Wall Street ends up sharply, led by gains in tech shares
By Caroline Valetkevitch
Reuters
(Reuters) -U.S. stocks ended sharply higher on Monday, led by gains in technology shares after last week s steep market sell-off, while mining shares rose as the retail trading frenzy shifted to silver.
Investors also watched talks over the latest U.S. COVID-19 relief package.
The iShares Silver Trust ETF, the largest silver-backed ETF, jumped as silver broke above $30 an ounce for the first time since 2013, with retail traders jumping into the metal after betting billions of dollars on stocks last week.
Miners Hecla Mining Co, Coeur Mining Inc and Wheaton Precious Metals Corp surged.
4 Min Read
(Reuters) -The S&P 500 registered its biggest daily percentage gain since Nov. 24 on Monday after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares.
Investors also watched talks over the latest U.S. COVID-19 relief package.
The iShares Silver Trust ETF - the largest silver-backed ETF - jumped 7.1%. Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains.
U.S. small-cap miners Hecla Mining Co and Coeur Mining Inc surged.
Last week, retail traders drove big gains in companies such as GameStop Corp. GameStop was down 30.8% on Monday.
Wall Street rebounds as small-time traders turn to silver
The CBOE volatility index eased on Monday from three-month highs that were fueled by a surge in shares of GameStop Corp, AMC Entertainment Holdings and others that burnt hedge funds which had bet against the companies. Reuters
Source: Reuters
Wall Street s main indexes climbed on Monday following a steep sell-off last week, as a shift in the retail trading frenzy to silver drove up mining stocks and investors monitored progress in talks over economic stimulus.
The iShares Silver Trust ETF, the largest silver-backed ETF, jumped 7.2% as silver broke above $30 an ounce for the first time since 2013 with an army of retail traders storming into the metal after betting billions of dollars on stocks last week.
Wall St. advances as small-time traders turn to silver
By Devik Jain and Medha Singh
Reuters
(Reuters) - Wall Street s main indexes climbed on Monday following a steep sell-off last week, as a shift in the retail trading frenzy to silver drove up mining stocks and investors monitored progress in talks over economic stimulus.
Nine of the 11 major S&P sectors advanced, with technology leading gains. Energy and consumer staples lagged the most.
The iShares Silver Trust ETF jumped 9.3% as silver broke above $30 an ounce for the first time since 2013 with an army of retail traders storming into the metal after betting billions of dollars on stocks last week.
4 Min Read
(Reuters) -The S&P 500 registered its biggest daily percentage gain since Nov. 24 on Monday after a steep sell-off last week, and technology-related shares led the advance, while a move by retail traders into silver drove up mining shares.
Investors also watched talks over the latest U.S. COVID-19 relief package.
The iShares Silver Trust ETF - the largest silver-backed ETF - jumped 7.1%. Silver prices climbed to an eight-year peak of just over $30 an ounce before paring gains.
U.S. small-cap miners Hecla Mining Co and Coeur Mining Inc surged.
Last week, retail traders drove big gains in companies such as GameStop Corp. GameStop was down 30.8% on Monday.