Find the best online trading platform. Check out our top 5 list!

Click Here

Top News in Finance for June 8, 2023

by 8. Jun 2023 @ 2:04News, Top Market Insights for Today

KEY POINTS

Dive into this week’s key financial happenings with our succinct, easy-to-understand summaries of the most crucial economic events. Designed to keep you up-to-date, our roundup empowers you to navigate the week ahead and seize unfolding opportunities

  • GameStop shakes up leadership, impacting share value
  • Biden rejects bill attempting to block student loan forgiveness, impacting consumer spending
  • WhatsApp, owned by Meta, introduces ‘Channels’, a new broadcasting feature
  • Unexpected rate hike by the Bank of Canada fuels speculation about Federal Reserve’s actions
  • Prediction of rise in jobless claims and fall in wholesale inventories hints economic changes

Leadership Changes Rock GameStop

The gaming giant, GameStop, saw its stock plunge in response to a significant executive shakeup. Matthew Furlong, the CEO, was ousted and replaced by Ryan Cohen, the company’s executive chair and co-founder of Chewy, resulting in a nearly 20% pre-market dip in stock prices.

Biden Overrides Obstruction to Student Loan Forgiveness

President Biden vetoed a bill that sought to hinder his student loan forgiveness scheme, which could waive up to $20,000 of student loan debt per individual. The move, in defiance of moderate Democrats, is set to inject an estimated $5 billion per month into consumer spending.

WhatsApp Unveils ‘Channels’

Meta Platforms is introducing a novel broadcasting feature named ‘Channels’ for its WhatsApp users. This feature provides an alternate to private messaging and aims to enhance business-user interaction. CEO Mark Zuckerberg has confirmed WhatsApp’s focus on developing such business-messaging features.

Bank of Canada Surprises with Rate Hike

The Bank of Canada blindsided investors with an unexpected 25 basis points hike in interest rates, stirring questions about the Federal Reserve’s upcoming decisions. This unexpected move follows a similar decision from the Reserve Bank of Australia and has heightened speculation about inflation.

Economic Indicators Point to Change

Economic indicators predict a turbulent period ahead, with initial jobless claims expected to rise to 236,000 for the week ending June 3. Furthermore, wholesale inventories for April are projected to decrease by 0.2%, shedding light on potential shifts in the economic landscape.

Want to compare brokerages? Best place to buy stocks Forex, Commodities, Indices

Top 5 List

Find the best online trading platform in our top 5 ranking list.

Check it out

Market Status

Stocks and Crypto by TradingView

Interested in getting started with investments?
eToro is one of the most famous online trading platforms with over 25 million users, and is ranked at the top of our top 5 stock exchange list. A lot of extra functionality and innovative tools were decisive for them being ranked at the top.

#1Recommended

eToro is the winner in our trading platform test

Benefits

✔ Registered with several Financial Supervisory Authorities.

✔ Low fees.

✔ Is currently the most user-friendly platform in the market. You can open an account and make your first trade in minutes.

✔ Safe and popular exchange with over 25 million registered users.

✔ Offers trading in a wide variety of assets; Stocs, Currencies, Crypto, Commodities, ETFs and indices.

Cons

✗ Inactivity fee of USD 10 if you do not log in within 12 months.

✗ Only ticket support, no phone support.

Visit eToro

Risk warning: {etoroCFDrisk}% of non-professional CFD accounts lose money.

;

See complete ranking list here: Top 3 Online Trading Platforms

Risk Warning:

eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.

Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. {etoroCFDrisk}% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

Copy trading is a portfolio management service, provided by eToro (Europe) Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.

Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro.

Related Articles

Laget for å bli lest på 20 sekunder eller mindre