Axios market editor Dion Rabouin provides insight into the winners and losers in the ‘Biden market’.
U.S. stock futures traded lower a day after the S&P 500 and Nasdaq closed records.
The main future indices suggested a 0.6% drop when the opening bell rang.
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Asian stock markets retreated on Friday, after a resurgence of coronavirus infections in China and an increase in cases in Southeast Asia.
The Nikkei 225 in Tokyo fell 0.4%, the Hang Seng in Hong Kong fell 1.6% and the Shanghai Composite Index of China fell 0.4%.
In Europe, London’s FTSE fell 0.4%, Germany’s DAX fell 0.5% and France’s CAC fell 0.6%.
The large number that traders will be seeing in the US will be sales of existing homes in December. The National Association of Realtors should say that sales of old homes fell 2% month-on-month to a seasonally adjusted annual rate of 6.55 million units, from 6.69 million in November.
THE HOUSING MARKET IS SAFE AS OWNERS ARE PLACED
The first week of the earnings season ends on Friday morning with a trio of financial name reports: Ally Financial, Regions Financial and Huntington Bancshares.
Other companies that will report will be energy equipment and services giant Schlumberger and the Kansas City Southern railroad.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| I: DJI | DOW JONES AVERAGE | 31176.01 | -12.37 | -0.04% |
| SP500 | S&P 500 | 3853.07 | +1.22 | + 0.03% |
| I: COMP | NASDAQ COMPOSITE INDEX | 13530.914939 | +73.67 | + 0.55% |
On Thursday, the S&P 500 benchmark ended at less than 0.1% at 3,853.07 and the Dow Jones Industrial Average lost less than 0.1% to 31,176.01.
The composition of Nasdaq with high technology rose 0.6%, to 13,530.91, after traders increased their shares in shares of Big Tech, including Apple, Amazon and Facebook. This helped to offset losses in energy, banks and other stocks.
Stocks increased with optimism that the launch of vaccines developed by pharmaceutical companies in the US, Europe and China would allow economies to return to normal.
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Markets were also encouraged by the inauguration of President Biden, who proposed a $ 1.9 trillion economic aid package, including cash payments of $ 1,400 for most Americans.
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US reference oil lost 87 cents to $ 52.26 a barrel in e-commerce on the New York Mercantile Exchange. The contract fell 11 cents on Thursday to $ 53.13. Brent oil, the international oil price standard, fell 81 cents to $ 55.29 a barrel in London. It rose 2 cents in the previous session to $ 56.10 a barrel.
The Associated Press contributed to this report.