We like to stay on top of the news. Here are some of the investing and stock market news articles we read this week. If you read something interesting too, share it! Email me at firstname.lastname@example.org
- Mexico’s New Stock Exchange Rings Opening Bell: Mexico’s second stock exchange, BIVA, launched on Wednesday in a bid to entice more companies to go public in Latin America’s No. 2 economy, increase investments and help spur sluggish economic growth.
- U.S. Economy Grows 4.1% in Second Quarter: U.S. GDP grew at the fastest pace in almost four years during the second quarter. Also, growth in the first quarter was revised up to 2.2% from 2%.
- Amazon On Track to Cross $900B Market Cap After Blowout 2Q Earnings: Amazon reported 2Q earnings per share of over $5 – more than double analyst estimates – on Thursday. The stock shot up nearly 4% in after hours trading.
- Facebook loses $120 billion in market cap after awful Q2 earnings: On Wednesday when the market closed, Facebook stock was at an all-time high. Then they announced earnings – and revealed disappointing 2Q earnings and forecasts. The stock tumbled more than 20%, wiping up to $120bn off the company’s value, one of Facebook’s largest after-market drops ever.
- Elon Musk’s ‘Productivity’ Email to Tesla Employees Is Required Reading for Every Entrepreneur: Musk has plenty of unforgiving wisdom for skyrocketing the operations taking place at Tesla. Here are a few of the major lessons entrepreneurs can learn from it.
- Self-made millionaire: ‘I don’t save money’—here’s why: Saving cash is like saving a legal pad — it’s worthless because money, like any paper, is only good when it’s used. If you leave money in savings too long, it disappears. Here’s what to do with your cash.
- European auto stocks soar after Trump-Juncker ‘ceasefire’: Car stocks in Europe were on a roll Thursday lunchtime with Fiat Chrysler trading up 5.2 percent, Porsche up 3.6 percent, BMW up 3.5 percent, Volkswagen was up 3.4 percent and Daimler up 2.6 percent.
- The Gates Foundation is now one of Berkshire’s largest shareholders: Warren Buffett for years has been giving away some of his considerable wealth to the foundation run by his pals Bill and Melinda Gates
- The Winklevoss twins’ bitcoin ETF was rejected: In a 92-page decision released Thursday, the SEC was not persuaded that the twins and their company could protect investors from abuse and fraud. The agency said it would not approve the first-ever bitcoin ETF because the digital currency isn’t “resistant to manipulation.” The Winklevoss twins own cryptocurrency exchange Gemini Trust, where the ETF would’ve been traded on.