January 13: Market Summary
Yield on 10-year Treasury note edges lower after seven consecutive days of increases
Here are today’s market moves:
S&P 500 up 0.23% to 3,809.84
Dow Jones down 0.026% to 31,060.47
Nasdaq up 0.43% to 13,128.95
Gold: $1,844
Bitcoin: $35,616
US10Y: 1.11%
What happened?
U.S. stocks wobbled Wednesday, swinging between small gains and losses for most of the session, as investors monitored the impeachment proceedings against President Trump in Washington.
House lawmakers voted shortly after the stock market closed to impeach the president for inciting last week’s Capitol riot, just days before he is due to leave office. While the political rancor has weighed on market sentiment in recent days, most money managers are looking past the developments in Washington to focus on the prospects for additional fiscal stimulus.
Stocks have struggled for direction this week after notching records in early January as investors weighed the prospect of fresh government spending against political turmoil in Washington and still rising Covid-19 cases.
Energy and banking stocks are among the best performers so far in the new year as investors bet on companies that fared poorly in 2020 and are likely to benefit as the economy recovers.
This Week
Monday: Earnings expected from Synnex
Tuesday: Earnings expected from Albertsons
Wednesday: Earnings expected from Infosys and IHS Markit
Thursday: Weekly jobless claims. Earnings expected from Delta and BlackRock
Friday: Earnings expected from JPMorgan Chase and Citi