January 20, 2021 - Financial Occultist

Biden sworn in as 46th US President

That must be a surreal moment for a man who dreamed of becoming President for his entire adult life.

For reference, here are all the main market levels on his swearing in:

S&P 500 3841
DJIA 31,118
Nasdaq 13,424
10-year note yield 1.095%
WTI crude $53.37
Nat gas $2.47
Gold $1868
DXY 90.47
EUR/USD 1.2111
GBP/USD 1.3658
USD/JPY 103.58
USD/CNH 6.46

So far this year, the most short-selling stocks have risen the most.

20-Jan-21 12:08 pm

Anirudh Sethi

The S&P 500 was up 68% during Trump’s term

20-Jan-21 12:05 pm

Anirudh Sethi

ICYMI – Germany’s Merkel says considering border closures

20-Jan-21 05:36 am

Analysis

Anirudh Sethi

German Chancellor Angela Merkel spoke on Tuesday, Europe time, posting this ICYMI

warned Germany may need to consider border crossing restrictions if other European countries do not act to halt the spread of the coronavirus,
“We can do anything we like, but we will not succeed if others are not working in parallel”
“We need to make sure that everyone around us is doing the same. Otherwise we have to look at measures such as entry restrictions.”

Germany has already extended lockdown for another two weeks, now through to February 14.

—

There may be light on the horizon as vaccine rollouts trundle on but there are immediate problems still being addressed. With any luck, the coming northern summer will see the world better placed.

US major broad indices close with solid gains

20-Jan-21 05:15 am

Anirudh Sethi

Dow rises modestly

The US major broad indices closed solidly higher on the day.

The gains were led by the Nasdaq index which rose by 1.53%. A look at the closing numbers shows:

S&P index rose 30.66 points or 0.81% to 3798.93
Nasdaq index rose 198.67 points or 1.53% 13197.30
The more narrowly focused Dow 30 index rose by 116.26 points or 0.38% to 30930.51.
The Russell 2000 small Index rose 26.79 points or 1.26% to 2150

Highlights:

Dow rises for the first time in 4 days (3 day losing streak)
S&P and NASDAQ index snapped a two day slide

After the close Netflix reported

Streaming paid net change of 8.51 million users. That was much better than the 6.06 million users estimate.
Guidance for the 1st quarter is for a net paid change of 6.0 million vs. estimate of 7.45 million
Revenues came in at $7.13 billion vs. estimate $7 billion
Earnings-per-share came in at $1.19 vs. $1.39 estimate
Netflix sees 1st quarter ECB of $2.97 vs. $2.12 estimate
Say that they will explore ongoing stock buybacks

the stock is is trading sharply higher to $554.32 in after- hour trading. The stock closed at $501.77.