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US STOCKS – Wall St advances

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US STOCKS-Wall St advances as small-time traders turn to silver

Article by Devik Jain, Medha Singh. Editing by Maju Samuel. Reuters – February 1, 2021.

* iShares Silver Trust ETF set for best day since 2008

* Wall Street’s fear gauge eases from 3-month high

* Indexes up: Dow 0.38%, S&P 0.65%, Nasdaq 0.99% (Updates to market open)

Feb 1 (Reuters) – Wall Street’s main indexes climbed on Monday following a steep sell-off last week, as a shift in the retail trading frenzy to silver drove up mining stocks and investors monitored progress in talks over economic stimulus.

Nine of the 11 major S&P sectors advanced, with technology leading gains. Energy and consumer staples lagged the most.

The iShares Silver Trust ETF jumped 9.3% as silver broke above $30 an ounce for the first time since 2013 with an army of retail traders storming into the metal after betting billions of dollars on stocks last week. […]

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