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- Feli80Feli80
  ·2021-05-14
  What is this?
  Binance faces probe by US Justice Department and IRS to root out illicit activity
  Bitcoin losses accelerated Thursday after Bloomberg reported the investigation into Binance.
  Binance faces probe by US Justice Department and IRS to root out illicit activity
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- Feli80Feli80
  ·2021-05-14
  Yes..buy
  Wall Street closes higher in 'buy the dip' session
  NEW YORK, May 13 - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom."If this is a footrace, supply chains are still tying th
  Wall Street closes higher in 'buy the dip' session
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Led by Changpeng Zhao, a charismatic tech executive who relishes promoting tokens on <a href=\"https://laohu8.com/S/TWTR\">Twitter</a> and in media interviews, Binance has leap-frogged rivals since he co-founded it in 2017.</p>\n<p>The firm, like the industry it operates in, has succeeded largely outside the scope of government oversight. Binance is incorporated in the Cayman Islands and has an office in Singapore but says it lacks a single corporate headquarters. Chainalysis Inc., a blockchain forensics firm whose clients include US federal agencies, concluded last year that among transactions that it examined, more funds tied to criminal activity flowed through Binance than any other crypto exchange.</p>\n<p>“We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion,” Binance spokeswoman Jessica Jung said in an emailed statement, while adding that the company doesn’t comment on specific matters or inquiries. “We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity.”</p>\n<p>Spokespeople for the Justice Department and IRS declined to comment.</p>\n<p><b>US Concerns</b></p>\n<p>US officials have expressed concerns that cryptocurrencies are being used to conceal illegal transactions, including theft and drug deals, and that Americans who’ve made windfalls betting on the market’s meteoric rise are evading taxes. Such worries have been a hindrance to the industry going mainstream, even as Wall Street increasingly embraces Bitcoin and other tokens amid a global investing frenzy.</p>\n<p>This month’s cyber-attack against Colonial Pipeline Co. that’s triggered fuel shortages across the Eastern US is the latest sign of what’s at stake. Colonial paid Eastern European hackers a nearly $5 million ransom in untraceable cryptocurrency within hours of the breach, Bloomberg News&nbsp;reported&nbsp;Thursday, citing two people familiar with the matter.</p>\n<p>Bitcoin losses accelerated Thursday after Bloomberg reported the investigation into Binance.</p>\n<p>While the Justice Department and IRS probe potential criminal violations, the specifics of what the agencies are examining couldn’t be determined, and not all inquiries lead to allegations of wrongdoing.</p>\n<p>The officials involved include prosecutors within the Justice Department’s bank integrity unit, which probes complex cases targeting financial firms, and investigators from the US Attorney’s Office in Seattle. The scrutiny by IRS agents goes back months, with their questions signaling that they’re reviewing both the conduct of Binance’s customers and its employees, another person said.</p>\n<p>The US Commodity Futures Trading Commission has also been investigating Binance over whether it permitted Americans to make illegal trades, Bloomberg&nbsp;reported&nbsp;in March. In that case, authorities have been examining whether Binance let investors buy derivatives that are linked to digital tokens. US residents are barred from purchasing such products unless the firms offering them are registered with the CFTC.</p>\n<p><b>Analyzing Transactions</b></p>\n<p>Zhao has said Binance closely follows US rules, blocks Americans from its website, and uses advanced technology to analyze transactions for signs of money laundering and other illicit activity. Last year, the firm warned that US residents would have their accounts frozen if they were found to be trading, crypto trade publications have reported.</p>\n<p>The inquiries follow a Chainalysis&nbsp;report&nbsp;on criminal transactions involving digital tokens. The firm tracked Bitcoin worth $2.8 billion that it suspects crooks moved on to trading platforms in 2019. Chainalysis determined that roughly 27%, or $756 million, wound up on Binance. Binance responded by saying it adheres to all anti-money laundering regulations in the jurisdictions in which it operates and works with partners like Chainalysis to improve its systems.</p>\n<p>In the US, authorities have been cracking down on exchanges for flouting laws that are meant to prevent financial crimes, with officials citing the platforms use by terrorists and hackers. Tax violations have also been a priority, with the government recently winning a court order as it seeks to unmask US clients of Kraken, a San Francisco-based exchange.</p>\n<p>In October, federal prosecutors in <a href=\"https://laohu8.com/S/MHC.AU\">Manhattan</a>&nbsp;announced&nbsp;charges against the founders of Seychelles-based BitMEX, accusing them of violating the Bank Secrecy Act by permitting thousands of US customers to trade while publicly claiming to restrict their access. The claims included failing to register as a futures merchant with the CFTC and not having adequate anti-money laundering controls. Three of the BitMex officials pleaded not guilty and a trial has been scheduled for March 2022. One remains at large.</p>\n<p><b>Washington Presence</b></p>\n<p>With the US circling, Binance has stepped up its presence in Washington and retained a former Treasury Department official and top white-collar defense lawyers to represent it in legal cases and matters being reviewed by regulators. In March, the firm tapped former US Senator Max Baucus, a Montana Democrat, to advise it on policy and government relations.</p>\n<p>In September 2019, Binance partnered with a firm called BAM Trading Services Inc., which launched Binance.US to cater to American clients. Brian Brooks, who was a top banking regulator when he led the Office of the Comptroller of the Currency during the Trump administration, became chief executive officer of Binance.US this month.</p>\n<p>Amid the hiring blitz, the company has popped up in US cases tied to criminal activity. In February, two Florida men were charged with running an online fentanyl trafficking operation, with <a href=\"https://laohu8.com/S/AONE\">one</a> of them accused of depositing the proceeds in a Binance account. That same month, the Justice Department sought the forfeiture of cryptocurrency worth $450,000 traced from ransomware attacks that hit several US companies to a Binance account held by a 20-year-old Ukrainian national. The government didn’t accuse Binance of wrongdoing in either enforcement action.</p>\n<p><b>Disguising Locations</b></p>\n<p>Along with the CFTC, the Justice Department is likely to examine steps that Binance has taken to keep US residents off its exchange. One person familiar with Binance’s operations said that prior to the establishment of&nbsp;Binance.US, Americans were advised to use a virtual proxy network, or VPN, to disguise their locations when seeking to access the exchange.</p>\n<p>Jung, the Binance spokeswoman, said the exchange has never encouraged US residents to use VPNs to get around its rules, as doing so would be something “that has always been contrary to our company’s principles.” In January, Zhao&nbsp;tweeted&nbsp;that Binance’s security systems block Americans even if they try to connect through <a href=\"https://laohu8.com/S/AONE.U\">one</a> of the networks.</p>\n<p>“We have implemented strong access controls that have been tested via external audit and are under continuous review and evaluation by Binance to ensure that the appropriate restrictions are in place and are effective,” Jung said.</p>","source":"edge_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBinance faces probe by US Justice Department and IRS to root out illicit activity\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-14 09:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.theedgesingapore.com/news/cryptocurrency/binance-faces-probe-us-justice-department-and-irs-root-out-illicit-activity?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Bitcoin losses accelerated Thursday after Bloomberg reported the investigation into Binance.\nBinance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ...</p>\n\n<a href=\"https://www.theedgesingapore.com/news/cryptocurrency/binance-faces-probe-us-justice-department-and-irs-root-out-illicit-activity?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.theedgesingapore.com/news/cryptocurrency/binance-faces-probe-us-justice-department-and-irs-root-out-illicit-activity?utm_source=Blog&utm_medium=RSS&utm_campaign=Tiger_Brokers_app_RSS","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135675917","content_text":"Bitcoin losses accelerated Thursday after Bloomberg reported the investigation into Binance.\nBinance Holdings Ltd. is under investigation by the Justice Department and Internal Revenue Service, ensnaring the world’s biggest cryptocurrency exchange in US efforts to root out illicit activity that’s thrived in the red-hot but mostly unregulated market.\nAs part of the inquiry, officials who probe money laundering and tax offenses have sought information from individuals with insight into Binance’s business, according to people with knowledge of the matter who asked not to be named because the probe is confidential. Led by Changpeng Zhao, a charismatic tech executive who relishes promoting tokens on Twitter and in media interviews, Binance has leap-frogged rivals since he co-founded it in 2017.\nThe firm, like the industry it operates in, has succeeded largely outside the scope of government oversight. Binance is incorporated in the Cayman Islands and has an office in Singapore but says it lacks a single corporate headquarters. Chainalysis Inc., a blockchain forensics firm whose clients include US federal agencies, concluded last year that among transactions that it examined, more funds tied to criminal activity flowed through Binance than any other crypto exchange.\n“We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion,” Binance spokeswoman Jessica Jung said in an emailed statement, while adding that the company doesn’t comment on specific matters or inquiries. “We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity.”\nSpokespeople for the Justice Department and IRS declined to comment.\nUS Concerns\nUS officials have expressed concerns that cryptocurrencies are being used to conceal illegal transactions, including theft and drug deals, and that Americans who’ve made windfalls betting on the market’s meteoric rise are evading taxes. Such worries have been a hindrance to the industry going mainstream, even as Wall Street increasingly embraces Bitcoin and other tokens amid a global investing frenzy.\nThis month’s cyber-attack against Colonial Pipeline Co. that’s triggered fuel shortages across the Eastern US is the latest sign of what’s at stake. Colonial paid Eastern European hackers a nearly $5 million ransom in untraceable cryptocurrency within hours of the breach, Bloomberg News reported Thursday, citing two people familiar with the matter.\nBitcoin losses accelerated Thursday after Bloomberg reported the investigation into Binance.\nWhile the Justice Department and IRS probe potential criminal violations, the specifics of what the agencies are examining couldn’t be determined, and not all inquiries lead to allegations of wrongdoing.\nThe officials involved include prosecutors within the Justice Department’s bank integrity unit, which probes complex cases targeting financial firms, and investigators from the US Attorney’s Office in Seattle. The scrutiny by IRS agents goes back months, with their questions signaling that they’re reviewing both the conduct of Binance’s customers and its employees, another person said.\nThe US Commodity Futures Trading Commission has also been investigating Binance over whether it permitted Americans to make illegal trades, Bloomberg reported in March. In that case, authorities have been examining whether Binance let investors buy derivatives that are linked to digital tokens. US residents are barred from purchasing such products unless the firms offering them are registered with the CFTC.\nAnalyzing Transactions\nZhao has said Binance closely follows US rules, blocks Americans from its website, and uses advanced technology to analyze transactions for signs of money laundering and other illicit activity. Last year, the firm warned that US residents would have their accounts frozen if they were found to be trading, crypto trade publications have reported.\nThe inquiries follow a Chainalysis report on criminal transactions involving digital tokens. The firm tracked Bitcoin worth $2.8 billion that it suspects crooks moved on to trading platforms in 2019. Chainalysis determined that roughly 27%, or $756 million, wound up on Binance. Binance responded by saying it adheres to all anti-money laundering regulations in the jurisdictions in which it operates and works with partners like Chainalysis to improve its systems.\nIn the US, authorities have been cracking down on exchanges for flouting laws that are meant to prevent financial crimes, with officials citing the platforms use by terrorists and hackers. Tax violations have also been a priority, with the government recently winning a court order as it seeks to unmask US clients of Kraken, a San Francisco-based exchange.\nIn October, federal prosecutors in Manhattan announced charges against the founders of Seychelles-based BitMEX, accusing them of violating the Bank Secrecy Act by permitting thousands of US customers to trade while publicly claiming to restrict their access. The claims included failing to register as a futures merchant with the CFTC and not having adequate anti-money laundering controls. Three of the BitMex officials pleaded not guilty and a trial has been scheduled for March 2022. One remains at large.\nWashington Presence\nWith the US circling, Binance has stepped up its presence in Washington and retained a former Treasury Department official and top white-collar defense lawyers to represent it in legal cases and matters being reviewed by regulators. In March, the firm tapped former US Senator Max Baucus, a Montana Democrat, to advise it on policy and government relations.\nIn September 2019, Binance partnered with a firm called BAM Trading Services Inc., which launched Binance.US to cater to American clients. Brian Brooks, who was a top banking regulator when he led the Office of the Comptroller of the Currency during the Trump administration, became chief executive officer of Binance.US this month.\nAmid the hiring blitz, the company has popped up in US cases tied to criminal activity. In February, two Florida men were charged with running an online fentanyl trafficking operation, with one of them accused of depositing the proceeds in a Binance account. That same month, the Justice Department sought the forfeiture of cryptocurrency worth $450,000 traced from ransomware attacks that hit several US companies to a Binance account held by a 20-year-old Ukrainian national. The government didn’t accuse Binance of wrongdoing in either enforcement action.\nDisguising Locations\nAlong with the CFTC, the Justice Department is likely to examine steps that Binance has taken to keep US residents off its exchange. One person familiar with Binance’s operations said that prior to the establishment of Binance.US, Americans were advised to use a virtual proxy network, or VPN, to disguise their locations when seeking to access the exchange.\nJung, the Binance spokeswoman, said the exchange has never encouraged US residents to use VPNs to get around its rules, as doing so would be something “that has always been contrary to our company’s principles.” In January, Zhao tweeted that Binance’s security systems block Americans even if they try to connect through one of the networks.\n“We have implemented strong access controls that have been tested via external audit and are under continuous review and evaluation by Binance to ensure that the appropriate restrictions are in place and are effective,” Jung said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":2,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":198691484,"gmtCreate":1620954271248,"gmtModify":1704351022235,"author":{"id":"3583635719977412","authorId":"3583635719977412","name":"Feli80","avatar":"https://static.tigerbbs.com/8d19f25b647c9ecc0c4edce3817bd1ef","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3583635719977412","idStr":"3583635719977412"},"themes":[],"htmlText":"Yes..buy","listText":"Yes..buy","text":"Yes..buy","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/198691484","repostId":"2135945620","repostType":4,"repost":{"id":"2135945620","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1620936034,"share":"https://ttm.financial/m/news/2135945620?lang=&edition=fundamental","pubTime":"2021-05-14 04:00","market":"us","language":"en","title":"Wall Street closes higher in 'buy the dip' session","url":"https://stock-news.laohu8.com/highlight/detail?id=2135945620","media":"Reuters","summary":"NEW YORK, May 13  - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.\"If this is a footrace, supply chains are still tying th","content":"<p>NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.</p><p>All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.</p><p>Meanwhile, cyclical shares enjoyed the biggest gains.</p><p>Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.</p><p>\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"</p><p>But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.</p><p>This was evidenced by the outperformance of small caps, chips&nbsp;and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.</p><p>\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.</p><p>New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.</p><p>Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.</p><p>\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"</p><p>But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.</p><p>The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&amp;P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 ended green, with industrials enjoying the largest percentage gain.</p><p>Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]</p><p>Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.</p><p>Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.</p><p>Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.</p><p>Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.</p><p>Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report：</i></b></p><p><a href=\"https://laohu8.com/NW/1143623731\" target=\"_blank\">Disney+ subscriber growth is slowing like Netflix's — with one worrisome difference</a></p><p><a href=\"https://laohu8.com/NW/1149765041\" target=\"_blank\">Coinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 Weeks</a></p><p><a href=\"https://laohu8.com/NW/2135732206\" target=\"_blank\">Airbnb bookings jump 52% as vaccinations spur vacation rental demand</a></p><p><a href=\"https://laohu8.com/NW/2135555675\" target=\"_blank\">DoorDash triples gross order volume and nearly triples revenue in first quarter</a></p><p><a href=\"https://laohu8.com/NW/2135283678\" target=\"_blank\">Aurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cuts</a></p><p><a href=\"https://laohu8.com/NW/2135787576\" target=\"_blank\">Farfetch’s First-quarter Sales Run Up 46.4 Percent</a></p><p><a href=\"https://laohu8.com/NW/1100486329\" target=\"_blank\">Luminar stock dips after mixed Q1 report with wider than exp</a></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Wall Street closes higher in 'buy the dip' session</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; 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height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWall Street closes higher in 'buy the dip' session\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-05-14 04:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.</p><p>All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.</p><p>Meanwhile, cyclical shares enjoyed the biggest gains.</p><p>Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.</p><p>\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"</p><p>But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.</p><p>This was evidenced by the outperformance of small caps, chips&nbsp;and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.</p><p>\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.</p><p>New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.</p><p>Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.</p><p>\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"</p><p>But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.</p><p>The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&amp;P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.</p><p>Of the 11 major sectors in the S&amp;P 500, 10 ended green, with industrials enjoying the largest percentage gain.</p><p>Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]</p><p>Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.</p><p>Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.</p><p>Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.</p><p>Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.</p><p>Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.</p><p>The S&amp;P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.</p><p>Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.</p><p><b><i>Financial</i></b><b>&nbsp;</b><b><i>Report：</i></b></p><p><a href=\"https://laohu8.com/NW/1143623731\" target=\"_blank\">Disney+ subscriber growth is slowing like Netflix's — with one worrisome difference</a></p><p><a href=\"https://laohu8.com/NW/1149765041\" target=\"_blank\">Coinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 Weeks</a></p><p><a href=\"https://laohu8.com/NW/2135732206\" target=\"_blank\">Airbnb bookings jump 52% as vaccinations spur vacation rental demand</a></p><p><a href=\"https://laohu8.com/NW/2135555675\" target=\"_blank\">DoorDash triples gross order volume and nearly triples revenue in first quarter</a></p><p><a href=\"https://laohu8.com/NW/2135283678\" target=\"_blank\">Aurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cuts</a></p><p><a href=\"https://laohu8.com/NW/2135787576\" target=\"_blank\">Farfetch’s First-quarter Sales Run Up 46.4 Percent</a></p><p><a href=\"https://laohu8.com/NW/1100486329\" target=\"_blank\">Luminar stock dips after mixed Q1 report with wider than exp</a></p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite",".DJI":"道琼斯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2135945620","content_text":"NEW YORK, May 13 (Reuters) - Wall Street ended sharply higher at the close of a broad rally on Thursday, bouncing back from three straight days of selling on upbeat labor market data.All three major U.S. stock indexes notched solid gains, with the Nasdaq, weighed by Tesla Inc , picking up the rear.Meanwhile, cyclical shares enjoyed the biggest gains.Recent economic data has prompted inflation fears as scarcity of both materials and workers threatens to send prices surging in the face of a demand boom.\"If this is a footrace, supply chains are still tying their shoes,\" said David Carter, chief investment officer at Lenox Wealth Advisors in New York. \"But they will catch up with demand fairly quickly.\"But on Thursday, investors appeared to be focusing on the glass-half-full side of the demand/supply equation.This was evidenced by the outperformance of small caps, chips and transports , economically sensitive stocks that stand to gain as the United States emerges from the pandemic recession.\"Sectors and stocks that were hurt most significantly by yesterday's sell-off rebounded strongly today given that economic growth is expected to remain strong throughout the year and any inflation is likely to be temporary,\" Carter added.New applications for unemployment insurance continue to fall, according to jobless claims data from the Labor Department that hit a 14-month low.Labor Department data also showed producer prices surged last month, building on the inflation surge narrative of Wednesday's consumer prices report.\"The inflation boogeyman is back right on cue,\" Carter said. \"And will continue to spook markets for the coming months.\"But rising prices were widely anticipated, and the U.S. Federal Reserve has provided repeated assurances that it does not foresee those spikes morphing into sustained, long-term inflation.The Dow Jones Industrial Average rose 433.79 points, or 1.29%, to 34,021.45, the S&P 500 gained 49.46 points, or 1.22%, to 4,112.5 and the Nasdaq Composite added 93.31 points, or 0.72%, to 13,124.99.Of the 11 major sectors in the S&P 500, 10 ended green, with industrials enjoying the largest percentage gain.Energy, weighed by a drop in crude prices, was the sole loser, shedding 1.4%. [O/R]Walt Disney Co shares were down nearly 5% in after-hours trading after posting quarterly results.Dating app owner Bumble Inc tumbled 14.3%, falling below its initial public offering price, as investors remained cautious about how quickly users will return to in-person meetings.Boeing Co rose 0.8% after gaining approval from U.S. regulators for a fix of an electrical grounding issue.Tesla continued its slide, dropping 3.1%, the heaviest drag on the Nasdaq, after boss Elon Musk doubled down on his sudden rejection of cryptocurrency bitcoin.Advancing issues outnumbered declining ones on the NYSE by a 1.91-to-1 ratio; on Nasdaq, a 1.06-to-1 ratio favored advancers.The S&P 500 posted 13 new 52-week highs and no new lows; the Nasdaq Composite recorded 49 new highs and 201 new lows.Volume on U.S. exchanges was 11.50 billion shares, compared with the 10.53 billion average over the last 20 trading days.Financial Report：Disney+ subscriber growth is slowing like Netflix's — with one worrisome differenceCoinbase revenue tripled from last quarter,To Offer Dogecoin In 6 To 8 WeeksAirbnb bookings jump 52% as vaccinations spur vacation rental demandDoorDash triples gross order volume and nearly triples revenue in first quarterAurora Cannabis stock plunges amid more large losses, stock-sale plans and cost cutsFarfetch’s First-quarter Sales Run Up 46.4 PercentLuminar stock dips after mixed Q1 report with wider than exp","news_type":1},"isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"following","isTTM":true}