Social-media trading restrictions boost Wall Street
NEW YORK/LONDON, Jan 28 (Reuters) - The dollar retreated and Wall Street rallied on Thursday as investors looked past weak U.S. GDP and jobless claims data to hopes of a rosier economy ahead and welcomed restrictions on the social media-driven trading frenzy.
Online trading platforms Robinhood and Interactive Brokers restricted trading in shares of GameStop, BlackBerry and other companies that saw hefty gains this week after they were targeted by an army of retail buyers.
Shares of GameStop plunged about 44% from Wednesday’s close, to $196.14, after hitting $483 earlier in the session. The shares had traded under $20 at the beginning of the year.
MSCI world shares index up 1.44% GameStop shares plunge, silver prices tumble U.S. stimulus package brightens in Congress
NEW YORK/LONDON Feb 2 (Reuters) - Global stock markets surged for a second day on Tuesday, spurred by increased optimism about more U.S. stimulus and recovery, while retail investors retreated from GameStop and their fleeting interest in silver, causing their prices to tumble.
The party for the trading frenzy mob that pushed GameStop’s stock up five-fold in a week appeared over as its shares plunged 46.20% to $121.06. GameStop closed on Friday at $325 a share after hitting $483 earlier in the session.
Silver prices also fell on Tuesday, sliding -7.52% to $26.80, after exchange operator CME Group Inc raised margins on its COMEX 5000 Silver Futures contract by 17.9% to their highest since October 2020.
TOKYO (Reuters) - AstraZeneca Plc will file for Japanese approval of its COVID-19 vaccine as early as mid-February, the Yomiuri newspaper reported, making it
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NEW YORK (Reuters) - U.S. stocks closed higher on Thursday, bouncing from sharp losses in the prior session, thanks to a broad rally as earnings season got off to a strong start and fears lessened around hedge funds selling long positions to cover shorts.
Heavyweights, including Microsoft Corp, Amazon.com and Alphabet Inc, were among the biggest boosts to the S&P 500, a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months.
Apple reported holiday-quarter sales and profit that beat Wall Street expectations. However, shares of the iPhone maker fell 3.50% after climbing about 7% to start the year.
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NEW YORK (Reuters) - The dollar retreated and Wall Street rallied on Thursday as investors looked past weak U.S. GDP and jobless claims data to hopes of a rosier economy ahead and welcomed restrictions on this week’s social media-driven trading frenzy.
FILE PHOTO: The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. REUTERS/Toby Melville/File Photo
Tech heavyweights Microsoft Corp, Amazon.com and Alphabet Inc were among the biggest boosts to the S&P 500 a day after the three major U.S. indexes suffered their biggest daily percentage drop in three months.