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.
Warning! You don’t have to use all of these sources of information together; 3/4 is enough. Keeping too much data, especially if different, can be a bottleneck in your analysis.
Top free financial news sources
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.
Bloomberg introduced a paywall a few years ago that charges $34 per month. And unlike other websites with paywalls, this one is extremely difficult to crack.
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. Like Bloomberg, Reuters also introduced a paywall that goes for $35 per month.
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.
A watchlist is another viable source of financial news. A watchlist is a set of assets that a trader monitors for feasible trading opportunities.
Subsequently, you will stay abreast with news that are bound to affect the direction of the asset’s prices.