Friday, January 20, 2017
Trading on Wall street with the president.
Trading on Wall street with the president. Traders are using algorithms that capture Trump's remarks and then buy or sell affected stocks.The jaw-dropping speed at which certain stocks have moved in response to Donald Trump's tweets about corporate America makes it seem as if Wall Street already was waiting for the president words. Some sophisticated traders with automated programs are using computer algorithms that instantly capture Trump's Twitter remarks and then immediately buy or sell the affected stocks, analysts said. "It's in the algorithms. They've done it," said Joe Gits, chief executive of Social Market Analytics Inc. Gits' firm isn't among those traders, he said. Instead, the company culls the 500 million tweets issued daily on Twitter to find comments from influential people such as Trump that could affect stocks and then immediately relays that "sentiment" data to traders. continue