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DJ News Highlights: Top Global Markets News of the Day

· 02/05/2021 03:00
Yellen Says 'We Need to Act Big' on Covid ReliefGameStop Mania Drives Scrutiny of Payments to Online BrokersMarkets Withstood the GameStop TestGPB Capital Faces Fraud Charges Over $1.7 Billion Ponzi-Like SchemeIndia Central Bank Keeps Key Lending Rate UnchangedBond Market Volatility Boosts Online Trading PlatformsPartisan Pressures Weigh Heavily as Senate Looks for Covid-19 Relief DealRegulators Say Market Infrastructure Was Resilient in GameStop FrenzyGerman Factory Orders in December Hit by LockdownsStocks Rise to Records as Jobless Claims Fall

The S&P 500 and Nasdaq rose to new highs after filings for U.S. unemployment benefits showed a decline from the previous week, with investors watching for signs that the economic recovery remains under way.

German manufacturing orders fell 1.9% in December, suggesting the stricter lockdown in the country and continuing restrictions across the eurozone had a negative impact on the industrial sector.

The Treasury Department, SEC and other regulators discussed market functionality and recent trading practices in equity, commodity and related markets.

Ninety-four members belong to the party that won their state's presidential contest. With more voters siding with a single party, it may mean many lawmakers have less flexibility to make deals with the opposing party.

Average daily trading volume on Tradeweb's online bond trading platform topped $1 trillion in January. Other firms are also seeing a surge in trading.

The Reserve Bank of India kept its lending rate unchanged, while saying that the outlook for growth has improved significantly.

GPB Capital faces a Martin Act complaint in New York and civil fraud claims from the Securities and Exchange Commission.

Investors should take at least a crumb of comfort that the market has so far avoided a major tumble thanks to GameStop.

The Reddit-fueled frenzy in stocks such is prompting calls for regulators to reconsider a decades-old practice in the U.S. stock market: payment for order flow.

Treasury Secretary says President Biden wants to advance a new coronavirus relief package with bipartisan support but that the administration must act forcefully with a deal that supports families and businesses.

(END) Dow Jones Newswires

February 05, 2021 03:00 ET (08:00 GMT)

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