There are many reasons why asset prices move.
A stock price can move up when insiders in the company buy the stocks in the company or when the company announces better-than-expected financial results.
A currency pair could move up when the economic data from a country is better than traders are expecting while the price of a commodity could move up when the demand slows.
In all this, the need for news is very important. This is because investors who are the first to receive the news usually do well than those who receive it late. In the financial market, whether you make or lose money can depend on less than a second.
This is the main reason why most institutional investors are happy to pay $20,000 for the Bloomberg Terminal! Obviously not everyone can afford these fees, and that's why the popularity of some free (or freeminum) platforms has grown over time.
Here are the best sources of news that you should use.
› How to do News Trading in the right way
Bloomberg is the biggest business news source in the world. The company employs more than 3000 financial journalists from around the world. These journalists are there to break stories and share their perspectives on trade.
They report their content in the Bloomberg Terminal and on the Bloomberg television. While the terminal is unaffordable to many people, their websites, apps, and television is a good way to find news and opinions about the market.
Some times ago, the company introduced a paywall for their content. Since this paywall is expensive, you can instead clear the cookies or reinstall the app after reaching the limit.
Reuters is the second biggest financial services provider in the world after Bloomberg. Reuters has a market cap of more than $30 billion. The company applies the same model like Bloomberg, with most of its revenues coming from the premium subscribers of Reuters Eikon.
The company has mobile apps and websites that are among the first to break news.
CNBC is a leading financial services company owned by Comcast. The company’s TV network is among the first to report breaking news on Wall Street companies. It is also one of the most-watched financial services television network (and provide some excellent podcast).
As a trader, you should have either CNBC or Bloomberg running.
These days, Twitter is the fastest news network in the world. People go there to share news and information on various topics. Journalists post the news there before they post in their networks.
Twitter is also an ideal place to find ‘hidden news stories.’ These are stories that are hard to discover, especially those from very local news sources.
For example, a major news story from a small country might not make it in big platforms like Bloomberg.
› Traders and Trading Accounts to Follow on Twitter
Like Twitter, Reddit is an important place to find hidden news stories. While it is known for its focus on weird stories, many investors use it to find quality news stories from a wide variety of news sources.
› How to Exploit Reddit in Day Trading
Stocktwits is a financial service of Twitter. In it, investors from around the world share the content about finance and their projections. This is a good website to find a wide variety of crowdsourced materials.
A watchlist is another viable source of financial news. A watchlist is a set of assets that a trader monitors for feasible trading opportunities.
A typical financial market has numerous entities. As a trader, not all the incoming news are in line with your area of interest. Besides, it is not possible to follow all the assets. To ensure that you don’t miss out on events that are influential to a particular security, it is important to create a watchlist.
You can choose to create a watchlist based on the companies’ size, industry, or type of financial instrument. Most brokers enable their clients to develop this trading tool. Besides, sites such as Webull and MarketWatch allow one to formulate an effective watchlist.
Subsequently, you will stay abreast with news that are bound to affect the direction of the asset’s prices.
In the current digital world, YouTube has become a popular and credible news platform. As a trader, you will benefit from the up-to-date information presented by various professionals.
What’s more, the presenters often include fundamental analysis in the conversation. Some of the reliable YouTube channels to consider include Bloomberg Markets and Finance and CNBC Television’s Mad Money.
Besides, there are some live YouTube channels that avail the latest news to traders. The TraderTv live is one such platform.
Just like on YouTube, there are numerous professionals who avail recent news to traders. Some of the podcasts to consider include InvestTalk, Motley Fool, and Wake Up to Money. One of the benefits of using podcasts as a source of financial news is the inclusion of detailed analysis of the events.
Telegram is becoming a popular source of news for traders. Bloomberg News is one of the entities that is effectively using this means of communication. When you subscribe to such a platform, you will be receiving one or several messages on a daily basis.
The crafted newsletter contains relevant stories as well as links to other news.
Top Free Sources to Find Quality Financial News – UsefulTips
- Learn more on Investopedia