US Stock Market Today: Equities edge lower as lockdown risk and data disappoint
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Here is what you need to know on Friday 22 January 2021:
European indices were weaker on Friday, with the Dax trading 0.6% lower, Euro Stoxx down 0.7% and the FTSE losing 0.8%.
US futures were also down, with Dow futures showing a 0.6% fall, S&P shedding 0.7% and Nasdaq losing 0.6%.
After a strong run to new record highs earlier in the week, profit-taking led most equity indices lower. Markets were also cautious as the EU warned further lockdown measures may be necessary. In Italy, reports that PM Conte may call a snap election caused further worries, with Italian bond yields rising. In the US, Dr. Anthony Faucci said the current Covid 19 vaccines may not be as effective against the new strains of the virus.
Economic data was disappointing, with UK retail sales coming in below expectations, while EU PMI readings for January were mixed and overnight Japanese PMI data showed the sector contracting in January.
Earnings from IBM after the close on Thursday disappointed, with IBM shares indicating down 7% in Friday’s pre-market. Intel (INTC) released earnings late on Thursday, which beat expectations., Intel (INTC) shares rose 6% on Thursday but the shares are 4% lower in Friday’s pre-market.
Ford (F) caught an upgrade from JPMorgan, Disney (DIS) was upgraded by UBS and Nomura initiated NIO as a buy.
Stocks covered this week at FXStreet:
RIOT Stock Price: Riot Blockchain Inc continues to slide as Bitcoin price nosedives (fxstreet.com)
Bed Bath and Beyond (BBBY) Stock Price and Forecast: Don’t get caught napping! (fxstreet.com)
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump (fxstreet.com)
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high! (fxstreet.com)
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital (fxstreet.com)
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants (fxstreet.com)
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch (fxstreet.com)
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off (fxstreet.com)
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector (fxstreet.com)
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has received compensation from FXStreet writing this article.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. I will not be held responsible for information that is found at the end of links posted on this page.
Here is what you need to know on Friday 22 January 2021:
European indices were weaker on Friday, with the Dax trading 0.6% lower, Euro Stoxx down 0.7% and the FTSE losing 0.8%.
US futures were also down, with Dow futures showing a 0.6% fall, S&P shedding 0.7% and Nasdaq losing 0.6%.
After a strong run to new record highs earlier in the week, profit-taking led most equity indices lower. Markets were also cautious as the EU warned further lockdown measures may be necessary. In Italy, reports that PM Conte may call a snap election caused further worries, with Italian bond yields rising. In the US, Dr. Anthony Faucci said the current Covid 19 vaccines may not be as effective against the new strains of the virus.
Economic data was disappointing, with UK retail sales coming in below expectations, while EU PMI readings for January were mixed and overnight Japanese PMI data showed the sector contracting in January.
Earnings from IBM after the close on Thursday disappointed, with IBM shares indicating down 7% in Friday’s pre-market. Intel (INTC) released earnings late on Thursday, which beat expectations., Intel (INTC) shares rose 6% on Thursday but the shares are 4% lower in Friday’s pre-market.
Ford (F) caught an upgrade from JPMorgan, Disney (DIS) was upgraded by UBS and Nomura initiated NIO as a buy.
Stocks covered this week at FXStreet:
RIOT Stock Price: Riot Blockchain Inc continues to slide as Bitcoin price nosedives (fxstreet.com)
Bed Bath and Beyond (BBBY) Stock Price and Forecast: Don’t get caught napping! (fxstreet.com)
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump (fxstreet.com)
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high! (fxstreet.com)
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital (fxstreet.com)
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants (fxstreet.com)
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch (fxstreet.com)
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off (fxstreet.com)
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector (fxstreet.com)
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has received compensation from FXStreet writing this article.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. I will not be held responsible for information that is found at the end of links posted on this page.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.