Weekly in a Glance: US stimulus, impeachment, earnings season
The main events of the past week include the second impeachment of Trump, as well as the stimulus package from Biden.
Trump wanted to make a history; Trump made history. Not as the man who made America great again. But as the first, against whom the impeachment procedure was initiated twice. House of Representatives voted in favor of this on Wednesday. Now it's up to the Senate.
On Thursday, Biden announced his vision for a new stimulus package for the US economy. The planned size is $ 1.9 trillion. On the same day, the head of the Fed, Jerome Powell, confirmed that in the foreseeable future there will be no tightening of monetary policy in the United States and, in general, the year will be a year of rapid economic recovery.
From macroeconomic statistics, it is worth noting a 5% decline in German GDP in 2020, as well as an unexpected and rather strong decline in retail sales in the United States (by 0.7%).
US earnings season kicked off last week. Banks traditionally open it. CitiGroup, JP Morgan, Wells Fargo, as well as Delta Airlines and BlackRock have already reported. And it should be noted that some pretty interesting things were happening. On Thursday, Delta Airlines once again recalled that 2020 was a year of complete failure for the airline industry (the company lost 65% of revenues, continues to generate hundreds of millions of losses, and financially everything is bad). BlackRock, on the contrary, felt like a fish in water and by the end of 2020 added more than 1.2 trillion (!) of AUM to their total assets under management, that is, the company is the largest investment company in the world. And now the question is: which of the companies has grown in price and which has decreased? BlackRock lost about 4.5% (!), while Delta Airlines gained a few percent. Tellingly, this behavior of the markets continued on Friday, as a result of which CitiGroup and Wells Fargo lost about 7% (!) each.
In general, Friday recalled that all attempts to analyze individual assets at any time can be multiplied by 0 with the general movement. A sharp jump in the level of fear on Friday provoked a general rally, classic for such an event, in which investors moved from risky assets. Accordingly, the stock markets and the cryptocurrency market declined, commodity markets fall, but the dollar, on the contrary, felt quite comfortable and demonstrate significant growth.
Trump wanted to make a history; Trump made history. Not as the man who made America great again. But as the first, against whom the impeachment procedure was initiated twice. House of Representatives voted in favor of this on Wednesday. Now it's up to the Senate.
On Thursday, Biden announced his vision for a new stimulus package for the US economy. The planned size is $ 1.9 trillion. On the same day, the head of the Fed, Jerome Powell, confirmed that in the foreseeable future there will be no tightening of monetary policy in the United States and, in general, the year will be a year of rapid economic recovery.
From macroeconomic statistics, it is worth noting a 5% decline in German GDP in 2020, as well as an unexpected and rather strong decline in retail sales in the United States (by 0.7%).
US earnings season kicked off last week. Banks traditionally open it. CitiGroup, JP Morgan, Wells Fargo, as well as Delta Airlines and BlackRock have already reported. And it should be noted that some pretty interesting things were happening. On Thursday, Delta Airlines once again recalled that 2020 was a year of complete failure for the airline industry (the company lost 65% of revenues, continues to generate hundreds of millions of losses, and financially everything is bad). BlackRock, on the contrary, felt like a fish in water and by the end of 2020 added more than 1.2 trillion (!) of AUM to their total assets under management, that is, the company is the largest investment company in the world. And now the question is: which of the companies has grown in price and which has decreased? BlackRock lost about 4.5% (!), while Delta Airlines gained a few percent. Tellingly, this behavior of the markets continued on Friday, as a result of which CitiGroup and Wells Fargo lost about 7% (!) each.
In general, Friday recalled that all attempts to analyze individual assets at any time can be multiplied by 0 with the general movement. A sharp jump in the level of fear on Friday provoked a general rally, classic for such an event, in which investors moved from risky assets. Accordingly, the stock markets and the cryptocurrency market declined, commodity markets fall, but the dollar, on the contrary, felt quite comfortable and demonstrate significant growth.
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