US Stock Market Today: It's Gamestop (GME) day, again!
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CLAIM OFFERHere is what you need to know on Wednesday, January 27 2021:
European indices were weak on Wednesday, with the FTSE down 1.4%, Euro Stoxx down 2% and the Dax down nearly 1.9%.
Overnight, Asian stocks closed mixed with the Nikkei up 0.3% and the Hang Seng down 0.3%.
US markets were pointing towards a weaker open with Dow futures down 1%, S&P down 1.2% and Nasdaq futures down 0.9%.
EuroStoxx 50
Asian markets were mixed on Wednesday, with the Nikkei finishing up 0.3% The IMF raised its forecast for global growth, which is seen as helping the very open Japanese economy. The broader Japanese index the Topix gained 0.65%, but the Hang Seng closed lower.
European markets were broadly flat in early Wednesday trade but turned lower as the day progressed. French consumer confidence fell in January, while German consumer confidence fell to an eight-month low. Worries over vaccine supplies continued to weigh on markets as AstraZeneca said the EU was late in agreeing to a contract resulting in supply problems for the bloc.
US Stock futures were also weak on Wednesday as Boeing disappointed and was down 4% in Wednesday’s pre-market. Starbucks was also lower and investors waited on earnings from Apple (AAPL), Facebook (FB) and Tesla (TSLA) after the close on Wednesday.
Investors were awaiting the Fed interest rate decision later on Wednesday, with particular interest in what Powell will say in the post-decision press conference.
Gamestop (GME) continued to be the number one stock discussed across all major business media outlets as GME shares traded up to $360 during Wednesday’s pre-market. GME shares fell back to $206 not long after!!
Another in vogue stock Bed Bath & Beyond (BBBY) was downgraded by Baird but raised its price target for BBBY.
Johnson & Johnson (JNJ) was upgraded by Wells Fargo, Piper Sandler increased its price target for Facebook (FB) and Wedbush upped its Starbucks (SBUX) price target.
Stocks covered at FXStreet:
Gamestop (GME): Should I buy or should I sell Gamestop now? (fxstreet.com)
PLTR Stock Price: Palantir Technologies Inc dips as investors assess the Demo Day (fxstreet.com)
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump (fxstreet.com)
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high! (fxstreet.com)
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital (fxstreet.com)
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants (fxstreet.com)
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch (fxstreet.com)
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off (fxstreet.com)
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector (fxstreet.com)
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Here is what you need to know on Wednesday, January 27 2021:
European indices were weak on Wednesday, with the FTSE down 1.4%, Euro Stoxx down 2% and the Dax down nearly 1.9%.
Overnight, Asian stocks closed mixed with the Nikkei up 0.3% and the Hang Seng down 0.3%.
US markets were pointing towards a weaker open with Dow futures down 1%, S&P down 1.2% and Nasdaq futures down 0.9%.
EuroStoxx 50
Asian markets were mixed on Wednesday, with the Nikkei finishing up 0.3% The IMF raised its forecast for global growth, which is seen as helping the very open Japanese economy. The broader Japanese index the Topix gained 0.65%, but the Hang Seng closed lower.
European markets were broadly flat in early Wednesday trade but turned lower as the day progressed. French consumer confidence fell in January, while German consumer confidence fell to an eight-month low. Worries over vaccine supplies continued to weigh on markets as AstraZeneca said the EU was late in agreeing to a contract resulting in supply problems for the bloc.
US Stock futures were also weak on Wednesday as Boeing disappointed and was down 4% in Wednesday’s pre-market. Starbucks was also lower and investors waited on earnings from Apple (AAPL), Facebook (FB) and Tesla (TSLA) after the close on Wednesday.
Investors were awaiting the Fed interest rate decision later on Wednesday, with particular interest in what Powell will say in the post-decision press conference.
Gamestop (GME) continued to be the number one stock discussed across all major business media outlets as GME shares traded up to $360 during Wednesday’s pre-market. GME shares fell back to $206 not long after!!
Another in vogue stock Bed Bath & Beyond (BBBY) was downgraded by Baird but raised its price target for BBBY.
Johnson & Johnson (JNJ) was upgraded by Wells Fargo, Piper Sandler increased its price target for Facebook (FB) and Wedbush upped its Starbucks (SBUX) price target.
Stocks covered at FXStreet:
Gamestop (GME): Should I buy or should I sell Gamestop now? (fxstreet.com)
PLTR Stock Price: Palantir Technologies Inc dips as investors assess the Demo Day (fxstreet.com)
Li Auto Inc Stock Price and News: Bulls eye a Biden boost after the Jefferies jump (fxstreet.com)
Aurora Cannabis (ACB) Stock Price and Forecast: Rollercoaster for getting high! (fxstreet.com)
AT Stock Price: Atlantic Power Corp soars on news of acquisition by I Squared Capital (fxstreet.com)
BB Stock Price: BlackBerry Ltd set to extend gains as it dances with three giants (fxstreet.com)
Alibaba (BABA) Stock Price Forecast: Gains 3% on IM electric sedan launch (fxstreet.com)
Delta Air Lines (DAL) Stock Price and Forecast: Preparing for take off (fxstreet.com)
Ideanomics Inc (IDEX) Stock Price and Forecast: Charging ahead with the sector (fxstreet.com)
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.