Thursday’s Headlines: Biden Confirmed President By Congress
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Axos Financial (AX) +9.0%
Chuy's (CHUY) +8.9%
Nordstrom (JWN) +6.3%
Moving Down ⬇️
Bill.com (BILL) -7.6%
The Trade Desk (TTD) -6.1%
StoneCo (STNE) -5.9%
Smartsheet (SMAR) -5.0%
MercadoLibre (MELI) -4.7%
1. Needless to say, there were some frightening scenes in the U.S. capital yesterday after a mob swarmed the Capitol building in a bid to prevent President Donald Trump from being confirmed as the loser of the 2020 election. However, after being cleared off, Congress this morning declared Biden the winner, sending the Dow Jones (DIA), S&P 500 (VOO), and Nasdaq (QQQ) stock futures into the green. The pro-Trump mob triggered lockdowns and evacuations at the Capitol yesterday, forcing lawmakers out of the House and Senate chambers shortly after the proceedings began at 1 PM, leaving many questions surrounding the potential security risks for President-elect Biden’s inauguration on January 20. Read the full story here.
2. While unprecedented events unfolded in Washington D.C., it was business as usual for Apple (AAPL), which released its holiday App Store report yesterday that showed a record $540 million spent on New Year’s Day alone. On top of that, Apple announced it generated $1.8 billion in App Store sales of digital goods and services in the week between Christmas Eve and New Year’s Eve and now has 90 million monthly active users for its Apple Books app. However, investors weren’t impressed with the company’s lack of transparency concerning user numbers for newer services such as Apple TV+ and Fitness+ — its Peloton (PTON) competitor — sending shares falling more than 3% on Wednesday. Read the complete report here.
3. The New York Stock Exchange announced on Wednesday that it will remove U.S.-traded shares of China Telecom (CHA), China Mobile (CHL), and China Unicom (CHU) from the important exchange to comply with an executive order signed by President Donald Trump, its second reversal on the decision in two days. It may not stop there though, as two of China’s biggest firms — Alibaba (BABA) and Tencent Holdings — are allegedly being considered added to the blacklist of firms owned or controlled by the Chinese military. Targeting Asia’s two most valuable companies would be U.S. President Donald Trump’s most dramatic step yet in a recent raft of measures unleashed against Chinese companies as he seeks to cement his hardline policy against Beijing during his final days in office. Read more here.