Here are some basic resources that all new traders and investors should use.
It’s important to stay on top of the latest financial news. That way you stay up-to-date on what’s going on in the markets.
As a beginner, don’t read too many news sites. It can get overwhelming sometimes. Start with just 2:
Think of CNBC as the “official” source for financial news. CNBC focuses on mainstream news and mainstream opinions.
You should read CNBC.com for several reasons.
- CNBC represents “official news”. A quick glance at the headlines will give you a general sense of what mainstream financial media is focused on right now. CNBC does not focus on small and insignificant news topics. This is good because you don’t have time to sift through hundreds of pieces of news every day.
- CNBC attracts a lot of big-name individuals to their interviews. Investors like Ray Dalio and Warren Buffett only do interviews on CNBC. Government officials like Commerce Secretary Wilbur Ross don’t appear on many media outlets except CNBC’s Squawk Box. This is THE media platform for heavy-hitters to share their views.
The problem with CNBC is that most of its opinions aren’t backed by much data. It’s full of financial dogma such as “fund manager XYZ expects stocks to fall because interest rates will rise”.
Bloomberg.com is more focused on data than CNBC. Whereas CNBC is mostly news and opinion, Bloomberg focuses on economic and market related data. CNBC’s opinions aren’t backed up by much data. It’s usually “fund manager XYZ is bullish b/c he expects the market to bounce on its 200 daily moving average”. Bloomberg’s opinions are backed up by many historical data and indicators that the average trader doesn’t know about.
Bloomberg is a rather unbiased media outlet. The data speaks for itself. How you interpret Bloomberg’s data is up to you. Bloomberg doesn’t really focus on the baseless opinions from various analysts, fund managers, and market commentators.
As you can see here at BullMarkets, we use a lot of different charts for the stock market. So where can you find price charts for various stocks?
Most brokers have their own charting software. However, you can easily find charts for free online.
I like to use Investing.com on the go. It’s easy to use and readily accessible. For example, here is a chart of the S&P 500 from Investing.com
To find a stock, just click on the upper search bar, and type in the stock that you want to find. Here’s an example with Facebook stock.
The problem with Investing.com is that as a free service, its data is limited. For example, a lot of charts will only go back 20-30 years.
Stockcharts.com has charts that go much further into history (e.g. into the 1980s, 1970s, 1960s). There is a free version and a paid version.
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