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This Family Bet Everything on Bitcoin When It Was $900 – and Bought More When It Crashed in 2018
This family sold everything it owned in 2017 to make a big bet on bitcoin. Four years and 40 countries later, and it’s still all in on cryptocurrencies.
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Buffett Is Buying Back More Berkshire Stock This Year After Record $25 Billion Repurchase in 2020
During the fourth quarter the company bought back around $9 billion of Berkshire shares, bringing the total 2020 repurchase to a record $24.7 billion.
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Read Warren Buffett's Annual Letter to Berkshire Hathaway Shareholders
Warren Buffett released his annual letter to Berkshire Hathaway shareholders on Saturday.
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Lydall CEO Expects Demand Boom for Filtration Material Used in N95 Masks and Indoor Systems Beyond the Pandemic
“The demand for higher-performing specialty filtration solutions will dwarf the demand that we’re seeing today for PPE,” Lydall CEO Sara Greenstein said on CNBC.
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Virgin Galactic Stock Falls After Test Flight Delays Push Back Debut of Space Tourism Service
Virgin Galactic shares fell after the company revealed delays to its test flight program, with the launch of its commercial service pushed to 2022.
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10-Year Treasury Yield Retreats From One-Year High
The 10-year U.S. Treasury yield retreated on Friday morning, but remained above the 1.4% mark, after surging to 1.6% in the previous session.
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Art Cashin Expects More Stock Pain as Traders Worry About Fed Losing Control of Bond Market
Wall Street veteran Art Cashin told CNBC that investors need to be careful and brace for more volatility as bond yields rise.
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Personal Income Leaps 10% in January Thanks to Stimulus, But Inflation Still in Check
Personal income saw its biggest monthly gain since April 2020 though inflation remained tame, the Commerce Department reported Friday.
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Coinbase Prospectus Lacks Key Trading Details for Investors Who Want in on the Direct Listing
In Coinbase’s direct listing prospectus on Thursday, the company provided almost no indication about how private investors value the stock.
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Britain Should Overhaul Listings to Boost Its $15 Billion Fintech Sector Post-Brexit, Review Says
Britain is one of the leading players in fintech globally, attracting $4.1 billion in venture capital investment last year.
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Texas Freeze Helps Rival Oil Exporters Like Saudi Arabia ‘Tremendously,' May Influence OPEC Decisions
Analysts estimate the total volume of oil lost to the Texas winter storm at anywhere between 18 million and 40 million barrels.
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Trading Tax Hike Won't Harm Competitiveness of Hong Kong's Stock Market, Says Financial Secretary
Hong Kong’s Financial Secretary Paul Chan said on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%.
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China's Economy Could Double in Size by 2035 — and Surpass the U.S. Along the Way
China would surpass the U.S. as the world’s largest economy around 2027-2028, said an economist from the Bank of America.
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U.S. Partners in Asia May Not Wait Around as Biden Prioritizes Domestic Issues
In recent years, Asia-Pacific countries have signed two mega trade agreements — the CPTPP and RCEP — that exclude the U.S.
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BlackRock Bond Expert Explains Where Not to Put Your Money Right Now
In light of the pace of Covid-19 vaccine rollouts and potentially hefty fiscal stimulus in the U.S., the BlackRock Investment Institute is opting for a more risk-on approach in 2021.
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The Bond Market Is Betting on a Red Hot Economy and Stocks Don't Like It
Growing inflation concerns, optimism the economy could surge and some technical factors are combining to drive interest rates higher at a rapid clip.
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Nvidia CEO Confident in Company's Growth Prospects Even If Arm Acquisition Does Not Happen
Nvidia CEO Jensen Huang told “Mad Money” host Jim Cramer that the company would “be huge no matter what.”
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Twitter CFO Says Company Is Confident About Strategy to Double Revenues in Two Years
As Twitter plans to double its user base and revenues by 2023, CFO Ned Segal said it seeks to tap a $150 billion addressable digital ad market.
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Virgin Galactic Delays Next Spaceflight Test to May, With Commercial Service Launch Pushed to 2022
Virgin Galactic delivered fourth quarter results after the market closed on Thursday, with the company disclosing its next spaceflight test is delayed to May.
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DoorDash Stock Falls After Company Drops First Earnings Report Since Going Public
DoorDash stock fell Thursday after the company dropped its first earnings report since going public in December.
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Dow Falls 560 Points Amid Surging Yields, Nasdaq Sheds 3.5% in Worst Sell-Off Since October
Investors continued to keep an eye on the rise in bond yields, which weighed on stocks recently.
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Data Firm That Monitors Reddit Says It Saw GameStop Mentions Spiking Days Ago
Thinknum co-founder Justin Zhen told CNBC that his data firm started to see GameStop mentions spike before shares took off Wednesday.
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Why Stock Investors Are Starting to Really Worry About Rising Bond Yields
Fear of inflation is causing investors to speculate the Fed may have to shift policy sooner than expected.
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10-Year Treasury Yield Jumps to a One-Year High of 1.6%, a Rapid Move Unnerving Investors
The 10-year traded as high as 1.614% during the session, which was the highest level since Feb. 14, 2020.
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Stocks Just Got Some New Competition From Bonds as 10-Year Rate Tops Dividend Yield
The 10-year Treasury yield soared more than 16 basis points to a high of 1.614%, rising above the S&P 500’s dividend yield of 1.43%.
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GameStop Shares Gain More Than 18%, Halted Multiple Times as Reddit Favorites Swing Wildly
Shares of GameStop climbed on Thursday as heavily-shorted stocks favored by Reddit traders look set for a resurgence.
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Relativity Space Unveils a Reusable, 3D-Printed Rocket to Compete With SpaceX's Falcon 9
Relativity Space, the 3D-printing rocket builder, is making another big bet: Developing a fully reusable rocket.
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Virgin Galactic Replaces CFO, Adds New Engineering Leadership Ahead of Earnings Report
Virgin Galactic announced a leadership shake-up, with the space tourism company set to report its fourth-quarter earnings after the bell.
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Robinhood Offers Blistering Retort to ‘Elitist' Criticisms From Munger
Robinhood has fired back at Charlie Munger, who earlier this week said the free trading app was having a “regrettable” impact.
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Coinbase Files for Direct Listing After Revenue More Than Doubles in 2020
Coinbase’s filing showed that it made more than $1.1 billion in net revenue last year.
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Here's Why Jobless Claims Are the Wrong Way to Understand Unemployment in the U.S.
The U-3 is considered the standard for measuring unemployment, but not everyone agrees the metric is a comprehensive picture U.S. unemployment.
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Robinhood Is Still on Track for a Hot IPO Despite the GameStop Uproar
Robinhood’s ability to navigate the GameStop trading chaos bodes well for its upcoming IPO.
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Charlie Munger Says Novice Investors Are Getting Lured Into a Bubble in ‘Dirty Way' by Robinhood
The 97-year-old investor said retail traders are enticed by brokers touting free trading.
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Wayfair Sales Come Up Short, But the Retailer Says Demand for Home Goods Online Is Strong
Wayfair gained more customers during the fourth quarter, but they bought smaller, less-expensive items, dragging down average order values.
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Weekly Jobless Claims Drop Sharply But Labor Market Remains Challenged
First-time claims for unemployment insurance fell to 730,000 last week, well below the expected 845,000.
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Stock Markets ‘Look Frothy,' But Standard Chartered CEO Sees No Reason to Panic Over Inflation
Standard Chartered on Thursday warned stock market valuations appear to have reached unsustainable levels amid a period of “speculative hype.”
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Hong Kong's Trading Tax Hike Spurred Markets Into a ‘Healthy Correction,' Says Goldman Sachs
Hong Kong’s markets tumbled on Wednesday following the announcement of an increase in the stamp duty on stock transfers to 0.13% from 0.1%.
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Investors Are Turning Bullish on Italy as Draghi Prepares New Reforms
The former European Central Bank chief has ambitious plans to reform the country and that is making investors bullish on Italian stocks.
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GameStop Shares Soar More Than 100% Amid Executive Shuffle
GameStop announced Wednesday that its chief financial officer Jim Bell will resign on March 26.
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Watch Now: ETF Edge on What's Ahead in the Space Race as Cathie Wood's Ark Bets Big
CNBC’s ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.
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Buy the Dips as Stocks Experience a Long Overdue Pullback, Strategist Says
A decline in many stock markets has been overdue, but strong fundamentals and company earnings mean the current wobble is a buying opportunity, says State Street’s Mehvish Ayub.
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10-Year Treasury Yield Tops 1.4%, Highest Since February 2020
U.S. Treasury yields fell on Wednesday morning, ahead of Federal Reserve Chairman Jerome Powell’s second speech on the economy later that day.
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Wall Street Clearing Firm Proposes 1-Day Trade Settlement After Robinhood Controversy
A spotlight appeared on the two-day settlement standard following the epic short squeeze in GameStop stock earlier this year.
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MicroStrategy Buys More Than $1 Billion Worth of Bitcoin, Adding to Massive Holdings
MicroStrategy said the average purchase price of all its bitcoin purchases is $23,985 per digital token
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This Payment Stock Will Benefit Most From the Economic Reopening, Money Manager Says
Visa has “the biggest catalyst ahead” in the payments space as the economy slowly reopens, says Strategic Wealth Partners’ Mark Tepper.
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Commentary: The Fed Has a Simple Tool It Can Deploy to Curb Market Speculation
The Federal Reserve has the power to regulate brokers’ margin rates under Regulation T, but it hasn’t used that power since 1974.
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China's PBOC Joins Cross-Border Digital Currency Project With Other Central Banks
One analyst said the People’s Bank of China’s involvement in the project hints at its long-term intentions to internationalize the yuan.
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Chinese Court Rules That a Woman's Housework Is Worth $128 a Month
The decision for a 50,000 yuan payout for five years of household work was made under China’s new civil code that took effect in January.
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Hong Kong Announces Over $15 Billion Budget to Lift Economy Out of Recession
Financial Secretary Paul Chan said the spending is expected to contribute to a budget deficit of 101.6 billion Hong Kong dollars ($13.1 billion).
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A U.S. Strategy Paper on China Draws a Tepid Response in Beijing
“The Longer Telegram” and its call for stringent U.S. policy on China caught the attention of many in Washington, but only a passing public response in Beijing.
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JPMorgan Says Rising Bond Yields Are ‘Healthy Signs' and May Benefit Asia
JPMorgan Private Bank’s Julia Wang says rising bond yields as well as some inflation at this point in the economic cycle are “healthy signs.”
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Yellen Sounds Warning About ‘Extremely Inefficient' Bitcoin
Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public.
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Tesla's Share Price Is Now Directly Tied to the Value of Bitcoin, Analyst Says
Tesla’s stock is now directly linked to the price of bitcoin after Elon Musk’s firm invested $1.5 billion into the cryptocurrency, according to an analyst.
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Workhorse Group Drops Nearly 50% After EV Company Is Passed Over for USPS Contract
Shares of Workhorse Group dropped more than 50% at one point on Tuesday after the company was passed over for a key contract from the U.S. Postal Service.
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New Rules Make It Easier for Struggling Student Loan Borrowers to Access PPP Loans
One of the changes to PPP loans that the Biden administration announced this week include allowing struggling student loan borrowers to qualify.
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Treasury Yields Mixed After Fed Chair Powell Says Inflation Is Still ‘Soft'
U.S. Treasury yields rose on Tuesday morning, ahead of Federal Reserve Chairman Jerome Powell’s first of two speeches in Congress on the economy.
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Snap Stock Pops as Company Tells Investors It's on Track for Several Years of 50% Growth
Shares of Snap reversed a decline on Tuesday after it announced that is in position to drive multiple years of revenue growth of more than 50%.
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These Trucking Companies Are Offering Full Benefits and $50,000 Pay to Attract New Talent
Trucking companies may be facing a driver shortage in 2021. Here’s an inside look at an industry in need of new applicants.
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A Recap of Fed Chair Powell's Inflation and Interest Rates Comments to the Senate
Federal Reserve Chair Jerome Powell delivers his semiannual monetary policy report to Congress this week starting in the Senate.
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Short Sellers Help Stocks Find Their True Values and Expose Fraud, Despite the Hate They Receive
Gamestop’s recent short squeeze has put extra attention on stock shorting. Here’s why that’s legal and some argue, a necessary part of the market.
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Cryptocurrency Firms Tether and Bitfinex Agree to Pay $18.5 Million Fine to End New York Probe
New York’s top law enforcement official had been investigating Tether and Bitfinex over allegations that they tried to cover up $850 million in losses.
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Expensive, Massive and Lethal: The Future of the Aircraft Carrier
The aircraft carrier has been the cornerstone of American security for close to a century, but will it remain on top?
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Asia's Top-Performing Economy in 2020 Could Grow Even Faster This Year
Taiwan’s economy grew 3.11% in 2020 compared to a year ago — outpacing China’s 2.3% expansion during the same period.
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ON Semiconductor CEO Expects Auto Chip Backlog to End by Third Quarter
Amid high demand for and low supply of semiconductors threatening car production, ON Semiconductor CEO Hassane El-Khoury gave his outlook for the end market.
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Watch the First Ever Video of NASA Landing a Rover on Mars
NASA released first-of-its-kind video of its Perseverance rover touching down on the surface of Mars.
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Treasury Yields Rise in Choppy Trading
U.S. Treasury yields bounced between gains and losses on Monday morning before rising in the afternoon.
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Nasdaq Closes 2.5% Lower as Big Tech Gets Hit, Economic Comeback Plays Lift Dow
Some equity investors are concerned about rapidly rising bond yields in recent weeks.
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25 Highest-Paid Hedge Fund Managers Made $32 Billion in 2020, a Record
The record payday is likely to draw criticism over hedge fund pay and fairness in financial markets.
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Elon Musk Says SpaceX ‘Will Double' Starlink Satellite Internet Speeds Later This Year
SpaceX CEO Elon Musk says its Starlink satellite internet service “will double” speeds to customers “later this year.”
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Tesla Has Made About $1 Billion in Profit on Its Bitcoin Investment, Analyst Estimates
Tesla disclosed earlier this month that it had bought $1.5 billion worth of bitcoin.
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China's Foreign Minister Calls for the U.S. to Remove Tariffs and Sanctions
Chinese Foreign Minister Wang Yi laid out specific requests for U.S. President Joe Biden’s administration as the two countries navigate a tense relationship.
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‘Explosion of Economic Activity' May Put Inflation Fears in Check. Here's Why
National Securities’ Art Hogan explains why he’s brushing off inflation jitters.
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State of Texas Should Pay for Enormous Energy Bills After Power Outages, Houston Mayor Says
As power resumes for most of Texas, some households now face utility bills as high as $10,000.
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Biden Declares Major Disaster in Texas, More Than 15 Million Told to Boil Water After Power Failure
President Joe Biden has approved a major disaster declaration for Texas as the state grapples with widespread power outages and water shortages.
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Elon Musk Says Bitcoin Seems High After Surpassing $1 Trillion Market Value
The price of bitcoin crossed a major milestone Friday after the market value reached more than $1 trillion, leaving some major backers surprised.
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Texas Grid Operator Says It's Now Under Normal Conditions, Millions Still Under Boil-Water Notice
The severe winter weather continues to wreak havoc on Texas.
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Treasury Yields Rise Amid Concerns About Higher Inflation
Treasury yields climbed on Friday morning, amid concerns about the possibility of higher inflation.
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What's Behind SpaceX's $74 Billion Valuation: Elon Musk's Two ‘Manhattan Projects'
Elon Musk’s SpaceX is now worth $74 billion and investors believe the company’s Starlink and Starship projects will drive that valuation even higher.
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‘Flat Out False' — Ken Griffin Says Citadel Doesn't Use Personal Information From Retail Investors
Citadel CEO Ken Griffin disputed claims that market makers like Citadel Securities obtain and use person information of retail investors.
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Ex-TD Ameritrade CEO Says It's Never Been Easier for Retail Investors to Compete With Wall Street Pros
“The playing field between the retail and the institutional investor is more level than I’ve ever seen it,” said former TD Ameritrade CEO Fred Tomczyk.
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AOC Wants Robinhood to Give Customers the Profits From Payment for Order Flow. Here's What She's Talking About
Rep. Alexandria Ocasio-Cortez, D-N.Y., called for a pledge from Robinhood’s CEO to give customers the brokerage’s payment for order flow profits.
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Fed's Williams Say High Market Prices Justified by Economic Growth and Low Rates
Major averages have managed to build on 2020’s gains despite some nerve-jangling volatility.
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‘Roaring Kitty' Keith Gill Defends GameStop Posts, Says He Is as Bullish as Ever on the Stock
Keith Gill — who goes by DeepF——Value on Reddit and Roaring Kitty on YouTube — helped inspire the epic short squeeze in GameStop.
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Ex-SEC Chief: Reddit-Fueled GameStop Frenzy Was Not a Modern-Day Pump-And-Dump Scheme
“People were very transparent about what they were doing and why they were doing it,” former SEC chief Jay Clayton told CNBC on Friday.
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Ken Griffin Says He Doesn't See the ‘Economic Underpinning' of Cryptocurrencies
“I don’t know how to think about what is effectively a digital token,” said Griffin, founder and CEO of Citadel.
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Texas Grid Failure Ignites Feud Over Republican Oversight of the Energy Industry
The Texas grid failure that’s left millions without power has fueled outrage over Republicans’ decades-long oversight of the state’s energy industry.
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Satellite Imagery Specialist BlackSky Is Going Public in Latest Space SPAC
Seattle-based BlackSky is the latest space venture that will soon begin trading publicly, with the company on Thursday announcing a SPAC deal.
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Rise in Treasury Yields Prompts Speculation of a ‘Tantrum' for Markets
The recent rise in bond yields and U.S. inflation expectations has some investors wary that a repeat of the 2013 “taper tantrum” could be on the horizon.
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South Africa Readies ‘Most Important' Budget Yet as Recovery Hangs in the Balance
South African Finance Minister Tito Mboweni will deliver the country’s 2021 budget on Thursday, facing fiscal pressures in the wake of the coronavirus pandemic.
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Japan's Stocks Have Outperformed Europe — But Investors Are Still Not Seeing Its Potential, Say Strategists
Japanese stocks have outperformed their European peers for years, but investors have yet to realize its potential, strategists told CNBC.
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Reddit CEO Defends Platform's Role in GameStop Surge
Testifying before Congress Thursday, Steve Huffman said financial advice from Reddit users may even be more reliable than since it’s vetted by the community.
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Watch NASA's Rover Perseverance After Landing on Mars
NASA is hours away from its most ambitious Mars mission yet, with the U.S. space agency set to attempt to land rover Perseverance.
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Citadel's Ken Griffin Defends Controversial Wall Street Practice, Says Firm Would Adapt If It Were Outlawed
While new information was limited, some clarity on Robinhood’s restriction of trades and Citadel’s role in payment for order flow came to the surface.
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Treasury Secretary Janet Yellen Makes Push for Major Stimulus, Sees Bigger Risk in Not Doing Enough
“We think it’s very important to have a big package [that] addresses the pain this has caused,” Yellen told CNBC.
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Stocks Making the Biggest Moves After Hours: Dropbox, Roku, Tripadvisor & More
See which stocks are posting big moves after the bell on Feb. 18.
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Lumber Prices Top $1,000 for the First Time as Single-Family Housing Starts Drop 12%
Consumers want more newly built, affordable homes, but builders are finding that hard to deliver, especially as prices for framing lumber spike ever higher.
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Yellen Says Investors Should Be Very Careful With Some Sectors, Calls Bitcoin ‘Highly Speculative'
While low interest rates support higher stock valuations, Treasury chief Janet Yellen told CNBC some parts of the market may need to be viewed cautiously.
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As Short Interest Falls to Near-Record Lows, Two Traders Sound the Alarm on Short Squeeze Traps
Two market analysts determine whether some of the most-shorted stocks in the market are still safe to trade.
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Treasury Yields Slip After Jobless Claims Data
U.S. Treasury yields fell slightly on Thursday after the release of weekly jobless claims data.
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Robinhood-GameStop Hearing Will Scrutinize How Brokerages Get Paid for Trades
The increase in retail trading has come with increased scrutiny for a practice known as “payment for order flow.”