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The United States has historically been one of the most credit-worthy countries in the entire world. U.S. Treasury bonds are considered some of the safest financial instruments in international markets, and their movements are used as a benchmark for movement within the global economy.

See: Heres How Much You Need To Earn To Be Rich in Every StateFind: 10 Cheap Cryptocurrencies To Check Out

The U.S. is also a debt nation we all have some form of it, be it with monthly credit cards, student loans and mortgages. Its hard to think of a world where you cant just go to a bank and get a mortgage for your first house or open up even a low-limit credit card but the reality is the U.S. is a privileged place in terms of the free-flowing credit most of its citizens run on.

That could change in the next 10 days. During President Donald Trumps presidency, the national debt climbed over $8 trillion largely fueled by massive tax cuts and emergency pandemic spending. The Biden administration, thus far, has increased the countys debt by about another $3.5 trillion with the American Rescue Plan stimulus relief bill and other economic recovery efforts during the ongoing pandemic.

The government fiscal year ends Sept. 30 and a new budget will need to be agreed on in order to fund the spending that has already happened.

Using this year as an example, the government essentially took out a $3.5 trillion loan against itself in order to pay for things like stimulus payments, business relief, etc. Now, it is time to pay that loan back this is done in the form of bonds. The government agrees on a certain level, or debt ceiling, of debt to issue in the form of Treasury bonds. These bonds are then sold into the open market at monthly auctions held by the Treasury itself. This, plus taxes you pay, raises the revenue needed for things like government spending.

The government is now asking for the amount, or limit/ceiling, of these bonds to be increased so that they can pay off their debts. There is much conflict in the government as to whether or not this should happen, but the important thing to know is that should there be a vote No in raising the limit of bonds to issue, the U.S. will default for the first time in its history.

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In short, all of the loans that maintain your daily life mortgage, credit card, car loan could get more expensive. One of the reasons debt is so cheap in the U.S. is because of its creditworthiness, which could change if it defaults. U.S. Treasuries are usually bought by banks, increasing the money supply into the economy and keeping money easy and cheap. If more bonds are not issued into the marketplace, banks will have to tighten the reins and lending will get more expensive.

U.S. Treasury Chair Janet Yellen recently warned of the extent to which average Americans can be affected in a piece for the Wall Street Journal. Yellen stressed that In a matter of days, millions of Americans could be strapped for cash. We could see indefinite delays in critical payments. Nearly 50 million seniors could stop receiving Social Security checks for a time. Troops could go unpaid. Millions of families who rely on the monthly child tax credit could see delays. America, in short, would default on its obligations.

See: Didnt Get Your Child Tax Credit? Heres How to Track It DownFind: Social Security Benefits Might Get Cut Early What Does It Mean for You?

She added that it could also trigger a financial crisis with a spike in interest rates, a steep drop in stock prices and that our current economic recovery would reverse into recession with billions of dollars of growth and millions of jobs lost.

The government has until Sept. 30 to reach a decision.

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This article originally appeared on GOBankingRates.com: The US Has 10 Days Before It Defaults On Its Debt What That Could Mean For You

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The US Has 10 Days Before It Defaults On Its Debt What That Could Mean For You - Yahoo Finance

Investing app Robinhood (HOOD) said Wednesday it will provide a crypto wallet for customers, letting them send and receive crypto assets off its platform. Officially live in early 2022, the service gives an entirely new set of retail investors keys to the crypto sector. With this added access comes risks for customers and the chance the company is changing how users interact with its platform.

The announcement comes after reports that Robinhood is publicly beta testing a wallet service, something customers have requested over the past year.

Robinhood Markets. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)

Almost all cryptocurrency exchanges allow customers to transact on and off their platform. Robinhood still hasnt given that functionality to customers. Unlike ACH bank transfers for fiat currencies, crypto transactions place greater responsibility on users because blockchain-based transactions are permanent. Most exchange-based wallet services offer a copy/paste feature that reduces mistakes in sending on-chain transactions. However, misplacing just one digit in a wallet address during a crypto transaction sends a users money to the wrong address permanently.

A lot of our crypto customers are new to crypto and havent actually transacted on-chain, Christine Brown, Robinhood Cryptos Chief Operating Officer told Yahoo Finance. We spent a lot of time working on our safety features and wanted to make sure that our experience is up to par with what our customers would expect.

Baiju Bhatt and Vlad Tenev celebrate after ringing the bell on Robinhood Markets IPO Listing Day on July 29, 2021 in New York City. (Photo by Cindy Ord/Getty Images for Robinhood)

A crypto wallet allows users to send and receive cryptocurrency to and from other wallet addresses. Previously, Robinhood held all its customers' cryptocurrency and users could not take their holdings off the platform.

The wallet service comes as Robinhood rolls out more crypto trading features, such as the ability to place recurring buy orders to dollar cost average into a coin, a strategy that helps investors reduce volatility. Brown said Robinhood is looking to add more crypto assets for later this year and into 2022.

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Shares of Robinhood have declined steadily since spiking at the beginning of August. The stock is now at $42, about 21% higher than its July IPO close.

Similar to how it treats stock trading on its platform, Robinhood doesnt charge fees for buying and selling crypto. Paired with a digital wallet, the company is looking to use 0% transaction fees as a competitive advantage in the crypto space.

If Im looking to buy an NFT, Robinhood might be the most competitive place to get a price on Ethereum (ETH) then send it off the platform, said Brown. "We have a healthy ambition to bring a whole lot of crypto benefits to our users. This is just the start."

In the last year, hiring on the companys crypto side quadrupled to about 80 employees. One reason is because crypto is becoming a major source of revenue for the company. Details from Robinhoods latest earnings release showed 60% of customers bought or sold crypto in the previous quarter and for the first time ever, more new customers placed their first trade in crypto rather than equities. The report also showed that Robinhood's revenue from cryptocurrencies increased to $233 million in the second quarter, up from $5 million in Q2 2020. Robinhood reported 21.3 million people actively use the platform for trading.

Getting more heavily involved in the crypto sector allows Robinhood to access potentially billions of dollars flowing through the more than $2 trillion asset class, but it also exposes the company and its customer base to greater risks, said Collin Plume, CEO and founder of the crypto IRA investment platform, MyDigitalMoney.

If the tax reporting of crypto coming in and out is not tracked appropriately, it does expose them to a potential liability. It also exposes them to potential ransomware attacks for clients and themselves, said Plume. "Overall, it is worth the risk for this company and they have always been willing to take risks to grow."

Plume also claimed that to say Robinhood receives no commission on its trading is misleading because "there is no way a business can run without any profit."

How Robinhood can generate profit without charging commissions is a hotly debated topic. Ultimately, a major chunk of its revenue comes from the equities brokerage model that Robinhood used to pioneer 0% commission trading. Most competitors have since adopted this model called payment for order flow (PFOF). In the PFOF model, Robinhood routes orders to various market makers like Citadel Securities or Virtu Financial each time customers buy and sell a stock and are paid by those market makers according to order volume.

While the model is now the industry standard for competitive trading platforms, investors and U.S. officials have criticized payment for order flow, suggesting it is a major ingredient in a trading experience that encourages the quantity of customer trades above all else.

Vladimir Tenev, CEO and co-founder of Robinhood, is shown on an electronic screen at Nasdaq in New York's Times Square following his company's IPO, Thursday, July 29, 2021. (AP Photo/Mark Lennihan)

In its July IPO filing, Robinhood reported just how important the brokerage model is to its business, saying its revenue tripled to $959 million from 2019 to 2020, with three-quarters of that money coming from rebates it earned sending orders to market makers through payment of order flow.

David Keller, Chief Strategist at the financial charting company, StockCharts suggested a simpler reason for why the crypto is also so great for the platform's business.

Market corrections tend to be a tailwind for brokers as customers are motivated to trade as volatility increases, said Keller.

Robinhood maintains that the PFOF model gives customers best execution of orders at market price, saving them the commission fee. Since the Reddit-driven meme stock frenzy at the beginning of the year when Robinhood was forced to halt trading due to heightened liquidity requirements in stocks like GameStop and AMC, details about the business model came to light, causing some customers to leave the platform. Robinhood now discloses how it makes money on its website.

Because of payment for order flow, the customers are their real product, said 20-year-old Maverick Lewis. A college student who previously used Robinhood to trade cryptocurrencies and stocks, Lewis cashed out all his crypto holdings on Robinhood several months ago to open an account with Coinbase and buy it all back again.

A crypto wallet feature on Robinhood would have saved Lewis fees, time and a potential tax headache but Lewis said hes not going back to the platform because the business model doesnt value customers.

While the market structure between equities and crypto is not the same, some crypto exchanges also use PFOF in combination with charging commission fees.

David Hollerith is a senior reporter covering the cryptocurrency and stock markets.

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In this article we will take a look at the some of notable stocks on the move today. You can skip our detailed analysis of these stocks and go to read Why These 5 Stocks Are On the Move on Wednesday.

It's a bullish day on Wall Street as all three major indexes are in the green. Both the S&P 500 and the Dow are up around 1% while the NASDAQ has rallied around 0.7%. Although the Evergrande situation in China remains unresolved, there is less fear and investors are now more focused on the Fed meeting.

Among the stocks that's on the move include FedEx Corporation (NYSE:FDX), Incyte Corporation (NASDAQ:INCY), MGM Resorts International (NYSE:MGM), Devon Energy Corporation (NYSE:DVN), Freeport-McMoRan Inc. (NYSE:FCX), Facebook, Inc. (NASDAQ:FB), and Bank of America Corporation (NYSE:BAC). Let's examine why each stock is moving and how elite funds are positioned among them.

Photo by Austin Distel on Unsplash

Why do we care about hedge fund fund activity? Insider Monkeys research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletters stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). Thats why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

10. MGM Resorts International (NYSE:MGM) has rallied almost 6% due to sentiment around Chinese stocks improving. Other gambling stocks such as Las Vegas Sands have also rallied today and many Chinese stocks are also higher. Macau is a big market for MGM Resorts International (NYSE:MGM) and any potential improvement in China's economic situation in the future could benefit Macau and Macau gaming stocks. Keith Meister's Corvex Capital was long more than 15.6 million shares of MGM Resorts International (NYSE:MGM) for the June 30, 2021 filing period.

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9. Devon Energy Corporation (NYSE:DVN) is up around 7.3% due to the broader market rally and WTI prices rallying around 1.6%. Given that it produces oil, Devon Energy Corporation (NYSE:DVN)'s profits are affected by oil prices. If oil prices rally, Devon Energy Corporation (NYSE:DVN) could potentially benefit.

50 elite funds we track were long Devon Energy Corporation (NYSE:DVN) at the end of the second quarter, down 2 from the prior quarter.

8. Freeport-McMoRan Inc. (NYSE:FCX) is up around 4.4% likely due to sentiment around the future of China's property market improving at least today. Many other stocks related to China's property market have rallied on Wednesday as well and there is less fear over the systematic risks surrounding China Evergrande Group.

Because China imports a lot of copper and Freeport-McMoRan Inc. (NYSE:FCX)'s business depends a lot on copper prices, Freeport-McMoRan Inc. (NYSE:FCX) stock is affected by what's occurring in China.

The number of elite funds we track that were long Freeport-McMoRan Inc. (NYSE:FCX) rose to 76 in Q2, 2021 from 68 in Q1, 2021.

7. Facebook, Inc. (NASDAQ:FB) has fallen around 3.7% after the company provided an update on how Apple's privacy policy changes could affect its ad business. In a blog post, Facebook, Inc. (NASDAQ:FB) wrote, "As we noted during our earnings call in July, we expected increased headwinds from platform changes, notably the recent iOS updates, to have a greater impact in the third quarter compared to the second quarter." Given the uncertainty, some investors apparently sold Facebook, Inc. (NASDAQ:FB) although the stock continues to have long term tailwinds.

Of the around 873 top funds we track, 266 were long Facebook, Inc. (NASDAQ:FB) in the second quarter, making it the second most widely held smart money stock in our database.

6. Bank of America Corporation (NYSE:BAC) is up around 2.8% due to the broader market rally and potentially due to the Fed meeting which is expected to focus on the timetable of the taper. With a leading commercial bank, Bank of America Corporation (NYSE:BAC) benefits from higher rates, if and when that should occur. Bank of America Corporation (NYSE:BAC) has done well in 2021 with a year to date rally of more than 33%.

Warren Buffett's Berkshire Hathaway was a major holder of Bank of America Corporation (NYSE:BAC) with a holding of 1,010,100,606 at the end of June 30.

Like MGM Resorts International (NYSE:MGM), Devon Energy Corporation (NYSE:DVN), Freeport-McMoRan Inc. (NYSE:FCX), Facebook, Inc. (NASDAQ:FB), and Bank of America Corporation (NYSE:BAC), FedEx Corporation (NYSE:FDX) and Incyte Corporation (NASDAQ:INCY) are also on the move.

Click to continue reading and see Why These 5 Stocks Are on the Move on Wednesday.

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Disclosure: None. Why These 10 Stocks Are on the Move on Wednesday is originally published on Insider Monkey.

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Why These 10 Stocks Are on the Move on Wednesday - Yahoo Finance

(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.)

* Energy, bank stocks lead market declines

* All eyes on Fed's policy meeting later this week

* Major airlines mixed as U.S. relaxes travel rules

* Indexes down: Dow 2.23%, S&P 2.24%, Nasdaq 2.63% (Adds comment, details; updates prices)

By Devik Jain

Sept 20 (Reuters) - U.S. stocks sharply dropped on Monday as risk-off sentiment gripped investors on concerns over the pace of global growth and a possible spillover from China Evergrande's troubles, ahead of the Federal Reserve's policy meeting later this week.

The Nasdaq tumbled as much as 2.9% in afternoon trading, led by declines in growth names including Microsoft Corp, Google-owner Alphabet Inc, Amazon.com Inc, Apple Inc, Facebook Inc and Tesla Inc.

"The potential default of the Chinese property developer could have far reaching and unexpected consequences. There's the X-factor, the potential that ripples from one collapse could erode other sectors," said Danni Hewson, financial analyst at AJ Bell.

"If the Chinese economy is dented, what happens to demand for those nice-to-haves like a shiny new Tesla. Shares in the car company have tumbled and the Nasdaq with them, in fact the tech heavy index makes for pretty grim viewing today."

All the 11 major S&P sectors declined. Economy-sensitive industrials, financials and energy dropped between 1.9% and 4%.

The banking sub-index shed 3.9%, tracking U.S. Treasury yields as worries about the default of Evergrande appeared to affect the broader market, with commodities slipping and investors flocking to the perceived safety of bonds..

Wall Street's main indexes have been hurt this month by fears of potentially higher corporate tax rates denting earnings and have shrugged off signs inflation might have peaked.

The S&P 500 is down 4.6% from its intra-day record high hit on Sept. 2 and is on track to snap a seven-month winning streak.

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"This is just an environment where there's been a lot of money that has been rewarded for excessive risk taking. And now we're seeing a little bit of that risk come off... this is classic profit taking," said Dennis Dick, a trader at Bright Trading LLC.

"I still think a big reason for (today's selloff) is the White House and the Biden administration talking about raising the capital gains rate."

All eyes on Wednesday will be on the Fed's policy meeting, where the central bank is expected to lay the groundwork for a tapering, although the consensus is for an actual announcement to be delayed until the November or December meetings.

At 13:30 p.m. ET, the Dow Jones Industrial Average was down 772.43 points, or 2.23%, at 33,812.45, the S&P 500 was down 99.47 points, or 2.24%, at 4,333.52.

The Nasdaq Composite was down 396.26 points, or 2.63%, at 14,647.71, set for its worst day since May 12.

Strategists at Morgan Stanley said they expected a 10% correction in the S&P 500 as the Fed starts to unwind its monetary support, adding that signs of stalling economic growth could deepen it to 20%.

The CBOE volatility index, known as Wall Street's fear gauge, hit its highest level in over four months.

Airline carriers traded mixed after the United States relaxed travel restrictions on air passengers from China, India, Britain and many other European countries who have received COVID-19 vaccines in early November.

Declining issues outnumbered advancers for a 8.44-to-1 ratio on the NYSE and for a 5.54-to-1 ratio on the Nasdaq.

The S&P index recorded no new 52-week high and three new lows, while the Nasdaq recorded 19 new highs and 165 new lows. (Reporting by Devik Jain and Sagarika Jaisinghani in Bengaluru; Editing by Arun Koyyur, Maju Samuel and Sriraj Kalluvila)

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US STOCKS-Wall St tumbles over 2% on growth worries; focus turns to Fed - Yahoo Finance

Emerging green technologies could benefit a number of sectors and be instrumental in achieving global net-zero emissions, a goal that top U.S. climate envoy John Kerry said would be the greatest market transformation since the Industrial Revolution.

These green tech innovations which include carbon capture & storage (CCS), nextgen batteries, green mining, and ocean tech were part of the 14 "moonshot" technologies laid out in a recent Bank of America note.

Other technologies consisted of 6G, brain computer interface, emotional artificial intelligence (AI), synthetic biology, immortality, bionic humans, eVTOL, wireless electricity, holograms, and the metaverse. In all, these technologies represent a market size of over $6 trillion by 2030, according to BofA.

14 moonshot technologies for the future. (Source: BofA Global Research)

The researchers emphasized the accelerating pace of innovation and underscored how a few major disruptors have driven long-term trends in the last three decades. Just 1.5% of all stocks have created all net wealth since 1990, the report noted.

To bring any one of these future tech ideas to mainstream use requires innovation, adoption, and government support. The inverse of this is that the largest risks to these technologies are delayed scientific and technological development, prohibitive costs, and government regulation that limits their applicability.

Carbon capture and storage (CCS) reached a major milestone recently when the world's largest facility for removing carbon directly from the air began operating in Iceland.

CCS will likely play a pivotal role in drawing down greenhouse gas emissions. In fact, the U.N.'s body for assessing climate change uses carbon capture in all of its modeled pathways to limit global warming to 1.5C. Nations that continue to fall short of their climate targets early on may need to rely increasingly on carbon removal in the second half of the century.

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By 2030, according to the BofA report, "annual capex for CCS could reach approximately $25 billion or equivalent of $100 billion of cumulative investments. By 2040/2050, there could be $1 trillion in cumulative investments."

The Climeworks Orca carbon removal plant opened on September 8, 2021, in Hellisheidi, Iceland (Photo: Climeworks)

For the past 40 years, post-combustion carbon capture has been the most widely used carbon removal technology. But filtering out carbon dioxide from the atmosphere after it has been emitted has proven to be far more costly and energy-intensive than preemptively reducing emissions through renewable energy sources, which has made the technology somewhat controversial.

Here's how it works: At emission sources, such as power plants or steel-making plants, gases from combustion pass by a chemical solution that selectively filters out carbon dioxide before it reaches the atmosphere. When the chemical sponge is saturated, the application of heat releases and compresses the carbon dioxide into a liquid where it can be stored, oftentimes deep underground in saline aquifers or depleted oil reservoirs. And after collecting up to 90% of carbon dioxide from power and industrial plants, alternative uses for carbon dioxide are being developed, such as fuel, fertilizer, enhanced oil recovery, and even carbonating beverages.

The upside of carbon capture and storage as a climate solution and market opportunity is that it has bipartisan policy support. Sen. Joe Manchin (D-WV), a key vote needed to pass the bipartisan infrastructure and $3.5 trillion reconciliation bills, expressed support for CCS. And proposals to expand tax credits and financing for CCS have already passed the Senate as part of the infrastructure plan.

Additionally, CCS has received significant buy-in from major oil companies like ExxonMobil (XOM) that face pressure to transform their businesses away from fossil fuels.

That said, an over-reliance on CCS risks negating emissions reductions should it give fossil fuel companies license to continue pouring planet-warming emissions into the air with coal, oil, and gas projects.

Sen. Joe Manchin speaks to an aide as he walks out of a Democratic policy luncheon in Washington, Tuesday, Sept. 14, 2021. (AP Photo/Andrew Harnik)

In the short run, battery improvements could increase "utility and applicability" for consumer electronics and mobility, BofA analysts noted, and in the long run, utility-scale batteries could meet higher power and longer duration needs to power entire energy grids.

Although promises of battery breakthroughs have fizzled in the past, "rising demand, investment and the urgent need to meet climate action goals could accelerate feedback loops between cost reduction, energy density improvement and better-value propositions," the report noted.

An Xcel Energy representative checks over chargers for EVs on display in the Xcel exhibit at the Denver auto show Friday, Sept. 17, 2021 in Colorado. (AP Photo/David Zalubowski)

The key innovations for the next generation of battery technology involve advanced lithium-ion chemistry, material switching, solid-state batteries, batteries as structures, supercapacitors, and large-scale future energy storage. Solving challenges that current batteries face in one area, like longevity, often comes with trade-offs in other areas, like weight or size.

The growing adoption of electric vehicles, in particular, has generated demand for battery improvements, especially for lithium-ion batteries. The demand for EV batteries, for instance, is set to grow 28 times 2020 levels by 2030, according to the BofA APAC EV Battery Team, and the market size for EV batteries is expected to grow from $21 billion in 2020 to $354 billion by 2030.

In addition to advancing battery performance, scientists and engineers are working to find ways to make batteries with more abundant materials or to recycle metals in order to reduce the destructive environmental impacts of mining.

Battery technologies that are being developed. (Source: BofA Global Research)

Electric vehicles and their batteries require more minerals than their combustion engine counterparts, and the demand for rare minerals will increase with growth of EV market share. For instance, between 2020 and 2040, the International Energy Agency expects demand for nickel and lithium to grow by 40 times.

Advances in green mining aim to facilitate the production of batteries and other future tech that will enable the green transition. As the BofA analysts wrote, shifting from a carbon-intensive economy means becoming a metal-intensive one.

Yet, when it comes to mining the massive amounts of raw materials needed, the environmental costs and costs to the communities near mining operations cannot be ignored. This has led to a search for alternative means of extracting metals and minerals, from deep sea mining, agromining, wastewater mining, and asteroid mining.

Overall, the green mining market size could be worth $12.9 billion by 2024, according to Bloomberg and MarketsandMarkets estimates. (The market size in 2019 was $9 billion.)

Phyllantus balgooyi phloem green sap is rich in nickel. (Photo: Antony van der Ent)

The extent to which deep sea mining is truly 'green' remains up for debate. Scientists and conservationists have opposed deep sea mining on the grounds that it simply externalizes the environmental costs to the ocean and marine life.

Many of the other mining technologies are in the very early phases of research. Small-scale pilot sites in Malaysia have begun testing the efficacy of agromining, for example, which promises to grow metals on trees. Agromining harnesses certain plants' innate ability to soak up high concentrations of minerals from the soil.

Other nascent green mining technologies like wastewater mining are developing ways to extract lithium from briny wastewater discharged from desalinization plants. Currently, the process can take up to two years and yields less than 50% of the lithium from brines.

And if robots mining faraway asteroids for minerals seems far-fetched, that hasnt stopped NASA and a burgeoning deep space industry from exploring how to mine the asteroid belt, which has an estimated mineral wealth amount of $700 quintillion, according to the BofA report. However, as with anything space-related, this comes with enormous investment to retrieve and return minerals.

Gerard Barron, Chairman and CEO of The Metals Company, holds a nodule brought up from the sea floor, San Diego, June 8, 2021 (Carolyn Cole / Los Angeles Times via Getty Images)

The world's oceans support numerous industries and jobs. And when it comes to renewable energy, oceans are the worlds largest untapped source of energy, BofA noted.

As the population grows worldwide, so too will the demand for the oceans resources. The output of the blue economy could reach $3 trillion by 2030, or the equivalent of Germanys economy in 2010, according to BofA.

However, marine systems will continue to be stressed by climate change, which could impact the development of ocean industries and create feedback loops of worsening weather effects. That's why ocean tech focuses on preserving ocean health as a key priority for new technology and products.

One problem that ocean tech hopes to solve is feeding the growing population. By 2030, the worlds consumption of fish is expected to increase by 18% compared to 2018 levels. Developments in marine aquaculture the farming of fish in the open ocean or on-shore tanks could restore marine ecosystems while providing more sustainable seafood for consumption.

French oyster farmer Anne Marquet collects oysters bags at her oyster farm off the port of La Teste on December 1, 2020 in the bay of Arcachon. (Photo by PHILIPPE LOPEZ/AFP via Getty)

Some marine aquaculture startups have not only developed ways of farming seaweed and shellfish, they are researching ways to create new markets for these products beyond health foods for climatarians. For instance, biodegradable seaweed packaging may come to replace plastic packaging.

Another ocean tech industry, precision fishing, uses advanced analytics to observe and measure the oceans to avoid overfishing. The BofA analysts stated that the use of these tools can help provide six times more food in a sustainable manner, so we can have our fish and eat them too.

Companies such as Google (GOOG) and Microsoft (MSFT) have already begun investing in ocean analytics and surveillance.

And the oceans could be a core source of renewable energy as new technologies unlock the energy potential behind tides, currents, waves, solar, salinity, thermal energy, and winds. Europe has been at the forefront of off-shore renewable installation, according to IRENA, with 70% of the world's offshore capacity located in the North Sea and Atlantic Ocean.

And ocean renewable energy projects are likely to see a boost from more ambitious climate targets, as is the case with the EU Green Deal, which aims for 60 GW of offshore wind capacity by 2030 and 300 GW by 2050.

Grace is an assistant editor for Yahoo Finance and a UX writer for Yahoo products.

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Here's the best 'moonshot' green tech, according to Bank of America - Yahoo Finance

In a recent LinkedIn ranking of the top 20 cities for remote work, Cape Coral, Fla., Charleston, S.C., Tampa Bay area, Fla., Jacksonville, Fla., and Orlando, Fla., took the top 5 spots among major metros.

Among smaller cities with a population below 100,000, Bend, Ore., Asheville, N.C., Wilmington, Del., Johnson City, Tenn., and Eugene, Ore., ranked highest. New York and San Francisco, accustomed to being job seeker hotspots, came in last.

LinkedIn analyzed more than 49 million remote job applications in the 12-month period through August 2021; during that time frame, the overall national rate for remote-job applications on LinkedIn was 21.3%.

Source: LinkedIn

Remote listings attracted 41.8% of Bend residents applications for jobs featured on LinkedIn. And on the list of larger metros, out of a total number of job applications from Cape Coral, Fla., residents, 33.1% were for remote work opportunities.

The places where residents expressed the strongest interest in remote work are also popular vacation destinations. Your cost of living goes down, but the beach is closer, said George Anders, LinkedIns senior editor at large. For a lot of people this is just a better deal. You live where you want and then you look for work somewhere else. And thanks to laptops and Skype and everything else youve got the ability to stay connected and get a job that could be a thousand miles away from where youre living.

Though warm weather isn't the only reason the Sunshine State takes four of the five top spots in LinkedIns ranking. The state is home to Disney World and a robust hospitality industry, which has been hurt by the pandemic.

With the pandemic, a lot of those jobs have kind of been constricted. Fewer tourists have come. Places arent open as much, said Anders. So people need work even if theyre already living there. They havent made a move. Theyre going where else can I get employed? What can I do?

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The annual average unemployment rate for Florida in 2020 in the hospitality industry was 18.2%, a sharp rise from 3.4% in 2019. The overall unemployment rate in Florida in August was 5%, compared to 5.2% nationally.

Florida doesnt tax personal income, no doubt another reason it has attracted workers and businesses from higher-tax states during the pandemic.

The nice thing about remote work is you can tap into things like medical billing. You can tap into blogging, social media work, software engineering, said Anders. There are a lot of fields that you can do now without being in the same zip code or even the same time zone as your boss.

New York and San Francisco, known for having sky-high house prices, rank last in terms of remote work interest because what youre looking at in the remote spectrum is not really going to meet your rent, says Anders. Remote work is solid, its good, but if youre looking for six figures, thats a lot harder to make happen.

Overall, job applications for remote work have spiked on LinkedIn: 30.2% of job applications in August were for remote work jobs, a nearly tenfold increase from January 2020.

Its a hard competition and in some cases were talking about more than 100 people going for the same job, but someone has to get hired and hopefully its you, said Anders, who shared tips for job seekers.

If you want to make your application stand out, youve got to do all the classic things, he said. Make sure youve got the right keywords in your resume, reply early, follow up, see if you can get that first interview, get a sense of the schedule with them of when its going to be.

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These 20 cities are remote work hotspots - Yahoo Finance

The August jobs report out just before Labor Day missed big. The economy added just 235,000 new payrolls, dramatically falling short of expectations of 733,000 by a third.

The unemployment rate was in line with expectations at 5.2%, down from July's 5.4%.

So why did it miss so big? Expectations underestimate the rising number of COVID cases. It sounds obvious in retrospect, but this months data encompasses the Delta variants economic impact, particularly on the leisure and hospitality sector.

After adding 415,000 jobs in July, the hospitality and leisure sector added zero net jobs in August.

The catalyst for the slowdown appears to be the recent surge in the COVID cases as high touch sectors such as leisure and hospitality (0k) and retail trade (-29k) experienced a meaningful slowdown in employment activity, Bank of America analysts wrote in a research note Friday morning.

Analysts agreed across the board that, as Indeed economic research director Nick Bunker wrote, "Todays report has the Delta variant written all over it.

The fact that leisure and hospitality sectors fared worst underscored this pandemic-factor: Employment in the most COVID-sensitive industries dropped in August while the rest of the economy merely slowed down, Bunker pointed out.

The fact that the unemployment rate stayed the same also means that the number of people looking for work went down considerably.

If it is not demand driven employers are still looking to hire it must be supply driven, wrote Brad McMillan, Chief Investment Officer for Commonwealth Financial Network. It looks to have come from workers electing not to enter the workforce.

The problem, once again, is the pandemic rather than general economic weakness, he added.

In many ways, the economy is doing relatively well, McMillan pointed out, noting that measures like average hours per week, average wages, and manufacturing jobs are healthy and increasing. Similarly, people are still spending and there is no shortage of jobs available. On top of that, the economy is clearly growing Q2 GDP showed the economy expanded 6.5%, though it did miss exepectations.

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Since there is consensus that these employment-related issues are pandemic-related, getting the virus back under control could keep this to a short-term bump in the road.

This jobs report really reflects in a lot of ways that the pandemic is the economy, the economy is the pandemic, Adam Ozimek, chief economist at Upwork, told Yahoo Finance Live.

Still, we are far from being back to normal, economically speaking.

A fair amount of progress has been made, but the economy will not get a sure footing until the pandemic is successfully dealt with, wrote Bunker. We have 5.3 million fewer jobs than before the pandemic and we will not get back there anytime soon until we have more certainty about the public health situation.

Ethan Wolff-Mann is a writer at Yahoo Finance focusing on consumer issues, personal finance, retail, airlines, and more. Follow him on Twitter @ewolffmann.

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Why the August jobs report missed so big - Yahoo Finance

A board member at VF Corporation reportedly calls Black Lives Matter "the true racists" in leaked emails. Brian van der Brug / Los Angeles Times via Getty Images

A board member at VF Corporation reportedly called Black Lives Matter "the true racists."

"I don't believe in Black Lives Matter," Veronica Wu reportedly said in emails obtained by Axios.

VF Corp is home to brands like Supreme, Vans, Timberland, Dickies, and The North Face.

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A Silicon Valley investor and board member at VF Corporation reportedly said last year that Black Lives Matter are "the true racists," according to a leaked email obtained by Axios.

"I don't believe in Black Lives Matter," Veronica Wu reportedly said in the email. "If anything I think they are the true racists trying to stir up things to make this country going to socialism or even communism potentially," Axios reports.

At the time of the email, Wu was a managing partner at Hone Capital, a US venture branch of China Science and Merchants Investment Management Group. Her email comments were reportedly in response to a message from an office manager at Hone that the company planned to mark the Juneteenth holiday in 2020, Axios reported.

Wu is no longer employed with Hone Capital, according to her LinkedIn profile, which lists her current position as the founder and managing partner at First Bight Capital, a biotech venture capital firm.

VF Corporation investigated the Wu's email and found it to be "legitimate," but the company did not remove Wu from her position on the board despite the company's stance on racism and discrimination, Axios reports.

Wu and VF Corporation did not immediately respond to Insider's request for comment.

VF Corporation is home to many well-known brands such as Supreme, Dickies, Timberland, Vans, The North Face, JanSport, and more.

Following the murder of George Floyd by Derek Chauvin, a Minnesota police officer many companies began speaking out against racism, police brutality, and the push for social justice.

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VF's CEO sent a statement last year to all VF employees condemning racism at the company.

"Racism is not welcome at VF Corporation. It never has been and never will be," Steve Rendle said in a statement to all VF employees last June. "And while we as a company can't create a vaccine to eradicate racism from our planet, we can do our part to lead with purpose, inspire others with our actions, break down racial and ethnic barriers and be part of the solution."

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Leaked email from a Silicon Valley investor reportedly shows her blasting Black Lives Matter as 'the true racists' and saying racism isn't a real...

Walmart (WMT), the nations largest private employer, is raising wages for 565,000 of its nearly 1.2 million store associates, marking the retailers third wage hike for hourly associates in the last year.

Effective Sept. 25, associates in the Frontend, Food & Consumable and General Merchandise work groups will receive at least a $1 an hour raise. That means a raise for more than 565,000 store associates. It's our third wage investment in store associates over the past year, U.S. CEO John Furner wrote in a letter obtained by Yahoo Finance.

With the latest wage increase, the average hourly wage for Walmarts U.S. store associates is $16.40, according to Furner.

Back in March, 425,000 store associates in the digital and stocking workgroups saw an increase to a range of $13 to $19 per hour, depending on location and market. Last September, Walmart raised wages for 165,000 of its hourly associates in its Supercenters. At the time, the retailer said its newly-created "team lead" roles would see a pay range between $18 and $21 an hour with the ability to go up to $30 an hour. Walmart also increased its hourly wage for associates in the deli and bakery areas to $15 or higher and said its hourly auto care center workers would also see a pay increase.

Salinas, United States - April 8, 2014: Walmart store exterior. Walmart is an American multinational corporation that runs large discount stores and is the world's largest public corporation.

According to Furner, entry-level associates promote to roles of greater responsibility and higher pay within about seven months.

And the possibilities only continue from there; approximately 75% of our U.S. salaried store, club, and supply chain management teams started their Walmart careers in an hourly role, Furner added.

In Thursdays memo, Furner touted some of the recent benefit announcements during "another trying year," from enhanced well-being benefits like free counseling and paid time off to making the debt-free Live Better U college program completely free. He also noted that the stores will be closed again on Thanksgiving Day.

Last month, Walmart reported better than expected second-quarter revenue and sales results. The retailing giant saw quarterly revenue of $141 billion and comp-store sales up 5.2%, topping Wall Street forecasts.

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Julia La Roche is a Correspondent at Yahoo Finance. Follow her on Twitter.

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Walmart to give 565,000 hourly store associates at least $1 an hour raise in latest wage hike - Yahoo Finance

The "AMC apes" were quick to shred the downgrade of their favorite company on Twitter from Macquarie analyst Chad Beynon on Wednesday, a move that wiped away 7.3% from the stock price.

A day later, Beynon is standing by his call because, well, the fundamentals warrant a more bearish stance.

"It has been a pretty difficult time [to cover AMC]," Beynon said Thursday on Yahoo Finance Live. "The AMC story is really momentum and technically driven, and a lot of the leaders of this [AMC] following have highlighted this is a really good time from a technical standpoint. A lot of people are calling for a breakout. Some believe that the stock can get to $100. Some believe it could get to $100,000."

Beynon isn't on board with either of those price targets.

The analyst slashed his rating to Underperform from Neutral on AMC. Beynon didn't pull any punches on what fair value should be for AMC: $6 a share, or more than 80% from current levels.

The downgrade reflects two important considerations by Beynon, an admitted movie buff. First, box office receipts will continue to be lackluster due to the ongoing COVID-19 pandemic. And two, AMC's fundamentals stink and will remain stinky amid those sluggish box office receipts.

"Looking forward, fundamentals are nowhere near where shares are trading given the company carries deferred rent of $420 million (2Q21) in addition to its annual rent expense of $1 billion; normalized maintenance capex is ~$140 million, and annual interest is ~$420 million. Overall, we do not see the company generating positive free cash flow until 2023 and believe there are other ways to own the theatre space," Beynon wrote in the note to clients.

AMC shares fell another 1% on Thursday as investors however faithful they are to AMC CEO Adam Aron continued to digest Beynon's downgrade.

Beynon says a fresh wave of selling in AMC could soon be approaching, too.

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"We do think after Labor Day when some of these investors are back at work and maybe they are looking at other things maybe they are gambling on sports maybe the bloom comes off the rose a little bit. But yes, certainly there has been a lot of negative feedback. A lot of people just go back and say the fundamentals don't matter. We think they still do, and we think at some point the technical factors that everyone loves about AMC become more attractive on other [meme stock] names. When that happens, that's when we think a lot of the AMC investors could move into another name they find more attractive, and then the fundamentals will matter," explained Beynon.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

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Analyst defends AMC stock downgrade that has the 'apes' up in arms - Yahoo Finance