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US Markets: Broader indices in the United States traded in red - particularly, the S&P 500 index traded 39.28 points or 1.03 per cent lower at 3,756.26, Dow Jones Industrial Average Index contracted by 321.48 points or 1.04 per cent lower at 30,670.04, and the technology benchmark index Nasdaq Composite traded lower at 12,986.06, down by 126.58 points or 0.97 per cent against the previous day close (at the time of writing, before the US market close at 10:30 AM ET).
US Market News: The major indices of Wall Street traded in the red after Joe Biden had announced a USD 1.9 trillion of Covid-19 stimulus plan. The Purchasing Price Index (PPI) had increased by 0.3% in December 2020 compared to an increase of 0.1% during November 2020. Among the gaining stocks, Alibaba Group Holdings shares gained about 1.41% after the company had avoided its blacklisting. Shares of Teva Pharmaceuticals Industries went up by 1.13% after the company announced regarding the launch of the generic version of Merck’s NuvaRing birth control device. Among the declining stocks, shares of Wells Fargo & Co slipped by around 4.75% due to its high restructuring & legacy cost of USD 1 billion. JPMorgan Chase shares fell by about 2.35% as the weak financial performance of bank’s core activities was offset by a strong performance from its investment bank division. Shares of PNC Financial Services Group slipped by around 1.47% after it had reported a drop in its fourth-quarter revenue.
US Stocks Performance*
European News: The London and European markets traded in the red territory reflecting weak investor sentiments around the latest UK GDP data. The Office for National Statistics had reported a GDP drop of around 2.6% for November 2020 compared to a 0.4% growth during October 2020. Among the gaining stocks, Indivior shares grew by 9.81% after it had raised its full-year revenue guidance. Shares of Aveva Group had increased by 6.97% after it had reported an improvement in revenue growth during the third quarter. Meggitt shares went up by 2.29% after it had anticipated the full-year results to be in line with the expectations. Among the decliners, shares of Petrofac went down by 27.07% after the former employee of one of its subsidiaries was charged under the UK Bribery Act. Babcock International Group shares dropped by 15.29% after it had reported a significant drop in the profit during the first nine months of the year. Shares of DS Smith went down by 4.17% after Merpas sold shares in the placing.
European Indices Performance (at the time of writing):
FTSE 100 Index One Year Performance (as on 15 January 2021)
1 Year FTSE 100 Chart (Source: Refinitiv, Thomson Reuters)
Top 3 Volume Stocks in FTSE 100*: Lloyds Banking Group Plc (LLOY); International Consolidated Airlines Group SA (IAG); Morrison (WM) Supermarkets Plc (MRW).
Top Sector traded in green*: Healthcare (+0.16%).
Top 3 Sectors traded in red*: Basic Materials (-2.74%), Energy (-1.14%) and Industrials (-0.93%).
London Stock Exchange: Stocks Performance (at the time of writing)
Crude Oil Future Prices*: Brent future crude oil (future) price and WTI crude oil (future) price were hovering at $55.06/barrel and $52.25/barrel, respectively.
Gold Price*: Gold price was quoting at US$1,830.90 per ounce, down by 1.11% against the prior day closing.
Currency Rates*: GBP to USD: 1.3594; EUR to GBP: 0.8890.
Bond Yields*: US 10-Year Treasury yield: 1.089%; UK 10-Year Government Bond yield: 0.286%.
*At the time of writing
