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S&P 500 Hits Record as Optimism About Economy Rises
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This briefing has ended. Follow our latest coverage of By: Ella Koeze·Data delayed at least 15 minutes·Source: FactSet
Wall Street’s rally stretched into a third day on Thursday, with the S&P 500 reaching a record high, as investors stopped worrying about inflation and rising interest rates and focused instead on what looks to be an increasingly peppy economic recovery.
The S&P 500 rose 1 percent, climbing above its Feb. 12 closing high, while the technology-heavy Nasdaq composite jumped more than 2.5 percent, amid encouraging updates on the rollout of vaccines and reopening of the economy.
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Chris Blasi is the president of Neptune Global, a precious-metals dealer and trading platform.
Blasi breaks down why, unlike GameStop, Reddit traders short squeeze on silver fizzled out.
He also shared the two catalysts driving a bull market for silver and the best way to invest in it.
Despite the ongoing price gyrations of GameStop, the Reddit-fueled trading mania around the video-game retailer has calmed this week.
Another interlude to the GameStop saga that has fizzled out faster is the attempted short squeeze on silver. While it is uncertain whether Reddit traders indeed diverted their attention to the precious metal, the short-term price impact of suddenly increased retail activity on silver is clear to see.
Updated Dec. 15, 2020 1:05 pm ET
BERLINâ Volkswagen AG shares rose nearly 8% on Tuesday after the car makerâs top shareholders and union leaders publicly backed Chief Executive Herbert Diessâs strategy to refocus the company on electric vehicles.
The action by the companyâs directors late Monday, including confirming several top appointments by Mr. Diess, put an end to weeks of internal wrangling over the pace of change at the worldâs biggest auto maker by sales. The CEOâs push to accelerate the shift to electric cars and quickly fill empty executive positions had met opposition from labor leaders, who under German law hold half the seats on Volkswagenâs board of directors.
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