Head of Equities Americas at UBS Global Wealth Management, David Lefkowitz, on his market prospects.
Stocks flirted with a record high on Wednesday, but fell short as the House of Representatives prepared a second indictment of President Trump.
The Dow Jones industrial average averaged 8 points, or 0.03%, while the S&P 500 rose 0.23% and the Nasdaq Composite added 0.43%.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 31060.47 | -8.22 | -0.03% |
| SP500 | S&P 500 | 3809.84 | +8.65 | + 0.23% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13128.951098 | + 56.52 | + 0.43% |
The mixed session took place as the Democrats in the U.S. House of Representatives prepared their case for a second indictment of President Trump, which is expected to succeed mostly along party lines.
A Senate hearing only begins on January 19, a day before President Joe Biden’s inauguration, when the upper chamber reconvenes, Republican Senate Majority Leader Mitch McConnell’s office to Democratic minority leader Chuck Schumer, according to Chuck Schumer said. The Washington Post. McConnell said in a statement that he did not decide how he was going to vote.
In shares, Intel CEO Bob Swan retires on February 15 and is replaced by VMWare Inc. CEO Pat Gelsinger. Intel also said it expects revenue and earnings in the fourth quarter to exceed proposed spending, which will help send stocks to their best day since April.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| INTC | INTEL CORPORATION | 56.95 | +3.71 | + 6.97% |
INTEL CEO BOB SWAN IS OUT
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 157.91 | -0.16 | -0.10% |
Elsewhere, Johnson & Johnson is on track to submit its COVID-19 vaccine candidate for European Union approval in February, an EU lawmaker said.
Elsewhere, Target Corp increased 17.2% year-on-year sales in November and December as online sales more than doubled. The categories of household goods and constipation both had growth in the low 20% range.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TGT | TEIKEN CORP. | 196.82 | -2.28 | -1.15% |
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GameStop Corp. its shares rose to 94% before retiring amid a short-lived rally. The short stake in the stock reached 138% of the outstanding shares.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 31.40 | +11.45 | + 57.39% |
In transactions, Visa Inc. and financial technology company Plaid turned down their $ 5.3 billion merger after the U.S. government filed an antitrust lawsuit to stop the deal.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| V | VISA INC. | 209.35 | +0.49 | + 0.23% |
Meanwhile, Exxon Mobil Corp has been upgraded to ‘buy’ by JP Morgan, who said increased investor pressure and plans to reduce capital spending are one of the factors that will deliver ‘more consistent results’.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORPORATION | 48.43 | +0.55 | + 1.16% |
| CVX | CHEVRON CORP. | 93.24 | -0.10 | -0.11% |
Looking at commodities, West Texas Intermediate crude fell 30 cents to $ 52.91 a barrel and gold rose from $ 10.70 to $ 1,853.60 an ounce.
In economic terms, mortgage lending refinancing rose 20% year-over-week because Americans almost wanted to keep rate records.
In addition, the consumer price index rose 0.4% month-on-month in December, in line with expectations, rising 0.2% from the previous month. Prices rose by 1.4% annually.
MARK CUBAN PREDICTIONS BITCOIN, TOP CRYPTOS TO BLOOM LIKE TECHNOLOGY SURVIVES
European markets changed little, with the French CAC 40 up 0.21% and the British FTSE 225 up 0.13%.
Asian markets ended mixed with the Japanese Nikkei 225 rising 1.04%, while the Hang Seng Index in Hong Kong and the Chinese Shanghai Composite Index declined 0.15% and 0.27% respectively.