US Stocks Today: Banks beat the street (JPM) (WFC) (C)
· European indices lower FTSE -0.74%, DAX -1%, Euro Stoxx -0.6%
· US stock futures lower Dow -0.52% S&P -0.41% Nasdaq -0.51%
· US Core PPI 1.2% versus 1.4% expected.
· US Retail sales down 0.7% in December versus flat expected. ·
· Dollar index heads for biggest weekly gain since November.
· Pfizer up, vaccine delivery target to 2 billion for 2021, temporarily halts Europe deliveries.
· JPMorgan (JPM) profits jump on investment banking. Wells Fargo (WFC) and Citi (C) also beat Wall Street estimates.
· Sterling at two month high versus Euro as UK GDP declines less than forecast.
· Tesla (TSLA) drone footage over Gigafactory Shanghai shows hundreds of cars ready for delivery but SAXO says being outpaced in Europe by Renault VW and Hyundai.
· JPM CEO Jamie Dimon expects a healthy economy by summer.
US stock market yesterday sector by sector
Utilities -0.38%
Real Estate +0.62%
Technology -0.88%
Energy +2.96%
Industrials +0.35%
Basic Materials -0.34%
Earnings
Premarket
· JPMorgan (JPM) earnings per share (EPS) $3.07 versus $2.62 expected.
· PNC Financial (PNC) EPS $3.26 versus $2.61 expected.
· Wells Fargo (WFC) EPS $0.64 versus $0.60 expected.
· Citigroup (C) EPS $2.08 versus $1.34 expected.
After Market
· It is Friday-go home early!
Premarket movers
DBV Tech (DBVT) +44% FDA news yesterday.
Blackberry (BB) +21% selling patents to Huawei.
Tilray (TLRY) +16% Cantor Fitzgerald ups price target.
Aphria (APHA) +14% posted higher revenue and updated on Tilray (TLRY) deal on Thursday.
Ideanomics (IDEX) +11% mobile energy division delivered 439 units in December Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector (fxstreet.com)
3D Systems (DDD) -10% JPMorgan downgrade.
ProSight Global (PROS) -9% on TowerBrook deal
GrafTech International -8% announced secondary offering on Thursday
Initial Public Offerings Today (IPO)
Versus Systems (VS)
Healthcare Capital Corp (HCCCU)
Thoma Bravo Advantage (TBA)
Playtika Holding Corp (PLTK)
Authentic Equity Acquisition Corp (AEACU)
Hennessy Capital Investment Corp. V (HCICU)
OCA Acquisition Corp (OCAXU)
Driven Brands Holdings Inc (DRVN)
Edify Acquisition Corp (EACPU)
Rotor Acquisition Corp. (ROT.U)
GROUP NINE ACQUISITION CORP (GNACU)
Class Acceleration Corp 9 (CLAS.U)
26 Capital Acquisition Corp (ADERU)
Stocks covered this week at 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.
