Broad markets rise as GameStop fury runs out (couldn’t quite hold the line), and big earnings dropping.
- S&P 500: 39%
- Nasdaq: 72%
- Dow Jones: 60%
“Inevitably, and as with any technically-driven short squeeze, the Reddit rocket ship ran out of fuel and is now crashing back down to earth,” said Max Gokhman, head of asset allocation at Pacific Life Fund Advisors. Meanwhile, investors will be following stimulus negotiations in Washington, after congressional Republicans made a counteroffer to President Joe Biden’s $1.9 trillion stimulus plan on Sunday.
Crude Oil and Natural Gas News
Crude oil prices on a TEAR after strong fundamentals turn sentiment positive, with crude oil prices currently trading around $54.86 after reaching $55.26 at its peak. Natural gas price rally ends amid a bullish week for natural gas prices. According to Natural Gas Intelligence (NGI), “A major shift colder in long-range weather outlooks sparked a massive rebound in natural gas futures on Monday. With the double shot of polar air setting up sustained strong demand and potential production curtailments because of freeze-offs.
US Energy News
- Earnings
- Exxon appoints new director
