Here are the top news, trends, and analysis that investors need to get their trading day started:
Traders working on the New York Stock Exchange (NYSE) on May 19, 2021.
US stock futures Friday indicated a second day of gains on Wall Street, the day after a rebound rally halted a three-session losing streak. The Nasdaq on Thursday it rose nearly 1.8%, dragging the tech-heavy index into it positive area for the week. Before the trade on Friday, the Dow Jones industry average and S&P 500 were still lower for the week, despite progress of more than 0.5% and 1% on Thursday, respectively. Tesla, Chip stocks, and other speculative names that made big hits in the previous session rallied as of Thursday Bitcoin Prices recovered.
A representation of the virtual currency Bitcoin can be seen in this illustration from May 19, 2021 in front of a stock graph.
Dado Ruvic | Reuters
Bitcoin was trading over $ 40,000 on Friday as the rebound in the world’s largest cryptocurrency stabilized at more than three-month lows near $ 30,000 after the collapse on Wednesday. Keep profits under lock and key was concerned about U.S. demands for stricter cryptocurrency compliance with the Internal Revenue Service. The Treasury Department announced steps Thursday to require that transfers of $ 10,000 or more be reported to the IRS. At this week’s lows, Bitcoin fell more than 50% from April’s all-time highs near $ 65,000.
Treasury Secretary Janet Yellen speaks during a daily press conference in the James Brady Press Briefing Room of the White House on May 7th in Washington, DC.
Alex Wong | Getty Images
The Biden administration suggests a global minimum corporate tax rate of 15%. However, Treasury said Thursday that the final rate could be even higher, citing 15% a “floor”, and discussions should continue to be ambitious and increase that rate. Finance minister Janet Yellen, Who was Jerome PowellPredecessor as Federal Reserve Chairman said setting a global minimum rate would help halt the “race to the bottom” for tax rates around the world.
CEO Tim Cook speaks at an Apple event at corporate headquarters in Cupertino, California on September 10, 2019.
Stephen Lam | Reuters
Apple CEO Tim cook is set take the stand Friday to defend the company’s app store against allegations that it has become an illegal monopoly. Apple expects Cook to appear at the trial to complete the company’s defense against antitrust proceedings by Fortnite manufacturer Epic Games. Epic claims Apple’s App Store has turned into a budget vehicle that earns 15% to 30% commissions from in-app transactions and prevents apps from offering other payment alternatives.
Tesla’s Model Y compact crossover vehicles in a showroom in Shanghai, China on Jan. 18, 2021.
VCG | Visual China Group | Getty Images
Tesla has raised prices for its Model 3 and Y for the fifth time in recent months. according to EV News Site Electrek. The Model 3 Standard Range Plus and Model 3 Long Range AWD both rose $ 500, starting at $ 39,490 and $ 48,490, respectively. The Y Long Range AWD model also rose $ 500, now starting at $ 51,490. No reason was given for the recent increases. The prices for the Model 3 Performance and Model Y Performance vehicles have not been increased.