Feb. 1, 2021
Good evening everyone! Welcome to a new episode of “Stocks Today”, explaining what forces moved the stocks in the U.S. equity market today (Monday, February 1, 2021).
Green day in the stock market today, with all main indexes closing positive. The S&P 500 closed up 1.61%, the Dow Jones up 0.76% and the Nasdaq up 2.55% today.
Why did the stock market move today?
Reduced volatility and optimism for the near future followed the news of a decline in the number of daily COVID-19 cases in the U.S.. Moreover, it appears that some investors started to leave their positions in popular reddit stocks such as GameStop (down 31%), Koss (down 45%) and Bed Bath & Beyond (down 14%). Many investors are now looking at Silver as an opportunity for a new short squeeze.
Stock of the day
After a price target boost for FuboTv (NYSE: FUBO), shares in the live-sports streaming platform jumped sensibly today closing up 24%. Since the beginning of the year, the stock has more than doubled its price.
That’s all for this Monday’s stock market update. Stay tuned to receive your daily update!