Dow Jones Industrial Average (^DJI)
- Yahoo Finance Video
S&P 500 hopes for fourth week of gains, meme stocks rally
While the major indices (^DJI, ^GSPC, ^IXIC) opened relatively flat Tuesday morning, the S&P 500 is eyeing a fourth straight week of gains as Wall Street awaits fresh inflation data in April's Consumer Price Index (CPI) this week. Yahoo Finance Senior Markets Reporter Jared Blikre joins The Morning Brief to examine the market open following the latest Produce Price Index (PPI) data, factoring in the meme stock rally led by GameStop shares (GME). For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Melanie Riehl
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Meme trade roars back to life, OpenAI's GPT-4o: Market Domination
While the major stock market indexes (^DJI, ^IXIC, ^GSPC) are mixed ahead of Monday's closing bell, meme stocks are roaring back to life this session. And it all started with a post on X (formerly Twitter) made Sunday night by user "Roaring Kitty," the handle of retail trader Keith Gill that sparked the original meme trade frenzy around GameStop (GME) in early 2021. tastylive Founder and CEO Tom Sosnoff sits down with Yahoo Finance's Market Domination to share his thoughts on the "welcomed" and renewed excitement around meme stocks. Infrastructure Capital Advisors CEO Jay Hatfield joins Julie Hyman for the latest edition of Good Buy or Goodbye, shedding light on which major player in the financial space he is all in on. Also, watch for the latest coverage around Walgreens' (WBA) plans to sell off its UK chain Boots, the latest iteration of OpenAI's ChatGPT artificial intelligence model, and Kraft Heinz's (KHC) intent to sell the Oscar Mayer brand. This post was written by Luke Carberry Mogan.
- Yahoo Finance Video
Meme stock rally met with 'level of excitement': tastylive CEO
Roaring Kitty, a prominent figure in the 2021 meme stock phenomenon, returned to the social media platform X (formerly Twitter) and sparked a rally in notable meme stocks in Monday's trading session. With a single post on X, stocks such as GameStop (GME), AMC Entertainment (AMC), and BlackBerry (BB) experienced significant gains. To provide insights into this resurgence of the meme trade, tastylive Founder and CEO Tom Sosnoff joins Market Domination. Sosnoff acknowledges that after a relatively slow period in the market (^DJI, ^IXIC, ^GSPC) over the past few weeks, this meme stock rally "was really welcomed" as "another level of excitement." However, he notes that while these meme stocks are experiencing significant upsides, he does not view the current situation as comparable to the surge that occurred in 2021, which he describes as "a transformational moment." Addressing the potential investors behind the buying frenzy, Sosnoff told Yahoo Finance: "What happens when you have a move like what you're seeing today is that a lot of the high-frequency firms, after they learned their lessons in 2021, they tried to get ahead of it. So, a lot of the volume is high-frequency firms and market-making firms that know that there's going to be customers coming in on the buy side, so they're just trying to get in front of it so they have some inventory to lay out." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Angel Smith
