US OPEN: Wall Street inches higher as investors await Biden stimulus plan

• Biden expected to unveil more details on COVID-19 relief plan
• US jobless claims well above expectations
• BlackRock Inc (BLK.US) stock fell 3% despite strong quarterly profits

US stocks launched today's session slightly higher as investors await details on President-elect Joe Biden's proposals for stimulus which could be worth $2 trillion. Fed Chair Powell is due to speak at a livestream event in Princeton University Bendheim Center for Finance later in the day and traders will look for more clues on the Fed's guidance. Meanwhile, President Donald Trump became the first president to be impeached by the House of Representatives twice, with all Democrats and 10 Republicans backing the measure to charge him with high crimes and misdemeanors for inciting an insurrection at the U.S. Capitol last week. However, the Senate is not expected to have enough time to impeach President Trump before Joe Biden is inaugurated next week. Meanwhile investors digested weak data from the labour market. Weekly jobless claims increased to 965K in the week ended January 9th, from the previous week's revised level of 784K and well above analysts' expectations of 795K. It is the highest reading since mid-August.

US100 yesterday broke above the upper limit of the ascending channel and today the upward move is being continued after US open. Currently index is testing major resistance at 12,965 pts. If buyers will manage to break above it, then upward impulse towards all-time high at 13,105 pts could be launched. However, if the bears manage to take control, support at 12,786 pts may be at risk. Source: xStation5

BlackRock Inc (BLK.US), the world's largest asset manager, on  reported today 20% higher quarterly profit thanks to increased activity in financial markets which lifted its assets under management to record high levels. The company's quarterly adjusted net income jumped to $1.57 billion, or $10.18 per share, from $1.31 billion, or $8.34 per share, last year, while Wall Street expected net income of $9.14 per share.

BlackRock Inc (BLK.US) stock launched today’s session, below the upward trendline and is currently testing support at $748.00. Should a break below occurs, downward move could be extended to the $721.10 level which coincides with 50 SMA (green line). On the other hand, if buyers will manage to uphold recent upward momentum, then another upward impulse towards all-time high at $787.46 may be launched. Source: xStation5

PepsiCo (PEP.US) Inc aims to achieve net-zero greenhouse gas emissions across its supply chain by 2040. Company, which also produces Doritos chips and Tropicana juice, will initially cut greenhouse gas emissions from its operations by 75% and by 40% in areas that are outside its own manufacturing processes and supply chain by 2030.

GameStop (GME.US) stock rose 15% in pre-market, continuing yesterday's massive gains after the video game retailer announced an agreement with activist investor RC Ventures, prompting substantial short-covering.

Delta Air Lines (DAL.US) stock fell nearly 2% in the pre-market after company reported quarterly  loss of $2.53 per share, slightly above analysts' expectations of $2.50 loss. As Delta deals with the impact of the pandemic, it did cut its daily cash burn rate to $12 million per day – half of what it was in the prior quarter.

Intel (INTC.US) stock rose 2.7% in the premarket, continuing Wednesday’s gains after naming VMware's (VMW.US) chief as its new CEO, replacing Bob Swan next month which has been Intel's CEO for two years.