Quote To Start The Day: “In three words I can sum up everything I've learned about life: it goes on.”
Source: Robert Frost
One Big Thing In Fintech: Robinhood, the free-trading app that helped drive a surge in retail investing during the pandemic, has switched to using JPMorgan Chase to handle crucial money transfers into customers’ accounts.
Source: CNBC
Other Key Fintech Developments:
- Apex Fintech has blow-out earnings.
- Coatue leads Alchemy’s $80M raise.
- New fintech groups form on scrutiny.
- Coinbase buying data platform Skew.
- Cboe Europe receives bank backing.
- Evolution of European bond markets.
- Apple is charged with antitrust breach.
- Fidelity added digital asset analytics.
- Deutsche Börse, Commerzbank team.
- Wall Street banks ditch fax machines.
- Wealthfront eyes a crypto expansion.
- ICE sold its Coinbase stake for $1.2B.
- Goldman has quantum breakthrough.
- Paxos taps $300M to onboard clients.
Watch Out For This: If you visited Apollon Nimo at his Detroit-based Parkway Chrysler-Dodge-Jeep-Ram dealership, you might have walked out with a damn good deal. In fact, your deal might have been too good to be true.
That’s because Nimo was illegally using employee discounts to cut customers good deals, even when those customers failed to qualify for that discount, Auto News reports. In fact, he scammed FCA—now Stellantis—out of about $8.7 million.
Source: Jalopnik
Interesting Reads:
- Quick Pitch: Changing LA’s outlook.
- Crypto’s shadow currency growing.
- MindMed is now public on Nasdaq.
- Bridgewater co-CIO talking bubbles.
- Creators bank selling spreadsheets.
- Demand boosts rental car startups.
- Industries being disrupted by Musk.
Market Moving Headline: U.S. broad market indices closed the week out flat-to-down after a failed attempt to break higher on Thursday, April 29. Last week’s action suggests participants are looking for more information to initiate a directional move.
Key Takeaways:
- Policy leaders, creators: Inflation pockets transitory.
- Ahead: Data on labor, manufacturing, and earnings.
- Markets balancing, positions for directional resolve.
In the coming sessions, participants will want to pay attention to where the S&P 500 trades in relation to its $4,186.75-$4,110.50 balance area.
Any activity above (below) the balance-area high suggests participants are interested in discovering higher (lower) prices. Any activity within the balance area suggests participants are looking for more information to base their next move; in such case, responsive buying and selling is the course of action.
Source: Physik Invest
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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