Page 77 - Devik Jain News Today

* U.S. stock index hit record highs at open, then pares gains

The S&P 500 and the Nasdaq edged slightly lower on Wednesday as big tech stocks slid amid an ongoing rotation of portfolio holdings that gave a boost to energy shares and kept the overall market near record highs.

6 Min Read (Reuters) - Bitcoin took another large stride toward mainstream acceptance on Monday after billionaire Elon Musk’s electric vehicle company Tesla Inc revealed it had bought $1.5 billion of the cryptocurrency and would soon accept it as a form of payment for cars, sending the cryptocurrency shooting higher. The announcements, buried deep in Tesla’s 2020 annual report, drove a roughly 20% surge in the world’s most widely held cryptocurrency to over $47,000. At current prices, 0.8...

Analysts said it could help accelerate a move for bitcoin move towards the mainstream that has seen both Paypal, also co-founded by Musk, and huge global money manager BlackRock move to accept the currency.

The Nasdaq scaled a new closing high on Tuesday, but the broad market barely missed eking out a seventh day of gains as investors rotated out of large-cap tech names into other sectors expected to benefit from a proposed $1.9 trillion U.S. stimulus bill.

The Dow and the S&P 500 pulled back slightly on Tuesday after a six-day run, with investors closely tracking progress in passing a proposed $1.9 trillion stimulus plan. The tech-heavy Nasdaq, on the other hand, hit an all-time high for the fifth consecutive session, supported by gains in Apple Inc and Netflix Inc. Largely upbeat corporate earnings so far along with monetary and fiscal support have powered the major U.S. stock indexes to record highs but analysts have cautioned against risks...

4 Min Read (Reuters) - The Nasdaq scaled a new closing high on Tuesday, but the broad market barely missed eking out a seventh day of gains as investors rotated out of large-cap tech names into other sectors expected to benefit from a proposed $1.9 trillion U.S. stimulus bill. The tech-heavy Nasdaq hit an all-time high early in the session on gains in Apple Inc, Amazon.com Inc and Google-parent Alphabet Inc, which later turned lower amid a shift in portfolio allocations. The NYSE FANG+TM index,...

MSCI's gauge of global stocks and the Nasdaq extended their runs to fresh highs on Tuesday, and oil prices pushed their rally into a seventh straight session as strong earnings and economic recovery prospects buoyed investor sentiment.

* Futures down: Dow 0.25%, S&P 0.20%, Nasdaq 0.16% (Adds comment, details; updates prices)

The Dow and the S&P 500 pulled back slightly on Tuesday after a six-day run, with investors closely tracking progress in passing a proposed $1.9 trillion…