6 Min Read
(Reuters) - The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning brokerages and social-media traders it was on alert for any wrongdoing in this week’s roller-coaster trade.
GameStop shares rallied again, awarding retail investors the advantage in the latest round of their week-long slugfest against major financial institutions that had shorted the video game retailer.
The so-called “Reddit rally” has inflated stock prices for GameStop and other previously downtrodden companies that individual investors championed on social media forums such as Reddit’s Wallstreetbets, which has almost 6 million members.
NEW YORK (Reuters) The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds, warning brokerages and the pack of social-media traders that it was watching for potential wrongdoing.
GameStop shares jumped, awarding retail investors the advantage in the latest round of their week-long slugfest against major financial institutions that had shorted the video game retailer.
The so-called Reddit rally has inflated stock prices for GameStop and other previously beaten-down companies that individual investors championed on social media forums including Reddit.
GameStop surged 51% on Friday after brokers including Robinhood eased some restrictions on trading. On Thursday, GameStop shares had fallen following the curbs imposed by Robinhood and other trading apps, which drew outrage from politicians and calls for action from regulators.
6 Min Read
(Reuters) - The U.S. Securities and Exchange Commission waded into the battle between small investors and Wall Street hedge funds on Friday, warning brokerages and social-media traders it was on alert for any wrongdoing in this week’s roller-coaster trade.
GameStop shares rallied again, awarding retail investors the advantage in the latest round of their week-long slugfest against major financial institutions that had shorted the video game retailer.
The so-called “Reddit rally” has inflated stock prices for GameStop and other previously downtrodden companies that individual investors championed on social media forums such as Reddit’s Wallstreetbets, which has almost 6 million members.
we re going to take you there live. it is just too dangerous to fly in many parts of the american west. we begin though with the markets, and that means sue at the nyse. hi, sue. hi, ty, and the markets are very hot here today. here s where we stand at 1:00 p.m. wall street on day one of the second half of 2013. the dow up 152 points on the trading session. the s&p is up better than 1%, up 17 points, and the nasdaq is up 1.33%, up 45.5 points. the russell 2000, the leader of the pack in terms of percentage gains, a 1.5% gain on the russell at 992.80. in terms of the gold market, after a very difficult first half, that s an understatement, we re up 34 bucs or 2.75% in comex gold. brent crude is now traded up .66% on the trading session and in terms of interest rates, the yield right now on the ten-year is just below the 2.5% mark at 2.48%. we have you covered up and down the street. bertha is manning the station at the nasdaq, sharon at the nymex but we start with my partner
monthly subscription to fly as much as you want on an airline? would it be worth it? one airline is betting it is, but but, sue, i m going to tell you something, you won t be flying on one of those, okay? i have a funny feeling that is the case. i can t wait to hear more from phil lebeau on that story. you showed us the numbers, tyler, and told us it s a volatile day on the street. it is indeed. they are worth another check right now with the dow jones industrial average off 60 points. just off the lows of the session. the nasdaq is off 20. the s&p 500 is off about 6.75. the vix in yesterday s trading session saw enormous range. today it s up another 5% on the trading session, and that s off the best levels for the vix of the day. the dollar, which had swings of almost 3% against some of the major currencies yesterday is down a third of 5% rig of a percent, hitting its lowest level since february 20th. bob pisani joins me on the floor of the new york stock exchange. yest