The second derivative is everywhere in finance. It is convexity in bonds or gamma in options. When someone blows up in the financial world, it is usually.
(Bloomberg) Staring at a meme stock craze that shows few signs of abating, Wall Street is still wrestling with how to trade it.Many traders scroll through Reddit blogs that cheer on day traders to suss out the next big thing. Others obsessively track Stocktwits citations. There are even firms hiring WallStreetBets veterans to get inside the heads of the people who call themselves apes with diamond hands.The stakes are high. Meme stocks like AMC Entertainment Holdings Inc. and GameStop Corp. h
US stocks closed modestly higher at the end of a torpid week marked with few market-moving catalysts and persistent concerns over whether inflation spikes could linger and cause the US Federal Reserve to tighten its dovish policy sooner than expected.
The NASDAQ Composite gained the most among the three major indices, while the bellwether S&P 500 squeaked its way to a second straight record closing high.
The indices have been range-bound, with few catalysts to move investor sentiment. Much of the focus centered on Thursday’s consumer price data, which eased jitters over the duration of the inflation wave.
“It’s a muted day today,”