Tech Stocks Inch Higher Ahead Of Key Inflation Data, GameStop Skyrockets, Tencent Fuels China Rally: What's Driving Markets Monday?

Wall Street kicked off a data-heavy week on a mixed note as traders await key inflation updates and remarks from Fed Chair Jerome Powell in the coming days.The S&P 500 remained stable, hovering around Friday’s closing levels and not far from record highs. The Nasdaq 100 rose 0.2%, poised for its third consecutive session of gains, marking the seventh positive session in the last eight.Blue-chip stocks were also trading flat at midday, striving to extend their winning streak to the ninth consecutive day. The Russell 2000, tracking small-cap stocks, managed to outperform, up 0.6%. Treasury yields moved slightly lower, with the 10-year yield easing from 4.5% to 4.47%. The iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rose 0.4%.Animal spirits resurfaced in the meme stocks, as GameStop Inc. soared over 70% following a social media update from “Roaring Kitty,” a prominent figure in the 2021 meme stock phenomenon.Exchange-traded funds linked to themes like meme stocks, cryptocurrencies and high-sentiment stocks, such as the Schwab Crypto Thematic ETF (NYSE:STCE) or the SoFi Social 50 ETF (NYSE:Full story available on Benzinga.comWeiter zum vollständigen Artikel bei Benzinga Zum vollständigen Artikel