What You Need To Know
Market Update
US futures are down as investors weigh bank earnings and Biden’s stimulus plan. US retail sales fell 0.7% in December vs an expected flat reading.
International Markets
European markets are trading lower as recovery concerns outweighs Biden’s stimulus plan. Asian markets are mixed as shares of Xiaomi shares plunge in Hong Kong.
Commodities
Gold and silver are down slightly. Oil is down as Chinese lockdowns and US unemployment data tempers demand outlook
Crypto
Bitcoin is currently down from the highs and is currently trading around $37,563.
Interesting News
Playtika (PLTK) will begin trading on the Nasdaq today priced at $27 per share higher than its target range of $22-$24. Ford last week has to shut down a plant because there was not enough computer chips for cars. There is a global semiconductor shortage. Girl Scouts have partnered with Grubhub to deliver their Girl Scout cookies this year. Delta expects to return to profitability by this Summer.
Biggest After Market Movers
PNC Financial (PNC) beat earnings estimates; however, it is currently down 1.4% in premarket trading. Zoom (ZM) is up after Bernstein named Zoom a top stock pick for 2021.
Chart of the Day
Tesla (TSLA) one hour ascending triangle (Charts by TradingView)
