NAB – The Morning Call · Reddit Rebels shut out, US growth slows

Reddit Rebels shut out, US growth slows

Friday 29th January 2021

US equities have bounced back after a day influenced by speculative trading on retail platforms, like Robin Hood, with investors spurred on by chatter on Reddit. The app has stopped trading on eight of the stocks today, with prices readjusting themselves. Phil Dobie asks NAB’s David de Garis whether the new administration in the US could see this as an opportunity for more regulation of the finance sector. This Main Street versus Wall Street battle was certainly more entertaining than the Fed yesterday, with the press conference adding little to what was discussed on yesterday’s podcast. In other news US Q4 GDP figures show the rate of recovery has slowed, whilst NAB consumer spending analysis for last week shows consumption is bouncing back quickly, although it obviously isn’t hitting all sectors.

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