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Tag: trading

Stock futures are flat in overnight trading after S&P 500 closes at a record

Finance
Traders work on the floor at the New York Stock Exchange.Brendan McDermid | ReutersStock futures held steady in overnight trading Sunday after a rush of broad based late buying pushed the S&P 500 to a record high in the final minutes of the previous session.Futures on the Dow Jones Industrial Average dipped just 25 points. S&P 500 futures and Nasdaq 100 futures were both little changed.On Friday, all three major benchmarks rallied to their session highs into the close with the blue-chip Dow closing about 450 points higher. The S&P 500 eventually climbed 1.7% to hit a record closing high. The Nasdaq Composite wiped out a 0.8% loss and ended Friday 1.2% higher.Traders are bracing for heightened volatility during this holiday-shortened week with quarter-end rebalancing among pensi...

Stock trading app company Robinhood files plan to go public

Technology
Stock trading app company Robinhood says it has submitted a confidential plan to go public later this yearByThe Associated PressMarch 23, 2021, 10:17 PM• 2 min readCHARLOTTE, N.C. -- Stock trading app company Robinhood said Tuesday that it has submitted a confidential plan to go public later this year.The company based in Menlo Park, California, filed the paperwork with the Securities and Exchange Commission while at the center of a battle between online activist retail investors and institutional investors over companies such as GameStop and AMC Entertainment. Robinhood had to restrict trading of those companies earlier in the year, and has been subject to congressional investigations.Robinhood did not disclose the size of its initial public offering, or where it plans to trade its stock....

Trading tax hike won’t harm competitiveness of Hong Kong’s stock market, says financial secretary

Finance
Signage for the Hong Kong Exchanges & Clearing Ltd. (HKEx) in Hong KongJustin Chin | Bloomberg | Getty ImagesHong Kong's plan to increase the stamp duty on stock trading will not harm the competitiveness of the city's financial markets, Financial Secretary Paul Chan told CNBC on Friday.Chan said in his budget speech on Wednesday that the government will raise the stamp duty paid on listed stock trades from 0.1% to 0.13%. The announcement sparked a sell-off in shares of the operator of the city's stock exchange, and the broader Hong Kong market.   "The Hong Kong market has been doing very well, very active, the volume has gone up quite a bit," Chan told CNBC's Emily Tan."So, perhaps this is the time for us to increase a little bit on the stamp duty which will not harm our comp...
Red Sox trading Andrew Benintendi to Royals in three-team swap

Red Sox trading Andrew Benintendi to Royals in three-team swap

Sports
Feb. 10 (UPI) -- The Boston Red Sox, Kansas City Royals and New York Mets have agreed to a three-way trade that will send outfielder Andrew Benintendi from Boston to Kansas City. League sources told ESPN, MLB Media and The Athletic on Wednesday night that Royals outfield prospect Khalil Lee will head to the Mets, while Royals outfielder Franchy Cordero will go to the Red Sox. The clubs have yet to confirm the deal, which is pending medicals and approvals. Advertisement Right-handed prospect Josh Winckowski and a player to be named later will be moving from the Mets to the Red Sox in the deal, ESPN reported. Benintendi missed most of the pandemic-shortened 2020 season. He landed on the injured list Aug. 12 with a strained right rib cage, with the Red Sox later ruling him out for the remain...

Why you should stay the course in the stock market, even amid the GameStop trading frenzy

Finance
Tiffany Hagler-Geard | Bloomberg | Getty ImagesGameStop, AMC Entertainment, BlackBerry, Dogecoin and silver – all have been subject to epic rallies and falls in recent days, spurred by droves of retail investors driving up prices and then selling.While it may be tempting to pile into an asset that's seen such rapid growth, financial experts say it's best to invest for the long-term."A lot of the investors are just jumping in because of FOMO [fear of missing out]," said Yanely Espinal, director of educational outreach at Next Gen Personal Finance. It's important for investors to be aware of the cognitive biases they may have to recognize when they're being influenced by social media herd mentality, Espinal added.Speculating vs. investingSeveral stocks, including GameStop, AMC and Blac...