Here are five things you should know for Tuesday, January 26:
1. – The Concern Stimulus Package may be Delayed in the Future of Actions
Stock futures fell on Tuesday as market sentiment was affected by the possibility of a US coronavirus relief package being delayed.
Contracts linked to the Dow Jones Industrial Average fell 29 points, S&P 500 futures fell 9 points and Nasdaq futures fell 46 points, before earnings reports from some of the biggest technology companies.
Senate majority leader Chuck Schumer said on Monday that an aid package was unlikely before mid-March. This is when the federal unemployment insurance authorized by the last $ 900 billion package will expire.
President Joe Biden said he was open to negotiations on his proposed $ 1.9 trillion plan to send $ 1,400 to most Americans and provide other support for the economy, including funds for vaccine distribution.
A bipartisan group of senators has already expressed opposition to the size of Biden’s plan.
The coronavirus pandemic, however, has killed more than 421,000 in the United States and concerns have grown over the rugged vaccine launch in the country. Biden said he anticipates that vaccines will be available to anyone in the United States in the spring, but to meet that projection, vaccine manufacturers will have to dramatically increase production.
The shares ended mixed on Monday amid doubts about whether the Biden White House will be able to deliver another round of stimulus. The S&P 500 and Nasdaq, however, managed to close at record highs.
2. – Tuesday’s Calendar: Microsoft and AMD Profit, Federal Reserve Meeting
Earnings reports expected by Microsoft on Tuesday (MSFT) – Get reportAdvanced, micro devices (OMG) – Get report, Starbucks (SBUX) – Get report, Verizon (VZ) – Get report, Johnson & Johnson (JNJ) – Get report, General electrical (GE) – Get report, Lockheed Martin (LMT) – Get report, American Express (AXP) – Get report, 3M (MMM) – Get report, Xilinx (XLNX) – Get report, Raytheon Technologies (RTX) – Get report and Texas Instruments (TXN) – Get report.
General Electric earnings prediction: Here’s what the charts say
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The US economic calendar on Tuesday includes the first day of a two-day Federal Reserve meeting. The central bank is not expected to change interest rates and has signaled that it will keep them close to zero until 2023.
Mark Heppenstall, chief investment officer at Penn Mutual Asset Management, said the central bank is likely to reiterate its “commitment to prolonged monetary accommodation” at the meeting.
“The uncertainty surrounding the short-term course of the pandemic and signs of weakening labor markets suggest that recent talks about reducing consumption by Fed officials are still premature,” added Heppenstall, referring to when the Fed could start to reduce asset purchases.
The calendar also includes the Case-Shiller House Price Index for November at 9 am ET and consumer confidence for January at 10 am
3. – Leon Black will step down as CEO of Private-Equity Giant Apollo
Leon Black, the founder and CEO of private equity giant Apollo Global Management (APO) – Get report, will step down as chief executive after it was revealed that he made larger-than-expected payments to Jeffrey Epstein, the wretched financier.
Black paid Epstein $ 158 million in fees for estate and fiduciary tax planning in the five years to 2017, far more than was previously known, according to a report by the law firm Dechert.
Dechert’s review found no evidence that Black was involved in the criminal activities of the late Epstein, who was indicted in 2019 on federal sex trafficking charges involving underage girls. Epstein committed suicide in prison while awaiting child sex charges.
Apollo also never hired Epstein for any services, the report concluded.
Black wrote in a letter to investors in the Apollo fund that he would cede the role of CEO to co-founder Marc Rowan on or before his 70th birthday on July 31, while maintaining the role of chairman of the board.
The Wall Street Journal was the first to report the contents of the report and the letter.
Apollo Global shares rose 3.86% to $ 47.65 on Monday’s trading session.
4. – BlackBerry shares rise again
Blackberry (BB) – Get report was rising more than 17% in pre-market trading on Tuesday, after more than 28% of the stock gained in the previous session, as it received a boost from retail traders and was heavily mentioned in online forums like Reddit.
BlackBerry, a software and security services company, said in a statement that it was unaware of the reasons for the move.
BlackBerry shares were up 17.36% to $ 21.16 in Tuesday’s pre-market. The stock has gained 172% so far in 2021.
RBC analysts cut the shares for low performance in the sector’s performance, citing the assessment and saying that there was no change in the company’s fundamental outlook. Analyst Paul Treiber kept his target price at $ 7.50.
The BlackBerry has become a favorite on the Reddit message board, just like GameStop (GME) – Get report and express (EXPR) – Get report.
What’s happening with GameStop’s stock? Jim Cramer explains
5. – Apple’s leading hardware engineer switching to ‘new project’
Apple (AAPL) – Get report said that its main hardware engineer, Dan Riccio, was moving to a new project and will be replaced by John Ternus, currently vice president of hardware engineering.
Riccio has been with Apple since 1998 and has worked on most of the company’s main products over that time, from the first iMac computers to the latest 5G phones.
Apple did not specify which project Riccio will lead. But recent speculation has focused on the company’s efforts to develop a next-generation virtual reality headset, or augmented reality glasses.
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