UBS Managing Director and Chief Portfolio Manager Jason Katz talks about his outlook for the economy and the market under Biden.
US Equity Futures It was trading higher after a record day on Wall Street.
The major futures indices point to a 0.1% gain for the Dow and a 0.4% increase for the Nasdaq.
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Hopes were high that President Biden Management means more support for the struggler The American economy.
A large batch of earnings and economic reports may shape the direction of the trading day.
Fourth quarter Profits Parade Contact, with three Dow members due to report on Thursday. We’ll hear from the property and loss insurer traveling in the morning, with tech heavyweights IBM and Intel posting after the closing bell.
On the economic front, the Ministry of Labor will report new claims to Unemployment benefits For the past week. Watch for a drop from 55,000 to 910,000.
The Commerce Department is expected to announce that the number of new homes being built in December rose to a seasonally adjusted annual rate of 1.56 million, the highest since February. Building permits are expected to decline in the future to 1.604 million from 1.635 million, the highest reading since August 2006.
Finally, the Federal Reserve in Philadelphia will release its January index of manufacturing activity for eastern Pennsylvania, southern New Jersey, and Delaware. It is expected to rise to 12.0 from 9.1 in December. A reading above zero means that more manufacturers are saying business conditions are improving.
In Europe, the FTSE in London is up 0.1%, the German DAX is up 0.4%, and the French CAC is down 0.1%.
Biden’s first 100 days to target the COVID-19 outbreak and economic stimulus
In Asia, Japan’s Nikkei 225 benchmark is up 0.8%, Hong Kong’s Hang Seng Index is down 0.1% and China’s Shanghai Composite is up 1.1%.
Data released by Japan’s Ministry of Finance showed that the world’s third largest economy may be heading towards recovery, as exports rose for December for the first time in two years.
In the Wall Street session on Wednesday, the S&P 500 rose 1.4%, surpassing an all-time high earlier this month. The Dow Jones Industrial Average and Nasdaq Composite also hit record highs.
| ribbon | Safety | the last | They change | They change% |
|---|---|---|---|---|
| I am: DJI | Dow Jones averages | 31188.38 | +257.86 | + 0.83% |
| SP500 | Standard & Poor’s 500 | 3851.85 | +52.94 | + 1.39% |
| I: COMP | Nasdaq Composite Index | 13457.247715 | +260.07 | + 1.97% |
Biden took over A flurry of executive action In his early hours as president. He also presented a plan to pump an additional $ 1.9 trillion into the ailing economy, hoping to act quickly as his Democratic party now controls the White House and both houses of Congress.
The hope on Wall Street was that such a stimulus would help propel the economy until later this year, when the most prevalent COVID-19 vaccines are nearing daily life to normal.
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In energy trade, US crude lost 41 cents to $ 52.90 a barrel. Brent crude, the international benchmark, fell 42 cents to $ 55.66 a barrel.
The Associated Press contributed to this report.
