McDonalds – A busy, busy week ahead
Here is what you need to know on Monday, January 25 2021:
Indices were mixed on Monday with the FTSE and Euro Stoxx 50 both down 1% and the Dax down 1.6%.
Overnight Asian stocks closed strongly with the Nikkei up 0.7% and the Hang Seng up 2.4%.
US markets were mixed with Nasdaq futures up 1% while Dow and S&P futures both slightly lower.
Asian markets were strong as China said it expected a GDP growth of 6% for 2021 and BOJ Governor Kuroda gave an optimistic outlook for the Japanese economy, by saying he expected the economy to return to pre- covid levels by the end of 2021, or early 2022.
China became the world’s top country in attracting Foreign Direct Investment (FDI).
European markets turned lower on the back of a weak German IFO number, concerns over further lockdown measures and the spread of cCovid variants.
Reports first attributed to the Washington Post saying that Republicans are not happy with elements of President Biden‘s stimulus plan added to investors’ worries.
Problems with vaccine supply and further travel restrictions led travel and airline stocks to take heavy losses in Europe on Monday morning.
Philips reported numbers ahead of expectations as did Kimberly-Clark (KMB) and Schlumberger (SLB) was upgraded by Bank of America. Apple (AAPL) was in the news as a number of firms reiterated positive ratings and Wedbush and Raymond James upped their price targets.
Apple (AAPL) and Tesla ((TSLA)) report earnings on Wednesday. According to Electrek, Tesla referred to semi truck production lines at Gigafactory Nevada in a new job posting. Roku saw Bank of America upgrade its price target from $380 to $500.
Busy Week Ahead
BOE’s Bailey speaks later today, US Consumer Confidence numbers are released on Wednesday along with the FOMC rate decision and Q4 US GDP is to be released on Thursday.
Stocks covered at FXStreet:
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PLTR Stock price: Palantir Technologies Inc holding onto high ground after analyst boost
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