Why did everything jump up, opening 30th June?

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All the tech stocks, and a lot of somewhat related stocks, jumped about 1.8% on US market open. I know the US banks’ stress tests were ok, and maybe other things, but I haven’t seen any mention anywhere in the news I see, of this jump. I assume it must have been something that happened overnight, but pre-market prices didn’t show it.
As they say on Eastenders, “WOSGARNON?”

A) does anyone know what caused it?
B) what’s the best news feed to look at for news on things like this? I tried Bloomberg,
C) is there some (expensive?) information source big traders get for news before ordinary mortals get it?

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You’re probably not going to like these answers

Market sentiment changed. The market is a future guessing mechanism. If I was to guess it would be this.

Screenshot_20230630-213158
Screenshot_20230630-2131581080Ă—1059 146 KB

No they’re all just guessing.

No, used to be the case but now that would be illegal.

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I don’t think he meant a source of insider information. I assume he was asking whether there is any source of live info that will flag up information (perhaps before market open) that will have a significant impact on trading and is faster/better than just relying on general news feeds that might report info once the market has already reacted

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I agree with your take.

I think he mostly refers to an paid aggregator, such as the Bloomberg terminal.

Paid tools do provide news aggregation and classification, as soon as they appear, to help assess market sentiment.

A few free news feeds are available, but none will do the same kind of heavy lifting.

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Tks.

I don’t mind what the answer is, I’m just trying to learn how things work :money_mouth_face:

So all the pension funds and whatever institutions that hold significant chunks of the stocks, all turned some knob which said “buy more” and their Nintendos placed orders at 08:30000001 - ok.

Tracking back from the CNBC picture, I see it came from Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, First Quarter 2023 | U.S. Bureau of Economic Analysis (BEA)

They publish a schedule here:
https://www.bea.gov/news/schedule/full

I assume it would be wise to consider how happy the Bidenomics bunnies are looking on July 26th. If tails are bushy, don’t go short.
There are some unsynchronised releases the US gov brings together here:

Maybe y’all knew that - I didn’t :wink:

Chris

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Unlikely. The volume recently in the market generally has been quite pathetic, so it wouldn’t take as much as you think to move the market. Definitely not everyone diving back in.

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I didn’t suggest their knobs were set to “buy much” , but practically every stock I Looked at jumped in the same milliseconds.
I was querying the synchronysm.

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@Punting obviously widespread buying could trigger prices to jump. However, two other explanations could be (I’m not giving any view) 1) market makers simply reflecting data/news to move the price or 2) people removing sell orders. Thus, as you say large investors such as pension funds could place orders across the market but it is equally possible that removal of sell orders results in prices going up.

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