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S&P 500 closes up 0.6% after another wild ride

Meme stock insanity continues

  • S&P 500 +23 points to 3899, +0.6%
  • DJIA +1.4%
  • Nasdaq -0.1%
  • Russell 2000 +1.8%

There were some big swings in sentiment throughout the day. The the low CPI number calmed nerves and then decent 10-year auction also helped.

The ‘two markets’ theme I’ve been highlighting was particularly noticeable today as broad markets and small caps cheered lower rates but the Nasdaq was in its own world after yesterday’s surge.

Shares of GameHost went on an absolutely insane ride, hitting the record closing high of $347 and then crumbling to $172 only to rebound again to $264 at the close. Expect more of the same after hours. The most highly-traded option was an $800 call expiring Friday.

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