Stimulus Checks
By Mon, Dec 21, 2020
Hey Scoopers,
The stimulus package and checks are getting closer to their final approval in Congress, despite a red day on Friday. — More on that in the “Overall Market” section.
Beyond the overall market, cybersecurity stocks rallied, while a few vaccine stocks had a red Friday. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, from the list of companies announcing their earnings report this week, what are you watching? We’ve got two on our radar. — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
Market Recap
- U.S. markets: Despite a last-minute rally on Friday, all three indices wrapped the week in the red. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price is hovering above the $23,000 range. It seems Bitcoin is getting one more believer. Elon Musk had a quick and strange exchange of ideas about the merits of transferring Tesla’s cash into Bitcoin on Twitter.
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The Stimulus Getting Closer
All three indices finally agreed on the direction and moved up to finish Tuesday at least 1% higher than they started. Of course, COVID-19 vaccination is going slowly and steadily. Also, the news from Apple helped fueled the market forward. The company plans to make 30% more iPhones in 2021, which investors embraced as good news and sent the stock higher at least 4%. Being one of the largest companies on the stock market, it’s 4% upward movement had the strength to move the market as a whole.
Cybersecurity Got Hot Again
So what happened?
Shares of FireEye Inc (Ticker: FEYE) were up by more than 33%. The price rally on Friday is strange. The depth of the attack and the impact is only getting revealed now. FireEye’s CEO told CBS that an estimated 50 organizations or companies got impacted. Nevertheless, Friday turned out to be some sort of rude awakening for stock market investors, as FireEye and several other cybersecurity stocks had an upward rally.
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A Couple of Billion Doses
So what happened?
Shares of Novavax (Ticker: NVAX) were down by more than 5% on Friday. This company is still in the process of developing its vaccine and hasn’t yet got approval. Nevertheless, the government of New Zealand has made an order for 10.7 Million Doses of its COVID-19 Vaccine.
While two other vaccine developers have already been approved and administered to health care workers in the U.S., the world needs several billion doses. Arguably, there is room for several vaccine developers to grow. For those willing to take the risk on a stock that has already grown by more than 3000% in 2020, this might be a chance to pick up shares at a lower price.
What Are You Watching This Week?
So what happened?
Getting so close to Christmas and the new year holidays, not too many companies are left to report their earnings. But, among those reporting, we are watching CarMax (Ticker: KMX) and Paycheck (Ticker: PAYX). What are you watching?
(Source: Stockcard.io)
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
