Economy

Shares drop after Biden released a $ 1.9 trillion coronavirus relief plan

Shares drop after Biden released a $ 1.9 trillion coronavirus relief plan

we the financial value Markets were mixed on Friday morning, following the details of the president-elect Joe BidenThe proposed $ 1.9 trillion COVID-19 relief package has alarmed investors and major banks kicked off the earnings season.

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I am: DJI Dow Jones averages 30743.06 -248.46 -0.80%
SP500 Standard & Poor’s 500 3767.36 -28.18 -0.74%
I: COMP Nasdaq Composite Index 13027.306528 -85.33 -0.65%

The Dow Jones Industrial Average traded 181 points, or 0.59%, while the S&P 500 index was down 0.25% and the Nasdaq Composite was up 0.17%.

Biden’s proposed package includes a $ 1,400 check for individuals and provides a temporary increase in unemployment benefits while also providing funding for the distribution of COVID-19 vaccines, among other things.

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Looking at stocks, Walmart is in focus after announcing that head of e-commerce unit Marc Lower will step down at the end of the month. Lore, who founded Jet.com before joining the retailer, has been the key person in developing strategies to compete against Amazon.

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WMT Walmart 144.56 -2.37 -1.61%
AMZN AMAZON.COM INC. 3,106.54 -20.93 -0.67%

JPMorgan Chase & Co. announced that its quarterly earnings rose 42% year-on-year, buoyed by the Investment and Trade Bank, offsetting headwinds from lower interest rates.

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JPM JP MORGAN CHASE & CO. 138.77 -2.28 -1.62%
WFC Wells Fargo & Company 32.25 -2.51 -7.22%
C CITIGROUP INC. 65.72 -3.34 -4.84%

Wells Fargo & Co recorded a windfall profit but lost revenue. The San Francisco-based lending bank’s board of directors approved an increase of 500 million shares for the buyback program.

Citigroup Inc. On the first grade, but she was unable to achieve any revenue.

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BB Blackberry Limited 10.96 +1.86 + 20.49%

Elsewhere, shares of BlackBerry Ltd. The security software hit sharply for the second session in a row after the Canadian newspaper The Globe & Mail reported that the company had sold 90 patents to the Chinese tech giant Huawei.

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POSH POSHMARK INC. 90.60 -10.90 -10.74%
Weft Petco Health and Wellness Company 29.45 +0.05 + 0.17%

Poshmark Inc.’s online resale market shares remained. In focus after a day of 142% rally in its NYSE debut as Petco did.

Economic data was mixed as retail sales fell 0.7% month over month in December, missing the predicted flat reading, and industrial production exceeding estimates by 1.6% month over month.

Looking at the commodities, WTI fell 80 cents to $ 52.77 a barrel and gold fell $ 10.30 to $ 1841.10 an ounce.

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European markets are generally lower, with the French CAC 40 down 1.07%, the German DAX 30 down 1.06%, and the British FTSE 100 weakening 0.91%.

In Asia, Japan’s Nikkei 225 is down 0.62% while China’s Shanghai Composite is up 0.01% and Hang Seng in Hong Kong is advancing 0.27%.

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