Disney says Disney+ streaming service now tops 100 million paid subscribers
Elizabeth Olsen as Wanda Maximoff and Paul Bettany as Vision in Marvel Studios' WANDAVISION exclusively on Disney+. The Walt Disney Co. announced Tuesday its streaming service Disney+ now has more than 100 million paid subscribers worldwide. Disney+ was launched in the United States back in November 2019, just in time for the 2019 holiday season. The announcement Tuesday about the Disney+ subscription milestone was made during a Disney annual shareholders meeting. Right now, Disney is enjoying another hit on the streaming service, “WandaVision.” It’s a series based on Marvel Comics characters.
Dan Gilbert’s Rocket shares rise 70% as newest Reddit target
A Rocket Companies sign is displayed on the exterior of the New York Stock Exchange, Thursday, Aug. 6, 2020, in New York. Shares of Rocket Companies, parent of Quicken Loans, began trading Thursday during the Detroit company's IPO at the NYSE. Quicken is the largest retail mortgage originator in the U.S. (AP Photo/Mark Lennihan)DETROIT – The stock price of Rocket Companies, parent company of Dan Gilbert’s Quicken Loans, shot up more than 70% over the last 24 hours after the company became the newest “meme” stock of Reddit. Rocket reported stronger-than-expected fourth-quarter earnings last Thursday, which impressed some Wall Street analysts. More: GameStop’s saga may be over; its effect on Wall Street isn’t
LIVE STREAM: Robinhood, Reddit CEOs testify in House hearing on GameStop stock saga
The episode has been portrayed as a victory of the little guy over Wall Street titans, but not everyone is buying it. The head of the panel, Rep. Maxine Waters, D-Calif., is homing in on hedge funds, which she says have a history of “predatory short-selling." Chicago-based Citadel is one of the biggest hedge funds, and its separate securities-dealing business handles an estimated 25% of all U.S. stock trading. Not coincidentally, it inflicted billions in losses on the hedge funds that had placed bets that the stocks would drop. GameStop stock plunged 60%, to $90 on Feb. 2, wiping out hundreds of thousands of dollars in a few hours.
Robinhood lifts some restrictions on buying Reddit-driven GameStop, AMC stocks
A vehicle passes in front of a GameStop store in Vernon Hills, Ill., Thursday, Jan. 28, 2021. The online trading platform Robinhood is moving to restrict trading in GameStop and other stocks that have soared recently due to rabid buying by smaller investors. (AP Photo/Nam Y. Huh)Robinhood has lifted some restrictions on buying stocks being driven by Reddit’s WallStreetBets group, allowing users to purchase GameStop, AMC and others after restricting them on Thursday. Robinhood came under fire on Thursday after shutting down the stock buying frenzy, citing “market volatility,” while users of the trading app accused the company of market manipulation. AdMost of the stocks that were restricted on Thursday have seen an increase since buying was allowed again Friday morning.
EXPLAINER: Why GameStop’s stock surge is shaking Wall Street
What’s going on with GameStop’s stock doesn’t make sense to a lot of people. AdHere's a look at how we got here:___WHAT IS HAPPENING WITH GAMESTOP’S STOCK? A big reason for that is how deeply hated GameStop's stock was by hedge funds and other professional investors on Wall Street. Later, if the stock price does as they expect, they can buy the stock at a lower price and keep the difference. ___WHERE DOES WALL STREET SEE GAMESTOP'S STOCK ENDING UP?
Robinhood sends market volatility warning to brokerage app users
Asian shares skidded on Thursday as a reality check set in about longtime economic damage from the coronavirus pandemic, giving Wall Street its worst day since October. (AP Photo/Ahn Young-joon)Robinhood is warning its brokerage app users about “market volatility” while small-pocket investors continued their battle with the big players on Wall Street by pouring money into companies like GameStop and AMC. Easy-access trading apps like it are at the center of the war between groups of small investors communicating on social media and Wall Street short sellers. Here are some specific articles from Robinhood Learn to help make sense of market volatility: -- The stock market has been super volatile – How can I make sense of it? Amid significant market volatility, it’s important as ever that we help customers stay informed.
Should you worry about winner of presidential election tanking stock market?
When it comes to this election, should we worry about the winner tanking the stock market? A look back at historic market records for more than a century shows that under Democrats, the stock market returned an 11% return. So for everything presidential candidates do to make the other side cringe, when it comes to money, the winner doesn’t matter as much as people fear. “People were predicting if Obama got reelected the market would crash,” said Nathan Larsen, of Executive Wealth Management in Brighton. It went up.”Larsen said history tells us no single president causes a market crash merely by getting elected.
Asia stocks rise as investors shrug off virus worries
A woman wearing a face mask stands in front of a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Monday, July 6, 2020. Asian stock markets rose Monday as investors looked ahead for data they hope will support optimism about a global economic recovery. (AP Photo/Vincent Yu)BEIJING – Asian stock markets rose Monday as investors shrugged off rising coronavirus cases in the United States and some other countries. Benchmarks in Shanghai, Tokyo, Hong Kong and Southeast Asia advanced. This week, investors are looking ahead to interest rate decisions in Australia and Malaysia.
Report: Quicken Loans is planning to go public
DETROIT – America’s largest mortgage lender, Quicken Loans, is planning an IPO, according to reports. According to CNBC, billionaire Dan Gilbert’s company has filed paperwork that let it go public by next month. Quicken Loans is working with Morgan Stanley, Goldman Sachs, Credit Suisse and JPMorgan to manage the deal, CNBC reports. The value is expected to be in the tens of billions of dollars worth. Gilbert founded Quicken 35 years ago and eventually moved its headquarters to Downtown Detroit where he has built a real estate empire.
How defensive stocks work
If you’re still looking to invest amid the current craziness of the stock market right now, defensive stocks might be a strong option to consider. Defensive stocks are stocks that provide consistent dividends and stable earnings, regardless of the state of the stock market. These include recession-resistant sectors like necessities, utilities, consumer staple and packaging companies. Most of these companies offer dividends that strengthen your portfolio without adding to your risk. More reading on the subject:
LIVE: NYSE, Dow Jones, stock market trading on big board on March 17, 2020
NEW YORK – The New York Stock Exchange and the Dow Jones Industrial Average trade amid global coronavirus concerns. Global stock markets were volatile Tuesday after a brutal sell-off that gave the U.S. stock market its worst loss in over 30 years, with many economies grinding to a standstill in hopes of containing the spread of the coronavirus. Major indexes in Europe lost early gains after Asian markets largely logged solid increases. U.S. futures wobbled between gains and losses as investors sought to gauge how vast and deep the economic damage will be and how swift governments will ramp up rescue measures. The market opens at 9:30 a.m. and closes at 4 p.m.Live Big Board tracking below:
Coronavirus pandemic leads to staggering swings on Wall Street
DETROIT – From the cancellation of virtually every major sporting event to more confirmed cases popping up around the country, the coronavirus pandemic has taken center stage in the United States. There’s also been a massive sell-off on Wall Street. The predominant feeling Thursday on Wall Street is that what’s being done to stop the spread of coronavirus isn’t sitting well enough with investors. All the indexes closed down roughly 10% -- the DOW down 2,353 points, the S&P down 260 pounds, the NASDAQ down 750 points. Thursday marked another historic milestone as we saw the worst sell-off since Black Monday in 1987.
Coronavirus pandemic leads to staggering swings on Wall Street
Coronavirus pandemic leads to staggering swings on Wall StreetPublished: March 12, 2020, 5:36 pmFrom the cancellation of virtually every major sporting event to more confirmed cases popping up around the country, the coronavirus pandemic has taken center stage in the United States. There’s also been a massive sell-off on Wall Street.
Complicated chaos: How stock market dip can benefit consumers
DETROIT – The stock market took hits Monday, but there is gain among those losses. Stocks had their worst day since the 2008 shutdown, fueled by coronavirus fears and a fall in oil prices. MORE: Dow drops 7.8% as free-fall in oil, virus fears slam marketsWhile the market is feeling pain, there’s some benefits consumers can expect as a result. Right now, the 30-year fixed rate is 3.15 percent. The 15-year fixed rate is 2.8 percent.
Local 4 News at Noon -- Feb. 10, 2020
DETROIT – Here’s what you missed on Local 4 News at Noon (watch the episode above).Two men found dead in Highland Park homeTwo people -- a 42-year-old man and a 68-year-old man -- were found dead inside a home in Highland Park, police said. Local 4′s Jason Colthorp is learning more about the story.
Senate passes short-term funding bill to dodge government shutdown
Here's everything WeWork's new co-CEOs are trying to sell since...Just two days after Adam Neumann's exit at WeWork, the company's new CEOs are taking significant steps to trim the fat in the hopes that it will help it get back on track for...Technologyread morecnbc.com
CDC says vaping lung cases surge 52% in the last week to 805 with at least 12 deaths
"Most patients have reported a history of using e-cigarette products containing THC. The increase in cases from last week represents new cases and recent reporting of previously identified cases. The disease is impacting mostly men, and all reported cases have a history of e-cigarette or vaping use, health officials said. Public health officials, in the meantime, are urging consumers not to use e-cigarettes or other vaping products. The CDC also recommends not using vaping products off the street and not adding substances to products that are not intended by the manufacturer.cnbc.com
GM reinstates health insurance for striking UAW members
The automaker cut health-care coverage for union members last week, moving them to more expensive, temporary COBRA plans on Sept. 16, the first day of the strike. GM said it was reinstating the coverage after realizing its change caused "significant confusion" among employees, according to a letter received by the UAW on Thursday. Some employees were unsure whether they had health benefits at all, according to interviews with workers and other media reports. "GM is very concerned about the significant confusion caused around our employee's health care coverage," Scott Sandefur, GM North America vice president of labor relations, wrote in the letter to UAW Vice President Terry Dittes. It's unclear how much, if any, the reinstatement of the health-care benefits will impact negotiations, which Wednesday progressed to the "Main Table" of top-level negotiators.cnbc.com
Exxon Mobil to sell some of its Norway assets for $4.5 billion
WeWork's Neumann voted to oust himself as CEO after failed IPO,... When WeWork's directors voted on Tuesday to oust Adam Neumann as chief executive after a failed attempt to take the office-sharing startup public, Neumann cast his vote...Technologyread morecnbc.com
Pompeo says Syrian government used chlorine in May chemical weapon attack
In this Monday, April 16, 2018 file photo, people stand in front of damaged buildings, in the town of Douma, the site of a suspected chemical weapons attack, near Damascus, Syria. U.S. Secretary of State Mike Pompeo said on Thursday that the United States concluded the government of President Bashar al-Assad in Syria used chlorine as a chemical weapon in an attack in May during a battle with insurgents in Idlib. "Today I am announcing that the United States has concluded that the Assad regime used chlorine as a chemical weapon on May 19," Pompeo said. The Trump administration has twice bombed Syria over Assad's suspected use of chemical weapons in April 2017 and April 2018. "This is different in some sense because it was chlorine... but know that President Trump has been pretty vigorous in protecting the world from the use of chemical weapons," Pompeo said, said declining to say what the U.S. response could be.cnbc.com
Hypersonic weapons are the center of a new arms race between China, the US and Russia
Why the US has been slow to adopt electric busesChina is leading the world in electric vehicle adoption, with almost all city buses run on electric batteries. The U.S. has been slow to catch on, with only 300 electric buses...Technologyread morecnbc.com
Low oil prices fuel stock market plummet
It's a brutal trading day on Wall Street after the Dow dropped nearly 500 points, fueled by falling oil prices. CBS News correspondent Marlie Hall was on the floor of the New York Stock Exchange and joined CBSN with more details, as well as insight from a trader.cbsnews.com