GameStop is back in the spotlight, rising 34% in premarket trading after Reddit influencer Roaring Kitty scheduled a YouTube Live stream. (SOPA Images via Getty Images)
GameStop (GME)
GameStop shares were surging again in premarket trading, with futures up 34% after rising 47.5% on Thursday, as meme stock influencer “Roaring Kitty” was set to return to YouTube.
Keith Gill's social media posts galvanized the rally as the “Roaring Kitty” YouTube channel aired a livestream scheduled for Friday at 12pm ET.
With Gill returning to X, GameStop's stock price has risen to as much as $64.83 per share in the past few weeks. It closed at $46.55 on Thursday, and futures contracts currently point to an opening price of nearly $62 per share.
The last time GameStop hit these highs was in November 2021, when Reddit fueled retail investor speculation.
Nvidia (NVDA)
Nvidia shares are on track for a quieter trading day after falling 1.2% on Thursday ahead of its 1-for-10 stock split.
The drop in stock prices came after the semiconductor giant reached the coveted $3 trillion market capitalization milestone. Wednesday's rally helped the chip giant overtake Apple as the second-largest company in the U.S. stock market before an early selloff. The top spot is currently held by Microsoft (MSFT).
The gains came amid a broader rally in technology stocks, as softening U.S. economic data and falling Treasury yields lifted the market on expectations that the Federal Reserve will cut interest rates as soon as July.
Nvidia is emblematic of investor enthusiasm for artificial intelligence, which accelerated with OpenAI's release of ChatGPT in late 2022.
The company's stock is up more than 140% this year and 200% last year, for a total gain of more than 3,300% over the past five years, compared with more modest gains of 14%, 29% and 126%, respectively, for the Nasdaq over the same periods.
Read more: UK house prices stagnate amid soaring mortgage costs
Mining company Fresnillo was one of the biggest fallers in the FTSE 100 index on Friday, falling about 2.3 percent after rising through Thursday.
The decline mirrors that of benchmark commodity copper (HG=F), which has fallen below $10,000 a tonne on rising global inventories and weak U.S. jobs data.
Copper prices have been trending upward since February.
British housebuilder Bellway raised its forecast for the average selling price of a home on Friday as the outlook improved due to customers' increased ability to buy a home.
The company's shares rose 0.9 percent in London following the report, despite Halifax data showing high mortgage rates are cooling house prices.
“Bellway delivered a strong performance, supported by improving affordability and seasonal upside throughout the spring,” CEO Jason Honeyman said.
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