The Dow Soars More Than 600 Points, Bright Performance Speculations While Relieving

The Dow continues to rise today. It has soared more than 600 points after investors eased about the volatility in the market caused by GameStop shares.

As of 11.50 hours, the Dow Jones Industrial Average stood at 30,816.49 points, plus 604.58 points or 2.0%.

CBOE Volatility Index or CBOE Volatility Index (VIX), a measure of market investor anxiety. Tumbled to the lowest level in one week today. After investors began to ease concerns about the phenomenon GameStop.

The share price of GameStop, the popular video game store in the US, plunged 60 percent on the day after a 30 percent drop last night, while it had previously spiked significantly earlier.

The plunge in GameStop’s share price came as a group of retail investors on Wall Street turned their target to silver to push the price up. After adopting a similar strategy to GameStop stocks to preach the big hedge funds that are often speculated by short selling in the market.

Small investors flock to buy silver. As a result, silver contract prices rose above 30 dollars yesterday. Reaching the highest level in 8 years

Silver prices fell more than 7% today after the Chicago Mercantile Exchange (CME), the world’s largest commodity and futures exchange. Announces increase of maintenance margin to stop price manipulation of retail investors in the market.

GameStop’s share price jumped 400 percent last week and soared 1,625 percent in January, driven by retail investors in the room. WallStreetBets With more than 7.6 million members on the Reddit forum, it aims to push GameStop’s share price higher to pressure the hedge fund to buy back the stock to cut losses. After it had been selling short before, it was speculated that GameStop would soon shut down.

GameStop’s share price spike resulted in heavy hedge funds. It is expected to be as high as 19,000 million dollars or about 570,000 million baht.

If GameStop shares continue to rise It will cause hedge funds to sell other stocks in the market to raise money to offset the speculative losses of GameStop.

There are also concerns that the GameStop phenomenon signals a market bubble. Which if the bubble burst Will create a panic And severely affected retail investors

The volatility seen in the market as a rise in GameStop shares prompted the US House of Representatives Financial Services Commission to hold a hearing on Feb. 18, while President Joe Biden’s economic team, including Janet, announced a hearing. U.S. Treasury Secretary Yellen Are also keeping a close eye on the volatility in the US stock market.

Meanwhile, investors foresee strong earnings forecast for Amazon and Alphabet to be released today. As well as keep an eye on the progress of issuing US economic stimulus measures

Amazon and Alphabet stock prices rebounded. Both companies will report results in 4Q20 after the market close today.

Among the companies in the S&P 500 that posted 4Q20 results, 84% reported higher-than-expected revenue and profit figures.

The President Joe. Biden met with Republicans at the White House yesterday to discuss the imposition of U.S. economic stimulus measures. He is likely to try to push the measure through Congress approval. Despite protests over $ 1.9 trillion from members of Congress, both Republicans and Democrats.

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