US Stocks Today: More gains in sight as inflation concerns ease and Coca Cola fizzes
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UPGRADEHere is what you ended to know on Wednesday, February 10:
Stock markets remain near record highs set earlier in the week on Monday as the dollar continues to falter, Bitcoin drops back, Oil remains bid and US yields remain steady.
European markets are calm with most indices flat. Both FTSE and EuroStoxx are down 0.01% with Germany’s Dax showing a slight gain of 0.01%.
Asian markets continued their strong trend with the Nikkei closing 0.2% higher and Hang Seng up 1.9%.
US futures are all currently higher. The Nasdaq and Dow are both up 0.3% with S&P futures gaining 0.2%.
Dow Jones
Asian stocks remained strong overnight as Chinese markets were buoyed by rising factory gate prices after a year of declines. Chinese new bank loans hit a new high in January. Japanese shares were calmer but still helped by positive results from Toyota and Honda.
Europen stocks were calm on Wednesday with most indices flat. Corporate earnings continued to flow with SocGen reporting good numbers but global shipping company Maersk gave a cautious outlook for 2021.
US futures turned higher after the release of US CPI. CPI came in mostly along expected lines, calming investor's fears over inflation.
Democrats in the House unveiled proposals for $1,400 direct checks as part of the stimulus plan.
Federal Reserve Chairman Powel speaks at 2 pm EST on Wednesday.
Corporate earnings streamed in with most companies meeting or beating analyst's expectations.
Coca-Cola (KO) beat expectations and talked up the macro-economic outlook. Coke is a macro indicator given its homogenous use and the company said it sees itself returning to growth levels of 2019 before the end of 2021, according to CNBC.
General Motors (GM) also reported strong numbers but disappointed investors with its outlook. GM gave lower than expected guidance, blaming the global shortage of semiconductors.
Twitter shares jumped as Daily average users rose strongly despite losing numbers after the platform removed former President Trump.
Under Armour (UA) surprisingly beat expectations with strong sales over the 2020 holiday period.
Ups and Downs
KeyBanc, Morgan Stanley, and Rosenblatt all increased price targets for Twitter (TWTR).
UBS upped Virgin Galactic (SPCE) to a $52 price target but downgraded the stock to neutral.
HSBC initiated coverage on Airbnb (ARNB) as a buy.
Credit Suisse announced their top picks for 2021. Among the brokers picks are Chipotle (CMG), Hershey (HSY) and Caterpillar (CAT).
Stocks covered at FXStreet:
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 ended to know on Wednesday, February 10:
Stock markets remain near record highs set earlier in the week on Monday as the dollar continues to falter, Bitcoin drops back, Oil remains bid and US yields remain steady.
European markets are calm with most indices flat. Both FTSE and EuroStoxx are down 0.01% with Germany’s Dax showing a slight gain of 0.01%.
Asian markets continued their strong trend with the Nikkei closing 0.2% higher and Hang Seng up 1.9%.
US futures are all currently higher. The Nasdaq and Dow are both up 0.3% with S&P futures gaining 0.2%.
Dow Jones
Asian stocks remained strong overnight as Chinese markets were buoyed by rising factory gate prices after a year of declines. Chinese new bank loans hit a new high in January. Japanese shares were calmer but still helped by positive results from Toyota and Honda.
Europen stocks were calm on Wednesday with most indices flat. Corporate earnings continued to flow with SocGen reporting good numbers but global shipping company Maersk gave a cautious outlook for 2021.
US futures turned higher after the release of US CPI. CPI came in mostly along expected lines, calming investor's fears over inflation.
Democrats in the House unveiled proposals for $1,400 direct checks as part of the stimulus plan.
Federal Reserve Chairman Powel speaks at 2 pm EST on Wednesday.
Corporate earnings streamed in with most companies meeting or beating analyst's expectations.
Coca-Cola (KO) beat expectations and talked up the macro-economic outlook. Coke is a macro indicator given its homogenous use and the company said it sees itself returning to growth levels of 2019 before the end of 2021, according to CNBC.
General Motors (GM) also reported strong numbers but disappointed investors with its outlook. GM gave lower than expected guidance, blaming the global shortage of semiconductors.
Twitter shares jumped as Daily average users rose strongly despite losing numbers after the platform removed former President Trump.
Under Armour (UA) surprisingly beat expectations with strong sales over the 2020 holiday period.
Ups and Downs
KeyBanc, Morgan Stanley, and Rosenblatt all increased price targets for Twitter (TWTR).
UBS upped Virgin Galactic (SPCE) to a $52 price target but downgraded the stock to neutral.
HSBC initiated coverage on Airbnb (ARNB) as a buy.
Credit Suisse announced their top picks for 2021. Among the brokers picks are Chipotle (CMG), Hershey (HSY) and Caterpillar (CAT).
Stocks covered at FXStreet:
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.