12:35pm: AMC, GameStop surge again
The blue-chip index was down 156 points, 0.5%, to 34,600 at midday, while the Nasdaq was up 15 points, 0.1% to 13,829. The S&P 500 dropped 12 points, 0.3%, to 4,217.
AMC Entertainment Holdings Inc (NYSE:AMC) and other meme stocks are enjoying another strong day. The movie theater chain has seen its shares jump nearly 17% to $55.92, and shares of GameStop Corp (NYSE:GME) have added about 9% to $240.47.
9:55am: Proactive North America headlines:
PharmaDrug Inc (CSE:BUZZ) (OTCPINK:LMLLF) launches Slim Winkel online retail platform in the Netherlands
Naturally Splendid Enterprises Ltd (CVE:NSP) (OTCPINK:NSPDF) (FRA:50N) wins C$75,000 order for plant-based meat replacement products from private label client
GR Silver Mining Ltd (CVE:GSRL) (OTCQB:GRLSF) reveals new high-grade intercepts from unmined areas on the historic Plomosas silver project in Mexico
Else Nutrition Inc (CVE:BABY) (OTCMTKS:BABYF) (FRA:0YL) to launch its plant-based toddler food in Mother’s Market stores in California
9.38am: Wall Street starts mixed
Wall Street has opened on a mixed note on Monday morning amid a lack of major news across global markets.
In the early minutes of trading, the Dow Jones Industrial Average was up 0.1% at 34,789 while the S&P 500 rose 0.02% to 4,230. The Nasdaq, meanwhile, was on the decline, falling 0.05% to 13,808.
Despite the uncertainty among most traders, companies favoured by Reddit’s ‘memestock’ community were seeing strong rises on Monday morning.
Cinema chain AMC Entertainment Holdings Inc (NYSE:AMC) surged 14.8% to US$55 in early deals, while GameStop Corp (NYSE:GME) jumped 4.4% to US$259.28 and BlackBerry Ltd (NYSE:BB) rose 3.3% to US$14.32.
7:40am: Wall Street to open on a mixed note
The main indices on Wall Street are set to start the week on a mixed footing as traders search for direction amid a lack of any major news in the markets.
The S&P 500 is expected to open around three points lower at 4,227 while the Nasdaq 100 is predicted to start 37 points weaker at 13,733.
The Dow Jones Industrial Average is the outlier and is tipped to add 38 points at 34,794.
As in the UK, the US market seems to be in a lull period with no major economic releases expected today and little in the way of heavyweight corporate news, unless Apple Corp’s (NASDAQ:AAPL) Worldwide Developers’ Conference counts.
Four things to watch for on Monday:
- Companies reporting earnings at the start of the week include semiconductor firm Marvell Technology Inc (NASDAQ:MRVL), business spend management specialist Coupa Software Inc (NASDAQ:COUP) and mountain resort group Vail Resorts Inc (NYSE:MTN)
- Tesla Inc (NASDAQ:TSLA) and its founder Elon Musk could draw attention today after the CEO was targeted by the Anonymous hacker collective, who have accused the billionaire of ruining lives due to his tweets about cryptocurrencies
- Similarly, Bitcoin may draw fresh attention following news that the president of El Salvador has introduced a bill to make the digital currency legal tender in the country
- On the macro front, there is little going on, however, US consumer credit data for April may interest some traders