Investing
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Do religious employees have to work on Sundays? Supreme Court weighs in.
Do devout Christians have to work on Sundays? Will businesses have to make greater accommodations for devout Jewish or Muslim workers? The Supreme Court’s decision on Thursday stands to, for the first time in a haf-century, dramatically reshape federal rules that govern how employers must treat religious employees. In Groff v. DeJoy could come on…
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Dow finishes 270 points higher as cyclical stocks lead, Nasdaq drags as Treasury yields rise
U.S. stocks finished higher on Thursday with cyclical sectors like financials, materials and industrials seeing the strongest gains, while higher Treasury yields dragged on the tech-heavy Nasdaq. What happened Dow Jones Industrial Average DJIA gained 269.76 points, or 0.8%, to close at 34,122.42. S&P 500 SPX gained 19.58 points, or 0.5%, to 4,396.44. Nasdaq Composite…
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‘Pokemon Go’ maker Niantic to lay off 230 workers
Niantic Inc., the company that created the popular “Pokemon Go” game, announced 230 layoffs Thursday, joining the list of tech companies making head-count reductions. In an email to employees that was posted on the company’s website, CEO John Hanke said that Niantic had allowed its expenses to grow faster than revenue. “In the wake of…
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Did you see this stock take flight yesterday? ?
*Sponsored by IA Media LLC, see disclosures below It’s been a while since I saw an opportunity like we have with Trio Petroleum (TPET). As I mentioned yesterday, this tiny $1 oil stock – that had a recent IPO much higher than current levels – appears to be an overlooked opportunity in this market.…
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Crypto can become regular part of investors’ portfolios once regulations are clear, says Franklin Templeton
Cryptocurrencies can become “regular parts of people’s portfolios” once regulations become clear in the U.S., according to Franklin Templeton, which manages over $1.4 trillion in assets. While investors now can buy crypto directly, there are limited ways for them to include digital assets in traditional portfolios, said Sandy Kaul, head of digital asset and industry…
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Nike’s profit miss makes it ‘abundantly clear’ that U.S. economy faces ‘considerable headwinds,’ analyst says
Shares of Nike Inc. fell on Thursday after the sneaker-maker reported fourth-quarter profit that came up short of Wall Street’s expectations, with price cuts weighing on results amid weaker demand that one analyst said loomed large for the U.S. economy. Executives said on Nike’s NKE, +0.30% earnings call that the current backdrop for shoes and…
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Why AI could lead a lot more people to pay with bitcoin
Hi! Welcome back to Distributed Ledger. This is Frances Yue, reporter at MarketWatch. While the U.S. Securities and Commission recently took a slew of enforcement actions against crypto companies, it seems some financial institutions are still bullish on the industry. In the past week, Cathie Wood’s ARK Investment Management and crypto asset manager 21Shares…
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Bank borrowing from the Fed climbs for eighth week in a row
[]The amount of money that banks are borrowing from the Federal Reserve crept up for the eighth week in a row, underscoring that parts of the financial system are still under some duress. []Total bank borrowing rose by $347 million to $106.3 billion in the seven days ending June 28. { if (evt.detail === CHART_ENGINE_NAME)…
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Xponential Fitness stock soars after CycleBar, StretchLab parent denounces short-seller report
Shares of Xponential Fitness Inc. bounced sharply Wednesday, after the franchiser of boutique fitness brands, including CycleBar, StretchLab and Club Pilates, denounced a bearish investor’s report that led to a record selloff in the previous session. And analyst Randal Konik at Jefferies did the same, recommending investors buy the stock XPOF, +2.16% on the dip…
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Tesla is opening its Supercharger network to rival EV makers. That could turbocharge the stock.
“ Tesla is not merely participating in the EV revolution, it’s steering it. ” It’s not often that a corporation can reshape an entire industry with a single decision. Now, Tesla TSLA, +0.56% is doing exactly that by opening its proprietary Supercharger network to rival manufacturers’ electric vehicles (EVs). To appreciate the potential impact of…