The stock rotation continues out of high-tech and into cyclicals

Higher yields remain the catalyst The longs in the technology stocks continue to get hammered and the rotation into the cyclical continues as fears of interest rates have traders repricing the high flyers of 2020. The final numbers are showing: S&P index -20.72 points or -0.54% at 3821.23 NASDAQ index -310.98 points or -2.41% at 12609.16 Dow industrial average rose […]

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GameStop CFO to step down after Reddit driven stock rally

© Reuters. FILE PHOTO: FILE PHOTO: A GameStop store is pictured in New York By Jessica DiNapoli and Subrat Patnaik NEW YORK (Reuters) – GameStop (NYSE:) Chief Financial Officer Jim Bell will step down next month, the video game retailer said on Tuesday, as it focuses on shifting into technology-driven sales in the wake of […]

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Oil prices hit nine-month high after U.S. crude stock draw

© Reuters. FILE PHOTO: Oil tanker unloads crude oil at a crude oil terminal in Zhoushan By Jessica Jaganathan SINGAPORE (Reuters) – Oil hit a nine-month high on Thursday after government data showed a fall in stockpiles last week, while progress towards a U.S. fiscal stimulus deal and strong Asian demand also buoyed prices. futures […]

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Oil Prices Hits March Highs on Vaccine Hopes, Defying Gasoline Stock Spike

© Reuters. By Barani Krishnan Investing.com — Crude stockpiles in the United States fell by almost 800,000 barrels last week, confounding analysts expectations for a build and sending benchmark U.S. oil to $ 45 highs last seen in March before the market upheavals caused by the coronavirus pandemic. for the week ended Nov. 20 slid […]

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Jobless Claims, Stock Rally Cools, ECB Warns – What’s up in Markets

© Reuters. By Geoffrey Smith  Investing.com — The global rally in stocks cools, but the one in oil and continues. France goes after more tax from U.S. tech giants, and the ECB warns that the banking situation in the euro zone isn’t as good as third-quarter reports might have you believe. Plus it’s a heavy […]

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Australian regulator launches probe into stock market outage

© Reuters. A board displaying stock prices is adorned with the Australian Securities Exchange (ASX) logo in central Sydney (Reuters) – Australia’s corporate regulator is investigating an outage at the country’s stock exchange last week that hit trading systems and nearly wiped out an entire session, bourse operator ASX Ltd said on Monday. The software […]

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Major US stock indices close near highs for the day

NASDAQ index rises 2.25% The major US stock indices surged higher as investors cheered the potential for a stimulus package. Mnuchin and Pelosi are said to be exchanging new ideas.  The stocks were also buoyed by a better-than-expected ISM services index for September which rose to 57.8 from 56.9 last month. The expectations were for a […]

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Tokyo Stock Exchange to resume trading Friday after outage debacle

© Reuters. Tokyo Stock Exchange temporarily suspended all trading due to system problems TOKYO (Reuters) – The Tokyo Stock Exchange (TSE) said normal trading would resume on Friday morning as planned, a day after the worst-ever outage brought the world’s third-largest equity market to a standstill. The glitch was the result of hardware problem at […]

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U.S. stock funds see first inflow in seven weeks, with $1.1 billion – Lipper

(Reuters) – U.S. -based equity funds attracted $ 1.1 billion in the week to Wednesday, the first inflow in seven weeks, according to Lipper. At the same time, taxable bond funds shed $ 1.1 billion, marking the first weekly outlow since the week ended April 8, while U.S. money market funds were drawn down by […]

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