Updated version at 8.00 am
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May 3, 2021,
- Robinhood Market’s largest source of revenue – payment for order flow – more than tripled in the first quarter, reached about US$331 million up from US$91 million a year ago.
- Stocks in Asia are set for a muted start to the week with some major markets closed for a holiday and inflation concerns resurfacing. U.S. futures opened higher.
- Investors will have another packed schedule of corporate earnings reports to consider, alongside the latest monthly jobs report from the Labor Department.
- Intel Corp said it will invest another $600 million in Israel to expand its research and development (R&D).
- Billionaire Warren Buffett warned people not to think investing is an easy way to make a fortune, most people will fare better by owning an S&P 500 index fund instead of betting on individual stocks.
- The pandemic has given Indonesian hospitals a ‘once in a lifetime opportunity’ to prove their quality of care, an analyst says. As the country’s borders stay shut for a year and counting, people who used to travel overseas for medical treatment are turning to local hospitals.
- Wells Fargo Securities’ Chris Harvey is calling Big Tech’s recent outperformance a “head fake.” Take some profits, the firm’s head of equity strategy told CNBC’s “Trading Nation” on Friday.
- Bibit.id, a robo-advisor startup in Indonesia, announced today it has raised US$65 million in a funding round led by Sequoia Capital India.
- Apple has gone on sprees picking up multiple firms in fields such as augmented and virtual reality, artificial intelligence, maps, health, and semiconductors, signaling an increased emphasis on those technologies.
- Four-year old startup Pune-based ElasticRun, a platform that connects FMCG (fast-moving consumer goods) and ecommerce companies with mom and pop stores in India’s rural areas, has raised US$75 million in a round co-led by existing investors Avataar Ventures and Prosus Ventures.