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.
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.
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