Data shows institutional investors as drivers of large portion of the wild price action in GameStop last week. GameStop was not in the 10 most-bought names by retail investors last month, according to JPMorgan. "What was going on in the stocks forced the hedge funds to trade to cover, or they might have been playing, too, to win," Piper Sandler […]

Here are the most important news, trends and analysis that investors need to start their trading day: Wall Street tracks for its best week since November Jobs growth rebounded in January Democrats press ahead with Covid stimulus without Republicans J&J seeks FDA emergency use for Covid vaccine GameStop bounces some after another plunge 1. Wall Street tracks for its best […]

(Reuters) – Shares of GameStop and other companies caught in the recent social media-hyped trading frenzy rose on Friday, after online broker Robinhood lifted all the buying curbs imposed at the height of the battle between amateur investors and Wall Street hedge funds.FILE PHOTO: GameStop stock graph is seen in front of the company’s logo in this illustration taken February […]

South African Health Minister Dr Zweli Mkhize confirms the first case of Coronavirus in South Africa at Parliament in Cape Town, South Africa, March 5, 2020. Reuters/ Sumaya HishamCAPE TOWN (Reuters) – South Africa’s Health Minister Zweli Mkhize said in parliament on Friday that the country had secured enough COVID-19 vaccines for at least 26 million people. Africa’s most industrialised […]

WASHINGTON (Reuters) – President Joe Biden’s drive to enact a $1.9 trillion coronavirus aid bill gained momentum on Friday as the U.S. Senate narrowly approved a budget blueprint allowing Democrats to push the legislation through Congress in coming weeks with or without Republican support.FILE PHOTO: U.S. President Joe Biden speaks during an event at the White House in Washington, U.S., […]

(Reuters) – In his Hangzhou apartment in eastern China, Wen Hao had just finished his daily stockpicking video when he discovered he’d been barred from social media platform Toutiao, a day after inviting netizens to join his stock-recommending community.FILE PHOTO: A Chinese national flag flutters near the building of China Securities Regulatory Commission (CSRC) at the Financial Street area in […]

Take a look at some of the biggest movers in the premarket: Spotify (SPOT) – The music streaming service reported a wider-than-expected quarterly loss, although its revenue did beat analyst forecasts. The number of premium subscribers jumped by 24% to a better-than-expected 155 million. The stock fell 7% in premarket trading as of 7:32 a.m. ET. Capri Holdings (CPRI) – […]

Point72 has raised $1.5 billion after a difficult January for hedge funds, a report said. Steve Cohen’s fund supported Melvin Capital, which was hit by the GameStop saga. Point72 is looking to take advantage of new opportunities in the market. Sign up here for our daily newsletter, 10 Things Before the Opening Bell.  Steve Cohen’s hedge fund Point72 has raised $1.5 billion […]

(Reuters) – Ant Group Co has agreed a restructuring plan with Chinese regulators under which the fintech giant will be turned into a financial holding company, Bloomberg News reported, potentially a major step towards easing founder Jack Ma’s regulatory woes.FILE PHOTO: A sign of Ant Group is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November […]