During the dot com bubble, the Fed’s interest rate was 6.5%. Currently, high valuations are supported by interest rates close to zero.
Archives of “February 3, 2021” day
rssEurostoxx futures +0.5% in early European trading
The positive tones spill over to Europe in early trades
- German DAX futures +0.5%
- UK FTSE futures +0.3%
- Spanish IBEX futures +0.7%
This mirrors the positive mood in US futures, with S&P 500 futures seen up 0.4% and Nasdaq futures up 0.7% as the market exudes more calm on the week so far.
US Treas Sec Yellen says US economic aid package is desperately needed
US Treasury Secretary Yellen
- CBO forecast shows desperate need for aid package
- will be years before us reaches full employment again based
US Senate has voted in favour of moving Biden’s $1.9 tln COVID relief package forward
No Republican’s voted for the support package for Americans.
Vote passed 50-49
Wow …. this looks like its going to be a difficult road ahead for the package. there is still no guarantee it won’t be finally approved in a reduced size.
On this day in 2011: Instagram valued at $25 million after first financing. It’s now worth more than $200 billion.
Major indices post 2 day winning streak. Amazon and Google beat on earnings. Bezos to step down from CEO role
S&P post the best day to day performance since November
The major indices closed higher for the 2nd consecutive day with solid gains across the board ahead of earnings from Amazon and Google after the close.
The final numbers are showing:
- S&P index +52.37 points or 1.39% at 3826.24
- NASDAQ index up 209.38 points or 1.56% at 13612.77
- Dow industrial average rose 476.23 points or 1.58% at 30688.14
After the close, both Google and Amazon have beaten on the top and bottom lines. Alphabet shares are currently trading up 4.21% to near $2000 a share.
Alphabet had
- revenues of $56.90 billion vs. $53.13 billion estimate
- earnings-per-share came in at $22.30 cents vs. $15.90 cents estimate
For Amazon, CEO basis said that he will transition to role of executive chair. Andy Jassy will become the new CEO of Amazon. Jassy is a long time Amazon employee and built AWS. The announcement is a surprise. Amazon’s basals is to focus on new products and early initiatives according to the headline news.
Amazon shares are currently trading higher by about 1.3% and volatile trading.
For Amazon:
- Earnings-per-share came in at $14.09 vs. $7.34 estimate
- net sales came in at $125.56 billion vs. 119.70 billion
Thought For A Day
