Barry Bannister, chief stock analyst at Stifel, discusses his forecast for markets and the economy amid the coronavirus pandemic.
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.
| ribbon | Safety | the last | They change | They change% |
|---|---|---|---|---|
| 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.
| ribbon | Safety | the last | They change | They change% |
|---|---|---|---|---|
| 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.
| ribbon | Safety | the last | They change | They change% |
|---|---|---|---|---|
| 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.
| ribbon | Safety | the last | They change | They change% |
|---|---|---|---|---|
| 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.
| ribbon | Safety | the last | They change | They change% |
|---|---|---|---|---|
| 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%.
