Axios Market Editor Dion Rabuen gives an idea of the winners and losers in Biden Market.
US stock futures traded lower the day after the S&P 500 and Nasdaq closed.
Major futures indices suggest a 0.6% drop when the opening bell rings.
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Asian stock markets retreated on Friday after the resurgence of coronavirus infections in China and an increase in cases in Southeast Asia.
The Nikkei 225 in Tokyo sank 0.4%, Hang Seng in Hong Kong fell 1
In Europe, London’s FTSE was down 0.4%, Germany’s DAX was down 0.5% and France’s CAC was down 0.6%.
The largest number in the United States that retailers will monitor will be existing home sales for December. The National Brokers’ Association was expected to say that sales of previously owned homes fell 2% on a monthly basis to a seasonally adjusted annual rate of 6.55 million units from 6.69 million in November.
THE HOUSING MARKET REMAINS TIGHTLY AS DOMESTIC MARKETS LEAVE
The first week of the winning season ends on Friday morning with three financial names: Ally Financial, Regions Financial and Huntington Bancshares.
Other companies that will report will be energy equipment and services giant Schlumberger and railroad company Kansas City Southern.
| Ticker | Security | 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 below 0.1% at 3,853.07, and the Dow Jones Industrial Average lost less than 0.1% to 31,176.01.
The Nasdaq technology composite rose 0.6% to 13,530.91 after traders offered shares in Big Tech stocks, including Apple, Amazon and Facebook. This helped to overcome losses in energy, banking and other stocks.
Stocks rose with optimism, and the proliferation of vaccines developed by American, European and Chinese pharmaceutical companies will allow economies to return to normal.
CORONAVIRUS RELIEF PACKAGE FOR GOOD $ 1.9T: GOOD STEP: ZANDI ECONOMIC BRAND
Markets were also boosted by the inauguration of President Biden, who offered a $ 1.9 trillion package of economic aid, including $ 1,400 in cash for most Americans.
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The benchmark in the US earned 87 cents to 52.26 dollars per barrel in e-commerce on the New York Mercantile Exchange. The contract fell 11 cents on Thursday to $ 53.13. Crude Brent, the price standard for international oil, 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.
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