What You Need To Know
Market Update
US futures are up as investors await the unveiling of Biden’s stimulus plan. US jobless claims were 965,000 vs 800,000 expected. The economy continues to show signs that is recovering amid the surge in coronavirus cases and deaths. This is the highest claim total since August. J&J’s one shot vaccine is effective and safe according to its study.
International Markets
European and Asian markets are mixed amid US stimulus news and positive China trade data.
Commodities
Gold and silver are down slightly before the release of Biden’s stimulus plan. Oil is down 0.5% amid virus and demand fears.
Crypto
Bitcoin is currently pushing higher and is currently trading around $38,560.
Interesting News
Petco and Poshmark are both expected to IPO today. Petco is priced around $18 and Poshmark around $42. New York City renters owe over $1 billion in unpaid rent. Affirm made its IPO debut yesterday and begun trading at $90, 80% than its earlier pricing.
Biggest After Market Movers
GameStop (GME) is up 21% in premarket trading after ending yesterday up 57%. Tesla (TSLA) is down around 1% after they announced 158,000 vehicles were recalled. Nordstrom is down 4% after holiday sales were down 22% from last year.
Chart of the Day
Disney (DIS) looks ready to go higher (Charts by TradingView)
