The trading day on Wall Street closed with sharp gains led by technology stocks. The reporting season of the fourth quarter of 2020 today entered its second day with the continued reporting of the major US banks. Prior to trading, two of the leading US banks published their reports. Goldman Sachs and Bank of America Which posted high earnings but lower-than-expected earnings, their stocks ended trading down slightly. It should be noted that last Friday there were sharp declines in US bank shares following the publication of JP’s reports. Morgan, Wells Fargo and Citigroup. After the trade, Netflix will publish one of the most interesting reports in the current reporting season.
Janet Yellen, the former Fed governor who will become the U.S. Treasury Secretary, will later speak to the Senate about her plans to ease the economic pressure on citizens against the corona. Speaking of Corona, the world’s largest economy will today mark its 400,000th victim of the virus. Joe Biden will be sworn in tomorrow. This week in New York is a short week after yesterday the indices did not trade following the Martin Luther King Day
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S&P 500
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+ 1.53%
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580.02
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26,474,761
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18,383,998
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20/01/2021
The inflation environment maintains stability and is expected to rise over the coming year
Against the background of a 0.4% rise in the consumer price index in December after a 0.2% rise in November, Dr. Gil Befman, chief economist at Bank Leumi, explains why the US inflation environment remains stable and is expected to rise over the coming year. Inflation in the US during 2021 under the influence of a range of factors. First, such acceleration is desirable by economic policy makers (monetary and fiscal). After that, there is a complex of supply-side factors that reflect rising prices along the way: commodity prices (agricultural, energy, industrial metals), shifting production chains and rising prices, shortage of shipping containers and more. ”
Despite the tax hikes, the Biden program is good for the American economy
Alex Zabrzynski, Meitav Dash’s chief economist, also believes that Democrats’ control of the two houses of parliament raises the chances of realizing the new president’s economic plan, which includes massive investments in the US economy in the coming years. The long-term of the US economy.
Optimism of the beginning of the year
In conclusion, Amir Kahanovich, chief economist at Excellence Investment House, turns the spotlight on the fact that the first trading week of the year is one of Wall Street’s favorite indicators. He said, “Since 1950, when the first week ended with increases, the chance that the entire year will end with increases jumped to 80% and to an average annual change of about 13%, the S & P500 index.
Goldman Sachs (GS) – The bank earned $ 12.08 per share in the fourth quarter, well above market expectations of $ 7.47 per share. Revenue also met early forecasts. Revenue from bond trading and underwriting supported the banks’ results. Goldman Sachs shares are down up to 1% in trading.
Bank of America (BAC) – The bank reported quarterly earnings of 59 cents per share, 4 cents per share above market estimates. Revenue was lower than Wall Street forecasts, with the bank benefiting from trading but not from customer credit. The bank announced the purchase of $ 3.2 billion worth of shares and a dividend of 18 cents per share.
The bottom line is that power has helped the company’s trading business. Separately, BofA announced approval of a $ 3.2 billion takeover bid, as well as maintaining its quarterly dividend at 18 cents a share. The company’s shares fell 1.5%.
General Electric (GE) – General Electric has announced that it is offering to freeze pension benefits for 2,800 employees in the UK. Liabilities to UK pension benefits GE stood at about $ 14 billion at the end of 2020. The company’s shares rose 1.4%.
American Express (AXP) – The financial services giant received a double upgrade in the investment department of JPMorgan Chase, which raised the rating to “overweight” from “underweight”. JPMorgan has said a number of factors will help American Express, including a restrained demand for leisure trips in the second half of the year. The company’s shares rose 1.5% in pre-market trading.
Tesla (TSLA) – Tesla on Monday unveiled its first China-made crossover vehicle, while the company is looking to increase its market share in the country.
Boeing (BA) – Canada will lift the ban on Boeing’s 737 Max aircraft on Wednesday, and join other countries that allow the aircraft to return to service after nearly two years on the ground.
After the traumatic 2020, the expectations of the computer and console game retailer, GameStop (GME) For 2021 it was not much pink. Just last week the company announced a 3% drop in its sales this Christmas season, which is not an encouraging sign at all, especially in light of the fact that Sony and Microsoft (MSFT) have launched new consoles. The company has been hit hard by the closures and is having a very hard time closing the pit created in its sales lineup. For full reading
Company Aculab (ECL), A global giant in water solutions that is expected to enjoy a scarcity of the most vital resource. The company’s market capitalization exceeds $ 60 billion. Although the company has been at a shortfall of 5% since the beginning of the year, in the past year it has risen by 7.8% and today the price is close to $ 211 per share. And American stock Water Works (AWK), A water services and wastewater removal company has soared 22.6% to $ 159 per share, and its market value stands at about $ 29 billion. For full reading
Israeliness on Wall Street
nature
+ 2.52%
Base:3,891
opening:3,930
Tall:4,011
low:3,910
change:55,927,468
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(TEVA) – The stock climbs 1.8% in trading after a hot recommendation on investor website Mottali Paul, which stated that there is currently no cheaper (better) pharmaceutical company to invest in the sector.
SolRadge (SEDG) The Israeli green energy giant plunged 15% on Friday in the face of Tesla’s entry into the energy converter market. Today the stock is making an impressive comeback, apparently due to the company’s reports that Tesla is not one of the company’s major customers.
The satellite company
Gilat
+ 19.25%
Base:2,415
opening:2,420
Tall:2,920
low:2,419
change:33,474,020
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A technology provider for satellite communications networks, reported last week that it has signed a contract with Globe Telecom, which is traded on the Philippine Stock Exchange: With the opening of trading today, the company announced that it has signed with a communications company in Mexico. The stock is soaring more than 20%. In addition the company may be part of an ETF on space companies.
Sargon CRNT – The company once again proves the power of Twitter. On the social network, the Israeli is recommended as one who will enjoy the transition of the world to 5G networks. Meanwhile, the stock enjoys speculation and adds 30% tonight.
Company
Allot
+ 1.09%
Base:4,501
opening:4,500
Tall:4,715
low:4,452
change:5,901,126
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(Symbol: ALL) Providing SECaaS Network Analysis and Security Solutions (SECaaS) solutions for worldwide communications and business service providers, reports that European telecommunications service provider Tier-1 has chosen its HomeSecure and BusinessSecure solutions to provide its customers with cyber and content control services to protect end units / routers and devices in their homes and businesses. . This is an existing customer who repurchases the company’s products.
Fiverr – The company’s share falls on Wall Street against the background of a downgrade of the investment bank UBS. The stock is down 10%.