Stocks end sharply higher
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Chinese equities are surging. The Shanghai Composite Index — dominated by retail investors — is up about 13% this year.
The Cboe Volatility Index (VIX) fell to its lowest level of the year on Friday, as US stocks surged following a highly-anticipated speech from Federal Reserve Chairman Jerome Powell that bolstered the case for a September interest-rate cut.
The iShares U.S. Home Construction ETF was rallying 5.1% toward an eight-month high in recent trading, with all 46 of its equity components gaining ground. The ETF has now soared 26% amid a three-month winning streak.
Builders FirstSource and other home building stocks jump as Federal Reserve Chairman Jerome Powell signals interest-rate cuts could be coming.
US stocks are “in the early days” for a bubble, although the critical point for a correction has yet to come, Oaktree Capital Management LP co-founder Howard Marks cautioned.
The Nasdaq composite has fallen around 2% over the past two days.
A 75-year-old who retired early from a career in radio told Business Insider why he turned to day trading and meme stocks to pass the time.
Trump's marijuana rescheduling remarks reignite cannabis optimism, putting Village Farms, Canopy Growth and High Tide in focus.