US OPEN: Wall Street opens higher ahead of Biden inauguration

• Biden to assume U.S. presidency
• Treasury Secretary nominee Janet Yellen urged lawmakers to “act big”
• Netflix (NFLX.US) stock soared 13% after Q4earnings beat forecasts

US indices launched today’s session higher with investors awaiting President-elect Joe Biden's inauguration later in the day. The ceremony will take place under increased security in Washington following the riots in early January. Investors will also be looking for further comments regarding his spending plans. Yesterday, Janet Yellen, who was nominated by Biden as the new Treasury Secretary, told the lawmakers that the government needed to “act big” in order to rescue the economy. Meanwhile Trump will not attend Biden's inauguration and has departed the White House for the final time as president. The president's refusal to greet his successor before attending the inauguration represents a break with more than a century and a half of political tradition, seen as a way to affirm the peaceful transfer of power.

US500 – index recently bounced off the upward trendline and today, one can see that the upward move is being continued after the US open. Index is approaching its all-time high at 3819.5 pts , however, if there is a riot during the inauguration, then some risk-off moves may appear. In this case, the local support lies at 3775 pts. Source: xStation5.

Netflix (NFLX.US) added 8.5 million users in the fourth quarter well above analysts’ expectations of 6 million. However earned only $1.19 compared with Wall Street forecasts of$1.36. Revenue at $6.64 billion came in-line with market estimates. Company added 37 million subscribers throughout full-2020. Netflix expects to generate enough cash to end its borrowing spree and potentially fund share buybacks.

Netflix (NFLX.US) stock launched today’s session with a massive bullish price gap and is currently approaching its all-time high at $574.25. Source: xStation5

Morgan Stanley (MS.US) stock rose more than 2% in the premarket, after the company posted upbeat quarterly results partially thanks to strong growth in investment banking and trading revenues. The company earned $1.81 per share, compared with the $1.27 consensus estimate. Revenue of $13.64 billion beat analysts' expectations of $11.54 billion.

Procter & Gamble (PG.US) stock rose 2% in the pre-market today after the company posted better than expected quarterly figures. Company earned $1.64 per share compared to the consensus estimate of $1.51 per share. Revenue at $19.75 billion beat market estimates of $19.27 billion. Procter & Gamble also raised its outlook for the current focal year. Company now expects that sales will increase in the region between 5% to 6% in fiscal 2021, compared to  its previous outlook of 3% to 4% growth while adjusted earnings should increase 8% to 10%, up from the previous expectations of 5% to 8%.

UnitedHealth Group Inc (UNH.US) reported adjusted earnings of $2.52 per share in the recent quarter, above market forecasts of $2.41 per share, partially thanks to lower medical costs due to fewer elective surgeries as hospitals made room for COVID-19 patients. Health insurer reported a medical loss ratio - the percentage of premiums paid out for medical services - of 79.1%, improving from 82.5% last year. However net earnings declined to $2.21 billion, or $2.30 per share, in the recent quarter, from $3.54 billion, or $3.68 per share, a year earlier.