Robinhood Surges Amid Stock Market And Crypto Boom

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New state restrictions dealing with abortion access, the teaching of divisive subjects or even campus gun policies haven’t just generated controversy, they also could impact where students choose to go to college.

In a new survey from Gallup and the Lumina Foundation, 84% of those considering or currently pursuing a two- or four-year degree prefer schools with more restrictive gun policies. A similar pattern was found for state laws on abortion and reproductive health, with a majority of both Democrats and Republicans preferring fewer restrictive policies.

And though factors like cost and post-graduation job prospects mattered most to prospective students, it’s an example of how state policies could impact college recruitment.

BREAKING NEWS

A U.S.-backed U.N. Security Council draft resolution reportedly circulated Thursday supports diplomatic efforts for an immediate Gaza ceasefire in exchange for the release of all hostages held by Hamas, as Hamas issued its ceasefire proposal. The latest draft of the U.S.-backed resolution “unequivocally supports international diplomatic efforts to establish an immediate and sustained cease-fire as part of a deal that releases the hostages,” according to the Associated Press, an update from an earlier version of the draft that called for a “temporary” ceasefire linked to several conditions.

A federal judge denied one of former President Donald Trump’s attempts to dismiss the classified documents case against him, though it is still unclear when a trial for the case will be scheduled. The former president, who has denied all wrongdoing, was indicted last year after a probe conducted by Special Counsel Jack Smith found he retained more than 11,000 classified documents at his Mar-a-Lago resort.

BUSINESS + FINANCE

GE and IBM were once considered the crown jewels of the blue-chip Dow Jones Industrial before running into trouble in the 21st century. Now, more than two decades from their peak years, they’re staging comebacks: GE’s value has tripled since 2018, and IBM’s has surged 82%, both outstripping the Dow’s 67% increase.

MORE: The Dow, S&P 500 and Nasdaq slipped Thursday, after another inflation report revealed sticky price increases, throwing cold water on hopes about incoming interest rate cuts. Semiconductor chip giants Nvidia and Advanced Micro Devices were some of the biggest losers, a rare step back for the scorching-hot semiconductor sector.

Amid the stock market and cryptocurrency boom, Robinhood reported a massive uptick in retail investor activity, leading the company’s shares to surge to their highest level since 2021. Still, the outlook for future activity on the platform can be “especially volatile,” especially in crypto, Deutsche Bank analyst Brian Bedell wrote to clients Wednesday. Robinhood has not turned a profit in its three years as a public company.

A national benchmark for crude oil climbed more than 1% on Thursday to a four-month high, as uncertainty in the international energy market and low supplies in the U.S. continue to drive up the price of oil and gasoline. U.S. gas prices surpassed $3.42 on average, according to data from GasBuddy, marking the highest price at the pump since early November.

WEALTH + ENTREPRENEURSHIP

Investor frenzy over AI has boosted shares of under-the-radar South Korean semiconductor company Leeno Industrial by more than 70% since November, making the company’s founder and CEO Lee Chae-yoon the newest billionaire in South Korea. He’s the second billionaire to be minted by the AI boom in South Korea home to some of the biggest names in the chip industry. Lee is the largest shareholder of Leeno Industrial, and Forbes estimates his net worth at $1 billion as of Thursday’s stock market close.

TECH + INNOVATION

Since its founding in 2019, Westbound Equity Partners, previously known as Concrete Rose Capital, has invested in more than 40 startups along what cofounder Sean Mendy calls “the diversity opportunity”: providing more capital to underrepresented founders, particularly Black and Latino ones, and to startups that primarily serve their communities. It also looks to back blue-chip companies that want to prioritize a more equitable culture and workforce, like conversational AI firm Sierra. With a new $100 million second fund, they’re looking to make bigger bets, and now have the backing of institutional investors like Google parent Alphabet, MetLife…