Funding & Business
Meme-Stock Roar Fades on Wall Street as Retail Finds New Thrills
It was once a symbol of rebellion against the well-heeled Wall Street establishment. Today, it’s just another day in markets.
This week proved the point. Opendoor surged 43% in a single day. Krispy Kreme rallied 39% in a matter of hours. GoPro briefly spiked 73%. Reddit message boards lit up once again with rocket emojis and call-option bravado.
Germany has filled its gas reserves to a critical storage level two months ahead of schedule, easing fears about winter heating shortages that only recently fueled talk of potential government intervention.
As of Friday, Germany’s gas storage sites were 70% full — a threshold the government aimed to reach by Nov. 1. Earlier this year, slow injections rattled Europe’s gas market as traders saw little incentive to stockpile. But falling summer gas prices have since spurred a rapid build-up.
China’s factory activity remained stuck in contraction in August, as a government crackdown on price wars holds back production offset the boost for manufacturers of the US’ extended trade truce.
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While Chinese stocks traded in Hong Kong climbed for a fourth straight month, derivatives wagers show investors are skeptical about the market.
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