Yahoo Finance's Josh Schafer joins Asking for a Trend to break down the trading day's biggest stories. The markets (^DJI,^GSPC, ^IXIC) remained relatively unchanged ahead of Friday's jobs report, where analysts expect 185,000 nonfarm payroll adds for the month of May. The report will be part of the economic data examined by the Federal Reserve when weighing its next interest rate decision. Many expect rate cuts to start in September as inflation cools. On the retail front, GameStop (GME) is rallying on the return of Roaring Kitty's upcoming livestream and a Reddit post showing an increasing position in the meme stock. For more expert insight and the latest market action, click here to watch this full episode of Asking for a Trend. This post was written by Melanie Riehl
First X, then Reddit, now YouTube. GameStop's most bullish enthusiast announced a livestream, and the stock surged.
Meme stock traders will be glued to their screens on Friday, when Keith Gill, online influencer and a key figure behind the eye-popping rally in shares of GameStop in 2021, is expected to host his first YouTube livestream in three years. The "Roaring Kitty" channel on YouTube - which Gill used to post the videos that helped launch the meme stock phenomenon - on Thursday showed a livestream schedule for 12 pm ET on Friday. Shares of the video game retailer surged more than 47%, rejuvenating a rally that began last month when an account associated with Gill began posting on X, formerly known as Twitter, after a years-long absence.