📈 Stock Market Today: Political Chaos and Impeachment – And Markets Don't Care?

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Today’s Stock Market | January 13, 2021

Here’s what happened in the stock market today, Wednesday, Jan 13th – in 4 minutes or less

Stocks didn’t do much today and just went sideways.
Let’s take a look at all the indices:
The Dow is down 31 points or 0.10%, the S&P 500 is up 0.23%, and the NASDAQ is the winner today – up 0.63%.

But overall it was a lackluster trading day.

So what happened today?

Shares of Alibaba (BABA) moved higher today after the Wall Street Journal reported that this Chinese company will not be banned from the U.S. exchanges.

Musical chairs:

Shares of Intel (INTC) popped more than 12% in the premarket after reports that CEO Bob Swan would step down, effective Feb. 15. He will be replaced VMWare (VMW) CEO Pat Gelsinger. VMW is down 7.5%.

So what are traders focused on right now? – 2 things:

1.) On Friday, Earnings Season is kicking off, and we will learn how companies did in the previous quarter when Coronavirus cases were on the rise.

2.) We have political concerns:
The House of Representatives asked VP Mike Pence last night to invoke the 25th Amendment to remove President Trump from power. But Mike Pence refused, so the House is voting on impeachment today.

Next Wednesday is Inauguration Day, and after last week’s violent protests at the Capitol, there are a lot of concerns over more unrest. The White House Press Office released a statement from President Donald Trump today in which he asked his supporters to be peaceful at demonstrations around the country, but will they listen? If we see more violence next week, it could send the markets sharply lower.

But for now, markets are in a “wait and see” pattern and are desperately looking for impulses.

This wraps up today’s stock market news in 4 min or less.
If you enjoyed the “Stock Market Today” video, make sure to subscribe to this channel.

For more stock market news, visit https://rockwelltrading.com.

#todaysstockmarket #stockmarkettoday #whathappenedinthemarkets
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Comments

Andi S says:

If you can cover what news/event will happen tomorrow, that would be great !

apfelsnutz says:

I'm finally starting to move… probably after the end of the week (15th Jan). I watch all of these ! Thanks Markus !

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