· Robinhood investors helped stabilize the market during March sell-off, co-CEO says
Robinhood co-CEO on young investors being a market stabilizing force
In recent months, young retail investors have caught a lot of flak from Wall Street professionals and the investment community.
· Stocks wobble after Mnuchin pulls plug on Fed stimulus
World financial markets stalled on Friday as news U.S. Treasury was ending emergency loans programmes dealt a blow to economic recovery hopes just as California announced curfews to try and fight surging coronavirus infections.
S&P500 futures slipped 0.5% while Dow futures fell 0.6%, cancelling out a firmer lead from a strong Wall Street session overnight.
That left MSCI’s broadest index of Asia-Pacific shares excluding Japan up 0.3%. It is up 1.5% so far this week.
· Japan shares fall as third wave of COVID-19 outbreak hurts sentiment
Japanese stocks fell for a third consecutive session on Friday as a rise in new domestic coronavirus infections to record highs fuelled concerns that officials will place new restrictions on business activity.
The Nikkei 225 index ended down 0.42% at 25,527.37. The broader Topix erased losses to end 0.06% higher at 1,727.39.
The Nikkei rose 0.6% for the week after hitting a 29-year high on Tuesday as progress in developing a coronavirus vaccine lifted equities.
The optimism, however, faded quickly as a sharp increase in coronavirus cases suggested that Japan’s economy could weaken before a vaccine becomes widely available.
· European stocks open flat as U.S. stimulus, virus worries weigh
European stocks made a muted start on Friday as spiraling coronavirus cases around the world and a U.S. Treasury decision to spike pandemic relief programs weigh on sentiment.
The pan-European Stoxx 600 hovered around the flatline at the start of trading, with oil and gas stocks adding 0.7% while banks and insurance stocks edged 0.2% lower.
Reference: Reuters, CNBC
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