Wall Street: Gamestop shares rose

Wall Street: Gamestop shares rose

This is how it went with the leading indices on the New York Stock Exchange:

Wide Standard & Poor's 500The index closed down by 0.02 percent, while the industrial index was heavy Dow Jones– The index decreased by 0.2 percent. Technology index Nasdaq rose Nearly 0.3 percent.

The yield on ten-year US government bonds rose to 4.485 percent, while the so-called “fear index” VIX rose 8.76 percent to 13.65.

oil

A barrel of North Sea oil was trading today at $83.46, an increase of approximately 1 percent from Friday. One barrel of West Texas Intermediate crude was traded on Monday, up 1.18 percent, reaching $79.18.

Gamestop stock is up in the air

Most of us remember Gamestop– The short squeeze in 2021, when small savers came together on the Reddit forum r/WallStreetBets to drive up Gamestop's stock price, eliminating short positions in the stock. The result was that the stock price rose by more than 1,700 percent within one month, after the campaign became widespread.

Now the stock is making new moves after Keith Gill, the man who began short testing GameStop in 2021, published his first post in nearly three years. This sends the stock up 49 percent in the opening minutes.

the post, Image on X (Twitter) For a PC gamer who leans forward in his chair to focus and take the game more seriously, this is Gill's first post since 2021.

It's uncertain what the post means, but Gamestop shares rose more than 74 percent on Wall Street on Monday to $30.47.

See also  Kongsberg Automotive is stock market winner after 1 billion sales - wreath cake baker Arild Vigen enjoys price party

New price target for stock market rocket

After a change of analysts at Jefferies, the brokerage firm came out with a new buy recommendation NvidiaWhile the target price was raised from $780 to $1,200. The new price target suggests a 33 percent upside for IT Rocket, which is already up 81 percent so far this year.

According to MarketWatch, HSBC raised its price target for Nvidia from $1,050 to $1,350, while reiterating its buy recommendation. Analyst Frank Lee believes that the market is underestimating the potentially significant revenues that artificial intelligence can generate.

On Monday, the stock rose just under 1 percent to $903.99.

precise

As investors await US inflation numbers on Wednesday, indicators are now approaching their highest levels since March.

This comes, among other things, from a slowdown in the labor market, which gives hope for further interest rate cuts and more robust quarterly reports, according to Reuters.

Handelsbanken stresses that Wednesday's US inflation numbers for April will be important to follow. They also have the ability to influence interest rate expectations in Norway.

“We remember last time's inflation numbers, which were stronger than expected, both for overall price growth and not least core price growth. This shatters the assumption that the strong rise in prices at the start of the year was driven by only temporary disruptions. Instead, Recent momentum suggests that US price growth may be on track to rise again, or at least stabilize slightly above 3S,” Handelsbanken writes in a report.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

Leave a Reply

Your email address will not be published. Required fields are marked *