Former NYSE CEO Dick Grasso argues that the economy could expand by up to 5% in the first half of 2021.
U.S. stock markets rose Thursday morning as traders waited for details of President-elect Joe Biden’s proposed COVID-19 relief package.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| Ek: DJI | DOW JONES AVERAGE | 31199.61 | +13.14 | + 0.45% |
| SP500 | S&P 500 | 3819.82 | +9.98 | + 0.26% |
| I: COMP | NASDAQ COMPOSITION INDEX | 13187.40066 | +58.45 | + 0.45% |
The Dow Jones industrial average averaged 95 points, or 09.31%, in the first minutes of trading, while the S&P 500 and Nasdaq Composite were 0.23% and 0.3% higher, respectively.
PRAYER’S EXPECTING STIMULUS PLAN JUICES
Biden’s proposal, which is expected to cost up to $ 2 billion, could provide more assistance to households and businesses, in addition to relieving the state and local governments. The soon-to-be Senate Majority Leader Chuck Schumer, a New York Democrat, was seeking a $ 1.3 billion COVID-19 aid package.
Elsewhere on Capitol Hill, President Trump was charged on Wednesday with “inciting rebellion.” With the right to vote from 232 to 197, all House Democrats and ten of their Republican counterparts stood behind the benchmark. Senate Majority Leader Mitch McConnell of Kentucky said the upper chamber would not be able to start until January 19 – one day before Biden’s inauguration.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| DAL | DELTA AIR LINES INC. | 42.38 | +1.94 | + 4.80% |
Looking at equities, Delta Air Lines Inc. halved its daily cash burn to $ 12 million during the three months to December, while a slightly larger quarterly loss occurred than analysts at Wall Street expected. The Atlanta airline lost a record $ 12.39 billion last year.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| BLK | BLACKROCK INC. | 757.41 | -25.08 | -3.21% |
| JPM | JP MORGAN CHASE & CO. | 142.27 | +1.91 | + 1.36% |
| WFC | WELLS FARGO & COMPANY | 34.64 | +0.84 | + 2.48% |
| C | CITIGROUP INC. | 68.21 | +1.34 | + 2.01% |
BlackRock Inc. reported quarterly earnings and revenue that exceeded estimates as assets under management reached a record $ 8.68 billion. On Friday, a trio of major banks will report the results, including JPMorgan, Wells Fargo and Citigroup.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| TSLA | TESLA INC. | 858.60 | +4.19 | + 0.49% |
Elsewhere, Tesla Inc. asked by the National Traffic Safety Administration to call in 158,000 vehicles due to the faulty touch screens.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 34.83 | +3.38 | + 10.73% |
Meanwhile, GameStop Corp rose for a second consecutive day amid alleged short-term pressure, as short-term interest recently hit 138% of outstanding shares. Shares of the video game retailer rose 58% on Wednesday.
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| INTC | INTEL CORPORATION | 58.87 | +1.92 | + 3.36% |
Shares of Intel Corp have continued their momentum since Wednesday when they rose 6.97% following the news that CEO Bob Swan will retire next month. He will be replaced by VMWare Inc. CEO Pat Gelsinger.
In transaction news, Google and Fitbit closed their $ 2.1 billion deal after the British regulators approved the deal. U.S. regulators have reminded investors that they have not yet signed up. In a company blog, Google noted: “This agreement has always been about devices, not data, and we’re been clear from the start that we’ll protect the privacy of Fitbit users.”
| Ticker | Safety | Last | Alter | Alter% |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 1 753.42 | +6.17 | + 0.35% |
In commodities, West Texas Intermediate crude fell 46 cents to $ 52.45 a barrel and gold slipped $ 9.70 to $ 1,845.20 an ounce.
Britain’s FTSE 100 increased the rise in Europe, by 0.5%, the German DAX 30 by 0.24% and the French CAC 30 by 0.17%.
Asian markets ended mixed with the Chinese Shanghai Composite index falling 0.91% while the Japanese Nikkei 225 and the Hong Kong Hang Seng index climbed 0.85% and 0.93% respectively.