Here are five things you need to know by Monday, January 25:
1. – Futures are higher as investors evaluate stimulus discussions
Stock futures rose modestly on Monday, as hopes remained high that the Biden White House would provide a new round of incentives for the struggling U.S. economy as investors prepared for a tough week of technology gains. .
Dow Jones industrial average contracts rose 15 points, S&P 500 futures gained 13 points, and Nasdaq futures rose 126 points.
President Joe Biden has pushed for a $ 1.9 trillion pandemic aid proposal, and officials in his administration on Sunday tried to dispel Republican concerns that the package was too expensive, Reuters reported.
Lawmakers on both sides agreed that receiving the Covid-19 vaccine to Americans should be a priority, Reuters reported, but some focused on a smaller plan to distribute the vaccine.
Republican Sen. Susan Collins, for example, said it “seems premature to consider a package of this size and size.” She agreed that additional funding was needed for the distribution of the vaccine, but in a “more limited” bill, Reuters reported.
Stocks ended mixed on Friday as an increase in coronavirus infections and the possibility of tighter blockages offset expectations of greater economic support from the Biden administration. The Nasdaq closed at a record high of 0.09% to 13,543.
2. – This week’s calendar: Technical gains, Federal Reserve meeting
Kimberly-Clark (KMB) – Get the report will report revenue Monday with companies such as Tesla (TSLA) – Get the report, Apple (AAPL) – Get the report, Microsoft (MSFT) – Get the report and Facebook (FB) – Get the report reporting later this week.
Other weights reporting this week include AT&T (T) – Get the report, Johnson & Johnson (JNJ) – Get the report, Advanced micro appliances (I HAVE D) – Get the report, General Electric (YES) – Get the report, Lockheed Martin (LMT) – Get the report, Boeing (nay) – Get the report, Starbucks (SBUX) – Get the report, McDonalds (MCD) – Get the report, Chevron (CLC) – Get the report, Caterpillar (THE CAT) – Get the report and Eli Lilly (LLY) – Get the report.
Apple and Tesla are among the top earnings next week
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On Monday, the US economic calendar is light, but later in the week there will be versions on consumer confidence, durable goods orders, unemployment claims and gross domestic product.
The Federal Reserve will meet on Tuesday and Wednesday with an announcement of expected interest rates at the end of the meeting. The central bank does not expect to move interest rates and has signaled that it will keep them close to zero until 2023.
3. – House Speaker Nancy Pelosi buys Tesla options
Speaking of Tesla, Nancy Pelosi, a speaker for the US House of Representatives, and her husband Paul, a businessman and private investor, recently bought stock options at the electric vehicle company.
On December 22, Pelosi bought 25 call options on Tesla, with a price tag of $ 500 and an expiration date of March 18, 2022, according to a government file. The value of the transaction was from 500,001 to 1 million dollars.
“Pelosi and her husband love to take long-term options positions,” wrote Davemanuel.com, which reported earlier on the transaction, noting that Tesla closed with $ 640.34 on the day of purchase, “which means that the cost per contract was probably in the range of 300-330 USD per contract, because Tesla options contain a very large amount of extrinsic value (time and volatility). “
Telsa was added to the S&P 500 shortly before Pelosi’s purchase.
The action is likely to benefit more from the nation’s “blue wave,” according to a recent note by Wedbush analyst Dan Ives.
“The Biden White House and the Blue Senate are a very volatile political context and a potential ‘game changer’ for Tesla and the US general (electric vehicles) sector, with a greener agenda now certainly in the next few years.” Ives wrote, adding that a “doubling” of EV tax credits and other consumer incentives and government initiatives could help Tesla and General Motors (GM) – Get the report, Fisker (FSR) – Get the report and other names.
On Monday, Tesla rose 1.67% to $ 860.80. Baird analysts on Monday raised their Tesla price target to $ 728 a share from $ 488, saying “the bias for the stock remains high.”
4. – Korean Hedge Fund “Less Bullish” on GameStop
Must Asset Management, the South Korean hedge fund that made a bold bet on GameStop (GME) – Get the report Nearly a year ago, it became less optimistic about the video game retailer’s stock, Bloomberg reported.
Kim Doo-yong, CEO of Must Asset Management, said high stock volatility and more than 10-fold growth since his last interview with Bloomberg in March 2020 have made his vision less rosy.
“We became less bullish and became more neutral in GameStop,” Kim said in an interview with Bloomberg on Monday. “This stock will continue to be very volatile and unpredictable in the short term.”
Seoul-based Must Asset Management had a 4.7% stake in GameStop as of April 2020, according to Bloomberg data, making the Korean fund one of the company’s largest investors.
Kim declined to comment to Bloomberg about the current holding of the GameStop fund, which rose more than 51% on Friday to a record high of $ 65.01. GameStop is a stock that has become a favorite of retail investors during the coronavirus pandemic, especially Reddit-laden day traders, Bloomberg noted.
On Monday, during premarket trading, the stock increased by 49.22% to 97.01 USD. So far, the stock has gained 245%.
5. – Tom Brady will play in the 10th Super Bowl
Tom Brady is heading to the 10th Super Bowl, and his first with Tampa Bay, after the Buccaneers defeated the Green Bay Packers, 31-26, on Sunday in the NFC Championship game.
Brady has won six Super Bowl titles, all with the New England Patriots, the team he left out of last season.
Tom Brady’s Bucs season has somehow added to a legacy that barely had any room left
Brady’s buccaneers will play the Kansas City Chiefs in Super Bowl LV on February 7th. The Chiefs defeated Buffalo Bills, 38-24, in the AFC Championship.
The Super Bowl will be played at Raymond James Stadium in Tampa, Florida, which means the Buccaneers will be the first team to play a Super Bowl at their home stadium.