April 16, 2024

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Stocks climb in calmer trading, while silver prices jump | National News

2 min read

Stocks were modestly higher in early trading Monday, following the bumpy week that left the market with its worst weekly loss since October. Investors large and small continued to focus on GameStop, but other stocks targeted by online traders hoping to inflict damage on hedge funds were making big swings, like AMC Entertainment.

Meanwhile another target of online retail investors was the price of silver, which jumped 10% to an eight-year high. The precious metal has become the latest target of online investors hoping to wage battle with Wall Street players.

The Dow Jones Industrial Average was up 0.2% as of 9:55 a.m. Eastern. The S&P 500 was up 0.3% and the Nasdaq composite was up 0.5%. Technology companies were among the biggest gainers, along with raw materials companies.

Shares of GameStop were down 3%, a modest swing for the retailer which had seen double-digit moves most of the last two weeks. Trading of the retailer was still limited on trading platforms like Robinhood.

Silver rose 10% to $29.70 after traders who drove up GameStop turned their attention to metals. The price is silver’s highest since March 2013.

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