Benchmarks Log Weekly Losses Despite Biden's Rescue Plan

Bank names kicked off a new earnings season today

Digital Content Manager
Jan 15, 2021 at 4:39 PM
facebook X logo linkedin

The major indexes wrapped up Friday with both daily and weekly losses, after President-elect Joe Biden's $1.9 trillion rescue plan -- which included direct payments to Americans and extended unemployment benefits -- failed to give investor sentiment a boost. Putting a damper on stocks were disappointing retail sales data, as well as major post-earnings losses in the financial sector, with Wall Street gearing up for yet another earnings season. The Dow dropped roughly 177 points, while the S&P 500 and tech-heavy Nasdaq Composite also settled notably lower. For the week, all three benchmarks posted significant losses as well. 

Continue reading for more on today's market, including:

  • Hewlett Packard stock brushes off lofty bull note.
  • These 9 cannabis stocks are heating up headlines.
  • Plus, analyst eyes Dropbox stock; pharma stock pops on generic contraceptive update; and checking in with JJSF ahead of earnings.

The Dow Jones Industrial Average (DJI - 30,814.26) dropped 177.3 points, or 0.6% for the day, and 0.9% for the week. Home Depot (HD) led the index winners with a 2.7% rise, while Dow Inc (DOW) paced the laggards with a 3.9% drop.

Meanwhile, the S&P 500 Index (SPX - 3,768.25) fell 27.3 points, or 0.7% for the day, and 1.5% for the week. The Nasdaq Composite (IXIC - 12,998.50) dipped 114.1 points, or 0.9% for the day, and 0.9% for the week.

Lastly, the Cboe Volatility Index (VIX - 24.34) added 1.1 point, or 4.7% for the day, and 12.9% for the week -- marking its biggest weekly pop since late October.

 Closing Indexes Summary Jan 15

NYSE and Nasdaq Stats Jan 15

  1. Federal prosecutors said there is “strong evidence” the pro-Trump rioters who attacked the U.S. Capitol last week intended to assassinate elected officials(CNBC)
  2. President-elect Joe Biden said Thursday night he would lay out a plan next month for spending on infrastructure, clean energy and worker training. (MarketWatch) 
  3. Dropbox stock's rebound attempt attracted new analyst coverage.
  4. Pharmaceutical stock pops after announcing plans to launch a new generic contraceptive.
  5. Diving into J&J Snack Foods stock ahead of its quarterly earnings report.

Corporate Earnings Jan 15

 Unusual Options Activity Jan 15

Oil Rally Sputters Out Amid Covid-19 Fears

Oil prices finished today's session substantially lower, giving back most of this week's gains as investors became increasingly concerned a rise in Covid-19 cases in China -- and subsequent lockdowns -- could hurt demand. In turn, February-dated crude fell $1.21 cents, or 2.3% for the day, to settle at $52.36 per barrel. For the week, the commodity added a modest 0.2%.

Gold prices were lower as well, wrapping up the choppy trading week with a loss as the U.S. dollar regained strength, and investors pored over Biden's $1.9 trillion coronavirus rescue plan. In response, February-dated gold lost $21.50, or 1.2% for the day, to settle at $1,829.90 an ounce. For the week, gold dropped 0.3%.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI