US Stock Market Today: Markets head for a clean sweep of gains on the week
Here is what you need to know for Friday, February 5:
European indices were all higher except for the FTSE bucking the positive trend. The Dax was up 0.2%, EuroStoxx up 0.6% but the FTSE was down 0.1%.
Overnight Asian stocks were stronger with the Nikkei up 1.54% and the Hang Seng up 0.6%.
US markets were heading for a stronger opening with Nasdaq, Dow, and S&P futures all higher. The Nasdaq is 0.4% higher, Dow 0.4% higher and S&P futures showing a 0.4% gain also.
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EuroStoxx
Asian markets were stronger as healthy retail buying helped Hong Kong stocks higher. Japanese shares were boosted by strong earnings from Mazda, which helped auto shares. Worries over US-China tensions resurfaced as a US warship sailed through the Taiwan Strait.
European and US markets looked set for further gains on Friday as US indices looked for a clean sweep of gains to round out the week. German factory orders fell 1.9% in December while French current account data was also weak.
Shares in construction stocks were strong after Vinci reported strong results. Vinci is Europes biggest construction firm.
US Employment was largely in line with expectations at 49k versus 50k expected.
The US Senate passed a budget resolution bill on Friday further aiding President Biden's $1.9 trillion stimulus package.
JNJ subsidiary Janssen has applied for FDA approval for its Covid-19 vaccine.
Ford (F) reported strong earnings beating analyst expectations.
Peloton (PTON) was set for a rise higher as the company reported strong earnings.
Pinterest (PINS) also beat expectations with a strong jump of nearly 40% of active users.
Despite strong results, Raymond James downgraded Peloton (PTON), the broker upped its target for Chubb (CB). Citi upgraded Foot Locker (FL) and KeyBanc boosted its price target for Activision Blizzard (ATVI).
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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.
