.
Tags: Finance, Joe Biden, Article, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/us-markets, Jonathan Garber, Fox-business/topic/coronavirus, Fox-business/person/joe-biden, 38e30b33-2cf5-5ab9-8ef3-194e60afa610

How U.S. Institutions Can Play the Open Banking Game and Win

API-powered 'banking-as-a-service' arrangements with fintechs won't disrupt existing banking strategies, but extend them – improving CX. The post How U.S. Institutions Can Play the Open Banking Game and Win appeared first on The Financial Brand.
Tags: Finance, Customer Experience, Mobile Apps, Api, Fintech, Digital Banking Strategies, Baas, Technology Strategies, Open Banking, Partnering

Biden's environmental plan supercharges Tesla, rivals

Tesla will continue to lead the pack of U.S. automakers as the incoming Biden administration provides a tailwind for the electric vehicle business, according to one Wall Street analyst.
Tags: Finance, Tesla, Article, Biden, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/us-markets, Fox-business/technology/tesla, Jonathan Garber, Fox-business/person/joe-biden, 54a0e1ba-904e-57fb-b1bd-da8b8efb80e6

Minna Technologies, a subscription management tool for banking customers, raises $18.8M

With the proliferation of subscription services, combined with our lives becoming almost 100% digital, there’s a rising need to be able to manage these services. But most banks don’t have much of an answer. Step in Minna Technologies, which sells in its subscription management services into banking apps. It’s now raised $18.8 million (€15.5m / £14m) in Series B fundraising from Element Ventures, MiddleGame Ventures, Nineyards Equity and Visa, to expand its open banking technology to banks global...
Tags: TC, Spotify, Europe, Sweden, Finance, Tech, Banking, Economy, Netflix, Bank, Volvo, Up, Idc, Subscription Services, Visa, Gothenburg Sweden

Bond yields jump as Biden backs $2T coronavirus stimulus

Longer-dated U.S. Treasury yields rallied Thursday morning after reports said President-elect Joe Biden has backed a COVID-19 relief package worth up to $2 trillion.
Tags: Finance, Joe Biden, Article, Biden, U S Treasury, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/bonds, Jonathan Garber, Fox-business/topic/coronavirus, Fox-business/person/joe-biden, 58b3cb93-8774-5ecb-bdc8-11892335454f

Clips From Today’s Power Lunch

How some ‘space companies’ are planning to go public in 2021 from CNBC. ...The post Clips From Today’s Power Lunch appeared first on The Reformed Broker.
Tags: Finance, Cnbc, Current Markets

Plaid CEO touts new ‘clarity’ after failed Visa acquisition

Yesterday, we spoke with Plaid CEO and co-founder Zach Perret after news broke that Visa no longer plans to buy his company for $5.3 billion. The deal was heralded in early 2020 as a sign of the growing importance of fintech startups. Then it failed to close, eventually running into a lawsuit from the U.S. Department of Justice. A few months later, the acquisition was dropped. Sentiment in the market changed since the transaction was announced. As TechCrunch reported yesterday, there’s a good de...
Tags: Fundings & Exits, Startups, TC, Finance, Tech, Banking, Payments, Plaid, Fintech, Visa, Financial Technology, U S Department of Justice, SPAC, Perret, Zach Perret

Delta calls 2021 year of recovery after first loss in 11 years

In the first quarter, the Atlanta-based airline expects revenue to fall by 60% to 65% from a year ago and its scheduled flight capacity to shrink by 35%.
Tags: Finance, Atlanta, Article, Delta, Reuters, FBN, Fbn/markets, Fox-business/markets/earnings, Fox-business/business-leaders, Fox-business/lifestyle/travel, Fox-business/organization/delta-air-lines, Fox-business/topic/coronavirus, B02fd0fc-3120-528e-aa2c-3e917ab65e40

Good at the Cyber (with Crowdstrike CEO George Kurtz), 3 tech stocks for 2021 (with hedge fund manager Eric Jackson), Impeachment – ANOTHER ONE

This week on The Compound Show, Josh talks with George Kurtz, co-founder and CEO of Crowdstrike, one of the fastest growing technology companies in America. Crowdstrike’s shares have nearly quadrupled over the past year as Wall Street has fallen in love with the company’s growth prospects, business model and expanding TAM. George’s official blog is here at Crowdstrike’s corporate homepage: Crowdst...The post Good at the Cyber (with Crowdstrike CEO George Kurtz), 3 tech stocks for 2021 (with hedg...
Tags: Finance, Crowdstrike, George, Eric Jackson, George Kurtz, Current Markets, Compound Show Josh, America Crowdstrike

Stocks slide ahead of Biden's $1.9T coronavirus stimulus plan

U.S. equity markets lost steam Thursday as traders awaited details of President-elect Joe Biden’s proposed COVID-19 relief package.
Tags: Finance, Joe Biden, Article, Biden, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/stocks, Fox-business/markets/us-markets, Jonathan Garber, Fox-business/person/joe-biden, E05f236d-abe0-52bf-a9cb-f5c6f83a641a

JPMorgan revenue spikes as COVID-19 relief soothes economic pain

Congressional action on a second coronavirus-relief package and the development of vaccines to treat the deadly disease enabled the lender to free $2.9 billion in loan reserves
Tags: Finance, Article, Jpmorgan, FBN, Fbn/markets, FOXBusiness, Fox-business/markets/earnings, Fox-business/markets/wall-street, fox-business/industries/Financials, Fox-business/business-leaders/jamie-dimon, James Langford, Fox-business/markets/economy, 46a62dba-87c3-5b46-aaf5-d8ef8b85b91b

Surprise, surprise – the stimulus is actually stimulating

Compared to quantitative easing, the two COVID stimulus plans done on the fiscal side were absolute home runs in terms of having an immediate effect in the real economy. As we’ve discussed before, when the Fed does stimulus, it leads to rich people allocating some capital to VC and PE funds while the majority of it ends up in Treasury bond ETFs. There’s very little velocity. When you put money into the account...The post Surprise, surprise – the stimulus is actually stimulating appeared first on...
Tags: Finance, Treasury, Fed, Macro/Econ

Delta CEO: Coronavirus vaccine could restore profitability by summer

The coronavirus pandemic dealt a major blow to the travel industry, with airlines losing billions of dollars since the outbreak.
Tags: Finance, Article, FBN, Fbn/markets, FOXBusiness, Angelica Stabile, Fox-business/lifestyle/travel, Fox-business/organization/delta-air-lines, Fox-business/shows/the-claman-countdown, Fox-business/topic/coronavirus, 3efba6fe-9b23-5869-8b19-b71e73f2d458

Home services platform Porch acquires four companies

Only a few weeks after its SPAC IPO, Porch today announced that it has made four acquisitions, worth a total of $122 million. The most important here is probably the acquisition of Homeowners of America for $100 million, which gets Porch deeper into the home insurance space. In addition, Porch is also acquiring mover marketing and data platform V12 for $22 million, as well as home inspection service Palm-Tech and iRoofing, a SaaS application for roofing contractors. Porch did not disclose the ac...
Tags: TC, Real Estate, Texas, Finance, Virginia, Insurance, Tech, Georgia, Software, United States, Arizona, M&a, Mergers and Acquisitions, Financial Services, North Carolina, Porch

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