Shares down in US in both Friday and week: “News is no longer enough to act as a catalyst for stock market rise”


The main indices of the New York stock exchanges fell at the end of the trading week on Friday.

Investors melted down Joe Biden the $ 1.9 billion stimulus package planned by the Commission and the fourth-quarter 2020 results announced by major banks.

On a weekly basis, the Dow Jones Index is down 0.9 percent, the broad S&P 500 is up 1.5 percent and the technology-focused Nasdaq is up 1.5 percent.

Biden announced its $ 1.9 billion recovery plan on Thursday night. Biden would like Americans to be paid a direct interest rate subsidy of $ 1,400 per household instead of the current $ 600.

The money should also be used to distribute coronary vaccines, as well as to fund state and local governments.

“Plans for a future stimulus, the Fed’s stimulus monetary policy and corona vaccines have already been widely reported, so they simply aren’t enough to act as catalysts for stock market rises anymore. They will no longer raise stock prices in the same way as in recent months, ”the investment website The Sevens Reportin founder Tom try writes according to CNBC.

Reuters ’stock market report today speculates that the market may fear the stimulus package will lead to tax increases.

A lot of fresh macroeconomic figures came from the United States today. In December, retail sales decreased by 0.7 per cent compared to the previous month. In November, retail sales fell 1.4 percent. Retail sales were also declining in October.

Finance company JPMorgan Chase today released its fourth quarter interim report. The company’s earnings per share and net sales exceeded analysts’ forecasts. The company’s share still fell 1.8 percent.

CitigroupBank’s net sales fell slightly short of analysts’ forecasts, but the company’s earnings per share clearly exceeded forecasts. The company’s share fell 6.9 percent.

The Dow Jones index fell 0.6 percent, the S&P 500 index fell 0.7 percent and the Nasdaq index 0.9 percent.

The 10-year interest rate on U.S. government debt was quoted at 1.091 percent after the stock market closed. One euro received $ 1.2078.


Source: Arvopaperi by www.arvopaperi.fi.

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