US OPEN: Wall Street opens flat as earnings season is about to begin

• US House to vote on Donald Trump impeachment on Wednesday
• Fed's Kaplan hopes to begin QE weaning this year
• Ford (F.US) ceases production in Brazil

US stock indexes launched today’s session flat as market attention turns toward the earnings season. JPMorgan, Citigroup and other big banks will launch the reporting season on Friday. Investors will look for clues on the health of Corporate America and the economy while awaiting details on the next fiscal stimulus package. Earnings for S&P 500 companies are expected to have dropped 9.8% year-over-year in the final quarter of 2020, according to IBES data from Refinitiv, but they are expected to rebound in 2021, with a gain of 16.4% projected for the first quarter. Fed's Kaplan said that discussions about tapering the $120 billion a month asset-buying program may begin by the end of the year, paving the way for an interest rate hike in 2023. On the political front, Democrats will give Trump one last chance on Tuesday to leave office days before his term expires or face an unprecedented second impeachment over his supporters' storming of the U.S. Capitol on Jan. 6.

US100 – index bounced  off the local resistance at 12,965 pts which coincides with the upper limit of the descending channel. As long as the price sits below it, continuation of the downward move looks probable. Next support lies at 12,786 pts. However if buyers manage to break above it, then upward impulse towards all-time high at 13,105 pts could be launched. Source: xStation5

Ford Motor (F.US) decided to close three plants in Brazil in order to reduce its losses. The move (which will affect 5,000 jobs) was part of a previously announced $11 billion global restructuring, of which it has already taken a charge of $4.2 billion in the third quarter of 2020. It expects to book another $2.5 billion in the fourth quarter and about $1.6 billion in 2021. 

Ford Motor (F.US) stock launched today’s session higher and is currently approaching major resistance at $9.50 which is additionally strengthened by 200 SMA (red line). Should a break above occur, then another upward impulse towards the $10.53 level could be launched. However, if sellers will manage to halt declines here, downward correction may be on the cards. The nearest support to watch lies at $8.41. Source: xStation5

Lemonade (LMND.US) stock fell more than 7% after the online insurance provider announced a 3 million share secondary stock offering. 

Albertsons (ACI.US) stock rose 4% after the company posted its quarterly figures. Albertson earned 66 cents per share, well above analysts' expectations of 42 cents a share. Revenue also came in above market estimates. The grocery store operator also lifted its full-year guidance. Company expects to earn  between $3.05 to $3.15 per share from the prior $2.75 to $2.85, compared to a consensus estimate of $2.78. 

Intel Corp (INTC.US) plans to tap Taiwan Semiconductor Manufacturing Co (TSM.US) to create a second-generation graphics chip for personal computers.

Walmart (WMT.US) together with investment firm Ribbit Capital are planning to launch a new fintech startup that will help Walmart expand its financial services business. Previously Ribbit supported trading platform Robinhood and personal finance company Credit Karma.

Nvidia (NVDA.US) announced that Nio (NIO.US) and other electric vehicle companies are now using its technology, which features the “world’s most advanced processor” for use in autonomous vehicles and robots.

Amazon.com (AMZN.US) is planning to remove QAnon-themed products from its site after recent negative comments for having QAnon apparel and related items following last week’s attack on the U.S. Capitol.

Twitter (TWTR.US) suspended more than 70,000 accounts that had been sharing QAnon content, following the Capitol attack.