The stock market showed some strength on Friday following a choppy session while closing mixed. Tech and small-caps showed the most strength while the blue-chips and the broader market struggled throughout the session. Mostly better-than-expected economic news and corporate earnings helped bullish sentiment while fears of ongoing and rising interest rates remained in focus. The Nasdaq tapped a...
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Continue reading >>The stock market suffered its biggest losses of the month on Thursday as another spike in bond yields prompted traders to dump riskier assets, especially overbought Tech stocks. Specifically, the 10-year Treasury yield surged to a peak north of 1.6%, and its highest level since last February. The Russell 2000 finished at 2,200 (-3.7%) after trading to an afternoon low of 2,196. Current and upper...
Continue reading >>With Biden heading to the White House, cannabis stocks are picking up a good deal of momentum including Aurora Cannabis (ACB). In addition, Biden’s pick for health and human services secretary, Xavier Becerra, who supports legalization. “Just as we allow alcohol to be sold, we’ve come into the 21st century and announced that it’s better to regulate MJ than criminalize it. The federal...
Continue reading >>The stock market was weak again on Friday session with the losses giving the major indexes their biggest weekly losses since October. Traders digested the ramifications of Johnson & Johnson's (JNJ) coronavirus vaccine trial results, while an ongoing between Wall Street hedge funds and retail investors over Gamestop (GME) added to the spike in volatility. The Nasdaq closed at 13,070 (-2%)...
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