US Stock Market Today: Markets buoyed by return to normality as Gamestop effect fades
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Subscribe to PremiumHere is what you need to know on Wednesday, February 3:
FXStreet New Equities homepage
European indices were mixed on Wednesday as the FTSE was down 0.3%, Dax up 0.5% and Euro Stoxx up 0.1%.
Overnight, Asian stocks closed higher with the Nikkei up 1% and the HangSeng up 0.2%
US markets were pointing towards a higher opening, the Nasdaq future was 0.6% higher, Dow flat and S&P futures up 0.3%.
EuroStoxx 50
Asian markets took their lead from the strong showing in US markets on Tuesday. Both Nikkei and Hang Seng closed higher despite Chinese and Japanese PMI readings being weak.
European and US markets were buoyed by prospects of US stimulus going ahead despite Republican opposition. Recent fears over the impact of the retail trading frenzy began to ease. Most retail interest shares fell heavily on Tuesday as the power of retail appeared to wane. Treasury Secretary Janet Yellen was set to meet with officials on Thursday to discuss recent developments.
In Italy bond markets were buoyed by the prospect of Mario Draghi becoming prime minister. Italian yields fell on the news as Draghi, a former ECB chief, was seen as a stabilising influence.
US ADP employment change for January was well ahead of economists estimates. 174k jobs added versus 49k estimate.
Earnings season continued to impress with Alphabet (GOOGL) announcing strong results with GOOGL up 7% in pre-market trading on Wednesday.
Amazon (AMZN) shares were up over 2% in the pre-market as investors' initial fears over news of CEO Jeff Bezos stepping down were tempered by the realisation he would still be heavily involved in Amazon (AMZN). Amazon reported record results after the close on Tuesday.
Spotify shares are lower in pre-market trading as revenue beat forecasts but a worse than expected loss hit the shares.
Alibaba (BABA) shares were sharply higher as ANT Group was reported to have reached a deal with Chinese regulators.
Morgan Stanley increased its price target for Alphabet (GOOGL), Barclays and Susquehanna raised Amazon (AMZN) and Raymond James increased their target for Alibaba (BABA).
Stocks covered at FXStreet:
AstraZeneca (AZN) Stock News: AstraZeneca vaccine reduces virus spread and delay between doses works
Gamestop (GME) Stock Price and Forecast: GME settles below $100, sheds 5.50% in post-market trading
Apple (AAPL) Stock Price Forecast: Apple Inc always worth taking a bite! Ex dividend on Feb 5
Should I buy GameStop (GME Stock) right now? Update: Fed's green light battles profit-takers
Gamestop (GME) Stock Price and Forecast: Are shares going to break $500 today?
GE Stock Forecast: General Electric Company (GE) flat as Morgan Stanley raises price target
NIO Stock Price and Forecast: NIO’s recent weakness tests key support level
PLTR Stock Price: Palantir Technologies Inc (PLTR) signs enterprise partnership with Rio Tinto (RIO)
NNDM Stock Price: Nano Dimension Ltd pauses for breath after recent rally
Gamestop (GME): Should I buy or should I sell Gamestop now?
BB Stock Price: BlackBerry Ltd shrugs defies bearish analysts, competes with Gamestop for attention
AMC Stock Price: AMC Entertainment Holdings Inc revives after CEO says bankruptcy is off the table
PLTR Stock Price: Palantir Technologies Inc dips as investors assess the Demo Day
SENS Stock Price: Senseonics Holdings Inc soars as investors await pending FDA approval
NNDM Stock Price: Nano Dimension Ltd skyrockets after a well-known investment firm takes a big bite
BNGO Stock Forecast: BioNano Genomics Inc soars by 28.37% after raising funds, bullish analysis
Gamestop (GME) Stock Price and Forecast: Why is it moving? The paradigm of a changing landscape
Gamestop (GME) Stock Price and Forecast: The hottest stock of 2021, why is it moving today?
F Stock Price: Ford Motor Company trades flat despite an upgrade from a prominent name
FCEL Stock Price: FuelCell Energy Inc gains after beating revenue estimates last quarter
CCIV stock price and news: Churchill Capital Corp IV soars on Lucid Motors SPAC merger hopes
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump
AMC Entertainment Holdings (AMC) stock price trends lower despite $100 million debt offering
TRXC Stock Price: Transenterix Inc takes investors for a ride after obtaining European approvals
MRNA Stock Forecast: Moderna Inc dips on concerns of allergic reactions to its COVID-19 vaccine
AZN Stock Forecast: AstraZeneca plc gains on urgent European demand for its COVID-19 vaccine
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high!
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital
NEXT Stock Price: NextDecade Corp gains again despite a further setback in its plans for Europe
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants
Signal Advance Inc (SIGL) Stock Price and Forecast: The WhatsApp (FB) killer, except it is not!
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off
NIO Stock Price Forecast: Carmaker weathers comments calling for a correction, a sign of strength
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector
BNGO Stock Forecast: BioNano Genomics Inc eyes all-time highs after cancer-related progress
TTCF Stock Price: Tattooed Chef Inc readies for a breakout as new vegan options hit mainstream
PLTR Stock Price: Palantir Technologies Inc holding onto high ground after analyst boost
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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, or 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. The author 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 Wednesday, February 3:
FXStreet New Equities homepage
European indices were mixed on Wednesday as the FTSE was down 0.3%, Dax up 0.5% and Euro Stoxx up 0.1%.
Overnight, Asian stocks closed higher with the Nikkei up 1% and the HangSeng up 0.2%
US markets were pointing towards a higher opening, the Nasdaq future was 0.6% higher, Dow flat and S&P futures up 0.3%.
EuroStoxx 50
Asian markets took their lead from the strong showing in US markets on Tuesday. Both Nikkei and Hang Seng closed higher despite Chinese and Japanese PMI readings being weak.
European and US markets were buoyed by prospects of US stimulus going ahead despite Republican opposition. Recent fears over the impact of the retail trading frenzy began to ease. Most retail interest shares fell heavily on Tuesday as the power of retail appeared to wane. Treasury Secretary Janet Yellen was set to meet with officials on Thursday to discuss recent developments.
In Italy bond markets were buoyed by the prospect of Mario Draghi becoming prime minister. Italian yields fell on the news as Draghi, a former ECB chief, was seen as a stabilising influence.
US ADP employment change for January was well ahead of economists estimates. 174k jobs added versus 49k estimate.
Earnings season continued to impress with Alphabet (GOOGL) announcing strong results with GOOGL up 7% in pre-market trading on Wednesday.
Amazon (AMZN) shares were up over 2% in the pre-market as investors' initial fears over news of CEO Jeff Bezos stepping down were tempered by the realisation he would still be heavily involved in Amazon (AMZN). Amazon reported record results after the close on Tuesday.
Spotify shares are lower in pre-market trading as revenue beat forecasts but a worse than expected loss hit the shares.
Alibaba (BABA) shares were sharply higher as ANT Group was reported to have reached a deal with Chinese regulators.
Morgan Stanley increased its price target for Alphabet (GOOGL), Barclays and Susquehanna raised Amazon (AMZN) and Raymond James increased their target for Alibaba (BABA).
Stocks covered at FXStreet:
AstraZeneca (AZN) Stock News: AstraZeneca vaccine reduces virus spread and delay between doses works
Gamestop (GME) Stock Price and Forecast: GME settles below $100, sheds 5.50% in post-market trading
Apple (AAPL) Stock Price Forecast: Apple Inc always worth taking a bite! Ex dividend on Feb 5
Should I buy GameStop (GME Stock) right now? Update: Fed's green light battles profit-takers
Gamestop (GME) Stock Price and Forecast: Are shares going to break $500 today?
GE Stock Forecast: General Electric Company (GE) flat as Morgan Stanley raises price target
NIO Stock Price and Forecast: NIO’s recent weakness tests key support level
PLTR Stock Price: Palantir Technologies Inc (PLTR) signs enterprise partnership with Rio Tinto (RIO)
NNDM Stock Price: Nano Dimension Ltd pauses for breath after recent rally
Gamestop (GME): Should I buy or should I sell Gamestop now?
BB Stock Price: BlackBerry Ltd shrugs defies bearish analysts, competes with Gamestop for attention
AMC Stock Price: AMC Entertainment Holdings Inc revives after CEO says bankruptcy is off the table
PLTR Stock Price: Palantir Technologies Inc dips as investors assess the Demo Day
SENS Stock Price: Senseonics Holdings Inc soars as investors await pending FDA approval
NNDM Stock Price: Nano Dimension Ltd skyrockets after a well-known investment firm takes a big bite
BNGO Stock Forecast: BioNano Genomics Inc soars by 28.37% after raising funds, bullish analysis
Gamestop (GME) Stock Price and Forecast: Why is it moving? The paradigm of a changing landscape
Gamestop (GME) Stock Price and Forecast: The hottest stock of 2021, why is it moving today?
F Stock Price: Ford Motor Company trades flat despite an upgrade from a prominent name
FCEL Stock Price: FuelCell Energy Inc gains after beating revenue estimates last quarter
CCIV stock price and news: Churchill Capital Corp IV soars on Lucid Motors SPAC merger hopes
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump
AMC Entertainment Holdings (AMC) stock price trends lower despite $100 million debt offering
TRXC Stock Price: Transenterix Inc takes investors for a ride after obtaining European approvals
MRNA Stock Forecast: Moderna Inc dips on concerns of allergic reactions to its COVID-19 vaccine
AZN Stock Forecast: AstraZeneca plc gains on urgent European demand for its COVID-19 vaccine
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high!
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital
NEXT Stock Price: NextDecade Corp gains again despite a further setback in its plans for Europe
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants
Signal Advance Inc (SIGL) Stock Price and Forecast: The WhatsApp (FB) killer, except it is not!
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off
NIO Stock Price Forecast: Carmaker weathers comments calling for a correction, a sign of strength
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector
BNGO Stock Forecast: BioNano Genomics Inc eyes all-time highs after cancer-related progress
TTCF Stock Price: Tattooed Chef Inc readies for a breakout as new vegan options hit mainstream
PLTR Stock Price: Palantir Technologies Inc holding onto high ground after analyst boost
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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, or 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. The author 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.