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VanEck files with the SEC for an Ethereum ETF as it waits for the regulator to approve its bitcoin fund

Ether is the cryptocurrency of the Ethereum network. Photothek/Getty Images Asset manager VanEck has filed to list an Ethereum exchange-traded fund. The firm is seeking SEC's permission to list shares of its VanEck Ethereum Trust. The SEC delayed a decision on whether to greenlight VanEck's bitcoin ETF until July. See more stories on Insider's business page. Asset manager VanEck is seeking US regulatory approval to launch an Ethereum exchange-traded fund, with the move takin...
Tags: US, Trends, Markets, Bitcoin, SEC, Ethereum, Securities And Exchange Commission, CBOE, ETF, Carla Mozee, VanEck, bitcoin ETF, Ethereum Blockchain, S P Dow Jones, Ether ETF, MI Exclusive


Gold spikes as as 'epic' miss in April jobs report eases worries about a Fed rate hike

Gold prices picked up Friday. David Gray/Getty Images Gold prices climbed to their highest since early February on Friday following the April US jobs report. The gain of 266,000 jobs was well below expectations of 1 million jobs being added to payrolls. The data miss pushed Treasury yields lower, make gold more attractive to buy. See more stories on Insider's business page. Gold prices jumped Friday after the weak US monthly jobs report tamped down expectations of an interest-rate hi...
Tags: US, Trends, Gold, Markets, Bloomberg, Jobs Report, Treasury, Federal Reserve, Metals, Fed, Bullion, Labor Department, Jerome Powell, Carla Mozee, OANDA, Rate Hike


Tilray climbs 10% as the cannabis company gets a double upgrade to 'buy' from Jefferies

A Tilray worker tends to cannabis plants. Tilray Tilray shares jumped 10% on Friday after Jefferies upgraded the cannabis company to a buy rating. Tilray's tie-up with Aphria was a "perfect match," said Jefferies, which also raised its price target to $23 a share. In the analysts' upside scenario, the stock could climb to $31. See more stories on Insider's business page. Tilray shares stepped up by roughly 10% on Friday, bolstered by a double upgrade to "buy" from "underperf...
Tags: Europe, US, Trends, Markets, Cannabis, Canada, M&a, Jefferies, Bennett, Carla Mozee, Thc, Tilray, Aphria, Owen Bennett, Price Target, Buy Rating


Moderna's CEO said he 'didn't lose a minute of sleep' over the US support for waiving patents for COVID-19 vaccines

Moderna CEO Stephane Bancel. Steven Ferdman/Getty Images The Biden administration said on Wednesday it supported IP waivers for COVID-19 vaccines. But Moderna's CEO said on Thursday he doesn't believe the move would hurt the company. Stéphane Bancel said it would take a long time for other companies to recreate Moderna's vaccine. See more stories on Insider's business page. The CEO of Moderna said he "didn't lose a minute of sleep" following the US decision to back waiv...
Tags: Politics, Finance, Germany, US, Trends, Spain, Joe Biden, Healthcare, News UK, World Trade Organization, WTO, Pfizer, Vaccine, Biden, Morgan Stanley, Reuters


Dow soars 318 points to record high as investors weigh new economic-recovery data

Traders work on the floor at the New York Stock Exchange. Brendan McDermid/Reuters The Dow Jones Industrial Average pushed to a record high on Thursday. Stocks found support as fewer-than-expected Americans filed for jobless benefits. Home Depot, P&G and Apple were all up, helping the Dow push to fresh highs. See more stories on Insider's business page. The Dow Jones Industrial Average notched a new record high Thursday as stocks pegged to the reopening of the economy got a boost fr...
Tags: Apple, Home Depot, Microsoft, Etsy, US, Trends, Markets, Bloomberg, Treasury, Stocks, S&P 500, Dow Jones Industrial Average, Procter Gamble, Nasdaq Composite, Labor Department, Carla Mozee


Moderna stock plummeted on Biden's support of waiving vaccine patent protections, but that backing won't have a material impact on the company, Morgan Stanley says

Moderna's COVID-19 vaccine won emergency use authorization from the FDA in December 2020. Madison Hall/Insider Moderna shares have dropped sharply since the Biden administration on Wednesday voiced support for waiving patent protections on COVID-19 vaccines. Morgan Stanley said it doesn't see the US's waiver support as having a material impact on Moderna's business. Moderna's management had indicated it wouldn't enforce its vaccine patent during the pandemic, says...
Tags: US, Trends, Markets, WTO, Fda, Pfizer, Biden, Morgan Stanley, Patent, Harrison, Carla Mozee, Moderna, Waiver, Matthew Harrison, Covid Vaccine, Drug Makers


Etsy slumps 14% after warning growth could slow in coming months following 1st-quarter earnings beat

Etsy shares struggled Thursday after a sales warning. Igor Golovniov/SOPA Images/LightRocket/Getty Images Etsy stock fell by 14% on Thursday after the online marketplace projected slower sales growth on its platform. First-quarter earnings of $1 per share beat expectations of $0.88 per share. Revenue of $550.6 million was ahead of Wall Street's estimate of $530 million. See more stories on Insider's business page. Etsy shares tumbled to their lowest price in nearly five months Th...
Tags: Etsy, Sales, Trends, Markets, Silverman, Carla Mozee, Josh Silverman, Online Retailers, Etsy Stock, Igor Golovniov, COVID, MI Exclusive, Q1 Earnings, 1Q earnings, SOPA Images LightRocket Getty Images Etsy, Refinitiv Consolidated


Etsy slumps 11% after warning growth could slow in coming months following 1st-quarter earnings beat

Etsy is an online marketplace that offers handmade and vintage goods from independent sellers. Igor Golovniov/SOPA Images/LightRocket/Getty Images Etsy stock fell by 11% on Thursday after the online marketplace projected slower sales growth on its platform. First-quarter earnings of $1 per share beat expectations of $0.88 per share. Revenue of $550.6 million was ahead of Wall Street's estimate of $530 million. See more stories on Insider's business page. Etsy shares tumbled Thurs...
Tags: Etsy, Sales, Trends, Markets, Silverman, Carla Mozee, Josh Silverman, Online Retailers, Etsy Stock, Igor Golovniov, COVID, MI Exclusive, Q1 Earnings, 1Q earnings, SOPA Images LightRocket Getty Images Etsy, Refinitiv Consolidated


US stocks trade mixed as investors weigh jobless-claims data

Bryan R Smith/Reuters US stocks were mixed Thursday, with the Dow Jones Industrial Average coming off a record-high close. Fewer Americans than expected filed for jobless benefits last week. Shares of Moderna and other vaccine makers were under pressure. See more stories on Insider's business page. US stocks edged higher Thursday as weekly jobless claims suggested there's been a further recovery in the labor market from the COVID-19 pandemic, with the snapshot arriving ahead th...
Tags: US, Trends, Markets, Bloomberg, Economy, Stocks, West Texas Intermediate, Pfizer, Biden, S&P 500, Dow Jones Industrial Average, Nasdaq Composite, Labor Department, Carla Mozee, Moderna, BioNtech


Shark Tank star Kevin O'Leary once called bitcoin 'garbage', but said the cryptocurrency now makes up 3% of his portfolio

Frederick M. Brown/Getty Images Shark Tank investor Kevin O'Leary said he has allocated 3% of his portfolio to bitcoin, which he once considered "garbage". O'Leary said in an interview with Yahoo Finance he's working on organizing a "council of sustainability" to include corporations and governments that are mining bitcoin responsibly. O'Leary bought bitcoin as Canada and other countries have eased restrictions on institutional buying of the cryptocurrency. See more stor...
Tags: Sweden, Trends, Investing, Markets, Bitcoin, Canada, Argentina, Cambridge University, Cnbc, Shark Tank, Leary, Yahoo Finance, Kevin O'Leary, Carla Mozee, Frederick M Brown, Crytocurrencies


The founder of Wall Street Bets is creating a blockchain app to 'fight corruption' in financial markets

WallStreetBets founder Jaime Rogozinski. Jaime Rogozinski. The founder of Wall Streets Bets is launching a blockchain app and exchange-traded portfolios in an effort to empower retail investors to "fight back against corrupt institutions." "The amalgamation of blockchain technology with financial markets is the next logical step for finance," said Wall Street Bets founder Jaime Rogozinski. Retail investors would use a token to vote on issues related to the Wall Street Bets exchange-trade...
Tags: Wall Street, Trends, Markets, Tesla, Reddit, Blockchain, Gamestop, WSB, Carla Mozee, Jaime Rogozinski, Rogozinski, WallStreetBets, MI Exclusive, Jaime Rogozinski Jaime Rogozinski, BTCVIX


Bitcoin will soon be available through hundreds of US banks in a partnership with crypto firm NYDIG, report says

Bitcoin is becoming more mainstream. SOPA Images/Getty Images Bitcoin is coming to hundreds of banks in the US in the coming months, CNBC reported Wednesday. NYDIG, a crypto custody firm, and Fidelity National Information Services are working together to enable banks to offer the cryptocurrency. FIS will handle the link to lenders and NYDIG will handle bitcoin custody and trade execution, the report said. See more stories on Insider's business page. Bitcoin will become available to ...
Tags: Banks, US, Trends, Markets, Paypal, Bitcoin, Crypto, Cryptocurrencies, Fis, Cnbc, Jpmorgan, Fidelity National Information Services, FDIC, Zhao, Carla Mozee, Yan Zhao


The sell-off in chip stocks on supply worries is overshadowing reasons to buy them, says Bank of America

REUTERS/Michael Buholzer Semiconductor stocks have been yanked lower recently on worries about a shortage of chips worldwide but likely annual growth in auto production and in smartphone shipments are among the reasons Bank of America said it still sees buying opportunities in the space. A shortage of chips, largely stemming from production shutdowns and business restrictions resulting from the COVID-19 pandemic, has affected a wide range of companies, including Ford Motor which has said s...
Tags: US, Trends, Markets, Bank Of America, Ford Motor, Teradyne, Ter, KLA Tencor, ASML, Carla Mozee, Tech Stocks, KLAC, Vivek Arya, Lcrx, Applied Materials, NVMI


Precipio extends 2-day gain to 404% following launch of the company's COVID-19 test on Amazon

Spencer Platt/Getty Images Precipio shares jumped by more than 400% during a rally that extended for a second day on Tuesday. The surge came after the company's COVID-19 antibody test started selling on Amazon. The 20-minute test was the first of its kind in the US to win FDA approval for emergency use. See more stories on Insider's business page. Precipio stock rocketed higher for a second session on Tuesday, with a fivefold surge in the price ignited after the specialty diagn...
Tags: Amazon, US, Trends, Markets, Food And Drug Administration, Stocks, Fda, Health Care, Pharmaceutical, Palo Alto California, Carla Mozee, Coronavirus, COVID, Antibody Test, COVID-19 test, MI Exclusive


London-based EV maker Arrival soars 10% after announcing a vehicle-development partnership with Uber

Arrival product chief Tom Elvidge. Arrival Shares of London-based electric automaker Arrival soared Tuesday after the company struck a deal with Uber to develop a vehicle for ride-hailing drivers. Arrival said the car will reduce emissions as Uber has pledged for its London-based service to go fully electric by 2025. The Arrival Car's design is expected to be shown by the end of 2021. See more stories on Insider's business page. Shares of London-based electric automaker Arrival s...
Tags: Transportation, Electric Vehicle, Uber, Europe, London, Cars, Trends, Markets, North America, Air Quality, Emissions, Eastern Europe, Ev, Carla Mozee, Climate Crisis, Arrival


Share buyback plans have boomed and should help the US stock market continue to soar higher, research firm says

Xinhua/Wang Ying/Getty Images Corporate buyback announcements 'exploded' as trading in April wrapped up and that helped push stocks higher, said Vanda Research. A jump in buybacks should help soften the blow in the US equity market in the event of a drawdown. "As net equity supply shrinks every dollar invested in the US market will have a larger marginal impact," said Vanda. See more stories on Insider's business page. There's been a surge in planned corporate share buy...
Tags: Apple, Google, Wall Street, US, Trends, Markets, Bank Of America, Stocks, Stock Market, S&P 500, Dow Jones Industrial Average, Alphabet, Nasdaq Composite, Carla Mozee, Share Buybacks, Vanda


Stock market bullishness is at a 13-year high, but euphoric sentiment also means it may soon be time to sell, Bank of America says

Lucas Jackson/Reuters Bank of America said bullishness in the stock market is the highest in 13 years. But its contrarian Sell Side Indicator is very close to tilting into an area that will signal to investors that it's time to sell. BofA said it still prefers cyclical stocks. See more stories on Insider's business page. Investors are the most enthusiastic about stocks since the global financial crisis more than 10 years ago but the market is edging closer to indicating that it&...
Tags: US, Trends, Investing, Markets, Bank Of America, Stocks, Equities, S&P 500, Dow Jones Industrial Average, Nasdaq Composite, BofA, Savita Subramanian, Carla Mozee, Nasdaq 100, Sell Side Indicator, MI Exclusive


Bitcoin trading volume was 7 times that of Apple in April as the cryptocurrency saw wild volatility and a 24% sell-off

Omar Marques/SOPA Images/LightRocket via Getty Images Bitcoin's trading volume of $1.84 trillion in April towered over Apple's at $249.22 billion, research firm Finbold said Monday. Bitcoin trading volumed surged in a month that saw its price tumble from record highs. Finbold said the digital currency is now competing with established, traditional asset classes. See more stories on Insider's business page. Bitcoin's trading volume in US dollars outstripped that of tech ...
Tags: Apple, Elon Musk, US, Trends, Markets, Tesla, Paypal, Bitcoin, Crypto, Apple Market Cap, Cryptocurrencies, Securities And Exchange Commission, Carla Mozee, Omar Marques, Getty Images Bitcoin, Bitcoin Market Cap


Warren Buffett says Greg Abel is his likely successor as Berkshire Hathaway CEO

Berkshire Hathaway's Greg Abel. Greg Abel, in this April 30, 2010 photo, is seen in Omaha, Neb. Vice Chairman Charlie Munger added his own letter this year, and predicted that Berkshire will be fine once he and Warren Buffett are gone because of the management talent it already has. Munger singled out reinsurance executive Jain and Berkshire Hathaway Energy CEO Greg Abel as two Berkshire executives who could succeed Buffett one day. ( Billionaire Warren Buffett told CNBC that his likel...
Tags: Trends, Markets, Berkshire Hathaway, Warren Buffett, Berkshire, Cnbc, Jain, Buffett, Greg, Omaha Neb, Berkshire Hathaway Energy, Abel, Munger, Charlie Munger, Carla Mozee, Successor


The US is still waiting on its first bitcoin ETF. Here's what experts say the SEC wants to see before giving approval.

The SEC has a number of applications for bitcoin ETFs to review. NurPhoto/Getty Images The SEC has started reviewing applications for bitcoin exchange-traded funds, which have yet to launch for trading in the US. The regulator will consider bitcoin's volatility and market maturity in rendering a decision whether or not to greenlight the products, experts say. The SEC recently pushed back a decision on a bitcoin ETF until at least this summer. See more stories on Insider's busine...
Tags: Obama, US, America, Trends, Markets, Tesla, Regulators, Paypal, Mit, Bitcoin, Canada, Jp Morgan, Crypto, SEC, Commodity Futures Trading Commission, North America


US stocks tumble as downbeat overseas data dampen global growth prospects

Spencer Platt/Getty Images US stocks ended lower on Friday to close out April. Twitter and Amazon shares were under pressure during the session following quarterly earnings reports. Eurozone and Chinese economic data came in softer than expected. See more stories on Insider's business page. US stocks slumped Friday, hurt by disappointing economic data from the eurozone and China, the world's second-largest economy, that may crimp prospects for global recovery from the COVID-19 ...
Tags: Amazon, Congress, China, US, Trends, Markets, Stocks, Nasdaq, S&P 500, Dow Jones Industrial Average, Commerce Department, Carla Mozee, Russell 2000, Nasdaq 100, Stock market news today, Spencer Platt Getty Images US


Americans' personal income shot up 21.1% in March, a record dating back to at least 1946

Passers-by examine a storefront window on Boston's Newbury Street shopping district. Personal income and spending both jumped in March. Steven Senne, File via AP Personal income for Americans climbed by 21.1% in March, the Commerce Department said Friday. It's the highest on record in data that goes all the way back to 1946; spending was up by 4.2%. The income jump was supported by the $1.9 trillion stimulus signed into law by President Biden. See more stories on Insider's bus...
Tags: White House, Boston, US, Barack Obama, Trends, Joe Biden, Harvard, Biden, Commerce Department, Council of Economic Advisers, Bureau of Economic Analysis, Census Bureau, Steven Senne, Newbury Street, Ian Shepherdson, Carla Mozee


XRP jumps 15% as Ripple's largest outside shareholder says the company could look to go public following a settlement with the SEC

Ripple CEO Brad Garlinghouse Ripple XRP leapt 15% on Friday following a report that Ripple, the company behind the token, wants to go public. Ripple's largest outside shareholder says the cryptocurrency company wants to go public after settling its legal issues with the SEC. Japanese financial giant SBI Group is Ripple's largest outside shareholder. See more stories on Insider's business page. XRP, the digital asset used in Ripple Labs' payment network, soared Friday af...
Tags: Ipo, US, Trends, Markets, Crypto, SEC, Chris, Larsen, SBI Group, Carla Mozee, Brad Garlinghouse, Garlinghouse, Yoshitaka Kitao, Ripple, XRP, Chris Larsen


US stocks fall as traders weigh earnings reports and economic growth projections

Lucas Jackson/Reuters All three of Wall Street's major averages were lower early Friday. The Dow Jones Industrial Average backed off a record high, with Amazon shares losing ground. Sentiment appeared to be weighed by disappointing economic data from the eurozone and China. See more stories on Insider's business page. US stocks lost ground Friday as investors started to wrap up the week with disappointing economic data from the eurozone that may dampen prospects for global grow...
Tags: Amazon, Wall Street, China, US, Trends, Markets, Stock, Carla Mozee, Stock Market News, Lucas Jackson Reuters, MI Exclusive


Gold ETFs suffer their largest outflows in 4 years as higher interest rates hurt investment demand

A sales assistant takes out gold ornaments for a customer at Caibai Jewelry store in Beijing. Reuters Global gold demand fell by 23% in the first quarter from a year ago, the World Gold Council said Thursday. Gold ETFs suffered a quarterly outflow of $9.5 billion as rising interest rates and dollar strength hurt investment demand. The council said there was increased demand for physical gold including jewelry. See more stories on Insider's business page. Gold-backed exchange-traded ...
Tags: Jewelry, US, Trends, Gold, Investing, Markets, Wgc, Treasury, World Gold Council, Gold prices, Federal Reserve, Commerce Department, Carla Mozee, Gold Demand, Yields, VanEck Vectors Gold Miners ETF


Ford dives 10% after warning 2nd-quarter production will be halved by a chip shortage

Workers build Ford F-150 trucks. Associated Press Ford shares fell as much as 10% on Thursday as the company expects a 50% hit to second-quarter production. The company said a global shortage of semiconductors will be a potential drag on its output. Ford said a fire at a Japanese chip supplier worsened the shortage situation. See more stories on Insider's business page. Ford shares tumbled to a two-month low Thursday after the vehicle maker said a worldwide shortage in semiconductor...
Tags: Apple, Japan, Cars, Trends, Markets, Vehicles, Ford, Electric Vehicles, Tim Cook, F-150, Trucks, F, Ev, Tesla CEO Elon Musk, Associated Press Ford, Carla Mozee


A 'drop the mic' quarter: 3 Apple stock analysts explain why they're boosting price targets after a monster 2nd-quarter earnings report

Majdi Fathi/NurPhoto via Getty Images Apple turned in earnings and revenue for its financial second quarter that surged past Wall Street's expectations Goldman Sachs upgraded Apple shares to neutral from sell following the earnings report. JP Morgan and Wedbush increased their price targets for the tech giant. See more stories on Insider's business page. Apple's second-quarter financial report outstripped expectations set by Wall Street, bolstered by a 66% climb in iPhone sa...
Tags: Apple, Mac, China, US, Trends, Markets, Jp Morgan, Goldman Sachs, Iphones, Goldman, Mac Computers, Wedbush, Cook Co, Carla Mozee, Rod Hall, Tech Stocks


Investors are sitting on a mountain of cash, but nearly half surveyed are ready to increase their allocations to stocks, UBS Global Wealth Management says

Investors worldwide are holding 'high' levels of cash in their portfolios, says UBS Global Wealth Management. d3sign Investors worldwide are holding "elevated levels" of their assets in cash, says UBS Global Wealth Management. The firm said 41% of investors are considering putting cash to work in stocks over the next six months. US investors are the most upbeat as confidence in the domestic economy has climbed, the firm's sentiment survey showed. See more stories on Insider&...
Tags: US, Trends, Cash, Investing, Markets, Ubs, Stocks, Survey, Federal Reserve, Biden, Equities, S&P 500, Investors, Trump, Carla Mozee, UBS Wealth Management


A decision on VanEck's bitcoin ETF has been kicked to June as the SEC says more time to consider first-ever US fund is 'appropriate'

Bitcoin recently hit a record high near $65,000. Dado Ruvic/Reuters The Securities and Exchange Commission on Wednesday pushed back the timing on rendering a decision to approve or reject VanEck's bitcoin ETF. The SEC is aiming to issue a decision in June, giving itself an additional 45 days. Investors are waiting for the approval of the first bitcoin ETF in the US. See more stories on Insider's business page. The Securities and Exchange Commission said Wednesday it will delay a...
Tags: US, Trends, Markets, Bitcoin, Commission, Crypto, SEC, Cryptocurrencies, Coinbase, Securities And Exchange Commission, Carla Mozee, VanEck, bitcoin ETF, Cboe Global Markets, MI Exclusive, J Matthew DeLesDernier


Saudi Arabia in talks to sell 1% of oil giant Aramco to global energy firm, report says

Crown Prince Mohammed bin Salman. ALEXEY NIKOLSKY/SPUTNIK/AFP via Getty Images Saudi Arabia is talking to a "leading global energy company" about selling a 1% stake in oil producer Aramco, according to a CNBC report Wednesday. Saudi Arabia's Crown Prince Mohammed bin Salman says the unnamed company is from a 'huge' country. Saudi Aramco went public in December 2019 in the world's largest IPO. See more stories on Insider's business page. Saudi Arabia is in talks to se...
Tags: Energy, Saudi Arabia, Oil, Trends, Markets, Crude Oil, Cnbc, Aramco, Saudi Aramco, Tadawul, Mohammed bin Salman, Carla Mozee, Getty Images Saudi Arabia, Deal talks, MI Exclusive, Mohammed bin Salman ALEXEY NIKOLSKY