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Shopify Upgraded to Buy at Jefferies on Internet Shopping Growth

Shopify shares rose Thursday after Jefferies analyst Samad Samana upgraded the online-shopping host to buy from hold and lifted his share-price target to $1,250 from $1,150. “We have a greater appreciation for SHOP's ability to deliver robust growth for the next several years and reach about $10 billion of revenue in 2025, powered by a structural pull-forward in e-commerce activity and better monetization of ,” he wrote in a commentary. Shopify shares recently traded at $977.90, up 5%. They have well more than doubled…

Disney Reopens California Adventure Only for Shopping, Dining

Disney's California Adventure theme park on Thursday reopened some shops and restaurants on Buena Vista Street, even as the U.S. crossed a grim milestone of 250,000 deaths due to the coronavirus. The Anaheim theme park and Disneyland remained closed due to statewide coronavirus restrictions. On Nov. 5 Disney had said that a portion of California Adventure would reopen for shopping and outdoor dining. California has recorded about 1.07 million active cases of coronavirus, and nearly 18,500 people there have died of…

U.S. coronavirus deaths surpass 250,000

U.S. coronavirus deaths topped a quarter-million on Wednesday, as the latest wave of infections continues to surge across the nation. According to data from Johns Hopkins University, 250,029 Americans have died from COVID-19 so far, with nearly 11.5 million confirmed cases. Deaths have totaled more than 1,000 a day for eight of the past nine days, according to Hopkins data. While that it the highest average number of deaths in months, it is still below the worst days of April, when more than 2,000 were dying a day.…

Bitcoin rises over $18,000 and touches record market value, exceeding its 2017 top

The world’s most prominent digital currency on Wednesday was back to carving out records just like it was 2017. The No. 1 crypto’s nearly 11.7% weekly rise and 34% gain so far in November has helped the asset hit a market value of around $334 billion, according to digital-currency data site CoinMarketCap. That level surpasses the roughly $322.7 billion value that bitcoin hit on Dec. 17 when its price was nearly $20,000 (see chart). CoinMarketCap.com Although bitcoin’s price BTCUSD, +0.15% BTCUSD, +0.15% hasn’t…

Philadelphia Sets Second Lockdown, Restricts Holiday Gatherings

Philadelphia will enter another lockdown, set to begin on Friday and run through Jan. 1, as the city seeks to deal with a vicious second wave of the coronavirus pandemic. Philly thus becomes the first major U.S. city to impose a second lockdown. “There’s no doubt these changes are necessary,” said Mayor Jim Kenney, according to the Philadelphia Inquirer. Office workers will have to stay home, indoor restaurant dining will cease and gymnasiums and museums will shutter. The shutdown also stipulates restrictions on…

Dow and S&P 500 Set Closing Records on Moderna Vaccine Optimism

The Dow Jones Industrial Average and S&P 500 surged to record closing highs Monday after Moderna said its coronavirus vaccine candidate was 94.5% effective in a late-stage clinical trial. The Dow rose by 470.63 points, or 1.6%, to 29,950.44.  The S&P 500 rose 41.76, or 1.16%, to 3,626.91. The Nasdaq ended up 0.8%. The Dow's previous all-time closing high of 29,551 was set on Feb. 12. The S&P 500's previous closing record of 3,585 was set on Friday. Moderna's efficacy rate topped the 90% efficacy rate…

Stocks Rebound and Close Higher; Dow Up 400, Led by Cisco

Stocks finished higher Friday as Wall Street rebounded from the previous session's declines that came amid soaring coronavirus cases. The Dow Jones Industrial Average finished up 399 points, or 1.37%, to 29,479, the S&P 500 rose 1.36% and the Nasdaq gained 1.02%. For the week the Dow Jones Industrial Average was up 4.1% and the S&P 500 moved up 2.2%. The Nasdaq Composite eased 0.6%. Cisco Systems posted stronger-than-expected fiscal first-quarter earnings as services and security revenue offset a slump in…

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