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.
-637481317992054335.png)
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).
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)
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.
Premium
You have reached your limit of 3 free articles for this month.
Start your subscription and get access to all our original articles.
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.
