(DAILY NOTION): A Mixed Day on Wall Street, Next Mover: Earnings Report from Big Technology Companies

NASDAQ 100 (as of Jan 26, 2021 at 11.10 a.m.)

Source: Yahoo Finance

SPX 500 Futures (as of Jan 26, 2021 at 11.10 a.m.)

Source: Yahoo Finance

US30 Futures (as of Jan 26, 2021 at 11.10 a.m.)

Source: Yahoo Finance

Wall Street experienced a mixed day yesterday as NAS100 rose 0.50%, the SPX500 gained 0.17%, and the US30 dipped 0.33%. In the broader market, gains were led by the utilities and telecoms sectors while financials and energy suffered the largest losses. 

In the markets, the optimism after President Biden’s unveiled his $1.9 trillion proposed stimulus plans is dimming, as news of Republican opposition begins to grow. Finance Giant, Wells Fargo recently voiced out that it could be challenging to garner bipartisan support on the whole package, with Republican resistance particularly strong in the proposal to raise the minimum wage to $15. They also believe that the Biden administration may need to divide the stimulus package into several packages.

As such, traders would be paying more attention to the earnings reports from big technology this week. Microsoft would be releasing their earnings reports today, followed by Apple and Facebook on Wednesday.

Another market mover would be the U.S. Federal Reserve’s (Fed) interest rate decision tomorrow, and traders would be watching for commentaries from the Fed to provide insight into the economic outlook. Depending on whether a hawkish or dovish tone comes through from the Fed, it could lead to small tremors in the market.

FOLLOWME User Sentiment (as of Jan 26, 2021 at 11.05 a.m.)

SPX500

Short – 80.72%

Long – 19.28%

NAS100

Short – 81.35%

Long – 18.65%

US30

Short – 68.59%

Long – 31.41%