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

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 1 trillion yuan of special government bonds, more than $138 billion.

Shares of videogame retailer GameStop surged nearly 75 percent 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, PennyMac, and Mr. Cooper—have an increasing influence in the industry.