Elon Musk Is Now Blowing Up the Wall Street Case for Bitcoin

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Elon Musk helped legitimize cryptocurrencies in the eyes of Wall Street investors. Now, his tweets are scaring them off.

About a quarter of Bitcoin’s value has been wiped away in the span of a week, in part thanks to headspinning tweets from Musk on everything from Bitcoin’s toll on the environment to whether Dogecoin is the better digital currency. The token is now worth about as much as it was when Tesla first disclosed in February its intention to buy some.

Musk has always been tongue in cheek with his crypto dabbling, but

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US STOCKS-Wall Street set to slip at open after strong rebound

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Discovery jumps on deal to merge with AT&T’s media unit

* ViacomCBS rises after report Soros scooped up stock

* Futures down: Dow 0.40%, S&P 0.38%, Nasdaq 0.52% (Adds comment, details; updates prices)

By Medha Singh and Sruthi Shankar

May 17 (Reuters) – U.S. stocks were headed for a lower open on Monday following the S&P 500’s biggest one-day jump in more than a month, with investors shifting their focus to retail earnings this week for clues on

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4 Things that Could Move Wall Street this Week

– By Panos Mourdoukoutas

Wall Street begins the new week on the heels of last Friday’s big rally that helped major averages recover from the worst sell-off of 2021.

Will the rally follow through, pushing Wall Street to new highs? I think a lot will depend on news releases in four key areas: housing, corporate earnings, mergers and acquisitions (M&A) activity and monetary policy.


The U.S. housing sector has been strong during the Covid-19 recession. Sales of previously owned houses rose by 0.6% month over month to 6.69 million units in January. In addition, the median existing-home price increased

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Biden’s Wall Street cop is putting Robinhood on notice

“These are not free apps. They are just zero-commission apps. The cost is inside the order execution,” Gensler told lawmakers during the latest congressional hearing investigating the GameStop saga.

The controversial trading restrictions imposed by Robinhood earlier this year drew attention to how some brokerages receive revenue in exchange for routing orders to high-speed trading firms like Citadel Securities.

Gensler, who was known as the toughest regulator of the Obama era, promised to “take a closer look” at payment for order flow and noted that both Canada and the United Kingdom banned the practice. He also pointed out that not … Read More

Peloton Stock Loses a Fan on Wall Street After Treadmill Recalls

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Courtesy Peloton

Peloton Interactive

stock rose Thursday, but the company’s recent treadmill recalls lost it a bullish analyst.

BofA Securities analyst Justin Post lowered his rating on Peloton stock (ticker: PTON) to Neutral from Buy in a note Wednesday night. He also cut his price objective by $50 to $100.

Peloton stock was up 1.6% to $83.92 Thursday. But that could change dramatically in after-hours trading, when the company is set to report quarterly results.

Post’s downgrade followed a nearly 15% drop for Peloton stock on Wednesday, after the company said it was recalling its Tread and Tread+

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Covid-19 Vaccines in U.S. Beckon Foreigners Seeking Shots and Shops

McALLEN, Texas—Even before New York City announced plans to offer visitors free vaccines, tourism from Texas to Florida has received a boost as tens of thousands from Mexico and other countries fly to the U.S. for a shot in the arm.

“Enjoy Dallas, Includes Covid Vaccine,” said a Mexico travel agency ad. Thai tour companies are selling vaccine packages to California. Northern states in the U.S. are supplying their Canadian neighbors with doses.

Most of the travel appears to be between Mexico and Texas. Mexican airlines have added routes to South Texas and stepped up frequency. Flights to Houston, Dallas

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U.S. Pipeline Cyberattack Forces Closure

The main pipeline carrying gasoline and diesel fuel to the U.S. East Coast was shut down by its operator after being hit with a cyberattack.

Colonial Pipeline Co. operates the 5,500-mile Colonial Pipeline system taking fuel from the refineries of the Gulf Coast to the New York metro area. It said it learned Friday that it was the victim of the attack and “took certain systems offline to contain the threat, which has temporarily halted all pipeline operations.”

The 5,500-mile Colonial Pipeline system carries roughly 45% of gasoline and diesel fuel consumed on the East Coast

The outage isn’t expected

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Wall Street’s Work Till You Drop Culture Under Attack : NPR

Right out of college Anita Ramaswamy was hired for her dream job as an analyst at a big bank on Wall Street. She frequently worked until midnight, including during the pandemic.

Courtney Pedroza for NPR

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Courtney Pedroza for NPR

Right out of college Anita Ramaswamy was hired for her dream job as an analyst at a big bank on Wall Street. She frequently worked until midnight, including during the pandemic.

Courtney Pedroza for NPR

Last year, Anita Ramaswamy hit her breaking point.

She had just joined a Wall Street investment bank in November, working remotely from

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For $25 Million, the Gilded Manhattan Townhomes of a Wall Street Heavyweight

On New York’s Upper East Side, a pair of Georgian-style townhomes built around 1930 by the family of one of the world’s richest men—and more recently owned by the late investment banker and preservationist Richard H. Jenrette—is coming on the market for $25 million.

Designed by Delano & Aldrich, an architecture firm known for building houses for the Rockefellers, Vanderbilts, Astors and Whitneys, the houses consist of a larger main home that is connected in several places to an adjacent smaller home with a large garage. Both are perfectly preserved with all original architectural details, fixtures and fittings, said listing

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