- Yellen calls top regulator meeting on GameStop volatility
- ADP report well above expectations
- Alphabet’s (GOOGL.US) Q4 figures boost its share price to a new ATH
US indices launched today's session mixed with Nasdaq 100 trading near its record high levels after Amazon and Alphabet posted better than expected quarterly figures. Meanwhile, retail frenzy continues with shares of GameStop rose 20% in the premarket trying to erase yesterday's heavy losses. Treasury Secretary Yellen will discuss recent volatility in financial markets with several regulators including the Fed and SEC. Meanwhile, the Senate voted 50-49 to begin debate on a budget resolution for the 2021 fiscal year that will allow Democrats to pass the $1.9 trillion stimulus plan without Republican votes. On the data front, ADP report showed that private businesses in the US hired 174K workers last month, beating analysts' expectations of an increase of 49K.
US30 - index is stuck between the downward trendline and two SMA’s ( red and green line). In case buyers manage to break above, the index could rally towards the all-time high at around 31,200 pts. Area at 30,500 pts remains the nearest support to watch and in case it is broken, a bigger downward move may follow. Source: xStation5
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Create account Try a demo Download mobile app Download mobile appAlphabet (GOOGL.US) reported Q4 revenue at $56.90 billion (exp. $53.13 billion) and adjusted EPS at $22.30 (exp. $15.90). Company reported 22% YoY increase in ad revenue and solid sales figures, although it saw losses in its cloud division as it broke out figures separately for that unit for the first time.
Following today's huge gap at the open, share price of Alphabet (GOOGL.US) not only jumped above the upper limit of the ascending channel but also painted a fresh all-time high. Source: xStation5
Shares of video game retailer GameStop Corp (GME.US) and movie theater operator AMC Entertainment (AMC.US) are trying to erase yesterday losses and rose 10.0% and 6.7%, respectively.
Spotify (SPOT.US) shares dropped 7% in premarket trading after the music streaming service posted a wider-than-expected quarterly loss. Revenue came in above market expectations. Also the number of premium subscribers increased by 24% to a better-than-expected 155 million.
Capri Holdings (CPRI.US) stock fell 7% in premarket trading after the company reported quarterly earnings of $1.65 per share, above market expectations of $1.01 a share. However, revenue figures disappointed as the owner of Michael Kors and other luxury brands was forced to close shops in major European markets due to the pandemic.
Amazon (AMZN.US) reported Q4 revenue at $125.56 billion (exp. $119.70 billion) and EPS at $14.09 (exp. $7.23). Jeff Bezos will step down as CEO and become executive chairman. He will be replaced by Amazon Web Services chief Andy Jassy.
Amgen (AMGN.US) shares fell 2% in pre-market after the company provided a disappointing full-year outlook, saying the pandemic would continue to impact sales. The biotech company also paused or halted enrollment in three trials involving cancer drugs.
