Company / Analytics

Analytics, 23 January 2021

Week 3 in Brief

  • U.S. stocks finished mixed after posting fresh record highs earlier in the week; the Nasdaq logged record high, but the Dow and the S&P 500 ended lower as investors weighed the outlook for President Joe Biden’s proposed fiscal stimulus and grew concerned amid reports that the new coronavirus variant may be deadlier.
  • The acceleration of new coronavirus cases and lockdowns around the globe undermined support for equities. The UK government announced the country’s current lockdowns could last into the summer.
  • In economic data, the IHSMarkit purchasing managers surveys for U.S. service and manufacturing sectors for January posted good results, compared with December, suggesting the U.S. economy is getting off to a solid start in 2021.
  • In politics, investors remained concerned that impeachment proceedings against former President Trump may delay progress on Biden’s fiscal stimulus bill.
  • Investors digested quarterly results from several companies, including Netflix & IntelCorp. Disney IBM and GameStop stocks were both in focus on Friday.
  • European stocks ended lower on Friday, closing out another lackluster week as business activity in the eurozone shrank in January after stringent lockdowns to control the coronavirus pandemic shuttered businesses.
  • In Asia, Alibaba’s Hong Kong-listed shares jumped after founder JackMa appeared in public for the first time in months.
  • In commodities, Oil futures fell while gold futures retreated as the USD weakened against a basket of G20 currencies, and Treasury yields fell slightly.

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