Dow Jumps 100 Points and BlackRock, Delta Beats Profit Expectations Amid Deteriorating Jobs Data

Dow Jumps 100 Points and BlackRock, Delta Beats Profit Expectations Amid Deteriorating Jobs Data

The fourth quarter is starting to prove it was good for businesses and their bottom line, but new jobs data shows hundreds of thousands of Americans still face new financial challenges every week – and experts say as the economy will only get worse with Covid-19 cases continue to hit new records. “The stock market is not the economy – as was often emphasized throughout 2020 – but even the largest companies rely on a stronger economy to continue to grow their revenues,” said Chris Zaccarelli, chief investment officer of Charlotte, North Carolina. Alliance of independent advisers. “Unfortunately, the economy will continue to deteriorate as the virus count continues to move in the wrong direction, but once we get through the winter and warmer weather returns, we should see improvements.” President-elect Joe Biden is expected to release details of his new stimulus package at 7:30 p.m. EST. The package is expected to total up to $ 2 trillion, with a high price tag underscoring the extreme hardships faced by millions of Americans. Meanwhile, JPMorgan Chase, Wells Fargo and Citigroup report their results Friday morning, when retail sales data is also expected to be released. Shares of Affirm, up 5% on Thursday, soared nearly 100% on the first day of trading for fintech lender on Wednesday, the industry’s newest billionaire CEO Max Levchin.

Highlights

  • According to Forbes “Dow jumps 100 points and BlackRock, Delta beats profit expectations amid deteriorating jobs data.”
  • “The stock market is not the economy – as was often emphasized throughout 2020 – but even the largest companies rely on a stronger economy to continue to grow their revenues,” said Chris Zaccarelli, chief investment officer of Charlotte, North Carolina. Alliance of independent advisers. “Unfortunately, the economy will continue to deteriorate as the virus count continues to move in the wrong direction, but once we get through the winter and warmer weather returns, we should see improvements.”

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