Monday, May 23, 2022

Global Market Square

By on February 1, 2021

The U.S. stock market began February with the largest gain in the past two months and regained some of the losses from the Reddit, RobinHood and GameStop trade losses.

Small investors who mainly used the RobinHood platform and were part of a thread on Reddit began mortal combat with hedge funds short-selling GameStop, causing large losses. 

The hedge funds and short sellers have lost more than $19 billion, and at least one hedge fund, Melvin Capital, had to seek a “bailout” and left the Point 72 and D1 Capital Partners in a weak position. 

Finally, markets in the Eurozone closed higher; in their case, carefully following the U.S. stimulus bill negotiations.

Wall Street summary for February 2, 2021:

  • The Dow Jones Industrial Average closed at 30,211.91, up 229.29 points, or 0.76%.
  • The Standard & Poor’s 500 closed at 3,773.86, up 59.61 points, or 1.69%.
  • The Nasdaq Composite Index closed at 13,403.39, up 332.70 points, or 2.55%.
  • The Birling Capital Puerto Rico Stock Index closed at 2,004.62, down 64.47 points, or 4.04%.
  • The U.S. Treasury 10-year note closed at 1.09%
  • The U.S. Treasury 2-year note closed at 0.11%

You must be logged in to post a comment Login