Whether you trade stocks, Forex, futures, or options, you need to be up-to-date on financial news. I can’t emphasize how important it is to be aware of pending economic news announcements, or earnings reports if you are currently in an open trade. Not only will it protect you from possible financial ruin, but it can help you to capture a potentially huge windfall. News is important to both fundamental and technical traders alike.
So, here is an overview of my top online sites for news about stocks, forex, futures, and the economy. I do look for different types of information from each one, but I wanted to share my favorite ones with you:
This is my go-to site for economic news releases. The daily calendar gives all the major news that can affect any of the international markets, including GDP, Crude Oil inventories, Unemployment and NFP, FOMC and other world releases and reports… to name a few. Economic releases are important to keep track of, as they can dramatically affect how the market moves. Each scheduled release also has an “Impact” key that shows the expected effect the report can have on the specific region noted.
This is a good site for market news, especially related to stocks. The information is good to know, but remember that they are writers and not traders… so keep that in mind.
finviz – Financial Visualizations (www.finviz.com)
Great overview site for stock traders. It gives top 10 lists of specific pattern stocks and signals that have potential trading opportunities. It also gives a great “heatmap” which is a color-coded chart showing sector strength/weakness based on specific companies. It is also a good source for a newsfeed of headlines related to specific names. Lower on the page you can find info on Insider Trading and key Futures stats, including Forex and Bonds.
TradingView is awesome. If you setup a free account, the charting is really good for a web-based application. It is so good that Hawkeye will be developing our suite of indicators specifically to run on TradingView in the near future, and we will host it on our own website, thus freeing you from the attachment to any specific platform. More about this as we get closer to the finish line. Anyway, I like this site because I can filter news based on my interests (specific stock for example). On a single screen, I can review the technical chart and beside it are all the headlines related to the stock on the chart. What a great time-saver.
Of course, there are many others, like Yahoo! Finance, Google Finance, Reuters, Bloomberg, CNBC, etc… I just highlighted my favorites. What is important is the overall sentiment you get from the major headlines and articles, not necessarily what is specifically written in the articles… remember, they are writers, not traders.
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