DJ News Highlights: Top Global Markets News of the Day

· 02/05/2021 05:00

GameStop 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 LockdownsNew U.S. Cases Edge Down but Deaths Spike on BacklogStocks 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.

Newly reported Covid-19 cases in the U.S. were down slightly from a day earlier, but deaths hit their highest daily tally yet, as a backlog of cases in Indiana was added to the nation's total.

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.

(END) Dow Jones Newswires

February 05, 2021 05:00 ET (10:00 GMT)