US Stock Market Today: Power to the people – Gamestop powers on!


Here is what you need to know on Tuesday, January 26 2021:

Indices were strong on Tuesday with the FTSE up 0.4%, Euro Stoxx up 1% and the Dax up nearly 1.5%. 

Overnight, Asian stocks closed lower having had a strong performance on Monday. The Nikkei was down 1% and the Hang Seng down 2.5%. 

US markets were pointing towards a higher open with Dow futures up 0.3%, S&P up 0.2% and Nasdaq futures flat. 

EUROSTOXX 50 chart

EuroStoxx 50

Asian markets were lower on Tuesday giving up most of Monday's gains. Asian markets worried over possible delays to the US stimulus plan with Republicans reportedly not happy with the size and other elements of the proposed $1.9 trillion stimulus plan. 

Asian markets also struggled on news of vaccine delays in Europe and news that Merck was ceasing development of its own vaccine. 

European markets were stronger by contrast as investors shrugged off worries over further travel restrictions and stricter lockdowns. The financial sector was strong as UBS followed the lead set by US banks last week in posting strong results.

Italian PM Conte is due to resign on Tuesday and hopes were high that he would return swiftly with a broader backing in parliament. 

US Stock futures were pointing towards a positive open. Results from Johnson & Johnson (JNJ), General Electric (GE), American Express (AMEX) and 3M (MMM) were all strong.

Shares in Gamestop (GME) continued higher with shares in GME trading up 17% in pre-market trade. Gamestop continues to be THE stock of 2021.

Shares in ETSY jumped after Elon Musk tweeted “I kinda love Etsy”!

Pharmaceutical stocks Regeneron (REGN) and Eli Lilly (LLY) both reported positive news for their antibody treatments against Covid-19. Both LLY and REGN were positive in Tuesday's pre-market trading. 

Apple (AAPL) announced somewhat cryptically that its engineering chief is to leave to start an unnamed project for Apple (AAPL). Apple releases earnings on Wednesday. 

 

Stocks covered at FXStreet:

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

BNGO Stock Forecast: BioNano Genomics Inc set to crash after offering shares at 35% below close price

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

Facebook (FB) Stock Price and Forecast: WhatsApp signals some problems, FB and GOOGL face antitrust lawsuit

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

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, 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.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or 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. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD pierces 1.1655 resistance as firmer sentiment weighs on USD

EUR/USD refreshes intraday high, extends Friday’s recovery moves. Downbeat US Treasury yields, mixed sentiment weigh on US dollar. ECB, US GDP in focus but China headlines, Fed tapering concerns add to the watcher’s list.

EUR/USD News

GBP/USD: Buyers defends 1.3750 below 100-day SMA

GBP/USD edges higher on the first trading day of the week in the Asian trading hours. The pair faces strong resistance near 1.3850 below the bearish sloping line. MACD signals sideways momentum with the underlying neutral sentiment.

GBP/USD News

EUR/USD pierces 1.1655 resistance as firmer sentiment weighs on USD

EUR/USD refreshes intraday high, extends Friday’s recovery moves. Downbeat US Treasury yields, mixed sentiment weigh on US dollar. ECB, US GDP in focus but China headlines, Fed tapering concerns add to the watcher’s list.

EUR/USD News

SafeMoon price presents a buy opportunity before 35% gains

SafeMoon price coils up under a crucial resistance level at $0.00000239. A sudden burst in buying pressure that shatters this barrier can kick-start a 35% ascent. In some cases, SAFEMOON could pull back to $0.00000198 or $0.00000175 support floors.

Read more

Wall Street Week Ahead: Huge week of earnings ahead AAPL, MSFT, GOOGL, AMZN, FB

Equity markets remain elevated with more all-time highs on Thursday for the broader S&P 500 while the Dow registered new highs on Wednesday and Thursday. So far late into Friday's session, the markets are seeing some profit-taking to end a solid week.

Read more

Forex MAJORS

Cryptocurrencies

Signatures