Robinhood soars amid stock market and cryptocurrency boom

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New state restrictions dealing with abortion access, teaching divisive subjects, and even campus gun control are not only controversial, but could also affect students' choice of college. .

A new study from Gallup and the Lumina Foundation found that 84% of students considering or currently pursuing a two- or four-year degree said they would prefer a school with stricter gun laws. . A similar pattern appears in state laws regarding abortion and reproductive health, with majorities of both Democrats and Republicans wanting less restrictive policies.

This is just one example of factors such as cost and job prospects after graduation that were most important to prospective students. How do national policies affect university recruitment?.

breaking news

A U.S.-backed UN Security Council draft resolution was reportedly circulated on Thursday and comes after Hamas announced a proposed ceasefire in Gaza in exchange for the release of all hostages it is holding. It supports diplomatic efforts to seek an immediate ceasefire. Latest draft of US-backed resolution 'unequivocally supports international diplomatic efforts' Immediate and continuing ceasefire as part of agreement to release hostagesThis is an update from an earlier version of the draft, which called for a “temporary” ceasefire related to several conditions, according to the Associated Press.

A federal judge has rejected one of former President Donald Trump's efforts. dismiss the confidential documents lawsuit against him, however, it is still unclear when a trial will be scheduled for this case. The former president has denied any wrongdoing, but an investigation by special counsel Jack Smith revealed that he kept more than 11,000 classified documents at his Mar-a-Lago resort. He was indicted last year.

Business + Finance

GE and IBM, once considered the crown jewels of the blue-chip Dow Jones Industrials, have fallen into trouble in the 21st century. Now, more than 20 years after their heyday, they are planning a comeback. GE's value has tripled since 2018, while IBM's value has soared 82%Both outpaced the Dow Jones Industrial Average's 67% rise.

more: The Dow, S&P 500 and Nasdaq fell on Thursday after another inflation report revealed a sticky rise in prices. Putting damper on expectations for future interest rate cuts. Semiconductor chip giants Nvidia and Advanced Micro Devices were the biggest losers, an unusual exit for the red-hot semiconductor sector.

In the midst of the stock market and virtual currency boom, Robinhood reported a significant increase in retail investor activityStill, the outlook for future activity on the platform could be “particularly volatile,” particularly in cryptocurrencies, Deutsche Bank analyst Brian Bedell said in a letter to clients on Wednesday. . Robinhood hasn't made a profit in the three years since it became a public company.

A national benchmark for crude oil rose more than 1% on Thursday to a four-month high due to uncertainty in international energy markets and U.S. supply shortages. Oil and gasoline prices continue to rise. U.S. gas prices averaged more than $3.42, the highest since early November, according to GasBuddy data.

wealth + entrepreneurship

Investor enthusiasm for AI has pushed the stock price of under-the-radar South Korean semiconductor company Reno Industrial up more than 70% since November, and the company's founder and CEO Lee Chae-yoon has become South Korea's most He became a new millionaire.He is the second billionaire created by South Korea's AI boom. Home to leading companies in the chip industry. Mr. Lee is the largest shareholder of his Leeno Industrial; forbes As of Thursday's stock market close, his net worth is estimated at $1 billion.

Technology + Innovation

Since its founding in 2019, Westbound Equity Partners, formerly known as Concrete Rose Capital, has invested in more than 40 startups aligned with what co-founder Sean Mendy calls “opportunities for diversity.” Ta. Providing more capital to undervalued founders, Especially Black and Latino people, and startups that primarily serve communities. We're also looking to support blue-chip companies that want to prioritize a more equitable culture and workforce, like conversational AI company Sierra. It's making a bigger bet with a new $100 million second fund, now backed by institutional investors including Google parent Alphabet, MetLife and the Ford Foundation.

Meme cryptocurrency Dogecoin soared on Thursday after Elon Musk suggested It may be accepted as payment for Tesla cars in the future, the latest in a long line of dog-inspired tokens from the billionaire. The popular and notoriously volatile meme token had a market capitalization of about $26.5 billion as of Thursday morning, making it one of the top 10 most valuable cryptocurrencies.

Unstructurald is what founder and CEO Brian Raymond describes as a transformative startup. “Really messy and sloppy data” It has been converted into a format that machine learning models can understand and announced that it has raised $40 million. Unstructurald, currently worth $230 million, says about 50,000 organizations use its open source software to prepare data for AI training.

money and politics

Former Treasury Secretary Steve Mnuchin has formed a group of investors to buy TikTok after the US House of Representatives passed a bill that would ban the popular social media app unless it is sold to a US buyer within six months. He said that TikTok's ByteDance was valued at $268 billion last year, And it remains to be seen whether the U.S. company will raise the necessary funds to acquire the social media network in just six months.

Embattled Sen. Bob Menendez (DN.J.) is preparing to collect signatures to run as an independent in the November election, NBC News reported. Menendez and his wife, Nadine Menendez, have pleaded not guilty to the federal charges. Bribery, extortion and obstruction of justiceAnd his trial is scheduled to begin on May 6th.

Trends and commentary

As Bitcoin soars to all-time highs, some enthusiasts feel that an upcoming “halving” could take Bitcoin to new heights.The event is Cryptocurrency basics to limit supply By reducing the rewards associated with mining Bitcoin, this has historically coincided with rising prices. There have been three Bitcoin halvings in the past, and the next one is expected to occur sometime in April.

daily cover story

The big reason Americans think Biden's economy stinks

top line Economists, policymakers, politicians and market watchers are perplexed by the gloomy public perception of a post-pandemic economic recovery, but look no further than residential real estate.

Housing is more expensive than ever; The number of properties on the market is near an all-time low. Freddie Mac says 30-year mortgage rates have already fallen to 6.88% from a 23-year high of 7.79% in October, but there has been little or no associated sales growth, even if interest rates rise further. Even if it goes down, it won't go up. It doesn't necessarily affect the market. That's because millions of homeowners are waiting for the glory days of 3% to return so they can pack up and move.

There are increasing signs that this is the case. Difficulty buying a home will be an issue in November's election. More than half of Americans say housing affordability influences how they vote, according to a February poll from real estate data provider Redfin.

A February Reuters/Ipsos poll found that despite a 54-year low unemployment rate and a record-setting stock market, voters see Trump as having a better handle on the economy.39 % vs. 33%).

Nearly 8 in 10 Americans say 2023 will be a bad time to buy a home, the highest number since Gallup began asking the question in the 1970s.

Experts say that even a 1 percentage point cut in interest rates could provide a psychological boost and trigger a selloff. But the Fed appears reluctant to act, with economists pushing back their earliest expectations for a rate cut to June after last week's bad news on inflation.

permanent method Balancing supply and demand is to build more homessaid Jessica Lautz, deputy chief economist at the National Association of Realtors.

But there is widespread skepticism about whether communities across the country will allow further construction. And it remains to be seen whether the Biden administration will be able to implement the proposals it has announced to start construction on 2 million new housing units.

Why is it important? “When people talk about confusion about the public's perception of the economy and how President Biden isn't getting the ratings he deserves, they say this. We need to take a closer look at the real estate market” forbes Editor-in-Chief Bob Ivery. “Sure, some people need to move, so there's always some business. But people need to move, and sometimes they can't find anything, or they're forced to downsize, or they have to move somewhere they don't want to be. That's a very big problem. That's what's happening now, and that's what people will remember when they vote in November.”

more 13 reasons a recession is (still) coming

facts and comments

JPMorgan Chase, America's largest bank, was fined by the Federal Reserve on Thursday for: Nearly a decade of poor monitoring practices. The Fed's Board of Governors is also asking banks to review their monitoring practices and “take corrective action to address them.”

$348.2 million: Fines imposed by the Fed on JPMorgan Chase

2014 to 2023: According to the Federal Reserve Board, the period during which inappropriate monitoring practices occurred

$148.8 billion: JPMorgan Chase's earnings last year, according to its earnings report.

strategy and success

There are many reasons why we pivot to a new job or industry every few years. Career advancement is usually the driving force. However, longevity in a corporate role or career demonstrates trustworthiness, expertise, and dedication, allowing an individual to deepen their knowledge and become an expert in their field, as well as earn more vacation time and better You can also enjoy benefits such as comprehensive employee benefits such as a retirement plan. . It's important to balance maintaining a successful career path with being open to new opportunities.

video

quiz

President Joe Biden on Thursday spoke out against a foreign company's proposed $14 billion takeover of U.S. Steel, saying it faces federal scrutiny. The companies looking to acquire U.S. Steel are: which country?

A.China

B.Germany

C.Australia

D.Japan

Check your answer.

the other side of the newsroom

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