May 29, 2022

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GameStop rises significantly on quiet Wall Street - E24

GameStop rises significantly on quiet Wall Street – E24

US stock markets started the month slightly higher, but saw a decline in the last hours.

GameStop and Apple make the biggest moves at the opening of the last trading day of the week.
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All New York indexes closed down about 1.55 percent in the first quarter, which led to their first loss quarter in two years, CNBC writes.

“I think everyone needs to acknowledge the fact that we are clearly going to move into a slower economy,” said Shannon Sacosia, chief investment officer at Boston Private Wealth. CNBC.

At the turn of the month, stocks rise, and a new quarter begins on the positive.

This is what the three major arrows look like after the seventh:

  • Dow Jones Industrial Average down 0.28%
  • The Nasdaq Technology Index fell 0.76 percent
  • The broad S&P 500 fell 0.45 percent

Wall Street is off to a fresh start after its first negative quarter in two years. Bearish technology stocks pushed stocks higher in early trading, CNBC writes.

GameStop ascended after closing time

During Thursday’s trading, GameStop stock was up 10 percent.

This came in reaction to the video game store company’s planning of a stock split, skrCNBC.

In a message on its website, the company wrote that it will increase the number of A shares from 300 million to 1 billion.

Such an increase reduces the value of the stock, which can make the stock more attractive. The core value of the company is temporarily not affected by the fact that there will be more shares.

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In the developed market, the share rose 16.6 percent. After the opening, the stock fell slightly, but continued to rise by 12 percent.

After an hour of trading, the stock slipped and rose 2.8 percent. At seven o’clock the share is 4 percent.

Best winning streak in 20 years

Apple fell about 0.8 percent on Wednesday, after 11 consecutive trading days of recovery. Consequently, the mobile giant has had its best winning streak since 2003.

The long streak of gains came despite Apple’s reliance on tough news earlier this week, when Nikkei Asia reported that the company was reducing production of the new low-cost iPhone SE due to weaker-than-expected demand.

In the developed market writes on Friday CNBC However, JP Morgan Securities removed the stock from its “analyst focus list,” saying moderation in consumer spending could limit the benefits of the iPhone SE launch and the potential for increased service revenue.

However, the company maintained an “overweight” stock rating.

At the opening of Wall Street, Apple rose 0.12 percent. Halfway through, the stock is down 1.29 percent.

Low price of energy

Energy prices fell on Thursday after the White House said it would release 1 million barrels of oil per day from its warehouses.

US Light Sweet Oil (WTI) six contracts were trading at $99 a barrel. This is a 2 percent decrease. At the same time, the price of a barrel of North Sea oil is 104, which is a decrease of 7.5 percent.

“Oil market players are struggling to determine the extent to which Russian oil exports and supplies will be affected by the sanctions and disruption caused by the war,” Rystad Energy wrote Thursday, according to TDN Direct.

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Oil prices will remain high during the third quarter of this year and will balance between 100 and 130 each time. Barrels, with possibly some high peaks, House of Analysis wrote as well.