Tuesday's Headlines: Biden's New Era Of Tougher Control
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Chuy's (CHUY) +9.3%
The Home Depot (HD) +2.7%
Facebook (FB) +2.3%
Prologis Inc. (PLD) +2.3%
American Tower (AMT) +2.3%
Moving Down ⬇️
Nautilus (NLS) -7.0%
Lemonade (LMND) -6.8%
Spotify (SPOT) -6.6%
Nordstrom (JWN) -4.7%
As the market was closed yesterday in honor of Martin Luther King Jr. Day, there were no movements on the U.S exchanges.
1. Futures moved higher early Tuesday as markets looked to bounce back ahead of president-elect Joe Biden’s inauguration. The Dow Jones (DIA) rose 166 points, while the S&P 500 Index (VOO) and the Nasdaq (QQQ) also traded in the green. On Monday, Biden’s team confirmed their nominations of two consumer champions to lead top financial agencies, signaling the administration’s tougher stance on the financial industry as a whole. In the coming days, global economic data and U.S. earnings reports will be plentiful, but Wall Street remains focused on the inauguration tomorrow and the possibility of further violence in Washington. Read the full story here.
2. Tesla (TSLA) just hit another milestone as reports state that deliveries of its China-produced crossover of the Model Y began on Monday. We may not know exactly how many cars were delivered but the move is critically important for Tesla as China is the world’s largest EV market. Elon Musk plans to increase Tesla’s vehicle sales volume from 500,000 in 2020 to 20 million annually over the next decade and the Asian market will be vital to this goal as China was a real driving force for sales last year. See the full story here.
3. All bets are on for Wynn Resorts (WYNN) after it revealed plans to expand the availability of its WynnBET online sports betting app to seven more states. Following the ongoing legalization of sports betting across the U.S., WynnBET will soon open its virtual doors in Michigan, Indiana, Iowa, Nevada, and Massachusetts. As demand increases for the iGaming industry, the casino company has also reached a multi-year partnership with Elite Casino Resorts — the leading integrated resort company in Iowa — so sports fanatics in the Hawkeye State can access the WynnBET app. Check out the full story here.
There is 1 company on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.