Here are five things you need to know by Monday, January 25th:
1. – Stock futures increase as investors assess the stimulus of the conversation
Equity futures rose modestly on Monday as hopes held that Biden’s White House would deliver another round of stimulus to the tough U.S. economy and investors prepare for a heavy week with tech gains.
Dow Jones Industrial Average-related contracts rose 15 points, the S&P 500 futures gained 13 points and the Nasdaq futures rose 126 points.
President Joe Biden has been pushing for approval of a $ 1.9 trillion pandemic aid proposal and officials in his administration on Sunday tried to avoid concerns from Republicans that the package would be too expensive, he said. inform Reuters.
Lawmakers on both sides agreed that getting the Covid-19 vaccine to Americans should be a priority, Reuters reported, but some have focused on a smaller plan aimed at distributing vaccines.
Republican Sen. Susan Collins, for example, said it “seems premature to consider a package of this size and scope.” He agreed that additional funding was needed for the distribution of vaccines, 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 more financial support from the Biden administration. The Nasdaq closed at a record, 0.09% higher, to 13,543.
2. – This week’s calendar: technical gains, Federal Reserve meeting
Kimberly-Clark (KMB) – Get the report will report earnings Monday with companies like 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 heavyweights reported this week include AT&T (T) – Get the report, Johnson & Johnson (JNJ) – Get the report, Advanced micro devices (AMD) – Get the report, General Electric (TO GIVE) – Get the report, Lockheed Martin (LMT) – Get the report, Boeing (BA) – Get the report, Starbucks (SBUX) – Get the report, McDonald’s (MCD) – Get the report, Chevron (CLC) – Get the report, Caterpillar (GAT) – Get the report and Eli Lilly (LLY) – Get the report.
Apple and Tesla are among the top gains next week
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The US economic calendar on Monday is light, but over the weekend there will be posts on consumer confidence, durable goods orders, unemployment claims and gross domestic product.
The Federal Reserve will meet on Tuesday and Wednesday, with an announcement on interest rates expected at the end of the meeting. The central bank is not expected to change interest rates and has indicated it will keep them close to zero until 2023.
3. – The Speaker of the House, Nancy Pelosi, buys Tesla’s options
Speaking of Tesla, Nancy Pelosi, a speaker in the U.S. House of Representatives, and her husband Paul, a businessman and private investor, recently bought stock options from the electric vehicle company.
Pelosi on December 22 bought 25 call options from Tesla, with a strike price of $ 500 and an expiration date of March 18, 2022, according to a government record. The value of the transaction was $ 500,001 to $ 1 million.
“Pelosi and her husband love to take long-term options positions,” wrote Davemanuel.com, which previously reported on the transaction, noting that Tesla closed at $ 640.34 on the day of purchase. ” which means the cost per contract was likely between $ 300 and $ 330 per contract, as Tesla’s options contain a very high extrinsic value (time and volatility) ”.
Telsa was added to the S&P 500 shortly before the purchase of Pelosi.
According to a recent note from Wedbush analyst Dan Ives, the shares are likely to benefit more from the country’s “blue wave”.
“A Biden White House and a Blue Senate are a very bullish political scenario and a potential ‘game changer’ for Tesla and the general sector (electric vehicle) in the US, with a greener agenda now on the charts in the next few years, ”Ives wrote, adding that“ a double ”of electric vehicle tax credits and other consumer incentives and government initiatives could help Tesla as well as General Motors (GM) – Get the report, Fisker (FSR) – Get the report and other names.
Tesla was up 1.67% to $ 860.80 on Monday in pre-market trading. Baird analysts on Monday raised their price target at Tesla to $ 728 per share, from $ 488, saying “the stock bias remains positive.”
4. – Korean Hedge Fund “Less Bullish” a GameStop
Must Asset Management, the South Korean hedge fund that made a bold bet on GameStop (GME) – Get the report almost a year ago, it has become less bullish on the shares of the video game retailer, Bloomberg reported.
Kim Doo-yong, CEO of Must Asset Management, said the high stock volatility and its increase of more than 10 times since his last interview with Bloomberg in March 2020 caused his vision less rosy .
“We’ve become less bullish and we’ve become more neutral on GameStop,” Kim said in an interview with Bloomberg on Monday. “This stock will remain very volatile and unpredictable in the short term.”
Seoul-based Must Asset Management had a 4.7% stake in GameStop in April 2020, according to Bloomberg data, making the Korean fund one of the company’s largest investors.
Kim declined to comment on Bloomberg’s current stake in the GameStop fund, which shot up more than 51% on Friday to a record high of $ 65.01. GameStop is one of the stocks that has become a favorite of retail investors during the coronavirus pandemic, particularly reddit-laden day traders, Bloomberg noted.
On Monday, during pre-market trading, shares soared another 49.22% to $ 97.01. So far, shares have gained 245%.
5. – Tom Brady will play in his 10th Super Bowl
Tom Brady is heading to his 10th Super Bowl, and his first in Tampa Bay, after the Buccaneers beat 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 last season.
Tom Brady’s Buc Brads season has somehow added to a legacy that barely had any room to overcome
Brady’s Buccaneers will play the Kansas City Chiefs in Super Bowl LV on Feb. 7. The Chiefs defeated the Buffalo Bills, aged 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.