Noel Randewich
Noel Randewich
@Reuters reporter covering stock market news. Happy to chat over mezcal.Source
Oakland, CA
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Cannabis stocks surge as Biden overhauls U.S. marijuana policy

Cannabis stocks surge as Biden overhauls U.S. marijuana policy

Shares of U.S.-listed marijuana growers and sellers surged on Thursday after President Joe Biden took executive action to change U.S. policy on the drug, pardoning all prior federal offenses of simple marijuana possession. U.S.-listed shares of Tilray Brands and Canopy Growth Corp , two well known marijuana sellers, jumped 22% and 31%, respectively. The ETFMG Alternative Harvest ETF , which includes shares of several cannabis companies, rose almost 20%.Register now for FREE unlimited access to Reuters.comBiden he was asking federal officials to start a review process of how marijuana is...

Oct 6
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S&P 500 and Dow end at record highs after Fed projects stronger economy

S&P 500 and Dow end at record highs after Fed projects stronger economy

By (Reuters) - The S&P 500 and Dow Jones Industrial Average closed at record highs on Wednesday after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero.It was the first time the Dow closed above 33,000 points.In its statement following its two-day policy meeting, the Federal Reserve projected a rapid jump in U.S. economic growth and inflation this year as the COVID-19 crisis winds down, and repeated its pledge to keep its target interest rate near zero for years to come.Wall Street extended gains after...

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March 17, 2021
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Wall Street rallies on vaccine bets, Goldman results

Wall Street rallies on vaccine bets, Goldman results

By (Reuters) - U.S. stocks ended sharply higher on Wednesday, with the S&P 500 at its highest since early June, following promising early data for a potential COVID-19 vaccine and a strong quarterly report from Goldman Sachs.The S&P 500 beat the technology-heavy Nasdaq Composite for a fourth straight session, a feat scored only twice since Wall Street launched its massive recovery last March.Gains for the Nasdaq were capped by online retail giant Amazon.com Inc, video streaming platform Netflix Inc and Microsoft Corp, which slipped after surging to record highs recently.“The Moderna...

July 15, 2020
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China bonds set to draw billions of dollars after FTSE WGBI approval

China bonds set to draw billions of dollars after FTSE WGBI approval

By , SHANGHAI (Reuters) -Index provider FTSE Russell has given its final approval for Chinese sovereign bonds to be included in its flagship bond index from later this year, setting the stage for billions of dollars of inflows into the world’s second-largest economy.But a longer-than-expected inclusion period - of 36 months, rather than one year, as FTSE had previously announced - reflects persistent concerns among some global investors about investing in the world’s second-largest bond market.Chinese government bonds (CGBs) will be added to the FTSE World Government Bond Index (WGBI) over...

March 29, 2021
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Tesla loses a third of its value for the third time in a year

Tesla loses a third of its value for the third time in a year

By (Reuters) - Tesla Inc’s stock extended losses on Monday and is now down by a third from its January record high, making it the third time in about a year that the electric car maker’s shares have corrected that dramatically.With investors worried about rising interest rates and dumping high-valuation stocks in recent weeks, Tesla’s market capitalization has fallen by almost $300 billion since its Jan. 26 record high to $550 billion, moving behind Facebook Inc, which it overtook in December after joining the S&P 500.Tesla shares fell over 4% on Monday and were down almost 35% from...

March 8, 2021
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Musk's bitcoin bet fuels gains in companies already invested

Musk's bitcoin bet fuels gains in companies already invested

By (Reuters) - Shares of companies that have invested in bitcoin have vastly outperformed on Wall Street in 2021 and are extending their gains thanks to Tesla’s $1.5 billion bet on the soaring digital currency.The price of bitcoin hit a record high over $48,000 on Tuesday in a two-day surge after Tesla said on Monday that it had bought the digital currency and would soon accept it as a form of payment for cars.A handful of bitcoin-related companies listed on U.S. stock exchanges were also buoyed by the disclosure that Tesla CEO Elon Musk, a fan of cryptocurrencies, added bitcoin to the...

February 10, 2021
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Tesla tumbles 6.5% from record high in S&P 500 debut

Tesla tumbles 6.5% from record high in S&P 500 debut

Register now for FREE unlimited access to Reuters.comDec 21 (Reuters) - Shares of Tesla ended sharply lower in their S&P 500 debut Monday, with losses accelerating after news of potential future competition from Apple . Tesla ended down 6.5% from a record high in the previous session, its steepest one-day drop in over a week. Losses steepened towards the end of the session after Reuters reported that Apple is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology. The company's shares had opened down nearly 5%. Register now for FREE...

December 21, 2020
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S&P 500 ends down, Walt Disney weighs

S&P 500 ends down, Walt Disney weighs

By , (Reuters) -The S&P 500 ended lower on Monday, weighed down by Walt Disney, while Alexion Pharmaceuticals jumped on a $39 billion buyout offer from AstraZeneca in one of the year’s biggest deals.The Dow Jones Industrial Average hit a record high before ending lower, pulled down by Walt Disney.U.S. officials began to administer the vaccine developed by Pfizer and its German partner BioNTech on Monday following emergency-use approval from federal regulators last week.Shares of Disney, down 3.65%, and Pfizer, down almost 5%, weighed more than any other stocks on the S&P 500.The...

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December 14, 2020
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Chaotic U.S. election debate fuels investors' fears of contested result

Chaotic U.S. election debate fuels investors' fears of contested result

By , , LONDON/SAN FRANCISCO/TOKYO (Reuters) - U.S. equity futures fell and volatility indicators turned jumpy as a chaotic presidential debate between incumbent Donald Trump and Democratic challenger Joe Biden heightened fears that a disputed ballot could lead to a messy transfer of power.Nagging doubts over whether Republican President Trump would agree to hand over the keys to the White House if he loses have grown in recent weeks. And during the first debate on Tuesday, Trump declined to commit to accepting the results, repeating his unfounded complaint that mail-in ballots would lead to...

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September 30, 2020
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Tesla's value drops $50 billion as Musk's promised cheaper battery three years away

Tesla's value drops $50 billion as Musk's promised cheaper battery three years away

By , , Tesla’s market cap dropped $20 billion in just two hours after trading closed Tuesday, as Musk and other Tesla executives presented their new battery and manufacturing strategies. Shares closed down 5.6% and dropped another 6.9% after hours.“Nothing Musk discussed about batteries is a done deal,” said Roth Capital Partners analyst Craig Irwin. “There was nothing tangible.”Investors had expected two significant announcements at Musk’s oft-touted “Battery Day”: The development of a “million mile” battery good for 10 years or more, and a specific cost reduction target -- expressed in...

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September 22, 2020
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