Here are five things you should know for Monday, January 25:
1. – The stock futures market is higher as investors evaluate the stimulus for conversation
Stock futures were rising modestly on Monday, as hopes remained high that the Biden White House would deliver another round of stimulus to the struggling U.S. economy and with investors preparing for a week laden with profits from technology.
Contracts linked to the Dow Jones Industrial Average rose 15 points, S&P 500 futures gained 13 points and Nasdaq futures rose 126 points.
President Joe Biden has been pushing for approval of a $ 1.9 trillion pandemic relief proposal and government officials have tried to dispel Republican concerns that the package was too expensive, Reuters reported.
Lawmakers on both sides agreed that getting the Covid-19 vaccine to Americans should be a priority, Reuters reported, but some have focused on a smaller plan to distribute the vaccine.
Republican Senator Susan Collins, for example, said that “it seems premature to consider a package of this size and scope”. She agreed that additional funding was needed to distribute the vaccine, but in a “more limited” bill, Reuters reported.
Stocks ended up mixed on Friday as a peak in coronavirus infections and the possibility of stricter blocks outweighed the expectations of more economic support from the Biden government. The Nasdaq closed at a record high of 0.09% to 13,543.
2. – This week’s calendar: technology gains, Federal Reserve meeting
Kimberly-Clark (KMB) – Get report will be reporting profits on Monday with companies like Tesla (TSLA) – Get report, Apple (AAPL) – Get report, Microsoft (MSFT) – Get report and Facebook (FB) – Get report reporting later this week.
Other heavyweights that reported this week include AT&T (T) – Get report, Johnson & Johnson (JNJ) – Get reportAdvanced, micro devices (OMG) – Get report, General electrical (GE) – Get report, Lockheed Martin (LMT) – Get report, Boeing (BA) – Get report, Starbucks (SBUX) – Get report, McDonalds (MCD) – Get report, Chevron (CVX) – Get report, Caterpillar (CAT) – Get report and Eli Lilly (LLY) – Get report.
Apple and Tesla are among the biggest gains the following week
Apple, Microsoft, Facebook, Advanced Micro Devices, Starbucks and Boeing are stakes in Jim Cramer Member Club PLUS Action Alerts. Want to be notified before Jim Cramer buys or sells the shares? Learn more now.
The US economic calendar on Monday is light, but at the end of the week there will be launches on consumer confidence, durable goods orders, unemployment insurance orders and Gross Domestic Product.
The Federal Reserve will meet Tuesday and Wednesday, with an announcement on interest rates expected at the end of the meeting. The central bank is not expected to change interest rates and has signaled that it will keep them close to zero until 2023.
3. – Mayor, Nancy Pelosi, buys Tesla options
Speaking of Tesla, Nancy Pelosi, president of the United States House of Representatives, and her husband Paul, a businessman and private investor, recently bought stock options in the electric vehicle company.
Pelosi on December 22 bought 25 call options from Tesla, with an exercise price of $ 500 and an expiration date of March 18, 2022, according to a government document. The transaction amounted from $ 500,001 to $ 1 million.
“Pelosi and her husband love taking long-term option positions,” wrote Davemanuel.com, who reported earlier in the transaction, noting that Tesla closed at $ 640.34 on the day of purchase, “which means the cost per contract it was probably in the $ 300- $ 330 range per contract, as Tesla’s options contain a very high amount of extrinsic value (time and volatility). “
Telsa was added to the S&P 500 shortly before Pelosi’s purchase.
The shares are likely to benefit most from the country’s “blue wave”, according to a recent note from Wedbush analyst Dan Ives.
“The Biden White House and the Blue Senate are a very optimistic political scenario and a potential ‘game changer’ for Tesla and the general (electric vehicle) sector in the United States, with a more green agenda now certainly. in the letters over the next few years, “wrote Ives, adding that” doubling “EV tax credits and other consumer incentives and government initiatives could help Tesla, as well as General Motors (GM) – Get report, Fisker (FSR) – Get report and other names.
Tesla was climbing 1.67% to $ 860.80 in Monday’s premarket. Baird analysts on Monday raised their Tesla target price from $ 488 to $ 728 per share, saying “the stock bias remains upward”.
4. – Korean hedge fund ‘Less optimistic’ on GameStop
Must Asset Management, the South Korean hedge fund that made a bold bet on GameStop (GME) – Get report nearly a year ago, the video game retailer’s inventory was less optimistic, Bloomberg reported.
Kim Doo-yong, CEO of Must Asset Management, said the high stock volatility and its more than 10-fold increase since his last interview with Bloomberg in March 2020 generated his less optimistic outlook.
“We became less optimistic and more neutral at GameStop,” Kim said in an interview with Bloomberg on Monday. “This action will continue to be very volatile and unpredictable in the short term.”
Must Asset Management, based in Seoul, had a 4.7% stake in GameStop in April 2020, according to Bloomberg data, making the Korean fund one of the company’s biggest investors.
Kim declined to comment to Bloomberg about the fund’s current stake in GameStop, which shot up more than 51% on Friday, to a closing record of $ 65.01. GameStop is a stock that became a favorite of retail investors during the coronavirus pandemic, particularly of day traders charged by Reddit, Bloomberg noted.
On Monday’s pre-market trading session, shares shot up another 49.22% to $ 97.01. The stock gained 245% in the year to date.
5. – Tom Brady will play in his 10th Super Bowl
Tom Brady is going to his 10th Super Bowl, and his first with Tampa Bay, after the Buccaneers defeated the Green Bay Packers, 31-26, on Sunday, in the NFC championship game.
Brady won six Super Bowl titles, all with the New England Patriots, the team he left last season.
Tom Brady’s Bucs season was somehow added to a legacy that barely had room to overcome
Brady’s Buccaneers will face the Kansas City Chiefs in the Super Bowl LV on February 7. The Chiefs defeated Buffalo Bills 38-24 in the AFC Championship.
The Super Bowl will be played at Raymond James Stadium in Tampa, Florida, which means the Buccaneers will be the first team to play a Super Bowl at their stadium.