Trading on December 30 at American stock markets ended in the green zone. The S&P 500 Index rose 0.13% to 3732 points, the Dow Jones rose 0.24%, the NASDAQ added 0.15%. The trades were held in a narrow range. The UK as expected approved AstraZeneca’s vaccine, leading to relative strength in cyclical sectors, with the energy sector growing 1.6% and the raw materials sector 1.3%. FAANG shares were down more than 1%.
Company news
Tesla (TSLA:+4.3%) will allow autonomous driving for three months free of charge. In addition, the Wedbush analyst noted that the target for sales of 500 thousand electric cars in 2020 can be achieved.
The board of directors of Chinese retail giant JD.com (JD: + 3.9%) has allowed the company to consider spinning off its cloud business into a separate company.
Today’s Outlook
Today the global stock markets show mostly sideways dynamics. The news background remains calm. Senate Majority Leader McConnell’s rhetoric reaffirms speculation that the idea of raising direct payments to Americans from $600 to $2,000 will be heavily resisted in the Senate vote. Many Republicans question the effectiveness of this initiative. The increase in payments will lead to an increase in the national debt by more than $ 460 billion, but only a small part of this amount will be received by the neediest segments of the population. Nevertheless, ongoing fiscal support plays a key role in the economic recovery.
The head of Operation Warp Speed, which is in charge of the vaccine campaign, said the vaccine, created by AstraZeneca and Oxford University, will not receive US approval until April. The expert points to the mixed results of clinical trials and a strong difference in the effectiveness of the vaccine depending on the modes of use. The company is currently conducting additional trials in the United States. However, optimism about the various vaccines and their ability to withstand the coronavirus remains heightened. Trading activity will decline on New Year’s Eve, although the US session will not be as short as it was on Christmas Eve.
Economic news:
Today there are weekly data on the number of applications for unemployment benefits. The forecast assumes an increase in the indicator by 30 thousand, up to 833 thousand in comparison with the result of the previous five days. The US economy is still under pressure from quarantine measures, in connection with which the business continues to actively optimize the number of employees.
Today Top Movers
Aikido Pharma Inc (AIKI) stock ascended 40.69% at $1.21 in the pre-market trading today.
Castor Maritime Inc (CTRM) share price soared 50.34% to $0.35 during early morning trading session on Thursday following the receipt of a notification letter from the Nasdaq granting the Company an additional 180-day extension.
Red Lion Hotels Corp (RLH), a Lodging company, jumped about 30.00% at $3.51 in pre-market trading Thursday after declaring a definitive merger agreement with Sonesta International Hotels Corporation.
Top Upgrades & Downgrades
Credit Suisse turned bullish on Brown & Brown, Inc. (NYSE: BRO), reiterating the stock at “Neutral” but lifting the target from $47 to $50, representing potential upside of 8.10% from Wednesday’s close.
JP Morgan turned bullish on Apartment Income REIT Corp (NYSE: AIRC), initiating the stock at “Neutral” and assigning the target to $43, representing potential upside of 12.00% from Wednesday’s close.
AlphaValue turned bullish on Weibo Corp (NASDAQ: WB), downgrading the stock to “Hold” from Buy and assigning a $44.65 price target.
Latest Insider Activity
Tesla Inc. (TSLA) SVP Powertrain and Energy Eng. Baglino Andrew D announced the sale of shares taking place on Dec 28 at $674.68 for some 1,500 shares. The total came to more than $1.01 million.
Plug Power Inc. (PLUG) Director Kenausis Gregory sold on Dec 28 a total 89,169 shares at $34.65 on average. The insider’s sale generated proceeds of almost $1.91 million.
PDL BioPharma Inc. (PDLI) 10% Owner Silver Point Capital L.P. declared the purchase of shares taking place on Dec 29 at $2.69 for some 268,600 shares. The transaction amount was around $0.72 million.
Conifer Holdings Inc. (CNFR) Director WILLIAMS R JAMISON JR bought on Dec 29 a total 405,458 shares at $2.62 on average. The purchase cost the insider an estimated $26,200.
