US Stock Market Today: Gamestop (GME) and /wallstreetbets dominate weekend headlines
Here is what you need to know on Monday, February 1:
European indices started the week in positive territory with the FTSE up 1.8%, EuroStoxx up 2% and Dax up 1.5%.Â
Overnight, Asian stocks closed in the green with the Nikkei ending 1.55% higher and the Hang Seng closing 2.15% higher.
US markets were pointing towards a higher open with Nasdaq up 1%, Dow futures up 0.7% and S&P futures showing a gain of 1%.
EuroStoxx 50
Asian markets shrugged off weak Chinese factory data to end the day strongly with most indices in the region ending Monday on a positive note. Nintendo reported strong earnings which pushed the stock up by nearly 4%.Â
European markets were also strong on Monday as news of an agreement between the EU and AstraZeneca calmed fears over further vaccine supply problems.
Shares in mining and silver related stocks helped push the FTSE higher, as silver looked to be the next target in the crosshairs of the retail trading phenomenon.Â
EU unemployment and PMI came in as expected at 8.3% and 54.8 respectively but German retail sales came in well below expectations with a 9.6% fall for December.
Ryanair announced it expects a record loss of $1.2 billion for the year to March 31 but sees a sharp recovery in the second half of 2021.Â
US stock futures were strong on Monday as investors looked to the next target of retail trading frenzy and worried over stimulus talks in Washington. Deutsche Bank's Jim Reid worried over the tech sector saying some tech stocks had “eye-watering valuations”. Â
KeyBanc downgraded Bed Bath & Beyond (BBBY) and Lowe’s, Piper Sandler raised its price target on Tesla (TSLA) and Chipotle (CMG), Citi downgraded ViacomCBS (VIAC), Discovery Bank of America downgraded Moderna (MRNA) and Morgan Stanley downgraded Virgin Galactic (SPCE).Â
Stocks covered at FXStreet:
Apple (AAPL) Stock Price Forecast: Apple Inc always worth taking a bite! Ex dividend on Feb 5
Should I buy GameStop (GME Stock) right now? Update: Fed's green light battles profit-takers
Gamestop (GME) Stock Price and Forecast: Are shares going to break $500 today?
GE Stock Forecast: General Electric Company (GE) flat as Morgan Stanley raises price target
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PLTR Stock Price: Palantir Technologies Inc (PLTR) signs enterprise partnership with Rio Tinto (RIO)
NNDM Stock Price: Nano Dimension Ltd pauses for breath after recent rally
Gamestop (GME): Should I buy or should I sell Gamestop now?
BB Stock Price: BlackBerry Ltd shrugs defies bearish analysts, competes with Gamestop for attention
AMC Stock Price: AMC Entertainment Holdings Inc revives after CEO says bankruptcy is off the table
PLTR Stock Price: Palantir Technologies Inc dips as investors assess the Demo Day
SENS Stock Price: Senseonics Holdings Inc soars as investors await pending FDA approval
NNDM Stock Price: Nano Dimension Ltd skyrockets after a well-known investment firm takes a big bite
BNGO Stock Forecast: BioNano Genomics Inc soars by 28.37% after raising funds, bullish analysis
Gamestop (GME) Stock Price and Forecast: Why is it moving? The paradigm of a changing landscape
Gamestop (GME) Stock Price and Forecast: The hottest stock of 2021, why is it moving today?
F Stock Price: Ford Motor Company trades flat despite an upgrade from a prominent name
FCEL Stock Price: FuelCell Energy Inc gains after beating revenue estimates last quarter
CCIV stock price and news: Churchill Capital Corp IV soars on Lucid Motors SPAC merger hopes
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump
AMC Entertainment Holdings (AMC) stock price trends lower despite $100 million debt offering
TRXC Stock Price: Transenterix Inc takes investors for a ride after obtaining European approvals
MRNA Stock Forecast: Moderna Inc dips on concerns of allergic reactions to its COVID-19 vaccine
AZN Stock Forecast: AstraZeneca plc gains on urgent European demand for its COVID-19 vaccine
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high!
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital
NEXT Stock Price: NextDecade Corp gains again despite a further setback in its plans for Europe
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants
Signal Advance Inc (SIGL) Stock Price and Forecast: The WhatsApp (FB) killer, except it is not!
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off
NIO Stock Price Forecast: Carmaker weathers comments calling for a correction, a sign of strength
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector
BNGO Stock Forecast: BioNano Genomics Inc eyes all-time highs after cancer-related progress
TTCF Stock Price: Tattooed Chef Inc readies for a breakout as new vegan options hit mainstream
PLTR Stock Price: Palantir Technologies Inc holding onto high ground after analyst boost
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Author
Ivan Brian
FXStreet
Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.
