Thursday’s rally was a reversal from recent weakness in equities fueled by market volatility from speculative trading from retail investors.
U.S. stock futures moved lower in overnight trading on Thursday, as Wall Street’s volatile week continued. Dow futures fell about 80 points. S&P 500 futures dropped 0.32% and Nasdaq 100 futures lost 0.30%. On Thursday, the Dow Jones Industrial Average rose 300 points, thanks to gains in Disney, Intel and American Express. The S&P 500 climbed nearly 1%. Thursday’s rally follows the worst sell-off in the Dow and S&P in three months on Wednesday. The Nasdaq Composite closed up 0.50% on Thursday. Thursday’s rally was a reversal from recent weakness in equities fueled by market volatility spurred by speculative trading from retail investors. Several e-brokers took steps to curb the deliberate buying of heavily shorted names, giving investors a breather from the remarkable, albeit seemingly synthetic, moves in names like GameStop.
