Updated Jan. 13, 2021 4:47 pm ET
U.S. stocks wobbled Wednesday, swinging between small gains and losses for most of the session, as investors monitored the impeachment proceedings against President Trump in Washington.
House lawmakers voted shortly after the stock market closed to impeach the president for inciting last week’s Capitol riot, just days before he is due to leave office. While the political rancor has weighed on market sentiment in recent days, most money managers are looking past the developments in Washington to focus on the prospects for additional fiscal stimulus.
“The market is largely focusing on the fundamentals around a Biden administration,” said Willem Sels, global chief investment officer at HSBC Private Banking.
Wall Street is disappointed that
Visa won’t be merging with fintech upstart Plaid, after both companies canceled the deal due to antitrust opposition.
But analysts still see plenty of reasons to own Visa (ticker: V) and its chief rival
Mastercard (MA), maintaining that the underlying dynamics for the stocks a global economic recovery, rebound in cross-border travel, and adoption of digital payments may only be accelerating.
Visa’s acquisition of Plaid would have helped the card network maintain its dominance in online debit transactions, adding about a percentage point a year to revenue. It could also have opened up new revenue streams for Visa in open-banking and financial-data networks.
Starting Over: 5 Ways to Reset Your Money Goals in 2021
One time, Mama Hogan looked at me and said, “Christopher” she had my attention when she said my full name “I don’t ever want you to be a ‘been’ brother.” I said, “Huh?” She explained: “A coulda been, shoulda been, woulda been kind of person. You have an opportunity to change some things and make progress.”
Listen up, people. We’ve all been “been brothers” from time to time wishing we’d done things differently or beating ourselves up for past mistakes. And there’s one area we carry a lot of regret: money. Maybe you’re looking at your financial situation and starting to get upset. You might be thinking,
Press Release January 13, 2021 Signify returns solidarity contribution to employees, proposes extraordinary dividend of EUR 1.35 per share and commits to further debt reduction, based on robust