Wallstreet

Wall Street stocks close bumpy week on a high

Wall Street closed the week largely flat following a bumpy five days during which investors debated whether there was enough good news on the horizon to push stocks higher.

The S&P 500 index ended Friday up 1.1 per cent in New York, after closing 0.9 per cent lower in the previous session following reports that the Biden administration would raise capital gains tax for wealthy individuals.

The blue-chip index has gained almost 30 per cent since November, after global drugmakers announced effective coronavirus vaccines and US president Joe Biden’s $1.9tn stimulus programme put money into people’s pockets, sparking an economic

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Wall Street stocks turn lower on reports of Joe Biden’s tax rise

Wall Street stocks turned lower following reports that US president Joe Biden planned to raise capital gains tax for wealthy individuals.

The S&P 500 index gave up morning increases and closed the trading day down 0.9 per cent following a Bloomberg report stating that people earning more than $1m would pay a capital gains rate of 39.6 per cent, up from 20 per cent. The tech-heavy Nasdaq Composite followed the blue-chip benchmark lower, falling 0.9 per cent.

The trading day shaped out to the S&P 500’s worst session in about a month, reversing a markets rally that has prioritised euphoric

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Chipotle stuns Wall Street with quesadilla-fueled earnings win

CNBC.com’s Pippa Stevens brings you the day’s top business news headlines. On today’s show, Kate Rogers breaks down Chipotle’s blockbuster first quarter and massive digital sales growth. Plus, Eunice Yoon is on the ground in Shanghai testing out China’s new digital currency.

Dow closes more than 300 points lower following reports of Biden eyeing capital gains tax hike

U.S stocks reversed lower in a swift fashion on Thursday after reports that President Joe Biden is slated to propose much higher capital gains taxes for the rich.

The Dow Jones Industrial Average dropped 321.41 points, or 1%, to 33,815.90. At its

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How Reddit meme stocks like Gamestop and AMC changed Wall Street

The GameStop frenzy in late January forced Wall Street to pay attention to retail investors like never before.

The r/WallStreetBets community piled into the video game retailer’s stock and options, triggering a short squeeze and leaving short sellers with huge losses.

In the aftermath, Wall Street and news outlets dove deep into subreddit to understand how this happened. WallStreetBets’ unique mix of self-deprecating, camaraderie and tongue-in-cheek humor captured and identified with the American public.

“In the way they define themselves, they are setting up ‘this is who we are’ and that can bring people in,” College of Charleston communication professor

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