MARKETS
- Market
What’s behind SpaceX’s $74 billion valuation: Elon Musk’s two ‘Manhattan Projects’
Elon Musk’s SpaceX is now worth $74 billion after it raised more capital last week – and the strong demand…
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Robinhood is still on track for a hot IPO despite the GameStop uproar
Omar Marques | LightRocket | Getty Images Robinhood’s user growth, brand recognition and valuation appear to be stronger than ever…
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Cramer warns the GameStop surge has everybody unrealistically looking for stocks about to triple
CNBC’s Jim Cramer on Thursday questioned “are prices real” on Wall Street anymore, as he exasperatingly tried to explain GameStop‘s…
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Biden’s Hopes for Rare Earth Independence at Least a Decade Away
(Bloomberg) — Joe Biden’s ambition to make the U.S. less dependent on other nations for rare earths and minerals critical…
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From Chicago to Geneva, Bonds Blowing Up Captivated Everyone
(Bloomberg) — Thomas Costerg doesn’t usually go to bed with a computer, but he couldn’t help himself Thursday night after…
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Why Texas Broke: The Crisis That Sank the State Has No Easy Fix
(Bloomberg Businessweek) — The Houston skyline was lit pink for Valentine’s Day. It was cold—really cold, at least by the…
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Art Cashin expects more stock pain as traders worry about Fed losing control of bond market
Longtime trader Art Cashin told CNBC on Friday that investors should brace themselves for a period of stock market volatility…
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Power Retailers Contest Exorbitant Energy Charges: Texas Update
(Bloomberg) — Texas lawmakers are grilling power executives, regulators and others for a second day about why the state’s energy…
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Coinbase files for direct listing after revenue more than doubles in 2020
Cryptocurrency exchange Coinbase on Thursday filed to become a public company and revealed that its revenue more than doubled last…
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Will the 2021 Earnings Bonanza Really Happen?
(Bloomberg Opinion) — Fourth-quarter earnings are just about over, which means investors can officially turn their attention to 2021, a…
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Personal income leaps 10% in January thanks to stimulus, but inflation still in check
A fresh round of government stimulus checks sent personal income up to its biggest monthly gain since April 2020 though…
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The Simplest Cookie Recipe From One of the World’s Best Chefs
(Bloomberg) — Editor’s Note: As more people are working from home, Bloomberg Pursuits is running a weekly Lunch Break column that highlights…
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Sensex, Nifty tank most in nine months; will bond yields continue to push domestic markets lower?
S&P BSE Sensex fell as much as 2,100 points today, but recouped some losses on closing bell. (Image: REUTERS) Domestic…
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Relativity Space unveils a reusable, 3D-printed rocket to compete with SpaceX’s Falcon 9
An artist’s illustration of the difference in size between the company’s Terran 1 rocket, to the left, and the planned…
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Bond Rout Shows Risk of Uneven Recovery in World’s Top Economies
(Bloomberg) — The U.S. economy appears primed to recover from the Covid-19 slump much faster than others, causing havoc on…
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RailTel makes muted stock market debut; gains 11% over IPO price to list at Rs 104.6 apiece
Financially, the company has reported a growth in net profit from Rs 134 crore in the financial year 2018 to…
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Birkenstocks Are Following Dr. Martens All the Way to the Bank
(Bloomberg Opinion) — Comfy shoes have never been so hot. L Catterton, the private equity fund backed by LVMH Moet…
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British Airways Parent Sees Signs of Hope After $9 Billion Loss
(Bloomberg) — British Airways parent IAG SA said there’s grounds for optimism about air travel this summer, after posting its…
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Stocks just got some new competition from bonds as 10-year rate tops dividend yield
Bonds have been shunned by many investors as rock-bottom rates made them unattractive relative to equities. On Thursday, the bond…
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Why stock investors are starting to really worry about rising bond yields
Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress”…
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Tyagi highlights risks owing to disconnect between markets & economy
In the new normal, corporations allowed their employees to work from home, and meetings, including AGMs and virtual meetings, shifted…
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Data firm that monitors Reddit says it saw GameStop mentions spiking days ago
Mentions of GameStop increased on Reddit days before shares of the video-game retailer took off again, according to Justin Zhen,…
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China Builders Soar on Land Rules Seen to Favor Big Players
(Bloomberg) — Shares of Chinese developers soared after at least two cities released new land sales rules that may benefit…
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Robinhood offers blistering retort to ‘elitist’ criticisms from Munger
Robinhood fired back at Berkshire Hathaway Vice Chairman Charlie Munger, who earlier this week said the free trading app was…
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Inflation Is Uncontainable But Not Inevitable
(Bloomberg Opinion) — Otherwise intelligent people can be surprisingly wrong about economics. The latest example is the claim that current…
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Here’s why jobless claims are the wrong way to understand unemployment in the U.S.
The number of individuals filing first-time claims for state unemployment benefits fell sharply last week, with a total of 730,000…
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U.S. Companies Start to Flex Pricing Power in First Test for Fed
(Bloomberg) — U.S. consumer prices are headed higher -– at least according to the people who set them. Corporate leaders…
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Fed’s Digital Dollar Would Look Nothing Like Bitcoin
(Bloomberg Opinion) — Treasury Secretary Janet Yellen recently mentioned the idea of creating a so-called digital dollar — a new…
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Carlyle’s Rubenstein says biggest economic risk is high unemployment, not stock market speculation
David M. Rubenstein, Co-Founder & Co-Executive Chairman, The Carlyle Group. David A. Grogan | CNBC Carlyle Group co-founder David Rubenstein told CNBC…
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GameStop shares surge 50% as Reddit favorites rally again
Jakub Porzycki/NurPhoto via Getty Images Shares of GameStop jumped again on Thursday as heavily-shorted stocks favored by Reddit traders look…
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Buffett’s Letter to Break Months of Silence Amid Tumult in U.S.
(Bloomberg) — While 2020 raged, Warren Buffett mostly held his tongue. He stayed quiet through a heated presidential election, a…
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The Fed May Need to Head Off a Money-Market Mess
(Bloomberg Opinion) — Investors are worried that a flood of cash could soon disrupt U.S. money markets, as the Treasury…
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Retail Brokerage Tells IPO-Hungry Clients: Buy Our Stock First
(Bloomberg) — A Kazakhstan-based broker is riding the twin wave of retail investing and the frenzy around U.S. stock listings…
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How Carl Icahn could create value with this health company, which has many valuable businesses
Carl Icahn at the 6th annual CNBC Institutional Investor Delivering Alpha Conference on September 13, 2016. Heidi Gutman | CNBC…
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Deal for Key Metal in EV Revolution Brought Bonanza for Newcomer
A transfer of lucrative cobalt and copper assets by the Democratic Republic of Congo’s state mining company enabled a little-known…
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Junk Bonds With Low Yields? Here’s Why They’re Hot
(Bloomberg) — High-yield bonds that don’t pay very much? Sounds like an oxymoron, or maybe unwise. But investors are pouring…
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MicroStrategy buys more than $1 billion worth of bitcoin, adding to massive holdings
MicroStrategy announced Wednesday it bought just over $1 billion worth of additional bitcoin, just days after finalizing another sale of…
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Rao’s Homemade Owner Sovos Brands Said to Explore Sale, IPO
(Bloomberg) — Private equity firm Advent International is exploring strategic options for Sovos Brands, a food and beverage company with…
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GameStop shares soar more than 100% amid executive shuffle
A GameStop store is pictured in New York, January 29, 2021. Carlo AllegriI | Reuters Shares of GameStop surged more…
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Texas Deep Freeze Could Cost $90 Billion in Losses, Modeler Says
(Bloomberg) — Texas’s deep freeze and power outages last week could cost as much as $90 billion in losses, and…
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Former Mining Exec Details Suitcase Full of Cash He Used to Seal Deals
(Bloomberg) — A former Glencore director said he used to fly the world carrying a bag full of cash to…
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Wall Street clearing firm proposes 1-day trade settlement after Robinhood controversy
Pavlo Gonchar | LightRocket | Getty Images The firm that provides clearing and settlement services for brokers proposed shortening the…
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South Africa Limits Tax Hikes to Virus-Hit Booze and Tobacco
(Bloomberg) — South Africa’s alcohol and tobacco industries, already reeling by coronavirus restrictions that banned the sale of products, are…
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Petrobras Needs Investment, Less Volatile Pricing, Luna Says
(Bloomberg) — Petroleo Brasileiro SA’s incoming chief executive officer wants to continue opening the refining industry to outside investment and…
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Two Telecom Lines Fail to Protect World’s Top Derivative Bourse
(Bloomberg) — Less than an hour into trading in India’s $2.7 trillion stock market on Wednesday, dealers saw index levels…
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Top Wall Street analysts say buy stocks like Denny’s and Cloudflare as economy reopens
After experiencing unusually broad market momentum since November, stocks are overdue for a lengthy pause or a correction. Stock picking…
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A New Link Tracing Beef From Amazon Rainforest to Grocery Stores
(Bloomberg) — Meatpacking powerhouses like JBS SA and Marfrig Global Foods SA have borne the brunt of watchdog efforts to root out…
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India’s Top Stock Exchange Halts Trading After Telecom Disruption
(Bloomberg) — The National Stock Exchange of India Ltd. shut trading in its cash and derivative segments, citing “issues” with…
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Here’s what investors should know about rocket builder Astra as it prepares to go public
Rocket 3.1 launches from Kodiak, Alaska. Astra / John Kraus Rocket builder Astra is preparing to go public in the…
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Workhorse Group drops nearly 50% after EV company is passed over for USPS contract
Workhorse W-15 Electric Pickup Truck. Source: Workhorse Shares of Workhorse Group dropped more than 50% at one point on Tuesday…
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