Business & Investment

Stock futures soar as small traders pile up on silver By Reuters

© Reuters.File Photo: Trader Frank Maciello talks on his phone on Wall Street outside the New York Stock Exchange in New York

By Devik Jain and Medha Singh

(Reuters)-US stock index futures rose 1% on Monday following a plunge on Wall Street last week. Mining stocks rose as retail frenzy shifted to silver, and investors waited for manufacturing data later that day.

The iShares Silver Trust (NYSE :) ETF is in front of the market as retailers’ troops plunge into metal after betting billions of dollars on stocks last week, with silver surpassing $ 30 per ounce for the first time since 2013. The trade surged 9%.

Silver miners Hecla Mining Co, Coeur Mining (NYSE :) Inc, and Wheaton Precious Metals (NYSE :) Corp surged between 12% and 21%.

Wall Street’s leading index added fuss between Wall Street hedge funds and retail investors last week as investors digested volatility data from Johnson & Johnson (NYSE :) COVID-19 vaccine test results Volatility recorded the sharpest weekly decline since October because it was.

The CBOE volatility index fell about 2 points on Monday after hitting its highest since October. GameStop Corp (NYSE :) and AMC Entertainment (NYSE :) Holdings and others have burned hedge funds betting on the company and devastated the wider market.

Last week, Apple Inc (NASDAQ :) also dominated Wall Street news with meme stocks. Microsoft Corp (NASDAQ :) and other big names in the company reported quarterly results.

Focusing on quarterly revenues from Amazon.com Inc (NASDAQ :) and Google owner Alphabet (NASDAQ :) Inc on Tuesday, we summarize the results of the so-called FAANG group.

At 6:55 AM EST, the Dow E-mini rose 233 points (0.78%) and the E-mini rose 37.75 points (1.02%). E-mini increased by 135.75 points, or 1.05%.

Share Exxon mobile Corp (NYSE :) and Chevron Corp (NYSE :) rose about 2% each as sources said sources said the CEOs of the two largest US oil producers had preliminary talks to consider a merger in early 2020. The debate is no longer lively.

Video game retailer GameStop and cinema operator AMC Entertainment Holdings added about 6% and 23% on Monday, in addition to an increase of about 400% and 278% last week.

On the data side, investors were waiting to read the ISM Manufacturing Index. It is expected to fall in January after accelerating to its highest level in almost two and a half years in December.

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Stock futures soar as small traders pile up on silver By Reuters

https://www.investing.com/news/stock-market-news/stock-futures-bouce-back-as-smalltime-traders-pile-into-silver-2405025 Stock futures soar as small traders pile up on silver By Reuters

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