Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
US Senate Majority Leader Mitch McConnell has agreed to resume negotiations with the Democrats over a potential new coronavirus stimulus bill according to Senate Minority Leader Chuck Schumer.
Equities have rallied on the back of the news with the Dow up 0.10%, the S&P up 0.31% and the Nasdaq trading 0.83% higher.
Despite a Muddy Waters research report branding the company a “a multibillion-dollar fraud,” JOYY Inc has managed to regain some of yesterday’s losses and are currently up 15% at $85.21 per share.
“Shares of Nikola (NASDAQ: NKLA) gained over 15% yesterday after General Motors accidentally revealed on its website that a partnership agreement has been signed.”
Nikola Shares are up over 4% so far today…
FTSE 100 -0.77%
STOXX 50 -0.90%
IBEX 35 -0.57%
CAC 40 -0.67%
Shares of electric-vehicle companies are on the rise today…
Tesla +3.80% $505.11
Nikola +7.83% $27.41
NIO +5.19% $47.40
AYRO +34.43% $5.70
Workhorse +2.50% $23.40
Tesla shares have ticked up to a new record high of $507, up 4.18% from yesterdays closing price of $486.64.
Sonos Inc (NASDAQ: SONO) shares are driving higher, currently up 27.33% at $21.6 after the company’s year forecast exceeded expectations.
Sonos’ Q4 EPS was $0.33 compared to $0.15 last year. Its revenue increased 16% year over year to $339.8 million.
The company sees FY21 revenue between $1.44B-$1.5B.
They also announced a $50 million stock repurchase program and the completion of a previous stock repurchase program.
Velocity Composites +28.57%
Somero Enterprise +23.27%: Somero releases a trading report upgrading full-year 2020 guidance.
Mirada Plc +19.33%: Mirada announces the integration of Disney+ into its Iris multiscreen product.
Headlam Group +14.72%: Headlam releases trading update stating that it has seen a sustained and strong recovery to 2019 levels following Q2.
Some of the companies reporting earnings today:
FTSE 100 -0.76%
STOXX 50 -0.66%
IBEX 35 -1.22%
CAC 40 -0.67%
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