Robin Hood foundation launches fund to help groups run by people of color

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A foundation led by Army combat veteran and best-selling author Wes Moore is launching a new fund dedicated to financing nonprofit organizations that are solely run by people of color. 

The new Robin Hood initiative, titled the “Power Fund,” is looking to back these groups in the wake of the coronavirus pandemic and nationwide protests after George Floyd was killed by police last month.

Moore, the CEO of the foundation, told CNBC in an interview that Robin Hood is already dedicating $10 million in seed capital to the fund and is seeing support from at least two financial institutions, including

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Coronavirus and politics won’t wreck the new bull market: Tony Dwyer

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Market bull Tony Dwyer sees more wild swings as the year’s second half kicks off due to a spike in coronavirus cases and growing odds of a Joe Biden presidency. 

But it’s not weighing on his optimism.

“The resurgence of the virus in the southern states and the lead by Joe Biden in the polls is probably pulling forward some of that volatility that may have happened later in the year,” the Canaccord Genuity chief market strategist told CNBC’s “Trading Nation” on Tuesday.  “We want to use that to add a little bit of risk incrementally.”

Near-term, Dwyer believes

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