GameStop Shares Surge Nearly 75%; China Will Raise Over $1 Billion to Stimulate Sluggish Economy | Business Matters Full Broadcast (May 13)

Business Matters with Don Ma

China will start raising money to stimulate the economy. this is going to be with its long-awaited, long-term special treasury bonds this week. The finance ministry confirmed that it will be issuing one trillion yuan of special government bonds, more than $138 billion dollars.

Shares of videogame retailer GameStop surged nearly 75% on Monday after "Roaring Kitty", an account associated with a social media finance influencer credited with sparking the 2021 meme stock rally, returned to X after a three-year hiatus from the app.

U.S. regulators are warning that the mortgage industry could intensify the next recession. The financial stability oversight council says non-bank mortgage companies -- like rocket mortgage, penny-mac, and mister cooper -- have an increasing influence in the industry.