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Dow Jones Jumps 500 Points After House Stimulus Vote; DraftKings Stock Soars

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InvestorPlace

Marathon Digital’s Bitcoin Story Faces Some Serious Questions

Marathon Digital (NASDAQ:MARA) has been one of the single biggest winners of the past year. Incredibly, over the past 12 months, MARA stock is up more than 12,000%. Some of that is due to how low shares plunged during March of 2020, of course. But the run has been incredible regardless. As recently as November, MARA stock sold for $2. Now it’s in the high $40s. Source: Shutterstock The reason for the recovery is pretty clear: Bitcoin (CCC:BTC-USD) is back. Last year, crypto’s star had dimmed a bit. But now, with aggressive central bank actions to bolster the economy, traders fear inflation and are buying assets such as Bitcoin as hedges. Marathon Digital, a Bitcoin mining company, has naturally benefitted from the abrupt change in sentiment. However, speculators have gotten ahead of themselves in MARA stock. Marathon Is Still a Tiny

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Dow Rallies As House Clears Way For Stimulus; Apple Jumps On Car Buzz, While GME Stock Crumbles 37%

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Bloomberg

OPEC+ Is Poised to Cool Down Oil Market With Extra Production

(Bloomberg) — OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices.There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present — with Saudi Arabia cautious and Russia keen to open the taps — all sides are ready to increase production, they said, asking not to be named because the information was private.That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday.An agreement to hike OPEC+ supply would be the latest sign that the global economy is recovering from the damage wrought by the coronavirus pandemic. The cartel has endured a year of pain, dominated by

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Second stimulus check: House GOP kills $2,000 proposal and leaves $600 deal in limbo

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If a deal is reached, experts say it will take at least two weeks for the Treasury to get cash into individuals’ bank accounts after any new legislation is signed.

“The timing could be more challenging this time, but the IRS could likely begin to get the money out in January,” said Howard Gleckman, a senior fellow at the Urban-Brookings Tax Policy Center.

In March, Congress provided individuals with $1,200 direct payments and couples with $2,400 plus $500 per child under the $2 trillion CARES Act.

As with that first round, the $600 payments included in the current legislation would start phasing out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 won’t receive anything. The income thresholds would be doubled for couples.

It took two weeks after the first bill was passed for the IRS to start distributing the money — but
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White House willing to cut a stimulus deal without ‘liability shield,’ breaking with McConnell

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One of the people familiar with the administration’s thinking said the measure was “considered important but not absolutely essential.”

White House spokeswoman Kayleigh McEnany told reporters on Friday that the liability shield was McConnell’s priority but that Trump wanted unemployment insurance extended.

“That’s a question for Mitch McConnell … that’s his priority,” McEnany said, when asked if the administration would insist on a liability shield. “This president is very keenly focused on unemployment insurance.”

The dealmaking flexibility conflicts with the ultimatum McConnell has given Democrats that any congressional stimulus package must make it significantly harder for workers and customers to sue employers and businesses for damages related to the coronavirus.

McConnell has said he will not bring up legislation for a vote in the Senate if it does not include the liability measure. “We’re not negotiating over liability protection,” McConnell told CNBC on Tuesday. “We’re not negotiating with Democrats over

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