Stock Market

Stocks Rise, but Decline for the Week

Investors piled back into stocks Friday, lifting all three major U.S. indexes, as fresh data underscored that a strong economic recovery is under way.

The rally capped a volatile week for the U.S. stock market, during which major indexes swung widely in both directions. Stocks started Monday lower and then posted a mid-week rebound, before tumbling sharply Thursday on reports that President Biden is considering nearly doubling capital-gains taxes on the wealthy. The news—which immediately sent stocks lower—seemed to all but cement sizable losses for the week.

Yet strong economic data released Friday instead spurred a sharp rebound in equities

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Now That Everyone Is Bullish, Be Cautious

As businesses shuttered and workers stayed home, the gross domestic product, a broad measure of goods and services, plummeted in the United States. G.D.P. dropped 5 percent in the first quarter of 2020 and more than 31 percent in the second, according to the federal Bureau of Economic Analysis. The unemployment rate surged more than 10 percentage points from March to April last year, nearly reaching 15 percent. That was the highest level and the biggest increase since the Bureau of Labor Statistics began collecting data in January 1948.

In March 2020, the Federal Reserve stepped in. On its own,

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5 things to know before the stock market opens Friday, April 23

Here are the most important news, trends and analysis that investors need to start their trading day:

1. Stocks to bounce after Biden capital gains concerns slammed Wall Street

Traders on the New York Stock Exchange.

Source: NYSEa

2. Bitcoin, other cryptos sink and shave $200 billion off global market

A visual representation of the cryptocurrency Bitcoin on November 21, 2020 in London, England.

Jordan Mansfield | Getty Images

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Dow Drops on Report Biden Seeks Higher Capital Gains Tax

Stocks finished sharply lower Thursday following a report that said President Joe Biden would propose a capital-gains tax of more than 40% for the wealthy.

The Dow Jones Industrial Average finished down 321 points, or 0.94%, to 33,815, the S&P 500 dropped 0.92% and the Nasdaq declined 0.94%.

Biden will propose almost doubling the capital gains tax rate for wealthy individuals to 39.6%, and when coupled with a current surtax on investment income, that means federal tax rates for investors could be as high as 43.4%, Bloomberg reported, citing people familiar with the proposal. 

The president’s plan would lift the

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The market will collapse ‘by the end of June’? Really?

Well, the 401(k) “Death Watch,” is underway.

“A huge collapse is coming,” warns longtime market prognosticator Harry Dent. He adds, “This thing will be hell,” it could be “the biggest crash ever,” and the start of “the next big economic downturn.”

When? By the end of June, if not sooner, it seems.

That’s less than 10 weeks away. Oh, well.

Dent’s forecast seems to have struck some kind of chord. For about a week or longer, the article was the most popular article at ThinkAdvisor.com. But although he may be unique in setting a deadline, he’s not the only

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Stocks trade mostly higher, shaking off capital gains tax increase concerns

 

Stocks rose Friday, steadying after selling off sharply on Thursday following a report that President Joe Biden was eyeing a proposal to increase the capital gains tax rate on wealthy individuals. 

The S&P 500 added more than 1% to reach a record intraday high, after the index dropped 0.9% during the regular trading day for its worst session in five weeks. The blue-chip index ended just short of its record closing high. The Dow and Nasdaq also rose to reverse Thursday’s losses following the report, which suggested Biden was considering increasing the capital gains tax rate on those earning more

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The stock market is creating buying opportunities

CNBC’s Jim Cramer said Friday that investors should be ready to find buying opportunities in the stock market with earnings season in full swing.

When companies report quarterly results, market players digest numbers quickly and Wall Street tends to make many mistakes, he said, pointing to trading action in Honeywell and American Express as an example.

“There will be reports next week that are met with negativity and not all of them will be genuinely bad, so I’m urging you to take advantage of that weakness,” the “Mad Money” host said.

With household brand names like Boeing, Microsoft, Starbucks and

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