Big Earnings Day! | January 20

by Luna Fuller
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Good Evening!

The DJIA rose 0.83%
The S&P 500 was up 1.36%
The Nasdaq Composite added 1.97%

All three hit all-time highs as quarterly earnings led the market today.

General Market Review

Stimulus

Investors still remain hopeful for the $1.9 trillion stimulus bill, in hopes that it will bolster an economic recovery. However, some senators are not completely in favor of another stimulus.

Financials

Morgan Stanley beat expectations for fourth quarter earnings. Bank of New York Mellon fell 7% today after reporting fourth-quarter profit that fell more than forecasts.

Tech

Netflix added around 17% after positive guidance and bullish remarks after the earnings release. DraftKings gained over 3% after the stock was upgraded to an overweight rating on high expectations for quarterly earnings.

Earnings

Alcoa’s fourth quarter earnings beat EPS estimates by $0.19 and revenue by $20 million. They reported earnings of $0.26 and revenue of $2.39 billion. The company is projected to ship a total of around 50 million metric tons of bauxite and 14 million metric tons of alumina in 2021. AA is down about 3% after hours.

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