Peloton Treadmill Recall Sank the Stock. What Wall Street Is Saying.

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Peloton Tread

Courtesy of Peloton

Peloton Interactive

‘s treadmill recalls hammered the company’s stock price, sending shares to their lowest levels since September. Not every analyst sees it as a buying opportunity.

Peloton stock (ticker: PTON) sank nearly 15% to $82.62 on Wednesday. That’s the stock’s lowest close since Sept. 16. Peloton shares are down more than 50% from their closing high of $167.42 on Jan. 13. It was the worst performer in the Nasdaq 100, according to Dow Jones Market Data.

The company announced voluntary recalls for its Tread and Tread+. The U.S. Consumer Product Safety Commission

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Conservative legal group sues Biden administration over farmer loan program | Local Government

Sun dries a grain field while a combine awaits along Wisconsin Highway 32 near Lakewood.

A conservative Wisconsin legal group on Thursday announced it is suing President Joe Biden’s administration for the latest stimulus package’s use of race in determining eligibility for a farmer loan forgiveness program.

The lawsuit, filed by the Wisconsin Institute for Law and Liberty, alleges the Biden administration is engaging in unconstitutional race discrimination through a provision in the American Rescue Plan to provide debt relief to “socially disadvantaged” farmers and ranchers.

Follow along as Phil Hands shows

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South China Morning PostRegulators turn up the heat on China’s fintech platformsCompanies asked to attend include Tencent, Baidu's fintech arm, JD Finance, ByteDance and Meituan Finance among others; Regulators say …16 hours ago

South China Morning PostRegulators turn up the heat on China’s fintech platformsCompanies asked to attend include Tencent, Baidu’s fintech arm, JD Finance,
ByteDance and Meituan Finance among others; Regulators say …16 hours ago… Read More

Elon Musk’s SpaceX Is Buying Up a Texas Village. Homeowners Cry Foul.

BOCA CHICA VILLAGE, Texas—In autumn 2019, Celia Johnson began resisting efforts by billionaire

Elon Musk’s

SpaceX to buy two modest houses she owns near the company’s rocket-launch facility.

Then she discovered that a 1,600-gallon water tank had gone missing at one of her houses, a rental property. Ms. Johnson said she and her neighbors quickly concluded SpaceX workers were the culprits. SpaceX denied responsibility but reimbursed her, she said, as it did when she accused its workers of later breaking into the vacant rental house and sleeping there.

“SpaceX bullied us from the beginning,” she said. “SpaceX employees did what

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Wall Street embraces bitcoin and ethereum with the launch of new crypto indexes | Currency News | Financial and Business News

Investors can add bitcoin and ethereum to their portfolios through new cryptocurrency indexes available on Wall Street trading floors.

S&P Dow Jones on Tuesday announced the launch of three new indices tracking the performance of the two digital currencies – the S&P Bitcoin Index, S&P Ethereum Index, as well as its S&P Cryptocurrency MegaCap Index.

Additional cryptocurrencies will be added in the future, S&P Dow Jones said in a statement. The listed crypto indexes will track data from New-York based virtual-currency company Lukka.

The S&P Global division first announced

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Capital gains tax hikes and stock market performance

No question President Biden’s proposed higher 39.6% capital gains tax rate on those earning over $1 million is making many stock investors queasy, but the stock market impact may be more muted than some expected, according to Goldman Sachs. 

“S&P 500 returns have also been weak ahead of past capital gains tax hikes, but selling was short-lived and reversed afterward” the team, led by David  Kostin, wrote to clients earlier this week. 

  (Courtesy Goldman Sachs/US Weekly Kickstart 4/23/2021)

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Mortgage Rate Forecast For May 2021: Will Recent Lower Rates Last?


Springtime can be full of surprises, and this season delivered a plot twist — a drop in mortgage rates. After rising steadily the previous two months, rates dipped throughout April.

Plenty of people didn’t see that one coming. So the experts have taken a closer look at the financing climate ahead and determined whether earlier 2021 rate predictions need to be reassessed. Their consensus? Don’t expect rates to drop any further in the coming months.

The May rate outlook

At the end of April, the benchmark 30-year fixed-rate mortgage averaged 3.20 percent, according to Bankrate’s national survey of lenders –

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DeFi Exchange Uranium Finance Loses $50M in Exploit

A Binance Smart Chain Uniswap clone, Uranium Finance, lost $50 million in tokens early Wednesday morning in an exploit.

The attacker took advantage of a vulnerability that has been present in Uranium’s v2 contracts since the exchange upgraded over a week ago. After sending the minimum required tokens into Uranium’s “pair contracts,” the attacker drained the liquidity pools for multiple token pairs; a misplaced zero in the contract’s balance field (or rather, the lack of one in a section that manages reserves) created the opening for the attack vector.

Out of the $50 million filched, pools for Binance’s blockchain token

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Tesla Reveals $101 Million Bitcoin Profit, Still Holds $1.3 Million

  • Tesla says it cashed out $272 million in bitcoin in the first quarter of 2021. 
  • The company made $101 million in profits from the sale, it said Monday.
  • Tesla disclosed the sale as part of its first-quarter earnings, which showed continued profitability. 
  • See more stories on Insider’s business page.

Tesla made a splash when it announced that it had bought $1.5 billion worth of bitcoin in February — and it’s already profited more than $100 million from the investment. 

Elon Musk’s automaker on Monday said that it sold $272 million worth of digital assets during the first three months of

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Wall Street can’t keep up with the market: Morning Brief

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe

Tuesday, May 4, 2021

Price targets and economic forecasts fall behind

Readers of the Morning Brief know investor expectations were high ahead of earnings season, that companies have topped expectations at a record rate, and that the economy is firing on all cylinders. 

And these events have pushed Wall Street strategists back into another theme we’ve written about in this space for the last few months — trying to keep up with the market. 

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