Return of the Meme stock

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 3 June 2024

⏱️ 1 minutes

🔗️ Recording | iTunes | RSS

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Summary

Markets end mixed; Meme stocks soar; manufacturing weakens; Spotify raising prices.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Megan McCarty Carino.
0:04.0	Markets ended mixed, the Dow sank 3 tenth percent,
0:08.0	the S&P edged down about a tenth of a percent,
0:10.0	and the NASDAQ gained about six-tenths percent.
0:14.0	Mem stocks returned in a big way Monday with GameStop surging 20 percent after the
0:19.5	Reddit famous investor known as Roaring Kitty signaled he'd taken a large position.
0:25.2	The Wall Street Journal reports E-Trade is considering kicking him off the platform due to concerns
0:30.6	about stock manipulation. Weaker than expected manufacturing data brought some stocks lower after several signals
0:37.9	last week that the economy and consumer spending is slowing down.
0:42.1	Investors are looking ahead to more data about consumer spending is slowing down.
0:43.0	Investors are looking ahead to more data about the health of the labor market later this week.
0:48.0	And Spotify stock popped after the music streamer announced it will be raising prices again. The price of its
0:54.5	individual plan will go up by $1 and its family plan by $3. I'm Megan McCarty
1:00.1	Karino with the Marketplace's Minute.

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