Here are five things you need to know for Monday, January 25th:
1. – Futures Edge stock higher as investors stimulate stimuli
The stock futures contract rose modestly on Monday as hopes remain high that the Biden White House will provide another stimulus to the struggling US economy and prepare investors for a week that is heavy on technical earnings.
Contracts linked to the Dow Jones industrial average rose 15 points, S&P 500 futures 13 points and Nasdaq futures 126 points.
President Joe Biden campaigned for approval of a $ 1.9 billion pandemic proposal, and officials in his government on Sunday sought to ward off Republican concerns that the package was too expensive, Reuters reported.
Lawmakers from both parties agreed that providing the Covid-19 vaccine to Americans should be a priority, Reuters reported, but some are focused on a smaller plan aimed at distributing vaccines.
Republican Senator Susan Collins said it “seems premature to consider a package of this magnitude and scope.” She agreed that additional funding was needed for the distribution of vaccines, but according to a “more limited” account, Reuters reported.
Stocks ended mixed on Friday as an increase in coronavirus infections and the possibility of stricter shutdowns offset expectations of more economic support from the Biden government. The Nasdaq closed with a record 0.09% to 13,543.
2. – This Week’s Calendar: Technical Earnings, Federal Reserve
Kimberly-Clark (KMB) – Get report will report earnings Monday at companies like Tesla (TSLA) – Get report, Appel (AAPL) – Get report, Microsoft (MSFT) – Get report on Facebook (FB) – Get report reported later this week.
Other heavyweights reported this week include AT&T (T) – Get report, Johnson & Johnson (JNJ) – Get report, Advanced Micro Devices (AMD) – Get report, General Electric (GE) – Get report, Lockheed Martin (LMT) – Get report, Boeing (BA) – Get report, Starbucks (SBUX) – Get report, McDonald’s (MCD) – Get report, Chevron (CVX) – Get report, Caterpillar (CAT) – Get report and Eli Lilly (LLY) – Get report.
Apple and Tesla rank among the best earnings in the week ahead
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The U.S. economic calendar on Monday is light, but later in the week consumer confidence, durable goods orders, jobless claims and gross domestic product appear.
The Federal Reserve will meet on Tuesday and Wednesday, with an announcement on interest rates expected after the meeting. The central bank is not expected to move up interest rates and has indicated that it will hold almost zero until 2023.
3. – Nancy Pelosi, speaker of the house, buys Tesla Options
Speaking of Tesla, Nancy Pelosi, the speaker of the U.S. House of Representatives, and her husband Paul, a businessman and private investor, recently bought shares in the electric vehicle company.
Pelosi bought 25 call options on Tesla on December 22, with a strike price of $ 500 and an expiration date of March 18, 2022, according to a government dossier. The value of the transaction was $ 500,001 to $ 1 million.
“Pelosi and her husband like to take long-term option positions,” wrote Davemanuel.com, which reported earlier on the deal, pointing out that Tesla closed at $ 640.34 on the day of purchase, “meaning that the cost per contract probably in the range of $ 300 – $ 330 per contract, as Tesla’s options contain a very high amount of extrinsic value (time and volatility). ‘
Telsa was added to the S&P 500 shortly before Pelosi’s purchase.
The stock is likely to benefit more from the country’s ‘blue wave’, according to a recent comment by Wedbush analyst Dan Ives.
” The Biden White House and Blue Senate are a very positive political backdrop and a potential ‘game changer’ for Tesla and the overall sector (electric vehicles) in the US, with a more green driven agenda now definitely in the cards are a few years away, “Ives writes, adding that a doubling of EV tax credits and other incentives from consumers and government initiatives could help Tesla, as well as General Motors. (GM) – Get report, Fisherman (FSR) – Get report and other names.
Tesla rose 1.67% to $ 860.80 on Monday. Baird analysts on Monday raised their price target on Tesla from $ 488 to $ 728 per share, saying ‘share bias remains upside down’.
4. – Korean Hedge Fund ‘Less Bullish’ on GameStop
Must Asset Management, the South Korean hedge fund that made a risky bet on GameStop (GME) – Get report nearly a year ago, it became less positive about the videogame retailer’s inventory, Bloomberg reports.
Kim Doo-yong, CEO of Must Asset Management, said the high volatility of the stock and the rise of more than ten times since his last interview with Bloomberg in March 2020 gave rise to his less rosy view.
“We became less positive and more neutral on GameStop,” Kim said in an interview with Bloomberg on Monday. “This stock will be very volatile and unpredictable in the short term.”
According to Bloomberg, Must Asset Management in Seoul had a stake in GameStop in 4.7Stock, making the Korean fund one of the largest investors in the company.
Kim declined to comment to Bloomberg on the fund’s current stake in GameStop, which rose more than 51% to a record high of $ 65.01 on Friday. Gameberg is a stock that became a favorite with retail investors, especially Reddit-laden day traders, during the coronavirus pandemic, Bloomberg noted.
At the pre-sale trading on Monday, the stock rose another 49.22% to $ 97.01. The share has risen 245% to date.
5. – Tom Brady plays in his 10th Super Bowl
Tom Brady is on his way to his 10th Super Bowl, and his first with Tampa Bay, after the Buccaneers beat the Green Bay Packers 31-26 in the NFC Championship on Sunday.
Brady has won six Super Bowl titles, all with the New England Patriots, the team he left behind last season.
Tom Brady’s Bucs season somehow contributed to a legacy that barely had room to be on top
Brady’s Buccaneers play the Kansas City Chiefs in Super Bowl LV on February 7th. The Chiefs defeated the Buffalo Bills 38-24 in the AFC Championship.
The Super Bowl is played at Raymond James Stadium in Tampa, Florida, meaning the Buccaneers are the first team to play a Super Bowl in their home stadium.