Sunday, January 24We Break the News

US Futures Lack Direction as Investors Assess Stimulus, Political Turmoil

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US futures were little changed on Wednesday as investors digest prospects of more fiscal stimulus, political turmoil and rising coronavirus cases. Joe Biden is expected to give more details on his trillions of dollars economic package on Thursday but Bloomberg reported that he will seek a deal with Republicans, rather than trying to ram a package through without their support. Meanwhile, the House voted 223-205 to call on Mike Pence to invoke the 25th Amendment to remove President Trump from office although the Vice President rejected it. On the corporate front, the earnings season will kick off later in the week with reports from Citigroup, Wells Fargo and JPMorgan. S&P 500 earnings are seen dropping 12% yoy in the final three months of 2020, according to data from Bloomberg. On Tuesday, the Dow Jones gained 60 points or 0.2% to 31,069. The S&P 500 edged up less than 0.1% to 3,801. The Nasdaq rose 36 points or 0.3% to 13,072.

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