| What to watch today: Stocks set to rise as Wall Street looks for its best week since November | | |  | FRI, FEB 05, 2021 | | | | AS OF FRI, FEB 05, 2021 • 08:44 ET | | Dow Jones Fut | | 31,055.86 | | Current: | 31,080.00 | | Change: | 130.00 | | Impl. Open: | 124.14 | | | S&P 500 Fut | | 3,871.74 | | Current: | 3,881.00 | | Change: | 16.50 | | Impl. Open: | 15.26 | | | NASDAQ 100 Fut | | 13,560.89 | | Current: | 13,604.50 | | Change: | 57.00 | | Impl. Open: | 53.61 | | | Russell 2000 Mini | | 2,202.42 | | Current: | 2,215.00 | | Change: | 15.60 | | Impl. Open: | 17.78 | | | The S&P 500, tech-heavy Nasdaq and small-cap Russell 2000 all posted record closes Thursday, while the Dow and S&P 500 both advanced 1.1% to extend their winning streaks to four days. They've not risen for as many as five days in a row since August. (CNBC) | | | | Nonfarm payrolls added 49,000 jobs in January, basically in line with economists' forecasts of 50,000. The U.S. unemployment rate declined to 6.3% from 6.7%, according to the Bureau of Labor Statistics. The number of unemployed Americans fell to 10.1 million as the coronavirus pandemic continues to inhibit economic activity. (CNBC) | | | The Senate approved a budget resolution after a marathon of votes on a litany of amendments, allowing Congress to continue its quest toward passing a $1.9 trillion coronavirus stimulus bill. Vice President Kamala Harris cast the tie-breaking vote early Friday after the upper chamber was split along party lines 50-50. Democrats can now go forward with using the budget reconciliation process to pass Covid relief, meaning only a simple majority and no Republican votes are needed for approval. (CNBC)
* House votes to strip Rep. Marjorie Taylor Greene of committee assignments (CNBC) | | | | Johnson & Johnson (JNJ) applied for emergency use authorization with the Food and Drug Administration for its single-dose coronavirus vaccine. The pharmaceutical giant released clinical trial data last week that showed the vaccine to be 85% effective in preventing severe disease after four weeks. There also were no Covid-related hospitalizations or deaths in the trial after 28 days. The vaccine's overall effectiveness was 66% for preventing moderate to severe disease. J&J's vaccine could be the third to receive limited clearance from the FDA and experts believe it would help accelerate the pace of vaccinations in the U.S. (CNBC) | | | | Chamath Palihapitiya-backed Clover Health Investments (CLOV) announced it's received notice of investigation from the Securities and Exchange Commission and plans to cooperate with the regulator's inquiry. However, the recently public insurance company also issued a response to the critical report released Thursday by Hindenburg Research, calling some of the short-selling firm's claims "completely untrue." Clover shares rose by over 3% in premarket trading, one day after tanking 12.3%. (CNBC) | | | | Peloton (PTON) doubled consensus estimates in reporting quarterly profit of 18 cents per share, while the fitness equipment maker's revenue came in above estimates as well. However, Peloton will be incurring extra costs in the near term to reduce shipping delays, and is delaying launch of a new treadmill while it focuses in cutting down on delivery times. | | | | T-Mobile (TMUS) came in 9 cents ahead of forecasts by reporting quarterly earnings of 60 cents per share, while the mobile service provider saw revenue beat estimates as well. T-Mobile did say that it will incur more ongoing costs this year as it moves former Sprint subscribers onto its network. | | | | Gilead Sciences (GILD) beat estimates by 4 cents with adjusted quarterly earnings of $2.19 per share, with the drug maker's revenue also above Wall Street forecasts. Gilead's results were boosted by sales of its antiviral treatment remdesivir, used in the treatment of COVID-19 patients. | | | | Pinterest (PINS) reported adjusted quarterly earnings of 43 cents per share, 11 cents above estimates, with revenue also scoring a beat. The image-sharing company was helped by robust ad sales during the holiday shopping period, as it added more than 100 million active users during 2020. | | | | Activision (ATVI) reported adjusted quarterly profit of $1.21 per share, beating consensus forecasts by 3 cents, with the videogame developer seeing revenue above estimates as well. It also gave an upbeat 2021 sales forecast on the strength of its newest installment of the "Call of Duty" franchise. | | | | Alibaba's (BABA) $5 billion U.S. dollar bond offering was 8 times oversubscribed, with Reuters reporting that several sovereign wealth funds were among the buyers of the Chinese e-commerce giant's debt. | | | | News Corp. (NWSA) earned an adjusted 34 cents per share for its latest quarter, compared to an 11 cent estimate, with the Wall Street Journal publisher also seeing revenue above forecasts. The company saw strong results for its digital real estate and book publishing operations during the quarter. | | | | Skechers (SKX) missed estimates by 6 cents, reporting adjusted quarterly profit of 24 cents per share, and the shoe company saw revenue miss estimates as well. Skechers said it faced challenges in 2020 due to the pandemic and is not issuing a forecast due to the ongoing uncertainty, but it notes it was able to come close to record sales in the fourth quarter. | | |
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