Have you been wondering where to look for up-to-date stock market news, info relating to individual companies, macroeconomic data, or PMI, Non-farm payrolls, and unemployment readings?
If you would like to become an active day trader, you should have an access to market data and world news as quickly as possible. How to do that? All you have to do is to follow proper websites, Twitter channels…or purchase the access to news platforms.
Today, I will present you “Stock Market News” websites.
Why do you need constant stock market news access?
Remember that when it comes to stock exchange, data access is the key. Your advantage over other traders directly translates into your ability to act quicker and in a more sensible manner. Let us imagine that an exceptionally important market situation emerges, but you have no idea what is going on. Indexes plummet, because an important piece of information concerning oil market has been published. You are trying to find a proper way out, at the same time wasting your money.
Nowadays, data access is of utmost importance. You do not need to choose paid platforms at the beginning, but you also should not ignore market trends, especially those relating to high volumes of sales. By staying informed, you save your money and time. If you reach the level when you are able to properly take advantage of published market-related news, you will start making additional money.
Key component of good platform with market news
Thanks to news systems, websites with current info, and quick news published on Twitter accounts of various traders, you will be granted:
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Easily accessible data on market events
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Access to information on speeches delivered by key economists and politicians
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Data on published financial reports of chosen companies
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Information on published macroeconomic data
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Data on news published by particular companies.
Key websites offering stock market news
It is highly recommended for you to familiarize yourself with most popular and appreciated websites among traders publishing market-related and macroeconomic data. Such news are frequently followed by comments assessing current market situation.
Personally, I would like to recommend you the following websites:
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CNBC – Official CNBC website: www.cnbc.com
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MarketWatch – Official MW website: www.marketwatch.com
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Reuters – Official Reuters website: www.reuters.com/finance/markets/us
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FxStreet – Official website: www.fxstreet.com
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Finance Yahoo – Official website: http://finance.yahoo.com
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Google Finance – Official website: http://google.com/finance
What are key macroeconomic data?
Most important macroeconomic indicators I take notice of and check before trading are:
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Non-Farm Payrolls – I mainly focus on this indicator, as it may notably change the situation on the market. Then, it is recommended to trade during the pre-market session.
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GDP
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PMI
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Retail Sales
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Personal income
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ADP Employment Change
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Initial Jobless Claims
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Continuing Claims
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FED decision about rates
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Unemployment Rate
In my opinion, those are most important macroeconomic data, the publication of which should be of exceptional importance for you. If you are a novice trader, you should not have open positions at the time of publication of the aforementioned pieces of information.
During the periods of increased market variability, the enlisted data may result in remarkable changes and the increase in the amount of sales.
Additionally, you should follow published data on oil and gas. Those are, among others: Natural Gas Inventory and Crude Oil Inventory.
Research platforms
For quite some time now, there have been two research platforms among my favorite websites. One of them is Citron Research. Quite frequently, pieces of information published there have a tremendous impact on the market.
Citron Research website: http://www.citronresearch.com/
Detailed information of the scope of operation of the company can be found here: http://www.citronresearch.com/who-is-citron-research/
Typically, those pieces of information are remarkably negative, and the value of individual shares plummets. Data from Citron Research are sent to user’s e-mail. Reaction speed is of utmost importance here. Remember that such a message is delivered to hundreds if not thousands users. Then, a self-perpetuating mechanism is initiated. The person who check the e-mail as the last sees the decrease in market value having been overcome. Individuals checking the notification first can react quickly and take advantage of the identified negative trend.
Some example of how it works
Let us check one of most recent examples. Citron Research has recently sent data on a very poor condition of the Chemours Company (CC). The company reacted to the news quite strongly. There was a sudden decrease in share value. Individuals, who have received the e-mail could take advantage of the change.
Nevertheless, the provided news may not always turn out to be true. Individuals who have missed their chance and have tried to look for a short a bit later might have lost a significant amount of money. Company shares do not always lose their value till the end of the session. On some occasions, the market as a whole may approach the occurred situation differently.
However, mistakes do happen as well. Below, you can check the example of the Valeant Pharmaceuticals Company (VRX). News about a poor condition of the company was published on 21st October 2015 when company shares value was equal to $240. The same day, the session ended with the value being $229. Within a week, it plummeted to $160 only to reach $70 after a month. Currently, company shares are worth 20 dollars.
BioRunUp – news relating to biotechnological companies
The second platform I follow is the one providing data on the condition of biotechnological companies.
I utilize BioRunUp both in the form of a newsletter and Twitter channel
Official website: http://www.biorunup.com/
Twitter: https://twitter.com/BioRunUp
Information on pharmaceutical companies are considered stimulants for strong movements – both increases and decreases. If you happen to receive a valuable piece of news, several to several hundred percent change is nothing odd. The same goes for useful, negative pieces of information which may cause a decrease in company shares value by several percent. I wholeheartedly recommend tracking pharmaceutical companies, especially when data from FDA are being published.
Market news platform – Benzinga Pro
I have been using the Benzinga PRO for several years now. It is a paid platform, but the costs of its usage are quickly overcome by the quality of received news – even a single one can grant you 100 % return on investment made.
You can check what the platform has to offer by watching the movie clip below:
As you can see, there are various types of data you can take advantage of. For me, the most important group includes news concerning companies listed on NYSE, NASDAQ, and AMEX markets.
From time to time, there are notable changes, especially in the case of cheaper companies. If the changes are not justified by any news published on the platform, share value tend to revert to its initial value. However, when valuable news is published, I know what is means and what chances there are for the value decrease or increase to continue or return to the previous threshold.
No news = pump and dump
Let us check an example presenting the condition of one of companies within last few days. There was a quick increase in the value from $1.90 to $2.80 that was not backed by any news. Therefore, the value quickly reverted to its initial state.
Such a situation is called the Pump and Dump. It is based on forcing the value upwards or downwards artificially by means of virtual campaigns organized by scammers on market forums, as well as by so-called company supervisors.
Quite frequently, novice traders, who do not have the access to any source of valuable news, try to look for longs in such companies, not knowing that there is likely to be a reversal. They do not know what has caused the movement, they cannot find any news concerning the event, and also – they believe that the trend will continue. Nevertheless, market quickly teach them humbleness. Companies, the value of which has quickly increased may plummet or even go below a never-before-seen minimum.
When it comes to the Benzinga PRO platform – its section including quarterly results is also worth checking out. If you know when particular companies publish their quarterly financial results, you will not be surprised by a sudden market variability or the increase of the amount of sales. Remember that the publication of such data is frequently accompanied by notable changes in the value of companies publishing them.
The same goes for data on acquisitions and new IPOs. The platform in question also immediately publishes macroeconomic data relating to the market.
If you want so check the platform, click here: Pro Benzinga News and get 14 days free trial!
Stock Market News – summary
As you can see, there quite a few platforms around. It does not mean, however that I have each and every one of them open at all times. I predominantly use research websites, Twitter channels (you can also start following my Twitter channel), and Benzinga Pro.
Every day, before session commencement, I check which macroeconomic data will be published. I am especially interested in data made available on 2:30 P.M. and 4:00 P.M.
