TODAY'S TOP MARKET NEWS
Enjoy our daily selection of major news and articles that will help you understand the market sentiment.
We curate our articles section to provide you the most relevant and independent information on the markets.
‘Meme stocks’ plummet, Bezos steps down
The short squeeze unwound in a big way on Tuesday, led by GameStop, which plummeted -60%. Silver crashed 10%, wiping out most of its recent gains. EUR/USD hit a 2-month low while Wall Street had its best day since November.
03 February 2021
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Silver hits $30, USD/JPY 105
The price of silver hit an 8-year high over $30 per oz as short-squeeze attention flipped from GameStop to precious metals. GME and other most-shorted stocks dropped sharply as data showed many shorts had already covered.
02 February 2021
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Reddit silver squeeze is on!
Retail traders on the Reddit chat room WallStreetBets continue to target a short squeeze in silver. The precious metal gapped 8% higher on Sunday’s open. USD/JPY has reached a 2-month high. The Dow had its worst week since October.
01 February 2021
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Silver jumps in attempted short squeeze
The price of silver jumped nearly 5% in the beginning of what could be a larger short squeeze. Restrictions in the trading of stocks targeted by the WallStreetBets Reddit group saw calmer markets with US indices closing higher.
29 January 2021
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Short squeeze spills over to indices
US and European indices ended lower with rising uncertainty over the vaccine rollout and earnings. The Nasdaq fell nearly 3%. Apple and Facebook topped estimates while Tesla missed. The most-shorted stocks continue to see meteoric gains.
28 January 2021
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Fed meeting today
GameStop led the way higher again for the most shorted stocks as the Reddit-led short squeeze continued into afterhours trading on Tuesday following a tweet from Elon Musk. Microsoft beat earnings while the dollar dropped before the Fed meeting today.
27 January 2021
Read MoreLATEST WEEK AHEAD VIDEOS
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WEEKLY WEBINAR: JULY 27
Get your forex trading strategy right this week with our weekly webinar. Get expert technical analysis of the major #forex #cryptocurrencies #indices #commodities #stocks & #shares markets.
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WEEK AHEAD: JULY 26
The last meeting of the US Federal Reserve until after the summer should be a big driving force for forex markets. Also, the big tech companies report second-quarter earnings, which has implications for tech stocks as well as the Nasdaq index. Lots to discuss. Thanks! Rich
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WEEK AHEAD: JULY 19
The European Central Bank and People’s Bank of China both set monetary policy while US earnings season has started. I will take a look at the Euro-dollar and dollar-Chinese yuan currency pairs for how they setup before the action this week. Thanks! Rich