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US Stocks Close Mixed, S&P 500 & Nasdaq Book Highs
Wall Street closed little changed on Thursday led by Big Tech ahead of earnings, as the S&P 500 and Nasdaq rose to new records a day after Joe Biden was sworn in as President. On the corporate side, Apple shares jumped 3% after top analyst Katy Huberty said she expects a record quarter print for the tech giant. On the flip side, shares of major US airline United fell 6.4% after posting its fourth straight quarterly loss and warning that sales will continue weak in the near future. On the policy side, President Biden released details of his Covid plan, including 10 executive orders and his intent to use the Defense Production Act to boost output of protection equipment. On the macro side, jobless claims totaled 900 thousand for the week ended January 16. The Dow Jones lost 12 points or less than 0.1% to 31,176. In contrast, the S&P 500 edged up 1 points or less than 0.1% to 3853, while the Nasdaq jumped 74 points or 0.6% to 13,531.
Published on 2021-01-21

Wall Street Mostly Higher
Stock indexes were mostly higher on Wall Street in choppy trading Thursday afternoon, with the Nasdaq Composite outperforming its peers buoyed by the technology sector. Apple and Facebook were among the biggest gainers, up 3.5% and 2%, respectively. A tepid labour market recovery overshadowed some of the stimulus-driven enthusiasm, with investors wary that the economy will shed jobs for a second straight month in January. Still, the economy remains anchored by robust manufacturing and housing sectors.
Published on 2021-01-21

US Stocks Rally Fades
The Dow Jones and the S&P 500 traded around the flatline on Thursday as investors take a breath after all 3 key stock indexes closed at fresh records the day before, amid optimism the new Biden administration would boost fiscal spending to support the economic recovery. The Nasdaq however, continued to break records boosted by Apple as investors anticipate strong earnings reports next week. Meanwhile, the results from Baker Hughes disappointed while those from Union Pacific topped forecasts. Intel, IBM and CSX are due to report after the closing bell. On the data front, initial jobless claims remained elevated and both housing starts and building permits surprised on the upside.
Published on 2021-01-21

NASDAQ 100 Hits All-time High
NASDAQ 100 increased to an all-time high of 13350
Published on 2021-01-21

Dow Jones CFD hits All-time High
Dow Jones CFD increased to an all-time high of 31276
Published on 2021-01-21

US Futures Extend Records
US futures were higher on Thursday, extending records from the previous session, amid optimism the new administration would boost fiscal spending to support the economic recovery after Joe Biden was sworn in as the 46th president of the United States. Meanwhile, the earnings season continues with earnings from Baker Hughes disappointing while those from Union Pacific topped forecasts. Intel, IBM and CSX are due to report after the closing bell. On the data front, initial jobless claims fell more than expected to 900K and both housing starts and building permits surprised on the upside. On Wednesday, all three major stock indexes finished in record territory. The Dow Jones surged 285 points or 0.8% to 31,188. The S&P 500 jumped 53 points or 1.4% to 3,852. The Nasdaq soared 260 points or 2% to 13,457..
Published on 2021-01-21

US Stock Future Rises Slightly
US stock futures traded slightly higher on Thursday on optimism for more aid after Joe Biden’s inauguration. Meanwhile, Republicans in Congress signaled a willingness to work with Biden, though several voiced opposition to his $1.9 trillion proposed stimulus. On the corporate front, Procter & Gamble Co raised its full-year sales forecast for a second time as it benefited from COVID-19 -driven demand for cleaning products, while also mentioning that the pace of sales might slow as vaccines rollout continue. Meantime, United Airlines said it aims to cut about $2 billion of annual costs through 2023 after pandemic-triggered loss in Q4. On Wednesday, all three major US indexes finished in record territory as Biden takes the presidency. The Dow Jones surged 285 points or 0.9% to 31,215. The S&P 500 jumped 53 points or 1.5% to 3,852. The Nasdaq soared 260 points or 2% to 13,467.
Published on 2021-01-21

S&P 500 CFD hits All-time High
S&P 500 CFD increased to an all-time high of 3860
Published on 2021-01-21

Wall Street Notches Fresh Records
All three major US indexes finished in record territory on Wednesday, as Joe Biden was sworn in as President. During his speech, Joe Biden said the US must end 'uncivil war' between factions. The 46th US President will also sign 15 executive orders in the afternoon related to the pandemic, the economy, climate change and racial inequity. On the corporate side, the tech sector led the rally with shares of Netflix jumping 17 percent to reach an all-time high. On the policy side, the Chinese government slapped sanctions on 28 members of the Trump administration on Wednesday after Biden’s inauguration speech, claiming violations to China’s sovereignty, banning them and their family members from entering the mainland. The Dow Jones added 285 points or 0.9% to 31,215. The S&P 500 jumped 53 points or 1.5% to 3852. The Nasdaq surged 260 points or 2% to 13,467.
Published on 2021-01-20

Dow Jones Hits All-time High
Dow Jones increased to an all-time high of 31195
Published on 2021-01-20

US Stocks Rise as Biden Sworn in as President
The Dow Jones rose more than 200 points and both the S&P 500 and Nasdaq hit record highs on Wednesday as investors welcomed a peaceful Biden’s inauguration and strong earnings reports. During his speech, Joe Biden said the US must end 'uncivil war' between factions. The 46th US President will also sign 15 executive orders in the afternoon related to the pandemic, the economy, climate change and racial inequity, incoming Press Secretary Jen Psaki said. On Tuesday, Janet Yellen, who is Biden's nominee for Treasury Secretary, urged lawmakers to “act big” in efforts to rescue the economy, during her Senate hearing. On the corporate front, Netflix EPS released after the closing bell on Tuesday came lower-than-expected but the company reported strong subscriber growth. Results from Morgan Stanley, P&G and Bank Of New York Mellon also beat on the upside. UnitedHealth earnings came above forecasts although its quarterly profit fell nearly 38%.
Published on 2021-01-20

Russell 2000 Hits All-time High
Russell 2000 increased to an all-time high of 2167
Published on 2021-01-20

S&P 500 Hits All-time High
S&P 500 increased to an all-time high of 3827
Published on 2021-01-20

US Stocks Rise on Biden's Inauguration
The Dow Jones rose more than 150 points and both the S&P 500 and Nasdaq hit record highs on Wednesday as investors follow President-elect Joe Biden’s inauguration and strong earnings reports. Biden is expected to provide more details on the $1.9 trillion stimulus plan during his speech and will sign 15 executive orders in the afternoon related to the pandemic, the economy, climate change and racial inequity, incoming Press Secretary Jen Psaki said. On Tuesday, Janet Yellen, who is Biden's nominee for Treasury Secretary, urged lawmakers to “act big” in efforts to rescue the economy, during her Senate hearing. On the corporate front, Netflix EPS released after the closing bell on Tuesday came lower-than-expected but the company reported strong subscriber growth. Results from Morgan Stanley, P&G and Bank Of New York Mellon also beat on the upside. UnitedHealth earnings came above forecasts although its quarterly profit fell nearly 38%.
Published on 2021-01-20

NASDAQ 100 Hits All-time High
NASDAQ 100 increased to an all-time high of 13147
Published on 2021-01-20

US Futures Higher Ahead of Biden Inauguration
US futures were higher on Wednesday as investors await President-elect Joe Biden’s inauguration later in the day. In his speech, Biden is expected to provide more details on the $1.9 trillion stimulus plan and traders will also be looking for any changes in policy. On Tuesday, Janet Yellen, who is Biden's nominee for Treasury Secretary, urged lawmakers to “act big” in efforts to rescue the economy, during her Senate hearing. On the corporate front, Netflix EPS released after the closing bell on Tuesday came lower-than-expected but the company reported strong subscriber growth. Results from Morgan Stanley, P&G and Bank Of New York Mellon also beat on the upside. UnitedHealth earnings came above forecasts although its quarterly profit fell nearly 38%. On Tuesday, the Dow Jones rose 116 points or 0.4% to 30,931. The S&P 500 gained 31 points or 0.8% to 3,799. The Nasdaq jumped 199 points or 1.5% to 13,197.
Published on 2021-01-20

US Stock Futures Point to Flat Opening
US stock futures were little changed on Wednesday as Joe Biden takes over the presidency. Investors weighed the prospects of a large fiscal stimulus against concerns about high valuations that are approaching levels last seen in the Dotcom era. On the corporate side, Walt Disney said Tuesday that it had scrapped performance-based bonuses last year for top executives as the company tries to soften the impact of the COVID-19 shocks. Meantime, Netflix mentioned that its global subscriber topped 200 million at the end of 2020, adding that it will not need to borrow to run the business of TV shows and movies. On Tuesday, the Dow Jones rose 116 points or 0.4% to 30,931. The S&P 500 gained 31 points or 0.8% to 3,799. The Nasdaq jumped 199 points or 1.5% to 13,197.
Published on 2021-01-20

US Stocks Rebound on Tuesday
Wall Street closed in the green for the first session in three on Tuesday, as stimulus bets and vaccinations plans outweighed lacklustre bank earnings. On Sunday, Dr. Rochelle Walenksy, President Biden’s pick to lead the CDC, said she is confident the US will have enough vaccine doses to inoculate 100 million people in 100 days. On the corporate side, shares of Goldman Sachs closed 2.3% lower despite beating both earnings and revenue forecasts. Meanwhile, shares of Bank of America closed lower after the bank exceeded earnings expectations but booked disappointing revenue. The Dow Jones added 116 points or 0.4% to 30,931. The S&P 500 gained 31 points or 0.8% to 3799. The Nasdaq jumped 199 points or 1.5% to 13,197.
Published on 2021-01-19

US Stocks Mostly Higher
Wall Street's main indexes began a holiday-shortened week higher as investors reviewed earnings reports from big banks, while the prospect of a stimulus-driven economic recovery eclipsed concerns about the pandemic in the near-term. Treasury Secretary nominee Janet Yellen advocated for large-scale fiscal aid to help nurse the economy through the coronavirus crises, saying the benefits outweigh the costs of a higher debt burden. Meantime, the earnings season continues with earnings from Bank of America and Goldman Sachs beating forecasts while Netflix is due to report after the close.
Published on 2021-01-19

US Stocks Pare Some Gains as Yellen Testifies
Dow Jones was up 90 points after jumping more than 200 points at the open as investors digest Janet Yellen's Senate confirmation hearing. Yellen, who is Biden's nominee for Treasury Secretary, said the value of the USD and other currencies should be determined by markets and that she believes parts of 2017 tax cuts for wealthy Americans and large companies should be partially repealed. She also added that without more aid, the COVID-19 induced recession may leave permanent scars on the US economy. Meanwhile, the earnings season continues with earnings from Bank of America and Goldman Sachs beating forecasts while Netflix is due to report after the close. The S&P 500 was up 0.2% and the Nasdaq 0.4%.
Published on 2021-01-19