Reeeeeeeeecap of today's and recent market driving news (Jan 19, 2021)
* The market performed strongly today with tech stock leading the way. Big tech such as FB and GOOGL closed up 3.9% and 3.3%, while MSFT closed up almost 1.8%. Conversely, select sectors were punished today as a rotation of sort occurred. Retail/consumer storefront took a beating with WMT down -0.86%, COST down -2.12%, TGT down -3.41%, DG down -2.54%, and BBY down -2.11%.
* It's another spectacular pump day for WSB cult gang as a new religion is formed where GME is the deliverance and the Moon (or Mars?) is the promised land. From fractional shares to irresponsible six figure plays near the recent top, the GME hype is so overwhelming that even WSB has quarantined them into a specific thread. GME opened at a strong 15%+ and went as high as 25%+ intraday to $45.52 but a tweet by Andrew "tool bag" Left of Citron at 9:58 AM derailed the party and sent shares under $37 before the bull run continued. Shares of GME closed $39.36, up 10.87% as shorts continue to be squeezed, though the momentum has clearly be snapped a bit.
* Over at BB land, shares of BlackBerry Ltd. pumped another 25% as the market continues to shift the company's valuation as the Canadian company chugs on with their focus on enterprise security software/service. BB closed up 25.51% to $12.35.
* NFLX reported stellar numbers as sub count tops 200 mil. New net sub numbered in 8.5 mil, an uptick of 2.2 mil from the previous quarter and beats previous projection of 6 mil by 2.5 mil. NFLX sees Q1 additions of 6 mil. While Q4 EPS was $1.19 vs $1.39, NFLX sees Q1 EPS of $2.97 vs consensus of $2.10, further propelling the stock. Implied move was about 8% for weeklies so for those who YOLO'ed you're gucci as long as you didn't buy some retardedly OTM strike. NFLX is up 12.5% as of writing in AH to $564. DIS is up 2% AH and ROKU is up about 1.6%.
* GM pumped more than 9% today on news of MSFT 2 bil investment in GM's self-driving startup Cruise, valuing the side hustle at 30 bil. The boomer stock has low-key been killing it in the past few years and as Model 3 replaces the entry-level 3 series and C class in various neighborhoods, you'll likely see GM EVs replacing various Hondas and Toyotas in the coming years as well. GM closed up 9.75% to $54.84.
* Bank/financial earnings continues with BAC and GS reporting this morning. Both reported strong quarters tho the run-up may have been a bit too much as both underlyings faced the same sell-off pressure their sector faced last Thursday. BAC authorized a 2.9 bil repurchase plan, shares closed the day down slightly -0.73% to $32.77 while GS closed -2.26% to $294.
* Incoming Treasury Secretary Janet Yellen urges Biden to act big to further help the rona punished economy, but also made some notes on raising corporate rates eventually (once the US overcomes rona). With Yellen set to replace Mnunchin, those who enjoyed Mnunchin's various stimulus phone tag with Pelosi will no doubt miss the "stimulus talks are going well" pumps.
* Shares of home builders reacted favorably to Biden's $15,000 first-time homebuyer tax credit proposal, though it will likely face an uphill battle in Congress given the various scope and size of the overall stimulus package. LEN is up 2%, DHI up 2.8%, PHM up 3%, NVR up 3.74%, and KBH up 5.5%.
* In WSB meme stock land not named GME and BB, ICLN closed up 2.75% as the cleantech pump resumes, while MT took a beating of -4% to closed at $22.96, despite a slight PT raise of .5 Euro by Morgan Stanley. Surely metal gang won't be another tanker gang situation.
* In recent IPO land, DASH is up 6.20% to $198 (yeah this 60 bil market cap makes tote sense), AFRM is down -5.14% to $110, AI pulled back -5.46% to $126, and ABNB closed up 2.61% to $173.
* The DOW closed up 0.38% or 116 pts, Nasdaq up a strong 1.53% or 198 pts, SPX up 0.81% or 30 pts, and RUT is up 1.32% or almost 28 pts.
* Notable ERs and numbers later this week: UAL, DFS after market close on Wednesday and INTC on Thursday after market close. Housing market index on Wednesday morning at 10 AM ET, jobless claims at 8:30 AM on Thursday, and on Friday PMI at 9:45 AM ET with existing home sales soon to follow at 10 AM ET.
(Yesterday's recap: none as it was a holiday you addict. You can read last Thursday's recap [here](https://www.reddit.com/r/wallstreetbets/comments/kxf5mf/reeeeeeeeecap_of_today_and_recent_market_driving/).)