Shares rose Thursday, shaking off the previous day’s sharp decline after new economic data showed a larger than expected drop in new jobless claims

The weekly unemployment claims decreased from the increased values ​​of the previous week by 67000 fell back, falling below 900 for the first time in three weeks000 Nevertheless, the new claims compared to the prepandemic remained historically high

However, other less economic data disappointed on Thursday U.S. Gross domestic product (GDP) grew for the second time in a row in the last three months of 2020, although momentum slowed in the new year, mainly due to the slowdown in consumer spendingS. Economy contracted at a 3-year rate of 5% in 2020, the biggest decline since 1946

A day earlier, the Federal Open Market Committee issued a monetary policy statement in January, indicating that growth in the virus-hit economy was slowing.Nevertheless, the central bank reiterated its commitment to keeping interest rates low and buying of assets to keep resilient as the economy emerges from the COVID-19 pandemic

“From a Fed reluctance point of view, it was positive that they indicated that economic growth and activity are slowing,” Tony Rodriguez, Nuveen’s fixed income director, told Yahoo Finance about the Fed’s statement and Fed chairman Jerome Powell’s press conference “Acknowledging this reinforces the idea that they will be very patient, certainly with the key rate, but also from the point of view of quantitative easing, balance sheet growth and talk of tapering“This is definitely not a talk in 2021 that you were ready or expected”


Earnings season has also improved, with stocks of some heavily weighted companies that reported results after the closing bell on Wednesday Tesla (TSLA) stock fell more than 5% after the company made a profit, which fell short of estimates despite sales hitting a quarterly record of more than $ 10 billion Apple stock (AAPL) fell after CEO Tim Cook said during the company’s earnings statement he expected a slowdown in sales growth in the wearables space and Services in the second quarter and overshadowed first quarter revenue and earnings that exceeded expectations However, Facebook (FB) stocks rose after the company beat estimates for user growth, revenue and earnings but warned of “significant uncertainty” in terms of the ad environment in 2021 amid the pandemic

Shares of some of the sharply shortened stocks that had risen in recent sessions were mixed GameStop (GME) more than doubled on Wednesday but slipped Thursday morning AMC (AMC) shares were down 32%, after up an extraordinary 300% on Wednesday’s regular trading day, BlackBerry (BB), Express (EXPR), and Bed Bath & Beyond (BBBY) – also favorites from Reddit’s R / Wallstreetbets forum – also declined

“This will work until it stops working,” DoubleLine Capital chief investment officer Jeff Sherman told Yahoo Finance on Wednesday. “It’s this concentrated passion that goes into individual names, and I don’t think that it has an impact on the broader market”But that’s exactly what we’re talking about when we talk about blow-off tops out there, euphoria”

New home sales rose just 16% in December from November, the Commerce Department reported Thursday, with consensus economists missing expectations for a 3.5% jump, however, this was the first increase in new home sales since July from the previous month and a rebound from November when new home sales declined 126%

The surge brought new home sales to a seasonally adjusted annual rate of 842 in December000, which compares to the massive 979000 weakened in July

American Airlines (AAL) saw its shares surge more than 20% on Thursday as Reddit users speculated the run-down stocks could become yet another GameStop, with small traders shorting large Wall Street stocks against Push back investors

Earlier Thursday, the company reported mixed fourth quarter results reflecting the continued success of the COVID-19 pandemic, operating revenues of $ 4.03 billion fell 64% year over year but exceeded expectations for $ 3, according to Bloomberg data Adjusted losses were $ 86 billion, even less than the $ 411 loss per share expected. Daily cash burn was $ 30 million for the fourth quarter

For the first quarter, however, American Airlines expects a decrease in revenue of between 60% and 65%, which remains roughly unchanged compared to the previous period

The Robinhood trading platform closed the feature that allowed users to buy GameStop shares on Thursday after a massive surge this week on the Reddit forum r / wallstreetbets when searching for the “GME” ticker from GameStop GameStop also does not appear Finding other heavily truncated stocks that had become popular with online retailers like AMC, BlackBerry and Nokia this week also showed up as blank on the app

Fourth quarter gross domestic product, which tracks economic activity over the last three months of 2020, rose 40% annualized clip, which is below the 4, according to Bloomberg data is expected to increase 2% that followed a record 334 % annualized increase in the third quarter, which in turn followed a record slump in the second quarter Personal consumption rose by only 25% annualized rate or well below the 31% expected Overall, gross domestic product remained below the pre-pandemic level from the fourth quarter of 2019 onwards. p>

In the meantime, weekly unemployment claims for those on Nov. January ending week at 847000, beating estimates for 875000 However, the previous week’s new claims were down from 900000 to 914000 revised Persistent entitlements, as measured by the total number of people still in receipt of government benefits, fell below 5 million for two weeks, their lowest level since mid-March

After GameStop stock got reddit and mainstream news thanks to a Reddit investment community, broker Robinhood pulled the plug on the purchase and enraged users

The momentum that apparently contributed to brief pressure on the inventory of video game retailer GameStop Corp also appears to be having an impact on stocks of a variety of other severely shortened companies.

(Bloomberg) – Mark Cuban has an important piece of advice for day traders: Do your homework For the billionaire, there’s more to the financial markets – including the risks associated with derivatives and forex – than a bunch of budding stock pickers going on to names like GameStop Corp rushes after reading about it on a Reddit message board Though risky, losing money is sometimes part of the game, he said, “At the end of the day, it was the narrative of stocks moving, becoming and long for generations getting loud, “Cuban said in an email interview.” Now this tool is available and empowering small retailers. “Cuban, a serial entrepreneur and owner of the Dallas Mavericks basketball team, is worth $ 4 billion, according to Bloomberg Billionaires Index It owns both stocks – for example, it invests in Netflix Inc., Amazoncom Inc – and he’s cut stocks over the yearsRead More: Mark Cuban Leaves High Frequency Trading Game He Says He Wouldn’t Buy Any Of The Stocks That Are Part Of The Current Frenzy – “Just Not My Thing” – And Advises Newbies To Do Their Homework “It’s part of the learning experience,” the Cuban said of the risk. “It’s much less dangerous than currency trading which is advertised all day every day.” The rally at GameStop and other stocks has brought them to a level that view many professional investors as inconceivable and now it is attracting the attention of regulators”The US The Securities Exchange and Commission said they are “actively monitoring” volatility in options and stock markets. Senator Elizabeth Warren urged the SEC to look at the market and criticized hedge funds for using stock trading as their personal casino Cuban regulators should monitor whether the rally in certain stocks is a pump-and-dump system. “How else is this different from an investment bank calling customers with a price target and talking about a strong buy?” He wroteRead More: How Flows Before Pros Disrupt Stock Markets: QuickTake (Net worth and trading history updates in fourth paragraph) For more articles like this, please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg LP

Update: Robinhood has taken public notice of the changes and has stated that “in light of recent volatility” it will “limit” trades on certain securities to closing positions, including $ AMC, $ BB, $ BBBY, $ EXPR, $ GME, $ KOSS, $ NAKD and $ NOK “The company added that it has increased the margin requirements on certain securities”” Robinhood, the popular consumer trading application, has prevented its users from making some popular investments and wagering, according to public reports

(Bloomberg) – For once, Main Street Beats Wall Street Within weeks, two hedge fund legends – Steve Cohen and Dan Sundheim – suffered bruises as amateur traders teamed up to attract some of the world’s most discerning investors In Cohen’s case, he and Ken Griffin rushed to the aid of a third party, Gabe Plotkin, whose company was struck down, fueled by frenzied trading with GameStop Corp. On other stocks that hedge funds have wagered against, losses in recent days would rank among the worst in some of these money manager’s careers, Cohen’s Point72 Asset Management is down 10% to 15% so far this month, while Sundheim’s D1 Capital Partners, one of the top performing funds last year, down about 20% Melvin Capital, Plotkin’s firm, had lost 30% by Friday, it’s a humbling turn for the hedge fund titans who made a comeback in 2020 by themselves But this crisis has helped push thousands, if not millions, of retailers into the U.S. plunged on the savage markets caused by the Covid-19 pandemic Stock market to create a new force that the pros seem powerless to fight for the time being, your attackers are a collection of traders who use Reddit’s Wallstreetbets thread to coordinate their attacks These seem to focus on stocks known to be held by hedge funds, most notably GameStop, the beleaguered brick-and-mortar retailer, which rose more than $ 1 this month700% increased However, other destinations are AMC Entertainment Holdings Inc and bed bath & Beyond IncThe pain is likely spreading to the entire hedge fund industry, with rumors buzzing among traders of heavy losses at several companies The Goldman Sachs Hedge Industry VIP ETF, which tracks hedge funds’ most popular stocks, fell 43% on Wednesday For the worst day since September, fund managers covered their money-losing short sales and cut bullish bets for a fourth straight session on Tuesday during that period, their total outflows from the market hit their highest level since October 2014, according to data from the prime brokerage unit D1, which was founded in 2018 and had assets of around $ 20 billion at the beginning of the year, has been affected to some extent by the attacks as private companies account for around a third of its holdings and the company is reducing its exposure Has According to people familiar with the matter, the fund is closed to new investment and has no plans to raise additional capital, said one of the respondents, asking not to be named, as such decisions are confidentialThe loss of D1 made by people who were briefed on the situation contrasts with a 60% gain for Sundheim, 43 during last year’s pandemic, Melvin took an outrageous infusion of money from his peers on Monday and received $ 2 billion from Griffin, his Partners and the hedge funds he runs at Citadel, plus $ 750 million from his former boss Cohen “The social media posts about the Melvin Capital bankruptcy are categorically wrong,” said a representative. “Melvin Capital is focused on to achieve high quality, risk-adjusted returns for our investors, and we are grateful for their support up to this year’s 42-year-old Plotkin has one of the best track records among hedge fund stock pickers.He had worked for Cohen for eight years and was one of his biggest money makers before joining Melvin, he has had an annualized return of 30% since it opened, according to an investor Another fund, the $ 35 billion Maplelane Capital, lost about 33% this month through Tuesday, in part due to a short position in GameStop, according to investor representatives at Point72, D1 and Maplelane declined to comment The struggles at some of the largest hedge funds may have contributed to Wednesday 2. The S&P 500 fell 6%, the worst drop since October One theory behind the decline is that funds are selling long bets to get the money that Needing them to cover their shorts, 64-year-old Cohen is perhaps the most famous victim of this year’s Turbu lenzen, the new owner of the New York Mets, whose fund grew 16% in 2020, became a national figure after beating competition from Jennifer Lopez and Alex Rodriguez to buy the ball club on late Tuesday, Cohen broke his usual habit just tweeting about the Mets, “Hey, stick jockeys are getting there,” he wrote on the social media platformFor more articles like this, please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg L.P

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Robinhood, the online trading application, prevents users from viewing multiple stocks, including GameStop Corp.to buy new GME, which has risen in value over the past few weeks despite professional investors continuing to hold large short positions in these stocks, the company said in a blog post on Thursday

High short stocks are being targeted by some investors trying to coerce people who have bet prices will go for cover Check out Dillards and AMC Entertainment

GameStop is attracting the attention of lawmakers and regulators, Apple and Facebook post record quarters, but Tesla has a bug, Powell says getting vaccines will be a “battle” and other news to start your day / p>

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If the Covid-19 vaccine rollout begins and the 737 Max is ungrounded, is AAL stock a good buy? Let’s take a look at the American earnings and stock chart

Tesla Inc (NASDAQ: TSLA) CEO Elon Musk expressed disappointment with Discord after the platform removed WallStreetBets from their platform, which happened: “Even Discord has become corpo,” the richest person in the world said in a tweet on Late Wednesday that Discord had WallStreetBets Shut down earlier that evening and said the community continues to allow hateful and discriminatory content despite repeated warnings The company said the move had no relation to WallStreetBets’ role in GameStop Corp’s reboundShare (NYSE: GME) WallStreetBets moderators described the Discord promotion as “pretty unethical” I’m not impressed with the fact that it is destroying our community instead of going in with the wrench we may have needed to troubleshoot issues, especially after we over 1000 server boosts, “said one of the group moderators See Also: How To Invest In Tesla Stock The community also went private on Reddit for a short time as they wanted to speed up moderation and avoid a similar fate on the platform as Discord,” We did so many comments and posts that we can’t possibly read them all, let alone act as moderators, “added u / zjz, a community moderator. Why It Matters: Musk had touted support for the WallStreetBets community on Tuesday night and the share further increased Gamestonk !! https: // tco / RZtkDzAewJ – Elon Musk (@elonmusk) 26 January 2021 GameStop, BlackBerry Ltd (NYSE: BB), Nokia Oyj (NYSE: NOK), AMC Entertainment Holdings Inc (NYSE: AMC) and other stock price action: GameStop traded 16% lower at $ 292, down from 134% 84% rise during regular session BlackBerry fueled 98% at $ 226 after a 326% spike during regular hours Nokia traded 95% lower at 5 $ 93 after a 385% increase during the regular session AMC shares fueled 266% after a 30121% increase during the regular session Photo courtesy of Forbes via Wikimedia More information from BenzingaClick here to see how BenzingaDeFi cryptocurrency options are com Benzinga does not offer investment advice. All rights reserved

(Bloomberg) – Reddit investors have spotted silver, with everything from silver miners to silver ETFs to the actual price of the physical metal skyrocketing even on Thursday, with spot silver rising as much as 68%, the biggest jump since August The IShares Silver Trust, the largest exchange-traded instrument backed by the metal, rose as much as 72%, the biggest intraday gain since August. “The GameStop / AMC / Reddit mania carries over to silver and gold is getting a boost Today’s economic data Tomorrow has become a moot point, “said Bob Haberkorn, Senior Market Strategist at RJO Futures, over the phone.” This is not based on global events, it’s just people on a message board pointing all their arms at the precious metals markets of First Majestic Silver Corp.cited as a short squeeze target rose as much as 39% in New York on Thursday before trading ceased, amid a frenzy of retail fueled by internet chat rooms, options markets soared, and Brokers saw wide bid / ask spreads on ETF and Comex contracts. According to Haberkorn, investors want to buy silver options for distant months. “They are seeing some incredible price increases on options that would normally be worthless at this point,” he said for more articles like this one please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg LP

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With the global EV business dominated by Tesla Inc and growing at an explosive pace, a multitude of EV manufacturers are rushing to tap into the ardent initial public offering (IPO) from other prominent industry players such as Fisker Inc and Nikola Corp also went public last year through mergers with Special Purpose Acquisition Companies (SPACs), and Property Solutions announced Thursday that the deal, supported by a private investment of $ 775 million, is expected to generate gross proceeds Faraday Future will raise $ 1 billion

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Investing app Robinhood blocked access to (GME) and other high-flying names on Thursday as trading soared among retail users, the move comes after GameStop (GME) stock rose last week and triggered a brief squeeze The action – driven by retailers who use options frequently – has expanded to other names like (BB) (BB), (AMC) (AMC), and (BBBY) (BBBY)

(Bloomberg) – American Airlines Group Inc rose the strongest in seven months, extending a day earlier as the airline got embroiled in a rally among sharply shortened stocks targeted on Reddit’s Wall Street Bets forum, the stock rose as much as 32% and led the S&P 500 Index, although Americans ventured a cautious outlook on Thursday of when a rebound would pick up after an unprecedented drop in air travel due to the coronavirus pandemic, earnings are not “fundamentally driven as Americans’ outlook resembles ours.” in this profit cycle, “said Helane Becker, Analyst at Cowen & Co, said in a note to clients, “The near-term outlook remains challenging and when it will improve is still uncertain. The rise underscored the disconnect between retailer attacks on short stocks and the reality of an industry where demand has become crater-like due to the pandemic US. Peers, Americans are still teetering on losses, and the company’s unexpectedly small deficit in the fourth quarter didn’t suggest a burst of market excitement was warranted by Americans is the most severely belittled stock among the big U.S. Airlines “AAL the next GME?” Reddit user u / cardiffgiantthe1st said in an online discussion on Wednesday, referring to the American and GameStop Corp stock tickers, the video game retailer at the center of the heavy trade and spurred on by online discussions, American jumped 15% to $ 2084 at 10:06 am in New York after rising up to 32% for its biggest intraday profit since Jan. The Fort Worth, Texas-based company had a market value of $ 10 billion at the close of trading on Wednesday, the lowest of the four largest U.S. Airlines “Looking ahead to the coming year, 2021 will be a year of recovery,” said Doug Parker, chief executive officer, in an income statement. “Although we don’t know exactly when passenger demand will return as vaccine distribution spikes and travel restrictions are lifted, we’re ready ”(Updates the approvals in the second paragraph) For more articles like this, please visit us on BloombergcomSubscribe now to stay ahead of the game with the most trusted business news source © 2021 Bloomberg LP

Tesla just released its latest earnings report Results show that Elon Musk’s bets on energy storage and solar are starting to pay off. The storage business was the star of the company’s power games in the fourth quarter Quarterly year-over-year growth approached 200% For the first time, our total battery uses exceeded 3 GWh in a single year, an 83% year-over-year increase

Shares in Nokia Corp. In a very volatile and active trade on Wednesday, the value rose, which was enough for the Finland-based network company to comment on the activity

Brief shortages will remain a big story in the financial news until sharply truncated stocks spiked by individual social media connected investors fall back to earth. The biggest “winners” during that craze were GameStop, a Increase from 1745% for 2021 through January 27 and AMC Entertainment, which popped the more modest 839%

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World News – FI – Stock Market News Live Updates: Stocks rise after jobless claims improve more than expected

Source: https://finance.yahoo.com/news/stock-market-news-live-updates-january-28-2021-231448121.html