Asian shares advance after gains on Wall Street

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A woman wearing a face mask walks past a bank’s electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Monday, April 26, 2021. (AP Photo/Vincent Yu)

AP

Shares opened higher in Asia on Monday after a strong finish last week on Wall Street.

Tokyo, Hong Kong, Seoul and Shanghai all started out with modest gains and U.S. futures also edged higher. Oil prices slipped.

Stocks climbed Friday in New York, though the S&P 500 still ended with its first weekly loss in the last five. Technology stocks and banks led

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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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IRS offers safe harbor for claiming PPP loan deductions

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.

The Internal Revenue Service and the Treasury released Revenue Procedure 2021-20 on Thursday, which provides a safe harbor in accordance with a provision in last December’s COVID-19 relief package. Under the previous rules, businesses that received PPP loans in 2020 to cover their payroll costs, mortgage interest, rent and utility payments couldn’t deduct the corresponding expenses. But once the Consolidated Appropriations Act was enacted last December, businesses were allowed to

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UW-Madison Vice Chancellor for Finance & Administration Laurent Heller leaving next month

MADISON, Wis. — University of Wisconsin-Madison Vice Chancellor for Finance and Administration Laurent Heller will leave the university later this summer to take a similar role at Johns Hopkins University.

According to a news release, Interim Associate Vice Chancellor for Facilities Planning & Management Rob Cramer has been named interim vice chancellor, effective May 21.

“We’re very happy that Laurent is taking a next step in his career, but deeply sorry to see him go,” said Chancellor Rebecca Blank in a statement. “His contributions over the past

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Bitcoin? Etherium? Dogecoin? Your guide to the crypto coins that matter

With new “coins” cropping up all the time, it’s hard to keep track of what’s worth paying attention to and what might not be here to stay.

Meanwhile, major companies are jumping on the bandwagon: Tesla announced earlier this year that customers may buy vehicles with bitcoin. Digital payment platform Square (SQ) and PayPal (PYPL), which also owns transfer app Venmo, now also allow customers to use cryptos.
Ranked by their market capitalization in US dollars, the biggest cryptocurrencies in the world are bitcoin, Ethereum, Binance Coin, XRP and Tether, according to CoinMarketCap.

Their market … Read More

WWE body slams Wall Street’s forecasts

World Wrestling Entertainment Inc. easily beat Wall Street forecasts for first-quarter adjusted profit. 
 

WWE, as the media and entertainment company focused on wrestling is called, also reported net income of $43.8 million for the period, up from $26.2 million. 

Earnings were up to 51 cents from 31 cents on a per-share basis. Profit following adjustments also amounted to 51 cents a share. 

Ticker Security Last Change Change %
WWE WORLD WRESTLING ENTERTAINMENT, INC. 54.23 -1.99 -3.54%

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Revenue fell to $263.5 million from $291 million. The company

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3 Hypergrowth Stocks With 44% to 80% Upside, According to Wall Street

Over the long run, there’s arguably no greater wealth creator on the planet than the stock market. For the past 41 years, through the dot-com bubble, Great Recession, and now, coronavirus crash, the broad-based S&P 500 has averaged an annual total return, including dividends, of more than 10%. Put another way, investors in S&P 500 tracking indexes are doubling their money about every seven years, inclusive of reinvestment.

It doesn’t matter whether the market is in the midst of a sell-off or is hitting new all-time highs. There are always bargains to be found, at least according to Wall Street.

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Wall Street Opens Mixed on Partial Rebound from Tax Shock; Dow Down 50 Pts

By Geoffrey Smith 

Investing.com — U.S. stock markets opened mixed on Friday, regaining some composure after its heaviest fall in weeks in response to reports of a looming hike in capital gains taxes.

A report by Bloomberg indicated that President Joe Biden is planning to raise the marginal rate of capital gains tax to around 40% from a base rate of 20% currently, aiming to raise revenue for a swatch of social spending projects.

The rise would reverse a major element of President Donald Trump’s tax cuts in 2017 and creates an obvious incentive for stock investors to realize gains

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Wall Street sees long road ahead as Intel seeks to regain market share

By Akanksha Rana and Eva Mathews

(Reuters) – Intel Corp’s shares fell 7% on Friday as Wall Street analysts raised concerns about how soon the chipmaker can close the gap with rivals as it spends billions of dollars to increase manufacturing.

In recent years, Intel has struggled with building new manufacturing technology causing it to fall behind rivals Advanced Micro Devices Inc and Nvidia Corp in the race to make smaller chips with a faster processing speed.

Patrick Gelsinger, who returned to the company as CEO this year, has announced plans to spend as much as $20 billion to build

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Wall Street rallies on strong economic data; tech in focus

(Reuters) -U.S. stocks rallied on Friday, driving the S&P 500 to a near-record closing high, after factory data and new home sales underscored a booming economy while megacap stocks rose in anticipation of strong earnings reports next week.

The bounceback follows a sell-off on Thursday when reports that U.S. President Joe Biden plans to almost double the capital gains tax spooked investors. Analysts dismissed the slide as a knee-jerk reaction and pointed to the strong outlook.

As the three major Wall Street indexes surged, the CBOE market volatility or “fear” index plunged almost 10% in a sign of tumbling investor

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