The Daily Chase: Stocks rise on Yellen comments; Tesla invests in Bitcoin
North American equity markets appear poised to rise at the start of trading, extending the momentum that carried the S&P/TSX Composite Index, S&P 500 and the Nasdaq to closing records on Friday. Over the weekend, U.S. Treasury Secretary Janet Yellen touted the potential payoff from the Biden administrationâs US$1.9-trillion spending package, saying it could help the U.S. reach full employment next year. Weâll stress test that assertion and gather reaction from market professionals today.
OLDER INDEBTED CANADIANS IN RACE AGAINST TIME
The Daily Chase: Reddit trade takes breather; Sunwing taps into fed loan program Workers walk past Sunwing Airlines Inc. and Air Transat Inc. planes on the tarmac at Montreal-Pierre Elliott Trudeau International Airport (YUL) in Montreal, Quebec, Canada, on Sunday, Jan. 31, 2021. Canada s largest airlines have agreed to suspend flights to the Caribbean and Mexico for three months while international travelers will also be tested on arrival, and will be forced to quarantine at designated hotels to await results. Photographer: Christinne Muschi/Bloomberg , Bloomberg
The Reddit trades that ran roughshod across markets appear to be taking a breather. The price of silver has been down more than 5 per cent this morning and shares in names like GameStop, AMC Entertainment and BlackBerry are all sliding in pre-market trading. Some market professionals, including our very own Andrew McCreath, saw this coming (in his return to BNN Bloomber