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S&P 500 closes near a record high as investors bet on minimal impact from Omicron

Scott Heins/Getty Images Wall Street's main stock indexes closed higher Wednesday, overcoming earlier pressure.  The Russell 2000 index of small-cap stocks also stood out in a third consecutive session of gains for Wall Street.  The S&P 500's last record high was set in mid-November, above 4,700.  US stocks ended higher Wednesday, as the week's rally resumed on the back of easing concerns that the Omicron strain of coronavirus would have a significant impact on the global economy....
Tags: US, Trends, Markets, Stocks, Goldman Sachs, Pfizer, S&P 500, Dow Jones Industrial Average, Nasdaq Composite, Chris Beauchamp, David Solomon, Carla Mozee, U S Bank Wealth Management, First Trust, BioNtech, Rob Haworth


Wall Street Bets claimed the top 3 most popular posts on all of Reddit this year. Here's what they said.

The WallStreetBets page seen in the background of a silhouette hand holding a mobile phone with Reddit logo. Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty ImagesPhoto Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images The Wall Street Bets subreddit had the top 3 posts across the social media site in 2021. The subreddit has 11 million users and is credited with helping GameStop shares soar in January. The most popular post was a picture of a bill...
Tags: Congress, Amc, Trends, Markets, Reddit, Robinhood, Gamestop, Times Square, Redditor, Gill, WSB, GME, Millennial investors, Rafael Henrique SOPA Images LightRocket, Natasha Dailey, Wall Street Bets


A congressman from Texas defended crypto exchanges as the 'Babe Ruth' of financial services and said regulation would undo progress in the industry

The US Capitol.Stock photo via Getty Images Texas Republican Rep. Roger Williams compared crypto industry leaders to Babe Ruth. He said crypto experts like FTX's Sam Bankman-Fried were paving a new path in the financial sector. Bitfury Group's Brian Brooks said the "way to win" at crypto is to safely bring people into the sector. Leaders in the crypto industry are like baseball hall-of-famer Babe Ruth, according to Texas representative Roger Williams.During a House Financial Services ...
Tags: Texas, Congress, Washington, US, Trends, Markets, Williams, House Of Representatives, Crypto, SEC, Cryptocurrencies, Coinbase, Ruth, Brooks, Babe Ruth, House Financial Services Committee


Circle tells congress its coin is '100%' backed by cash and short-term US debt as lawmakers scrutinize stablecoins

Circle CEO Jeremy Allaire testifies before the House Financial Services Committee on December 8, 2021.House Services Financial Committee Circle's USDC stablecoin is "100%" backed by cash and US debt, the company's CEO said Wednesday.  Circle CEO Jeremy Allaire and other crypto executives testified before Congress on Wednesday.  Circle shifted the composition of the reserves backing its USDC in September. Digital payments company Circle told a House committee on Wednesday its USDC sta...
Tags: New York, Congress, US, Trends, Markets, Paypal, United States, House, Cryptocurrencies, Circle, Velázquez, House Financial Services Committee, USDC, New York Department of Financial Services, Allaire, Nydia Velazquez


Robinhood's chief legal officer says 'it's a stretch' to believe crypto legislation is coming anytime soon

Jakub Porzycki/Getty Images Robinhood's chief legal officer said crypto legislation wasn't likely anytime soon. He said the congressional hearing Wednesday would be more informative for the SEC. "It's a stretch to believe that there will be legislation" on crypto anytime soon, he added. Robinhood's chief legal officer said new legislation directed at the cryptocurrency market likely wasn't on the horizon.In a Wednesday interview with CNBC, Robinhood's Daniel Gallagher ...
Tags: UK, Congress, Trends, Markets, Bitcoin, SEC, Cryptocurrencies, Robinhood, Financial Times, Cnbc, Securities And Exchange Commission, Gensler, House Financial Services Committee, Gallagher, Gary Gensler, FTX


The CIA confirms rumors that it's working on cryptocurrency projects

CIA Director William Burns.Graeme Jennings/Pool via AP At the Wall Street Journal CEO Council Summit on Monday, CIA Director William Burns confirmed the agency is running several cryptocurrency-related projects  Burns said the agency is monitoring the digital asset and ransomware space. It was Burns' predecessor who set the cryptocurrency projects into motion to look at various consequences of cryptocurrencies. It's official: the Central Intelligence Agency is involved in crypto. Duri...
Tags: Trends, Markets, Ap, Bitcoin, Crypto, David Cohen, Cia, Central Intelligence Agency, Wall Street Journal, Cryptocurrency, Burns, William Burns, Phil Rosen, MI Exclusive, William Burns Graeme Jennings


An anonymous bitcoin whale reportedly bought $150 million worth of the cryptocurrency during its recent price crash

BitcoinParilov An anonymous bitcoin holder bought more than $150 million during the digital currency's recent plunge, The Independent reported.  The third-largest holder of bitcoin now has about $6 billion of the cryptocurrency.  Bitcoin's price crashed by nearly 30% over the weekend but has been recovering since the drop.  A big holder of bitcoin scooped up millions of dollars worth of the cryptocurrency during its recent crash that pushed the price down by nearly 30% to below $50,00...
Tags: Trends, Markets, Bitcoin, Federal Reserve, Carla Mozee, Bitcoin Crash, MI Exclusive, Cryptocurrency Bitcoin, Bitcoin Whale, Bitcoin Price Crash, Bitcoin Whale $150 Million, Bitcoin Crypto Crash


Regulators are taking steps to increase oversight of retail investors' ability to make risky options bets

John W Banagan/Getty ImagesJohn W Banagan/Getty Images FINRA will soon take the first steps to possibly enhance rules for risky options trading.  The industry regulator will post a request for comment in the coming weeks to get feedback on options rules.  The move comes as many retail investors pile into options, riding the wave of stock-market enthusiasm during the pandemic. Regulators are set to take early steps in beefing up rules for options trading, looking to better protect retail inves...
Tags: Cook, Trends, Markets, Regulators, SEC, Wall Street Journal, Robinhood, WSJ, FINRA, Options, US Securities and Exchange Commission, Financial Industry Regulatory Authority, Robert Cook, Caroline Crenshaw, Options Investing, Natasha Dailey


An anonymous bitcoin whale reportedly bought $150 million worth of the cryptocurrency during price crash

BitcoinParilov An anonymous bitcoin holder bought more than $150 million during the digital currency's recent plunge, The Independent reported.  The third-largest holder of bitcoin now has about $6 billion of the cryptocurrency.  Bitcoin's price crashed by nearly 30% over the weekend but has been recovering since the drop.  A big holder of bitcoin scooped up millions of dollars worth of the cryptocurrency during its recent crash that pushed the price down by nearly 30% to below $50,00...
Tags: Trends, Markets, Bitcoin, Federal Reserve, Carla Mozee, Bitcoin Crash, MI Exclusive, Cryptocurrency Bitcoin, Bitcoin Whale, Bitcoin Price Crash, Bitcoin Whale $150 Million, Bitcoin Crypto Crash


US stocks trade mixed following massive rally on receding Omicron fears

Xinhua News Agency/Getty Images Major US stock benchmarks were mixed on Wednesday following a massive Tuesday rally. Pfizer and BioNTech said data indicate a third dose of their vaccine neutralizes the Omicron coronavirus variant.  The S&P 500's rebound from the Omicron sell-off leaves the index up about 26% in 2021.  US stocks were mixed on Wednesday after a big rally in the previous session as concerns about the impact of the Omicron coronavirus variant on the global economy ebbed. Stoc...
Tags: US, Trends, Markets, Stocks, Goldman Sachs, West Texas Intermediate, Pfizer, Santa, S&P 500, Dow Jones Industrial Average, Fed, Nasdaq Composite, Chris Beauchamp, David Solomon, Carla Mozee, First Trust


Nasdaq soars 3% as US stocks erase nearly all Omicron losses

Traders work on the floor of the New York Stock ExchangeAndrew Burton/Getty Images US stocks soared on Tuesday as fears surrounding the Omicron virus faded.Early data from GlaxoSmithKline shows that its antiviral drug retains activity against the variant.Oil prices surged on Tuesday as investors now see little chance of Omicron disrupting the economic recovery from the pandemic.US stocks surged on Tuesday, with the Nasdaq jumping over 3% and recovering all of last week's losses as fears of...
Tags: US, Trends, Markets, Merck, GlaxoSmithKline, Pfizer, Stock Market, S&P 500, Dow Jones Industrial Average, NFT, Terra, Matthew Fox, Alexandria Ocasio Cortez, Cathie Wood, ARK Invest, Stock Market News


Ubisoft becomes the first major video game developer to launch in-game NFTs

Ubisoft logo displayed on a phone screenJakub Porzycki/NurPhoto via Getty Images Ubisoft said it is releasing the first playable, energy-efficient NFTs in a video game. PC players will have access to the NFTs, called Digits, this week when Ubisoft begins beta testing with Ghost Recon: Breakpoint. The tokens will be unique collectibles and allow players to "complete missions with style." Ubisoft is breaking ground in the video game industry with the first-ever playable NFTs that users can coll...
Tags: Video Games, Trends, Markets, Crypto, Ubisoft, Tom Clancy, NFT, NFTS, Ghost REcon, Phil Rosen, MI Exclusive, Getty Images Ubisoft, Ubisoft Quartz Players, Ubisoft Quarts, Baptiste Chardon


Roblox has added nearly $26 billion to its market cap as metaverse mania pushes its value past brands like FedEx and Ferrari

SOPA Images / Contributor / Getty ImagesSOPA Images / Contributor / Getty Images Roblox is now worth $68 billion — a jump from its public debut valuation in March of $42 billion. The 70% rally since March has made the online gaming company worth more than FedEx. Its CEO said the platform's uses in the metaverse will expand to town halls and conferences. Roblox has added $26 billion to its valuation since going public in March, making it worth more than brands like FedEx and Ferrari. An on...
Tags: Gaming, Facebook, New York, Trends, Markets, Bloomberg, Ferrari, Bmw, Wall Street Journal, Fedex, Roblox, David Baszucki, Metaverse, Roblox IPO, Natasha Dailey, Roblox stock


Investors bought $6.7 billion of stocks in last week's Omicron dip, the highest inflow in 4 years, according to Bank of America

Traders work on the floor of The New York Stock ExchangeSpencer Platt/Getty Images Bank of America said Tuesday investors poured $6.7 billion into US stocks during last week's slide.  That amount marked the highest inflows since 2017, with institutions, hedge funds and private clients piling in.  The S&P 500 has been rebounding since the weekly drop of 1.2%.  Investors took advantage of a recent sell-off in stocks sparked by the emergence of the Omicron coronavirus variant by pushing near...
Tags: US, Trends, Markets, Bank Of America, South Africa, Stocks, BofA, Carla Mozee, MI Exclusive, Stocks Omicron, Stocks Selloff Omicron, Stocks Etfs Omicron Coronavirus, Investors Buy The Dip, Stocks Inflows, stocks Bank of America


Iceland is turning away new bitcoin miners as island nation deals will power crunch

Bjarnarflag Geothermal power station / Bjarnarflagsvirkjun, operated by Landsvirkjun near Námafjall Mountain in the geothermal area of Mývatn, Iceland.Sven-Erik Arndt/Arterra/Universal Images Group via Getty Images Iceland's main utility is turning away new bitcoin miners as it deals with a power crunch, Bloomberg reported Tuesday.  Iceland has attracted bitcoin miners in need of cheap electricity to scour for new coins.  The Landsvirkjun utility has also reduced power supplies to some in...
Tags: Hong Kong, Trends, Markets, Bloomberg, Iceland, Federal Reserve, Carla Mozee, Landsvirkjun, MI Exclusive, Iceland bitcoin miners, Iceland power crunch bitcoin, Iceland bitcoin cryptocurrency, Iceland bitcoin, Bjarnarflagsvirkjun, Námafjall Mountain, Getty Images Iceland


MongoDB spikes 21% after the database provider crushes quarterly earnings estimates

MongoDB MongoDB shares jumped as much as 21% Tuesday following a better-than-expected earnings report.  Revenue from Atlas jumped 84%, with Coinbase moving more workloads to the cloud database service.  MongoDB went public in 2017 with a $1.6 billion valuation and is now worth about $33 billion.  Shares of MongoDB spiked as much as 21% Tuesday after the database provider crushed quarterly earnings estimates.The New York-based company said in its third-quarter results that sales jumped 50% year...
Tags: Google, New York, Trends, Markets, Atlas, Reddit, Earnings, Fidelity, Silicon Valley, Nasdaq, Mongodb, Coinbase, Cnbc, Databricks, Database, Amazon Microsoft


Ray Dalio caught some heat for recent comments on Chinese human rights. Here's what he said about the matter in his new book.

Ray Dalio. Hollis Johnson/Business InsiderHollis Johnson/Business Insider Billionaire investor Ray Dalio addessed Chinese human rights in his new book.  He said it's "probably impossible to force" other countries to change their actions. The Bridgewater Associates boss recently clarified comments about China's practice of taking certain citizens out of the public eye. Ray Dalio — the billionaire founder of Bridgewater Associates, the world's largest hedge fund — came under fire la...
Tags: China, US, Trends, Markets, Connecticut, Billionaires, Cnbc, China Human Rights, US China, Ray Dalio, Dalio, Bridgewater Associates, Ray Dalio Hollis Johnson, Natasha Dailey, MI Exclusive, InsiderHollis Johnson Business Insider Billionaire


A computer scientist claiming he created bitcoin will hold onto $54 billion of the cryptocurrency after civil lawsuit

Dr. Craig Wright arrives at the Federal Courthouse, Tuesday, Nov. 16, 2021, in Miami.AP Photo/Marta Lavandier A computer scientist claiming to be bitcoin's creator will keep a cache of 1.1 million bitcoins following the end of a civil lawsuit Monday.  A Florida jury found in favor of computer scientist Craig Wright in a case brought against him by the family of his deceased business partner.  Wright said the jury's decision vindicates him as the creator of the world's most valuabl...
Tags: Florida, London, Trends, Markets, Bloomberg, Miami, Ira, Cnbc, Craig Wright, Wright, Nakamoto, Kleiman, Carla Mozee, David Kleiman, Satoshi Nakamoto Wright, W K Info Defense Research LLC


These are the 10 most popular stocks on Reddit's WallStreetBets forum

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images Reddit's WallStreetBets forum entered the mainstream during the January GameStop craze. Driving stocks like GameStop and AMC Entertainment, retail investors congregating on the subreddit are a force in the stock market.These are the 10 most popular stocks WallStreetBets is talking about right now.Following which stocks Reddit's WallStreetBets crowd is talking about this year has paid off, as several have gone through epic r...
Tags: Apple, Trends, Markets, Getty Images, Reddit, Nvidia, Amd, Alibaba Group, Stock Market, Traders, Gamestop, Reuters, Intel Corporation, Chandler Arizona, Spencer Platt Getty Images, VCG


Cathie Wood's nightmarish 2021: Ark Innovation has plunged 24% as tech has crashed, with 6 out of 8 Ark funds in the red

Superstar stock-picker Cathie Wood is having a bad 2021.Photo by PATRICK T. FALLON/AFP via Getty Images Cathie Wood's Ark Invest ETFs have taken a hammering in December as investors have avoided tech stocks. With the Fed set to raise interest rates, suddenly, other parts of the market are starting to look more attractive. Ark's Innovation ETF is now down 23.7% for the year, and six out of eight of Ark's ETFs are in the red. Cathie Wood's 2021 has gone from bad to worse in Dece...
Tags: Interest Rates, Trends, Investing, Markets, Tesla, Bloomberg, Federal Reserve, Wood, Saxo Bank, Investor, Cnbc, Fed, Patrick T Fallon, Saxo, Tapering, Tech Stocks


US stocks extend rebound as Omicron fears recede and early antiviral data suggests effectiveness against variant

A stock trader claps at the end of trade at the New York Stock ExchangeEMMANUEL DUNAND/AFP via Getty Images US stocks soared on Tuesday, extending its rebound as fears of Omicron start to recede.Early data from GlaxoSmithKline shows that its antiviral drug retains activity against the variant.Oil prices surged on Tuesday as investors now see little chance of Omicron disrupting the economic recovery from the pandemic.US stocks soared on Tuesday, with the Nasdaq jumping nearly 2% as fears of the...
Tags: US, Trends, Markets, Merck, GlaxoSmithKline, Pfizer, Stock Market, S&P 500, Dow Jones Industrial Average, Afp, Matthew Fox, Alexandria Ocasio Cortez, Cathie Wood, ARK Invest, Getty Images Us, Stock Market News


10 things before the opening bell

Investors have been facing market volatility thanks to the new Omicron variant.Xinhua News Agency/Getty Images Welcome to 10 Things Before the Opening Bell.If this was forwarded to you, sign up here. Plus, download Insider's app for news on the go – click here for iOS and here for Android.Let's jump in. 1. Omicron and the US economy. The new virus variant — which has now spread to one-third of US states — may end up stemming the inflationary tide that's gripped the economy. That...
Tags: Apple, Florida, Texas, Amc, US, Newsletter, Trends, Markets, Tesla, Ubs, Tom Brady, SEC, Goldman Sachs, 10 Things, Jpmorgan, AutoZone


Dow climbs 646 points as investors see lower threat from Omicron variant

TIMOTHY A. CLARY/AFP via Getty Images The Dow Jones Industrial Average tacked on more than 600 points Monday in a rebound from last week's volatility.  Investors appeared to set aside worries about the Omicron strain of coronavirus.  Reports over the weekend indicate the latest virus variant is producing mild symptoms in patients.  US stocks ended Monday's session sharply higher, shifting into recovery mode as investors appeared to embrace reports that the most recent variant of coron...
Tags: Japan, US, Trends, Markets, South Africa, Delta, Stocks, S&P 500, Dow Jones Industrial Average, Securities And Exchange Commission, Baird, Nasdaq Composite, Mayfield, Carla Mozee, Timothy A Clary, Lucid Motors


BuzzFeed falls 11% in trading debut after going public in merger with blank check firm

BuzzFeed employees work at the company's headquarters in New York on January 9, 2014.Brendan McDermid/Reuters Digital media outlet BuzzFeed began trading on Monday following its SPAC merger.  BuzzFeed shares initially surged but then slumped as much as 31%.  The company saw a wave of investor withdrawals before it went public, the Wall Street Journal reported. Shares of BuzzFeed soared — and then sunk — Monday after the digital media company went public in a merger with a special purpose ...
Tags: New York, Buzzfeed, Trends, Markets, Digital Media, Jonah Peretti, Wall Street Journal, Cnbc, SPAC, HuffPost, BuzzFeed News, Complex Media, Peretti, Complex Networks, Public Offering, SPACs


The decentralization promised by DeFi is an 'illusion' and a threat to global financial stability, BIS warns

Tether, USD Coin, and Dai are the three largest stablecoins by market capitalization, according to the price-tracking website CoinMarketCap.Muhammed Akan/Shutterstock DeFi poses risks to global financial stability and 'systemic regulation' is needed, the Bank for International Settlements said Monday.  Decentralized finance "appears to be operating largely within its own ecosystem," the institution said in a quarterly report.  The DeFi market has boomed beyond a $100 billion valuation...
Tags: Trends, Markets, Bank Of International Settlements, Bis, Bank for International Settlements, Dai, Carla Mozee, Défi, MI Exclusive, Defi Bank Of International Settlements, DeFi cryptocurrencies BIS report, DeFi BIS report, DeFi illusion BIS report


These are the 9 stocks with the highest correlation to bitcoin and ethereum, according to JPMorgan

MicroStrategy CEO Michael SaylorJoe Raedle/Getty Images The lack of a spot bitcoin ETF means some investors are looking for other ways to gain exposure to cryptocurrencies.Investors can buy stocks that have exposure to the crypto sector via mining and direct holdings.These are the 9 stocks with the highest correlation to bitcoin and ether, according to JPMorgan.Other than buying it directly, US-based investors have few options to gain exposure to cryptocurrency tokens like bitcoin and ether.Wh...
Tags: US, Trends, Markets, Bitcoin, Crypto, SEC, Stock Market, Cryptocurrencies, Ethereum, Jpmorgan, MicroStrategy, Matthew Fox, Ether, Analyst Note, Stock Market 2021, MI Exclusive


Moderna, BioNTech plunge as Bernie Sanders slams 'obscene' profits and tells drug makers to share COVID-19 vaccines with the world

Democratic presidential candidate Sen. Bernie Sanders (I-VT) speaks to the media after boarding the plane at the Des Moines International Airport on February 04, 2020 in Des Moines, Iowa. Mr. Sanders was heading to Manchester, New Hampshire to campaign leading up to the primary on February 11 as he awaits the release of the results from the Iowa caucus.Joe Raedle/Getty Images Moderna and BioNTech plunged more than 16% on Monday amid a critical tweet from Senator Bernie Sanders.Sanders highligh...
Tags: Finance, US, Trends, Markets, Iowa, Trading, Pfizer, Stock Market, Vermont, Bernie Sanders, Movers, Sanders, Sen Bernie Sanders, DES MOINES Iowa, Manchester New Hampshire, Des Moines International Airport


Luna is now the 10th largest cryptocurrency, soaring past dogecoin, avalanche, and shiba inu

A partial lunar eclipse in Brasilia, Brazil, July 16, 2019. Ueslei Marcelino/ReutersUeslei Marcelino/Reuters Terraform Labs' luna has taken the spot as the 10th largest cryptocurrency by market cap. It's now worth $25 billion, compared with bitcoin's near trillion-dollar valuation. The token has surged as DeFi traders look for a cheaper, faster alternative to ethereum. Terraform Labs' luna has soared into the top 10 cryptocurrencies by market capitalization — beating out the p...
Tags: Trends, Markets, Avalanche, Fortune, Luna, Brasilia Brazil, Coinmarketcap, Dogecoin, Shiba Inu, Natasha Dailey, Shiba Inu Coin, Meme Coins, CoinGecko Avalanche


Lucid Motors drops as luxury electric vehicle maker receives SEC subpoena

Lucid Motors Lucid Group shares dropped Monday to a one-month low after the company said it received a subpoena from the SEC.  The SEC's investigation appears focused on the tie-up between Lucid and Atieva.  Atieva was founded as a battery technology company in 2007.  Lucid Group sharply dropped Monday after the luxury electric vehicle maker said it's received a request for information from the Securities and Exchange Commission, a move coming a few months after the company went publi...
Tags: Trends, Markets, Tesla, SEC, Securities And Exchange Commission, Lucid, SPAC, Atieva, Carla Mozee, Lucid Motors, Bernard Tse, Sam Weng, Lucid Group, Lucid Lucid Motors, Churchill Capital Corp, MI Exclusive


Tesla falls on report the SEC is investigating a whistleblower's complaint about solar panel defects

Tesla solar panels on top of a hospital roof in San Juan, Puerto Rico.REUTERS/Alvin Baez Tesla shares fell by more than 6% on Monday following a Reuters report about an SEC investigation into the company.  The SEC is looking into a whistleblower's complaint that Tesla and SolarCity didn't publicly disclose risks associated with solar panels.  Tesla acquired SolarCity in 2016. Tesla stock dropped to a six-week low Monday after Reuters reported the Securities and Exchange Commission is ...
Tags: US, Trends, Markets, Tesla, SEC, Solarcity, Securities And Exchange Commission, Reuters, SAN JUAN Puerto Rico, National Highway Traffic Safety Administration, Carla Mozee, Tesla Energy, Tesla SolarCity, Tesla Solar Panels, Tesla stock price, Tsla Stock Price