LevelInfo – USA – Stocks of Biden’s stimulus plan hopes raised

This copy is for your personal, non-commercial use only. You can order ready-to-present copies for distribution to your colleagues, clients or customers at http: // www jreprintscom

Stocks rose Thursday ahead of the speeches by President-Elect Joe Biden and Federal Reserve Chairman Jerome Powell Biden to reveal his economic goals and plans for more US Powell is unlikely to reiterate the Fed won’t take its foot off the accelerator anytime soon. The market has only looked to double the tailwind of massive fiscal and monetary support for months, and Thursday’s remarks should keep sentiment bullish

The

Dow Jones industry average

rose 112 points, or 04%, on Thursday afternoon while the

S&P 500

was up to 02% and the

Nasdaq Composite

0 added 4% The little cap

Russell 2000

jumped 22% Cyclical and economically sensitive sectors of the market outperformed growth and defensive areas

The gains came after CNN reported that President-elect Joe Biden, who is due to speak in Wilmington, Del, will outline a $ 2 trillion proposal that will include more direct payments to American families and significant state and local funding will The return on the 10-year US. The state treasury rose to around 110% on Thursday

After the unemployment claims were published on Thursday, the need for more incentives was evident around 965000 Americans applied for first-time unemployment insurance, far more than the forecast for 812000

“In the markets, the higher the price of the offer, the better for stocks and the USAS Dollar Recently, there has been a paradigm shift in dollar dynamics with promises of astronomical spending now boosting the reserve currency as rosier growth prospects overshadow deficit concerns if all spending weighs on the economy, the Fed could be earlier in its generous Rule the QE (Quantitative Easing) program, ”said Marios Hadjikyriacos, Investment Analyst at XM

Fed Chairman Powell participates in an online conversation with Markus Brunnermeier, director of the Bendheim Center for Finance in Princeton. Topics include the central bank’s new policy framework and its response to the crisis

The

Nikkei 225

and

Hang Seng

every rose 09% on Thursday and the

Stoxx Europe 600

0 added 7%

Shares in Chinese technology companies

Alibaba

(BABA),

Baidu

(BIDU) and

Tencent

(TCEHY) won 41%, 72% and 42% The US The Treasury Department reportedly blocked an attempt by the Pentagon to force American investors to divest Chinese internet giants

Space company

Virgo Galactic

(Ticker: SPCE) jumped 139% after ARK Investment Management petitioned the Securities and Exchange Commission to set up an exchange-traded space exploration fund. ARK has failed to determine which companies it would hold in the fund

Delta Airlines

(DAL) stock rose 33% after reporting revenue of $ 3.5 billion, missing expectations for $ 3.5 billion, and an adjusted loss per share of $ 2.553, which was greater than projections for $ 2.50 loss

BlackRock

(BLK) was down 3.6% after the wealth management giant posted fourth-quarter earnings of $ 1002, beating forecasts for $ 919, on revenue of $ 4.5 billion, against estimates of $ 4.5 billion

Intel

(INTC) rose 42% after upgrading at least four different companies following the announcement of a CEO change on Wednesday

Marathon oil

(MRO) jumped 77% after Truist upgraded the stock to buy from hold

Nordstrom

(JWN) fell 12% after Telsey Advisory Group downgraded the stock from Outperform to Market Perform

FuelCell Energy

(FCEL) shares fell 103% after moving from neutral at JPMorgan to underweight

Beyond meat

(BYND) shares jumped 108% after Yum Brands’ Taco Bell announced it was testing a plant-based protein from the company

Yum

Share (YUM) rose 2%

Stocks rose Thursday ahead of the speeches by President-elect Joe Biden and Federal Reserve Chairman Jerome Powell

This copy is for your personal, non-commercial use only. Distribution and use of this material is subject to our Subscriber Agreement and copyright laws For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1- 800-843-0008 or visit wwwdjreprintscom

Jerome Powell, Federal Reserve System, Chairman of the United States Federal Reserve, Joe Biden, Inflation