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January 20, 2021

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Stock futures flat in early morning trading ahead of Biden’s inauguration

CNBC
CNBC – For more and to sign up click here Stock futures held steady in early morning trade on Wednesday as investors waited for President-elect Joe Biden’s inauguration. Futures on the Dow Jones Industrial Average were just 20 points higher. S&P 500 futures and Nasdaq 100 futures also traded in......

Goldman Sachs beats analysts’ estimates on stronger-than-expected stock trading, investment banking

CNBC
CNBC – For more and to sign up click here David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs on Tuesday beat analysts’ expectations for fourth-quarter profit and revenue on strong performance from the firm’s equities......

JPMorgan beats profit estimates on better-than-expected credit, trading revenue

CNBC
CNBC – For more and to sign up click here Jamie Dimon, CEO of JP Morgan Chase, appears on CNBC’s Squawk Box at the 2020 World Economic Forum in Davos, Switzerland on Jan. 22nd, 2020. Adam Galica | CNBC JPMorgan Chase beat analysts’ estimates for fourth-quarter profit on better-than-expected trading......

Online clothing reseller Poshmark jumps more than 130% as it begins trading

CNBC
CNBC – For more and to sign up click here Rafael Henrique | LightRocket | Getty Images Shares of online clothing reseller Poshmark popped more than 130% in the company’s market debut Thursday. The stock began trading at $97.50 per share. On Wednesday, Poshmark priced its IPO at $42 a......

5 reasons General Motors’ shares are trading at all-time highs

CNBC
CNBC – For more and to sign up click here Shares of General Motors opened Wednesday above $50 for the first time ever after CEO Mary Barra and other executives laid out an array of future business plans — from electric vehicles to flying cars — at the CES technology......

Deutsche Bank to pay $125 million to settle U.S. probes into overseas bribes, trading practices

CNBC
CNBC – For more and to sign up click here Christian Sewing, chief executive officer of Deutsche Bank AG, pauses as Germanys biggest bank announces full year earnings in Frankfurt, Germany, on Friday. Feb. 1, 2019. Deutsche Banks revenue contracted for an eighth straight quarter in the final months of......

Mets Bet Big, Trading for Francisco Lindor and Carlos Carrasco

New York Times
David Waldstein and Tyler Kepner The Mets made their first blockbuster deal under the ownership of Steven Cohen, acquiring the dynamic, power-hitting shortstop Francisco Lindor from the Cleveland Indians on Thursday in a multiplayer trade. The deal was announced on the team’s Twitter account at 1 p.m. The Mets will......

A Simple Way to End Questionable Stock Trading by Lawmakers

New York Times
After Senator Kelly Loeffler, Republican of Georgia, was investigated over insider trading claims last spring, along with at least three of her colleagues, she announced that she and her husband would no longer trade individual stocks; her family would divest them and move their money into diversified mutual funds. Ms.......

TREASURIES-Last day of 2020 trading sees yields dip, curve flatten

Reuters
(New throughout) NEW YORK, Dec 31 (Reuters) – U.S. Treasury yields fell on Thursday, the last trading day of the year, pulling the yield curve flatter despite an unexpected drop in unemployment claims in the United States for a second straight week. The decline ran counter to recent trends higher......

Trading legend Art Cashin shares his poem to say goodbye to 2020 and welcome the New Year

CNBC
CNBC – For more and to sign up click here Art Cashin couldn’t lead the New York Stock Exchange in the singing of “Wait til the Sun Shines Nellie” this year, but he penned this poem for UBS and its clients and is sharing it with us here.  Happy New......

Stocks are flat amid thin trading in shortened Christmas Eve session

CNBC
CNBC – For more and to sign up click here U.S. stocks held steady on Thursday in thin trading as Wall Street is set to wrap up the holiday-shortened week. The Dow Jones Industrial Average dipped just 10 points, while the S&P 500 was little changed. The Nasdaq Composite was......

Some NYSE trading floor personnel to return to remote operations

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the New York Stock Exchange. NYSE Some New York Stock Exchange workers will return to remote working amid a surge in Covid-19 cases in the largest city in the U.S. “On Monday, December 28, 2020, in......

Dow falls 200 points in volatile trading as investors wait for stimulus update from Washington

CNBC
CNBC – For more and to sign up click here Stocks slipped from record highs on Friday as lawmakers rushed to bridge differences on additional coronavirus stimulus measures. The Dow Jones Industrial Average fell about 230 points, while the S&P 500 dipped 0.8%. The Nasdaq Composite traded 0.5% lower. All......

Global FX turnover jumps 11% in November as vaccines spur trading

Reuters
FILE PHOTO: Saudi riyal, yuan, Turkish lira, pound, U.S. dollar, euro and Jordanian dinar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration LONDON (Reuters) – Average daily foreign exchange trading volumes jumped 11% in November versus a year earlier as the U.S. election result and the......

Airbnb Tops $100 Billion on First Day of Trading, Reviving Talk of a Bubble

New York Times
Unlike the other start-ups, which have seen demand for their products soar in the pandemic, Airbnb spent most of the year reeling as people canceled their bookings. In the first nine months of the year, Airbnb brought in $2.5 billion in revenue, down from $3.7 billion a year earlier. It......

DoorDash trading at steep premium to Uber and GrubHub as investors bet on growth beyond food

CNBC
CNBC – For more and to sign up click here DoorDash signage outside the New York Stock Exchange (NYSE) during the company’s initial public offering (IPO) in New York, on Wednesday, Dec. 9, 2020. Michael Nagle | Bloomberg | Getty Images After DoorDash’s first day on the market, it’s clear......

Trading Box Office for Streaming, but Stars Still Want Their Money

New York Times
The 97-year-old studio, the ancestral home of Humphrey Bogart (“Casablanca”) and Bette Davis (“Now, Voyager”), suddenly finds itself at the uncomfortable center of a Hollywood that is changing at light speed. Even before the pandemic, streaming services like Netflix, Apple TV+ and Amazon Prime Video were upending how movies get......

Pandemic-induced options trading craze shows no signs of slowing down

CNBC
CNBC – For more and to sign up click here Traders work on the floor of the NYSE in New York. NYSE Options trading is the new sports betting. Talk about unintended consequences. The stay-at-home requirement created by Covid-19 has spawned a huge sub-industry in options trading in tandem with......

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