STOCKS CLIMB TO RECORD HIGHS: Here's what you need to know
The S&P 500 gained 0.1%. Meanwhile, the Dow increased 0.2% and the more tech-heavy Nasdaq also rose 0.2%.
First up, the scoreboard:
- Dow: 22,873.83, +32.82, (+0.14%)
- S&P 500: 2,552.70, +1.73, (+0.07%)
- Nasdaq: 6,603.05, +11.34, (+0.17%)
- US 10-year yield: 2.28%, -0.04
- WTI crude oil: $51.36, +0.76, +0.76%
1. Forget bitcoin, an $8 trillion bubble in global markets is waiting to pop. Deutsche Bank's chief economist singles out government and corporate bonds that still have negative yields as potentially disastrous.
2. The rise of a new kind of finance is setting off alarm bells at the Fed. A surge in new methods and avenues to circumvent conventional bank finance presents the next major challenge for regulators in Washington, the St. Louis Fed's president, James Bullard, told Business Insider in an interview.
3. Traders are betting big against gun stocks after the Las Vegas mass shooting. After their prices surged immediately following the massacre, traders are now loading up on shorts.
4. Bank of America beat on third-quarter earnings. The bank reported earnings of $0.48 per share, even with the second quarter, beating analysts estimates of $0.46 per share.
5. Bitcoin went bananas. The red-hot cryptocurrency crossed $5,800 for the first time and set a record high of $5,866 a coin.
ADDITIONALLY:
These 13 companies pay the highest effective tax rate in the US
The Weinstein Company will reportedly be sold off or shut down - but the company publicly denies it
Jamie Dimon talks about bitcoin one day after saying 'I'm not going to talk about bitcoin anymore'
REPORT: Saudi Aramco is 'considering shelving plans for an IPO'
Trump needs to make another key appointment as Janet Yellen's right hand man steps down
MORGAN STANLEY: Here are 20 companies that are best exposed to the growing space economy
Cryptocurrencies are 'in the 3rd inning' - and Wall Street is just getting started
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’