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Dow climbs TK points amid reports Janet Yellen will be named Treasury Secretary

BRENDAN SMIALOWSKI/AFP via Getty Images US stocks gained on Monday amid reports that former Fed Chair Janet Yellen would be selected as President-elect Joe Biden's Treasury Secretary.The news came on a day where investors cheered the data results from another COVID-19 vaccine candidate, this time from AstraZeneca.AstraZeneca said its COVID-19 vaccine candidate demonstrated an average efficacy rate of 70%, making it the third company to have announced vaccine data that surpassed the Food an...
Tags: Finance, White House, US, Trends, Markets, Joe Biden, Food And Drug Administration, Treasury, Trading, Stocks, Janet Yellen, Goldman Sachs, US Treasury, University of Oxford, Biden, Stock Market


The world's largest wealth manager breaks down 4 sectors that will disrupt the technology industry and become major investment themes over the next decade

First Solar  UBS said that investors will benefit from buying fintech, healthtech, greentech, and 5G stocks as these 4 sectors will disrupt the technology industry and become the dominant investment themes throughout the next decade. These themes will dominate the market as last decade's leaders—technology and consumer discretionary—lag behind. UBS added that the coronavirus pandemic triggered a permanent shift towards telemedicine and contactless payments, two investment themes with upsid...
Tags: Japan, US, Trends, Investing, Markets, Renewable Energy, Eu, Ubs, Fintech, Green Energy, 2021, Healthcare Stocks, Stock Market Analysis, Long-Term Investing, Emily Graffeo, Investing advice


Dow climbs 328 points amid reports Janet Yellen will be named treasury secretary

Janet Yellen. BRENDAN SMIALOWSKI/AFP via Getty Images US stocks gained on Monday amid reports that President-elect Joe Biden would select former Federal Reserve Chair Janet Yellen to be his treasury secretary.Earlier, investors cheered results from trials of another COVID-19 vaccine candidate, this time from AstraZeneca.AstraZeneca said its COVID-19 vaccine demonstrated an average efficacy rate of 70%, making it the third company to have announced vaccine data surpassing the Food and Drug A...
Tags: Finance, White House, US, Trends, Markets, Joe Biden, Food And Drug Administration, Trading, Stocks, Janet Yellen, Goldman Sachs, University of Oxford, Biden, Stock Market, Nasdaq, Dow Jones


'Ripe for another correction': US stocks could tumble 12% by year-end as the vaccine-driven rally gets exhausted, Morgan Stanley's investment chief says

Scott Heins/Getty Images The S&P 500 could tumble by as much as 12% in one last sharp sell-off before the end of the year, according to Morgan Stanley's chief investment officer, Mike Wilson."Price action appears exhaustive and the market seems ripe for another correction," Wilson said on Monday.Along with an exhausted vaccine-driven rally, Treasury Secretary Steven Mnuchin's decision to allow Federal Reserve lending programs to expire adds to the risk of a near-term correction, Wilson sai...
Tags: US, Trends, Markets, Treasury, Goldman Sachs, Federal Reserve, Morgan Stanley, S&P 500, Wilson, Fed, Stock Market Crash, Mike Wilson, Mnuchin, Steven Mnuchin, Mike Wilson Morgan Stanley, Value Stocks


Snap rallies 7% after unveiling TikTok-competitor Spotlight

Getty Images for Snap, Inc. Snap rallied as much as 7% on Monday after unveiling Spotlight, a new Snapchat feature set to compete with TikTok and Instagram Reels.The jump placed shares above the previous record-high set on November 6.The service will allow users to submit snaps to be featured in a reel of looping videos. Snap will incentivize submissions with more than $1 million in daily payouts through the end of the year, according to a press release.Watch Snap trade live here.Snap soar...
Tags: US, Trends, Social Media, Markets, Snapchat, Goldman Sachs, Snap, Tech Stocks, Snap Inc, Social Media Stocks, Ben Winck, Tech Stock, Snapchat Spotlight, Snap stock, Snap Stock Price, Snap Inc Stock Price


'Ripe for another correction': US stocks will tumble 12% by year-end as the vaccine-driven rally gets exhausted, says Morgan Stanley's investment chief

Scott Heins/Getty Images The S&P 500 could tumble up to 12% in one last sharp sell-off before year-end, according to Morgan Stanley chief investment officer Mike Wilson."Price action appears exhaustive and the market seems ripe for another correction," said the chief investment officer on Monday.Along with an exhausted vaccine-driven rally, Mnuchin's decision to allow Fed lending programs to expire adds to the risk of a near-term correction, Wilson said.However, the CIO still has a bullish...
Tags: US, Trends, CIO, Markets, Treasury, Goldman Sachs, Morgan Stanley, S&P 500, Wilson, Fed, Stock Market Crash, Mike Wilson, Mnuchin, Steven Mnuchin, Value Stocks, Scott Heins Getty


The value-stock rally won't be as strong as investors expect as bond yields stay low, JPMorgan says

Bloomberg TV JPMorgan Asset Management's Patrik Schöwitz told CNBC on Monday he's not "overly optimistic" on the rotation into value stocks because he expects bond yields to stay low. "Traditionally, you need to see rising bond yields to actually have a big value rally," the global strategist said. "That's partly to do because financials are a big part of the value universe and they like higher bond yields." Schöwitz sees aggressive central bank action limiting the rise of bond yields, lea...
Tags: US, Trends, Investing, Markets, US Treasury, Pfizer, Biden, Morgan Stanley, Cnbc, Jpmorgan, Treasuries, US Treasuries, Bank Stocks, Yields, Value Investing, JPMorgan Asset Management


Moderna's CEO sold nearly $2 million of his stock ahead of the company's emergency use vaccine filing. He's now worth $3 billion.

Moderna CEO, Stephane Bancel. Andrew Dunn/Business Insider Moderna CEO Stephane Bancel sold almost $2 million in shares ahead of the company's emergency use authorization filing for its COVID-19 vaccine.Bancel sold a total of 19,000 shares between November 18-19 as part of a predetermined trading plan amended May 21, according to a filing with the SEC.Moderna is the second major drug company to announce success in a late-stage COVID-19 vaccine trial. It expects to file for FDA approval by t...
Tags: Trends, Markets, Billionaires, SEC, Stocks, Fda, Pfizer, Goldman, Pharmaceutical, Pharma Company, Moderna, Healthcare Stocks, Stéphane Bancel, Albert Bourla, Coronavirus, Bancel


Biden team is reportedly pushing congressional Democrats to strike an immediate stimulus deal with Republicans to stave off a renewed recession

President-elect Joe Biden. Drew Angerer/Getty Images President-elect Joe Biden's economic advisors fear another recession is looming, The New York Times reported. The impasse over another stimulus package and the prospect of millions of people losing unemployment benefits are leading them to press congressional Democrats to pass another aid package very quickly, The Times said. The surge in virus cases is causing another wave of restrictions and closures that experts say could deal a blow ...
Tags: Politics, Congress, Washington Post, Senate, US, Trends, Markets, Joe Biden, Democrats, House, New York Times, The Times, Mitch McConnell, Nancy Pelosi, Biden, Times


Biden team is reportedly pushing congressional Democrats to strike an immediate stimulus deal with Republicans to stave off renewed recession

Drew Angerer/Getty Images Biden's economic advisors fear another recession is looming, according to a report in The New York Times. The impasse over another stimulus package as well as the prospect of millions of people losing unemployment benefits is leading them to press congressional Democrats to pass another aid package very quickly. The surge of virus cases is causing another wave of restrictions and closures that experts say could deal a blow to the economic recovery. Visit Business...
Tags: Politics, Congress, Washington Post, Senate, US, Trends, Markets, Joe Biden, Democrats, House, New York Times, Mitch McConnell, Nancy Pelosi, Biden, Times, Donald Trump


PayPal and Square's Cash App have scooped up 100% of newly mined bitcoins, report says

Smith Collection/Gado/Getty Images PayPal and Square's Cash App have scored 100% of the new supply of bitcoins, according to the crypto hedge fund Pantera Capital.A chief reason for Bitcoin's rally is the ease of investing via PayPal, Cash App, and Robinhood, the firm said.PayPal has already bought 70% of newly issued bitcoin, while Square is estimated to be buying about 40%.Visit Business Insider's homepage for more stories.PayPal and Jack Dorsey's Cash App have bought 100% of newly mined...
Tags: US, Trends, Markets, Paypal, Bitcoin, Square, Jack Dorsey, Cryptocurrencies, Goldman, Robinhood, Pantera Capital, Pantera, Bitcoin Miners, Bitcoin mining, Square app, Cash App


Tesla has 104% upside potential in bull-case scenario as global demand for EVs hits tipping point, Wedbush says

Johannes Eisele/AFP via Getty Images Tesla's inclusion in the S&P 500 and its "sustained path to profitability" means the bull story is now all about an acceleration in demand for electric vehicles, according to a note from Wedbush.As global demand for EVs hits a tipping point, Tesla could surge 104% in a bull-case scenario to $1,000, Wedbush said in the note."New designs around Cybertruck and Model Y will further aid growth globally and thus enable Tesla to achieve its million delivery un...
Tags: California, Finance, China, Trends, Markets, Tesla, Joe Biden, Electric Vehicles, Trading, Stocks, Biden, Stock Market, EVs, Goldman, Wedbush, Matthew Fox


Major business leaders reportedly signed a letter urging Trump to concede, and warn that 'our democracy grows weaker' the longer the presidential transition is delayed

President-elect Joe Biden speaks Saturday, Nov. 7, 2020, in Wilmington, Del. Associated Press/Andrew Harnik Over 100 American business leaders have signed a joint letter urging President Trump to concede the 2020 presidential election to President-elect Joe Biden, the New York Times reported on Monday morning. The group includes the president of private equity firm Blackstone and the head of real estate firm Tishman Speyer.  "Every day that an orderly presidential transition process is del...
Tags: New York, America, Trends, Georgia, Markets, Joe Biden, Economy, New York Times, General Services Administration, US Senate, Republican, Biden, Times, Donald Trump, Blackstone, Kamala Harris


10 things you need to know before the opening bell

Reuters Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.For the biggest stories in politics, sign up here for 10 Things in Politics You Need to Know Today - launching soon!Here's what you need to know before markets open.1. Global stocks rise as the US plans first COVID-19 vaccinations by mid-December. Here's what's happening on the markets.2. UK drugmaker AstraZeneca sees its shares slide. The company said its COVID-19 vaccine candi...
Tags: UK, Global, US, America, Trends, Markets, Chicago, Treasury, Astrazeneca, Warren Buffett, Goldman Sachs, Biden, Goldman, Paul Krugman, Fed, Urban Outfitters


Ethereum and Ripple are exploding higher thanks to the growing interest in cryptocurrencies that lifted Bitcoin above $18,000

Yuriko Nakao/Getty Images Ethereum and Ripple are soaring, echoing the powerful rally in Bitcoin, as mass interest in cryptocurrencies picks up steam.Ethereum has jumped almost four-fold this year to just below $600, although this is still short of its record $1,500 in January 2018.The price of smaller crypto rival Ripple has hit its highest since mid-2019, having doubled in value in this month alone.This growing interest raises red flags, because many people are pouring in money into cryp...
Tags: Trends, Markets, Bitcoin, Meyer, Cryptocurrencies, Goldman, Ethereum, Business Insider, Bitcoin Ethereum, Ripple, Grayscale Investments, Bernard Meyer, Michael Sonnenshein, Markets And Economy, Crypto Assets, Cybernews


Bitcoin is 'here to stay' thanks to huge demand from millennials, BlackRock's Rick Rieder says

Steve Marcus/Reuters Bitcoin is "is here to stay," BlackRock's chief investment officer of fixed income Rick Rieder told CNBC on Friday.Rieder pointed to millenials openness to cryptocurrencies and digital payments as one reason why the popular crypto currency isn't going anywhere.While Rieder said he doesn't own bitcoin in his own portfolio, he does see potential for bitcoin to "take the place of gold to a large extent," according to the interview.Visit Business Insider's homepage for mor...
Tags: Finance, Trends, Markets, Bitcoin, Crypto, Trading, Cryptocurrencies, Goldman, Cnbc, Cryptocurrency, Blackrock, Rieder, Jpmorgan, Ray Dalio, Rick Rieder, Crypto Currency


The K-shaped economic recovery dividing America also applies to companies. Here are 4 implications of that trend, according to a Wall Street chief strategist.

Spencer Platt/Getty Images Just as the pandemic's economic fallout disproportionately hit low-income Americans and minorities, low-earning industries face a far more difficult return to pre-pandemic strength, said James Paulsen, chief strategist at The Leuthold Group. High-earning sectors' unemployment rate jumped to just 12% and now sits at 5.5%. Yet low-earning industries saw their unemployment rate rocket to 23%, and it now stands at 9.6%. Outlined below are the four implications of su...
Tags: US, America, Trends, Markets, Tesla, Bank Of America, Economic Inequality, Economic recovery, Warren Buffett, Goldman Sachs, Economic Growth, Jefferies, Paulsen, Spencer Platt Getty, Economic Outlook, Rob Arnott


Stocks still have major upside potential with the Fed poised to backstop sluggish stimulus progress, says the world's largest wealth manager

Spencer Platt/Getty Images Investors continue to cling onto hope that another round of fiscal stimulus to combat the COVID-19 pandemic will be passed by Congress.While more stimulus would likely provide a boost to stocks, any setbacks in the deal making process "won't derail [the] equity rally," UBS chief investment officer Mark Haefele said in a note on Friday.Potential setbacks became clear this week after Senate Majority Leader Mitch McConnell called a stimulus proposal from the Democra...
Tags: Congress, Washington, Finance, Senate, US, Trends, Markets, Tesla, Ubs, Treasury, Mitch McConnell, Trading, Stocks, US Treasury, Federal Reserve, Biden


The world's biggest crypto fund manager says Bitcoin is the next step in the evolution of money – and 'I can't use it to buy coffee' is no longer a sound argument

Nicolas Economou/NurPhoto via Getty Images Bitcoin is not a fad that will fade away, said Michael Sonnenshein, managing director of Greyscale Investments.Investors understand that "buying Bitcoin and putting it in their portfolio is meant to be a store of value, inflation hedge, a digital gold, a digital form of money," Sonnenshein told Business Insider.Investors should not get hung up over the fact that there are only 21 million Bitcoin that will ever exist, because each coin has a 100 mi...
Tags: UK, Finance, US, Trends, Markets, Paypal, Bitcoin, Square, Jack Dorsey, Cryptocurrencies, Digital Currency, Jefferies, Business Insider, MicroStrategy, Grayscale Investments, Greyscale


All of Tesla's other services will be worth more than its car business, according to one Wall Street analyst who says the company should be compared to Apple, Tinder, and more.

Elon Musk, founder and chief engineer of SpaceX speaks at the 2020 Satellite Conference and Exhibition March 9, 2020 in Washington, DC. Win McNamee/Getty Images Tesla's services business could be worth more than all of its car sales by the end of the next decade, Morgan Stanley said.  The bank estimates autopilot, insurance, energy, and everything else to be worth about 53% of a new street-high target price of $540 by 2030.  Investors should also consider comparing the company to other ser...
Tags: Apple, Transportation, Spacex, Elon Musk, News, Tinder, California, Washington, Trends, Markets, Tesla, Roku, Morgan Stanley, Detroit, Jonas, Musk


US stocks slide amid dispute over Fed funds and spiking COVID-19 cases

Bryan R Smith/Reuters US stocks fell on Friday as conflict over the use of Federal Reserve funds offset positive developments for vaccine distribution.Treasury Secretary Steven Mnuchin urged the Fed on Thursday to return funds set aside for emergency lending, setting up several relief programs for year-end expiration.The move marked a rare bout of disagreement, as the Fed replied with a call to extend "the full suite of emergency facilities" past their upcoming deadlines.Pfizer and BioNTec...
Tags: California, US, Trends, Markets, Bank Of America, Bitcoin, Ubs, Treasury, World Health Organization, Oil Price, Warren Buffett, Fda, Pfizer, Federal Reserve, Dow Jones, Gold Price


Nvidia will rip 24% higher as it dominates thriving semiconductor markets through 2021, Bank of America says

Mandel Ngan/AFP/Getty Images Nvidia's strong third-quarter results are foreshadowing continued outperformance over the next year, Bank of America analysts said in a recent note.The team led by Vivek Arya lifted its price target on Nvidia shares to $665 from $650, implying a 24% rally from Thursday's closing level.Demand for Nvidia's chips "remains strong across some of the most desirable end-markets in semis," including gaming, artificial intelligence, and cloud computing, the analysts sai...
Tags: Softbank, Trends, Markets, Tesla, Bank Of America, Nvidia, Jefferies, Fed, Chipmakers, EBIT, BofA, NVDA, Tech Stocks, Vivek Arya, Rob Arnott, Ashley Wilson


Pfizer, BioNTech gain after saying they'll submit their COVID-19 vaccine to the FDA for emergency approval

Dogukan Keskinkilic/Anadolu Agency via Getty Images Pfizer and BioNTech gained on Friday after saying they would submit their COVID-19 vaccine candidate to the FDA today for Emergency Use Authorization.The submission will potentially enable use of the vaccine in high-risk populations in the US by the middle to end of December, the companies said.The companies will be ready to distribute the vaccine within hours after authorization and expect to produce up to 50 million doses of its vaccine...
Tags: US, Trends, Markets, Tesla, Fda, Pfizer, Movers, Matthew Fox, Rob Arnott, BioNtech, Ashley Wilson, Mover, COVID-19, Covid-19 Vaccine, Pfizer BioNTech, Pfizer Stock


Tesla's S&P 500 entry could spark a $8 billion buying spree, Goldman Sachs says

Elon Musk. Xinhua via Getty Images Large-cap mutual funds are on the verge of fueling a massive rally for Tesla shares, Goldman Sachs said Thursday.The automaker is set to join the S&P 500 on December 21 as one of its 10 most valuable members.Of the 189 large-cap core funds tracked by Goldman, 157 funds managing roughly $500 billion don't yet hold Tesla stock, the bank said.If the funds aim to hold Tesla at benchmark weight when it joins the index, they will buy about $8 billion worth of sh...
Tags: US, Trends, Markets, Tesla, Treasury, TSLA, Goldman Sachs, Morgan Stanley, Goldman, S&P 500, Fed, Mutual Funds, Index Committee, CBOE, Rob Arnott, Tesla Stock


US stocks waver as stimulus friction and rising virus cases overshadow vaccine hopes

Reuters / Lucas Jackson US stocks fluctuated on Friday as soaring COVID-19 cases and disagreement on new stimulus offset positive developments for vaccine distribution.Pfizer and BioNTech both gained ahead of plans to apply for emergency-use authorization for their experimental coronavirus vaccine. The FDA's vetting process is set to take a few weeks, teeing the shot up for an early 2021 rollout.The US reported a record 182,832 new COVID-19 cases on Thursday, according to The COVID Trackin...
Tags: US, Trends, Markets, Tesla, Bank Of America, Bitcoin, Economic recovery, Treasury, World Health Organization, Oil Price, Fda, Pfizer, Federal Reserve, Stimulus, Gold Price, S&P 500


10 things you need to know before the opening bell

Photo by Caroline Brehman/CQ-Roll Call, Inc via Getty Images Welcome to 10 Things Before the Opening Bell. Sign up here to get this email in your inbox every morning.For the biggest stories in politics, sign up here for 10 Things in Politics You Need to Know Today - launching soon!Here's what you need to know before markets open.1. Global stocks get lift from hopes for a vaccine. But Mnuchin's decision to nix Fed lending programs has hit some assets harder than others.2. 'Big Short' invest...
Tags: UK, Finance, Global, US, Trends, Markets, Bank Of America, Deutsche Bank, Jefferies, Fed, Big Short, Michael Burry, Baker Hughes, Amanda Cooper, Mnuchin, CQ Roll Call Inc


Ray Dalio's hedge fund poured about half a billion dollars into Walmart, Alibaba, and Coca Cola, and dumped large positions in China-focused ETFs in the 3rd-quarter

Roy Rochlin/Getty Images Investing legend Ray Dalio's hedge fund poured millions into Alibaba, Walmart, and Coca Cola, and sold some positions in Chinese equity ETFs in the third quarter this year.The billionaire also invested heavily in McDonald's, Abbott Labs, Procter & Gamble, and Johnson & Johnson.While the fund's largest withdrawal was from an ETF that tracks large-cap US equities, it sold out positions worth several millions in three China ETFs.Dalio also pumped over $100 million in ...
Tags: Coca Cola, China, US, Trends, Investing, Markets, Walmart, Alibaba, Deutsche Bank, Mcdonald's, SEC, Stocks, Jefferies, Hedge Fund, McDonald, Vanguard


How to buy gold to diversify your portfolio and help shield against market downturns

Bullion coins and bars are the "purest" way to invest in gold, but can be costly to own and slow to sell. lionvision/Getty Images Physical gold can be bought for investment in two basic ways: bullion bars or coins. Buying physical gold involves researching reputable dealers, understanding pricing, and shouldering storage costs. Alternatives to physical gold include gold stocks and funds — less "pure," but more liquid, investments. Visit Business Insider's Investing Reference library for mo...
Tags: Trends, Gold, Markets, Ira, American Eagle, Irs, Freelance, Bullion, Krugerrand, Investing How To, Alexis Rhiannon


Tech stocks lead the market higher as traders weigh vaccine progress against virus concerns

Lucas Jackson/Reuters Technology stocks led the market higher on Thursday, even as COVID-19 concerns lingered following New York City's decision to transfer its school system to remote learning. A rise in daily COVID-19 cases led to an infection rate of more than 3% in New York City, which spurred Mayor Bill DeBlasio to shut down physical learning at schools on Wednesday.On the economic data front, 742,000 more Americans filed for unemployment last week, more than experts had forecast. Wat...
Tags: New York, Congress, Finance, New York City, US, Trends, Markets, Deutsche Bank, Trading, Astrazeneca, Stocks, Goldman Sachs, Stock Market, Nasdaq, Dow Jones, S&P 500


Dividend yield is a key way to evaluate a company and the regular payouts from its stock

Calculating a stock's dividend yield is simple, and provides a way to accurately compare dividends from different stocks. Witthaya Prasongsin/Getty Images A dividend yield is a ratio — expressed as a percentage — that shows how much a company pays its shareholders in dividends relative to its share price. Dividend yield can help investors evaluate the potential profit for every dollar they invest, and judge the risks of investing in a particular company. A good dividend yield varies de...
Tags: Trends, Markets, Healthcare, Dividends, VZ, Pg, Goldman, Freelance, Bernstein, Proctor, Hasi, Dividend Yield, NNN, Chevron CVX, Pfizer PFE, CVX