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FT News Briefing

Day traders wreak havoc on hedge fund bets, Wall Street dips, BlackRock’s progress on sustainability

FT News Briefing

Forhecz Topher

News, Unknown, News & Politics, Daily News

4.41.2K Ratings

🗓️ 28 January 2021

⏱️ 10 minutes

🧾️ Download transcript

Summary

The Biden administration says it is “monitoring the situation” as shares in companies including GameStop, AMC and BlackBerry surged in trading on Wednesday. Meanwhile, Wall Street’s big indexes dropped after Federal Reserve chairman Jay Powell described a weakening in the recovery of the US economy, and China’s Covid-19 vaccine makers are having no problem meeting demand. Plus, the FT’s investment correspondent, Attracta Mooney, has been following BlackRock’s sustainability efforts and reports on how well the world’s largest asset manager is keeping its promises. 


‘Short squeeze’ spreads as day traders hunt next GameStop

https://www.ft.com/content/acc1dbfe-80a4-4b63-90dd-05f27f21ceb2


Wall Street notches its worst day since October

https://www.ft.com/content/570f7453-fb9b-4c73-845e-a33178f4942e


Lex Letter from Seoul: China’s vaccines and efficacy rates

https://www.ft.com/content/768f7e3a-0a10-47a5-9f0d-ea1927ebb4ec


BlackRock’s sustainability ‘report card’ one year from Fink’s annual letter

https://www.ft.com/content/d7e83ba0-c90b-46c0-9233-ad06187606c1


Walmart turns to robot-staffed warehouses to handle online orders

https://www.ft.com/content/1b1b11c8-200c-4f7c-a431-6460f90bb95d?



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Transcript

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0:00.0

Good morning from the Financial Times.

0:02.0

Today is Thursday, January 28th.

0:04.0

And this is your FT news briefing.

0:07.0

The White House says it's keeping an eye on amateur stock traders

0:12.0

who are causing headaches for short sellers by targeting

0:14.8

individual stocks. Shears and companies like GameStop and AMC have skyrocketed.

0:20.6

Meanwhile, the broader S&P 500 had its worst day in months.

0:25.0

And we'll take a look at how China's vaccine makers are meeting demand.

0:29.0

Plus, the world's largest asset manager has pledged to put sustainability at the heart of its investments.

0:34.9

But has Blackrock met its promises?

0:36.7

I'm Mark Filipino, and here's the news you need to start your day.

0:43.6

We had a slew of large cap earnings yesterday.

0:49.2

Apple reported its highest ever profit in the holiday quarter, more than 111 billion dollars.

0:55.0

It's thanks in part to strong sales in China.

0:57.8

Tesla topped Wall Street's expectations

1:00.1

for revenue growth, but it failed to hit earnings forecasts. And Facebook beat

1:04.6

expectations and announced record quarterly earnings thanks to its push into

1:08.6

e-commerce during the pandemic. But the big story this week isn't about these companies. It's about amateur

1:15.5

traders who have been organizing on the social media site Reddit and piling

1:19.9

into companies like Game Stop, AMC, and BlackBerry.

1:24.1

AMC, which owns movie theaters,

1:26.3

was up more than 300% on Wednesday.

...

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