The trading day is all about the inauguration of the new US President. Two and a half months after the election, Democrat Joe Biden will be sworn in as the 46th President of the United States this Wednesday at 6 p.m. The era of Donald Trump ends after four years – the Republican was voted out after only one term. According to analyst Jeffrey Halley from broker Oanda, the market is focused on the announced trillion dollar economic aid to fight the pandemic.
From a company perspective, Netflix is the main focus. The online video service grew strongly towards the end of the year thanks to series hits such as “The Queen’s Gambit”, “Bridgerton” and “The Crown”, despite increased competition. It is becoming apparent that consumers are ready to subscribe to several streaming services at the same time and not substitute them, wrote analyst Manuel Mühl from DZ Bank.
In pre-market US trading, Netflix’s shares have already soared by a good 13 percent. Another boost was the management’s announcement in the annual report that it was considering buying back shares for the first time since 2011.
The consumer goods group Procter & Gamble grew faster than expected in the second quarter and raised its forecast for the year. The pre-market share certificates thus rose by a good one percent.
The booming trade in securities during the Corona crisis brought Morgan Stanley strong business growth at the end of the year. The shares of the money house gained around two percent in pre-market trading.
Among the technology stocks, the shares of Alibaba listed on the Nasdaq rose by almost seven percent, because the founder of the Chinese online giant, billionaire Jack Ma, appeared again in public for the first time since the end of October. Chinese state media broadcast a video message by the 56-year-old reportedly targeting 100 teachers in rural areas. Ma announced in the video that she wanted to do more for charitable purposes than before. The billionaire had not appeared in public since the end of October since he sharply criticized the Chinese regulators in a speech ./la/jha/
(AWP)
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