US Stock Market Today: It’s still Gamestop (GME) day, again, again!
Here is what you need to know on Thursday, January 28 2021:
European indices were mixed on Thursday, with the FTSE up 0.1%, Euro Stoxx up 0.1% but the Dax bucked the trend being down nearly 1%.
Overnight, Asian stocks closed lower with the Nikkei down 1.5% and the Hang Seng losing 2.5%.
US markets were pointing towards a flat open, with Dow futures up 0.3%, S&P up 0.1% and Nasdaq futures down 0.5%.
See also: Brokers’ restrictions on GME and AMC set a dangerous precedent – FXStreet Editorial
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Asian markets were weak on the back of overnight losses on Wall Street and profit-taking from gains seen in January so far.
European markets were mixed with worries over vaccine supplies continuing. The EU and AstraZeneca (AZN) failed to reach any agreement after a conference call late on Wednesday. Investors were also worried about longer-than-expected lockdowns, which had hit travel and airline stocks on Wednesday. American Airlines (AAL) helped to turn sentiment though, as it announced results and AAL surged 40% in pre-market trading. IAG and Lufthansa took note and bounced nearly 8%.
Inflation in Germany made an unexpected return with CPI, coming at a higher than expected +0.8% for January and +1% Year-on-Year.
US stock futures were mixed as the Nasdaq edged lower on the back of Apple (AAPL) sliding 2% in the pre- market (despite posting strong results) and Tesla (TSLA) releasing disappointing earnings on Wednesday after the market closed. American Airlines (AAL) helped S&P and Dow futures as the company's results were better than expected. AAL shares moved 40% higher in the pre-market.
US GDP came in slightly below expectations, with a 4% gain versus 4.3% expected.
Gamestop (GME) remained the number one stock as GME broke $500 in Thursday's pre-market. KeyBanc increased its price target for Facebook (FB), while RBC increased its price target for Tesla (TSLA) from $700 to $725 and Morgan Stanley upped its Apple (AAPL) price target to $164.
Stocks covered at FXStreet:
Gamestop (GME) Stock Price and Forecast: Are shares going to break $500 today? (fxstreet.com)
NIO Stock Price and Forecast: NIO’s recent weakness tests key support level (fxstreet.com)
NNDM Stock Price: Nano Dimension Ltd pauses for breath after recent rally (fxstreet.com)
Gamestop (GME): Should I buy or should I sell Gamestop now? (fxstreet.com)
PLTR Stock Price: Palantir Technologies Inc dips as investors assess the Demo Day (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)
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Author
Ivan Brian
FXStreet
Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.
