Monday’s Headlines: Stock Futures Climb

Monday’s Headlines: Stock Futures Climb

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Netflix (NFLX) +3.1%

Tripadvisor (TRIP) +2.5%

Baozun (BZUN) +2.0%

Autodesk (ADSK) +2.0%

Align Technology (ALGN) +1.9%

Moving Down ⬇️

Lemonade (LMND) -5.7%

Stitch Fix (SFIX) -5.0%

Zoom Communications (ZM) -4.6%

Nautilus (NLS) -3.9%

iRobot (IRBT) -3.8%

1. Ahead of the first major trading day of 2021, Dow Jones (DIA) futures were up 99 points, whilst the S&P 500 (VOO) and Nasdaq 100 (QQQ) also both traded positively after reaching record highs on Thursday. Following a volatile year, the real standout of 2020 was the Nasdaq Composite, which surged 43.6% as investors flocked into tech stocks at the beginning of the COVID-19 outbreak. The stock market is positioned for further gains in 2021 based on the twin pillars of stimulus support for the economy coupled with the rollout of coronavirus vaccines. See the full story here

2. Tesla’s rivals are ramping up competition in China. Electric vehicle start-ups Nio, Li Auto, and Xpeng announced yesterday that deliveries surged over the last several months, with sales of vehicles from January through November up 4.4%. The Chinese government has supported the industry by introducing subsidies, looser restrictions on license plates and the building out of charging infrastructure. Nio said deliveries more than doubled year-over-year (YoY) to 43,728 vehicles and with gains of more than 1,100%, it was one of the best-performing U.S.-listed Chinese companies in 2020. However, the numbers still fall far short of Tesla (TSLA), which stepped up its promotions in China on New Year’s Day and delivered about five times more cars last year than the three start-ups combined. Read the full story here

3. 2021 is looking like Bitcoin's year as the digital cryptocurrency surged over $30,000 for the first time on Saturday after advancing more than 300% in 2020. The record-breaking rally was driven partly by the recent entry of larger, institutional investors into the crypto market. Wall Street billionaires publicly backing Bitcoin has encouraged otherwise skeptical mainstream investors to buy in. Huge financial companies like PayPal and Fidelity have also bought the cryptocurrency while Square and MicroStrategy have used their own balance sheets to buy it. Bitcoin, which is seen as a hedge against inflation similar to gold, popularity has also been helped by retail investors not wanting to miss out. Check out the full story here

NicoleNicole

Sign up for free to continue reading.