On Monday, U.S. stock markets closed mixed at a 1-week low with the S&P 500. Initially, markets opened up significantly lower on global economic fears on Monday as an increase in Covid strains in the UK sparked greater shutdowns that would hurt trade and economic development. The Dow Jones Industrials closed slightly higher on Monday, as bank stocks rallied after regulators approved stock buybacks for banks and as U.S. disease specialists tried to ease concerns over the Covid mutation in the UK.
The U.S. Congress over the weekend approved a pandemic relief plan of $900 billion, which will support stocks. An aide will be provided as part of a $1.4 trillion measure to fund government operations through the end of the fiscal year on September 30. President Trump has said he will sign the measure after it passes both the House and Senate later Monday.
On Monday, positive investor sentiment was supported by a rise in bank stocks after the Federal Reserve announced its positive results of the Stress Test for U.S. banks late Friday and announced that it would loosen restrictions on buying back of shares for U.S. banks in Q1 2016. JPMorgan Chase and Citigroup’s stock prices jumped more than +3% on Monday, while Goldman Sachs was up more than +6%.
BGC Partners Inc. (NASDAQ:BGCP) shares were trading down -1.18% at $4.19 at the time of writing on Monday.
BGC Partners Inc. (NASDAQ:BGCP) share price went from a low point around $2.07 to briefly over $6.14 in past 52 weeks, though shares have since pulled back to $4.19. BGCP market cap has remained high, hitting $1.56B at the time of writing, giving it price-to-sales ratio of more than 0.
If we look at the recent analyst rating BGCP, Raymond James downgraded coverage on BGCP shares with a Mkt perform rating and a $7.00 price target, which implies room for 2.81% upside momentum this year.
Diginex Limited (EQOS) last closed at $9.58, in a 52-week range of $5.11 to $13.75.
Futu Holdings Limited (FUTU) stock drop by -1.96% to $42.47. The firm recently declared that a leading global investment firm has agreed to purchase approximately 50,000,000 Class A ordinary shares of the Company in the form of prepaid warrants for an aggregate purchase price of approximately US$260,000,000.
The Goldman Sachs Group Inc. (NYSE:GS) Shares headed rising, higher as much as 6.13%. The most recent rating by Morgan Stanley, on November 30, 2020, is at an Underweight.
Marathon Patent Group Inc. (NASDAQ:MARA) rose 23.52% after gaining more than $2.19 on Monday. On December 9, 2020, the firm reported that it has entered into a contract with Bitmain to purchase 10,000 Antminer S-19j Pro ASIC Miners.
Morgan Stanley (MS) last closed at $67.83, in a 52-week range of $27.20 to $65.43. On December 18, 2020, the Board of Governors of the Federal Reserve System (FRB) notified Morgan Stanley (NYSE: MS) that it would be permitted to resume repurchases of common stock in the first quarter of 2021, consistent with the FRB’s recently announced distribution limitations.Analysts have a consensus price target of $65.07.
The Charles Schwab Corporation (SCHW) stock drop by -0.44% to $51.75. On December 14, 2020, The Charles Schwab Corporation released its Monthly Activity Report. The most recent rating by Wells Fargo, on December 01, 2020, is at an Overweight.
UP Fintech Holding Limited (NASDAQ:TIGR) Shares headed falling, lower as much as -3.44%. The company reported on December 9, 2020, that it engaged KPMG Huazhen LLP as its independent registered public accounting firm.
XP Inc. (NASDAQ:XP) rose 0.84% after gaining more than $0.34 on Monday. XP Inc (XP) declared on December 7, 2020, the closing of its underwritten public offering of 31,654,894 Class A common shares.