Why this signal means the S&P 500 is running out of steam, Wall Street strategist says MarketWatch 2/4/2021
NEED TO KNOW
There is a lot going on and it’s sending the Dow and S&P 500 toward a fourth straight day of gains.
Investors are digesting a deluge of corporate earnings, as well as key weekly jobless claims data, showing the lowest number of claims since November.
Another event being keenly monitored by investors pertains to the recent GameStop frenzy, which has led to wild swings for stocks, including that videogames retailer and the cinema chain AMC Entertainment through users on Reddit’s WallStreetBets forum.