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The group of previously unloved stocks has fluctuated in recent sessions as bullish momentum locks horns with profit-taking.
Berkshire Hathaway invested $8.6 billion in Verizon stock through the quarter that ended December 31.
The move comes after traders organizing on Reddit forums furiously bid up the shares in an unprecedented short squeeze.
How Reddit Day Traders Are Using the Platform to Upend the Stock Market and Make Money in the Process
Retail investors on Reddit are boosting GameStop shares in defiance of hedge funds and investing norms, and one expert sees the unconventional rally as a sign "the institutions are losing some control."
New claims for the week that ended Saturday totaled 965,000.
US GDP Surged a Record 33 Percent in the 3rd Quarter as the Economy Reopened, Roughly Double the Next-Biggest Jump
Still, the increase doesn't offset the prior quarter's decline. Experts have said a full recovery may take years, as the pace of GDP growth is set to moderate significantly in the last three months of 2020.
Earnings season kicked off on Tuesday, and executives are sounding off on the stimulus stalemate and the risks it poses to the ongoing economic recovery.
"I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a major Stimulus Bill," Trump tweeted Tuesday afternoon.
Global gross domestic product will shrink by 3% in 2020 before recovering by 5.8% in 2021, according to the International Montetary Fund's base case.
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