Head of Equities Americas at UBS Global Wealth Management David Lefkowitz on his outlook for the market.
The shares flirted with records on Wednesday, but fell short when the House of Representatives prepared a second impeachment of President Trump.
The Dow Jones Industrial Average fell 8 points, or 0.03%, while the S&P 500 advanced 0.23% and the Nasdaq Composite added 0.43%.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 31060.47 | -8.22 | -0.03% |
| SP500 | S&P 500 | 3809.84 | +8.65 | + 0.23% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13128.951098 | +56.52 | + 0.43% |
The mixed session took place while Democrats in the U.S. House of Representatives were preparing their case for a second impeachment of President Trump, which was expected to be approved mainly by party lines.
A Senate trial will not begin until at least January 19, the day before President-elect Joe Biden takes office, when the upper house meets, the office of Republican majority leader Mitch McConnell told the Democratic minority leader. Chuck Schumer, according to The Washington Post. McConnell said in a statement that he has not decided how he will vote.
In shares, Intel CEO Bob Swan will step down on February 15 and be replaced by VMWare Inc. executive Pat Gelsinger. Intel also said it expects fourth quarter earnings and revenues to exceed previously released guidelines, helping to send the shares to their best day since April.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| INTC | INTEL CORPORATION | 56.95 | +3.71 | + 6.97% |
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| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 157.91 | -0.16 | -0.10% |
Elsewhere, Johnson & Johnson is on track to submit its candidate vaccine COVID-19 for approval by the European Union in February, an EU lawmaker said.
Elsewhere, Target Corp. reported that same-store sales increased 17.2% year-on-year in November and December, with online sales more than doubling. The categories of domestic products and hardlines grew in the range of 20%.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| TGT | TARGET CORP. | 196.82 | -2.28 | -1.15% |
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GameStop Corp. shares they shot up 94% before retreating amid what appeared to be a short coverage rally. The share sold in the shares reached 138% of the outstanding shares.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 31.40 | +11.45 | + 57.39% |
In business, Visa Inc. and financial technology company Plaid canceled their $ 5.3 billion merger after the United States government filed an antitrust lawsuit to prevent the transaction.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| V | VISA INC. | 209.35 | +0.49 | + 0.23% |
Meanwhile, Exxon Mobil Corp. was promoted to “buy” by JP Morgan, who said that increased pressure from investors and plans to reduce capital spending are among the factors that will produce “more consistent results”.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORPORATION | 48.43 | +0.55 | + 1.16% |
| CVX | CHEVRON CORP. | 93.24 | -0.10 | -0.11% |
Looking at commodities, West Texas Intermediate crude dropped 30 cents to $ 52.91 a barrel and gold rose $ 10.70 to $ 1,853.60 an ounce.
In economic data, mortgage refinancing increased by 20% from the previous week, as Americans sought to lock in near-record rates.
In addition, the consumer price index rose 0.4% in December compared to the previous month, in line with expectations and up from 0.2% in the previous month. Prices rose 1.4% per year.
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European markets have changed little, with France’s CAC 40 up 0.21% and Britain’s FTSE 225 down 0.13%.
Asian markets ended up mixed, with Nikkei 225 from Japan advancing 1.04%, while Hong Kong’s Hang Seng index and China’s Shanghai Composite index fell 0.15% and 0.27%, respectively.