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(Bloomberg) — Moderna Inc. climbed more than 6% in extended trading Thursday after the vaccine maker was named to the S&P 500 Index in one of the most noteworthy additions to the index since Tesla Inc. joined late last year. The company, whose messenger-RNA vaccine has helped to fight the Covid-19 pandemic, will replace Alexion Pharmaceuticals Inc. in the benchmark U.S. index before the opening of trading on July 21. Alexion is set to be acquired by U.K. drugmaker AstraZeneca Plc. Shares of… Source link

Bitcoin was trading for well over $60,000 in April, after making an astounding run from $11,000 in October. But after a tough first half of May, it’s been at about $33,000 as the crypto buzz died down. The cycles of bitcoin’s (BTC) popularity are a hallmark of the digital asset, so far at least, and despite its novelty, it’s old enough (12 years) for some patterns to have emerged. Though there’s no guarantee that what comes next won’t be different, hedge fund veteran and co-founder of… Source link

In the 2020 CARES Act, Congress gave student-loan borrowers a temporary break from repaying their loans. President Trump extended that twice and President Biden once, with loan payments now set to resume Oct. 1, 2021. Borrowers could have kept paying if they wanted to, but almost nobody did. As Tom Lee of the American Action Forum recently explained, the portion of borrowers repaying their student loans dropped from 46% at the beginning of 2020 to 1% today. The portion of borrowers in… Source link

Netflix (NFLX) recently announced it’s moving into the gaming sector with the hire of a 30-year gaming industry veteran, former EA (EA) and Oculus executive Mike Verdu. However, some experts believe that the move into the cutthroat gaming industry won’t pan out for the content platform. “This thing is dead on arrival. It will not work,” Michael Pachter, senior analyst at Wedbush, told Yahoo Finance Live. “Have me back and we’ll talk about Mike Verdu’s departure and the exit of Netflix… Source link

Federal Reserve Chairman Jerome Powell told Congress this week that he would like to see a corner of digital currencies more tightly regulated. “If [stablecoins] are going to be a significant part of the payments universe — which we don’t think crypto assets will be, but stablecoins might be — then we need an appropriate regulatory framework, which frankly we don’t have,” Powell told the House Financial Services Committee on Wednesday. To get around the stigma of cryptocurrencies being… Source link

A recent study by financial source DailyFX revealed that Apple (AAPL), Tesla (TSLA), and GE (GE) are the most popular stocks for millennials and Generation Z investors. The study collected data from Robinhood and examined investing preferences among millennials and Gen Z across the United States and United Kingdom for the 12 months ending April 2021. DailyFX noted that GameStop (GME) was not included in the study “as that would dominate the end results, skewing them for the search volume… Source link

While the S&P 500 and Dow Jones Industrial Average have continued to power to new highs seemingly everyday this summer, the small-cap Russell 2000 Index has been OK with sitting the dance out completely.  After peaking in March, strategists at Renaissance Macro Research note the Russell 2000 Index is now at new year-to-date relative lows versus the S&P 500. Over the last six months, the Russell 2000 Index — which houses smaller U.S. focused companies — is up a mere 1.9%. The S&P 500 and… Source link

LAS VEGAS — Team USA men’s basketball has been a subject of scrutiny for the last five days with the basketball community expressing its enormous disappointment in the team getting off to an unprecedented 0-2 exhibition start ahead of the Olympics in Tokyo. Meanwhile, Kevin Durant, the face of Team USA, is just chilling in his hotel suite at Aria Resort & Casino. “I’m doing fine, myself,” Durant told Yahoo Sports. “I haven’t really left my room with the health and safety… Source link

Although housing starts appear to be picking up in recent months, it is unclear whether this trend can be sustained as supply chain disruptions, high materials costs, and construction labor shortages continue to plague the sector. Some camps are even fearful of the possibility of an impending housing crisis which could be triggered by a wave of evictions attributed to pandemic-related disruptions. In spite of this, the U.S. housing market remains hot, with the growing demand for homes… Source link

Stock futures dipped Thursday morning as investors digested a host of mixed corporate earnings results and reassurances from monetary policymakers that the latest spike in inflation would likely prove temporary. Global data was also in focus, with a weaker-than-expected GDP report out of China pointing to a marked growth slowdown. Contracts on the S&P 500 declined after the index eked out a record intraday high during Wednesday’s regular session. The Dow looked to open nearly 200 points… Source link