U.S. stocks hit record as small caps jump; US. dollar gains
Rita Nazareth and Vildana Hajric, Bloomberg News
BNN Bloomberg s mid-morning market update Feb. 4, 2021 VIDEO SIGN OUT
Stocks extended their rally into a fourth day as investors parsed through a flurry of corporate results amid signs the U.S. labor market may be gradually improving. The dollar rose.
The S&P 500 climbed to a record, led by banks and tech shares, as the Russell 2000 Index jumped 2 per cent. EBay Inc. and PayPal Holdings Inc. surged on upbeat forecasts, while Netflix Inc. gained after raising the price of its service in Japan. GameStop Corp. had another day of heavy losses, with this weekâs plunge exceeding 80 per cent as retail traders flocked to other corners of the stock market such as small drug developers. A widely watched segment of the Treasury yield curve steepened to levels last seen in 2015.
U S stocks advance as day-trader frenzy eases
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U.S. Stocks Advance as Day-Trader Frenzy Eases: Markets Wrap
Bloomberg 1/28/2021 Vildana Hajric and Lu Wang
(Bloomberg) U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
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The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.
U.S. stocks advance as day-trader frenzy eases
Bloomberg News VIDEO SIGN OUT
U.S. equities mounted a comeback from their worst loss since October as moves to limit retail tradersâ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
The S&P 500 Index rose 1 per cent after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.
U.S. Stocks Advance as Day-Trader Frenzy Eases: Markets Wrap
Bloomberg 1/28/2021 Vildana Hajric and Lu Wang
(Bloomberg) U.S. equities mounted a comeback from their worst loss since October as moves to limit retail traders’ speculation in some companies opened the door for hedge funds to load up on stocks they had been ditching.
Popular Searches
The S&P 500 Index rose 1% after trading platforms restricted activity in stocks whipsawed by internet chatter, from GameStop Corp. to AMC Entertainment Holdings Inc. and American Airlines Group Inc. Hedge funds that had shorted the stocks were burned in recent days, forcing them to reduce holdings in shares they loved in order to cut risk.
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