Reddit collective becomes the main newsmaker in the financial world

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The US stock exchanges have started higher on the new month. Last week, stock exchanges in New York had their worst week since October when market turmoil led to a wave of sales. This concern was partly triggered by Reddit investors, small investors who massively put their money into some small shares, including the share of computer games stores, GameStop and AMC cinema chain. This led to questions about the valuation of several shares.

The tech stock went up. This week, Amazon and Google-mother Alphabet will be coming up with numbers, and the markets expect a lot of them. Investors are also looking at the political developments surrounding a stimulus package and the progress in vaccinating against the pandemic.

The Dow Jones index was 0.6 percent in the plus at 30.136 points after 15 minutes. The broad Composite S & P 500 gained 0.7 percent to 3741 points and Tech Exchange Nasdaq increased 0.8 percent to 13,168 points.

The Reddit investors now seem to have focused on silver. Its price went up to over $ 30. GameStop lost almost 11 percent, but AMC was raised almost 20 percent.

Amazon increased 1.6%. The expectation is that this web store has spun yarn at the quarantine measures in many countries. Amazon also offers server space in the cloud, which is also very interesting for companies that need to work at home. Alphabet (plus 1.6 percent) has probably managed to take advantage of the growing market for online advertising. Facebook also took advantage of that, as it turned out last week when that company opened the books.

The euro was worth $ 1,2090, compared to $ 1,2143 on Friday. A barrel of American oil went up one percent at $ 52.73. Brentolie climbed 1.2 percent in price to $ 55.67 per barrel.

About the author

Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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