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7 Stocks To Watch For February 3, 2021
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The end of January is reserved for learning how tech and e-commerce companies did during the holiday season. More precisely, all FAAMG stock, namely
Alphabet Inc (NASDAQ: GOOG)(NASDAQ: GOOGL),
Apple Inc (NASDAQ: AAPL),
Facebook, Inc. (NASDAQ: FB),
Amazon.com, Inc. (NASDAQ: AMZN), and
Microsoft Corporation (NASDAQ: MSFT), have now shown just how much they crushed the holiday season.
Amazon s Blockbuster Quarter
Amazon has beaten the revenue expectations for the past consequent seven quarters, pushed by COVID-19 driven e-commerce and cloud business. The previous two quarters had the most impressive realization in revenues compared to the expectations and this time around, Amazon delivered its largest quarter by revenue of all time, generating $125.56 billion in sales. Since the amount of US online purchases grew 32% to $188 billion during this record-breaking holiday season, no wonder Amazon had its first $100 billion quarter, with revenue increasing 44% from last
Impact Of COVID-19 on E-Retail Market
According to the report given by the United Nations Conference on Trade and Development, the pandemic has surged the shift towards an online and a more digital world. There have been significant changes in online shopping behaviours, which would last for a longer period. The report and survey covered Turkey, Switzerland, South Africa, Russia, South Korea, Italy, Germany, China, and Brazil. The survey stated that online purchases increased by around 6 to 10% points across considerable product categories. The biggest gainers of the pandemic were Personal care and cosmetics, food and beverages, pharmaceutical and health, electronic goods, media and books, and others. The report also stated that average online spending per month dropped at a significant rate. There was an acceleration in the purchase of essential products such as medicines, cosmetics, and food and beverages.
A Peek Into The Markets: US Stock Futures Up; Alphabet, Amazon Report Upbeat Earnings Benzinga 2/3/2021
Pre-open movers
U.S. stock futures traded higher in early pre-market trade after the Dow Jones added 475 points in the previous session. Investors are awaiting earnings reports from Humana Inc (NYSE: HUM) and Paypal Holdings Inc (NASDAQ: PYPL), Metlife Inc (NYSE: MET), eBay Inc. (NASDAQ: EBAY).
The ADP’s national employment report for January will be released at 8:15 a.m. ET. US Services Purchasing Managers Index for January is scheduled for release at 9:45 a.m. ET, while the ISM s services index for January will be released at 10:00 a.m. ET. Minneapolis Fed President Neel Kashkari is set to speak at 8:30 a.m. ET, while Federal Reserve Bank of St. Louis President James Bullard will speak at 1:00 p.m. ET. Philadelphia Fed President Patrick Harker is set to speak at 2:00 p.m. ET, while Federal Reserve Bank of Cleveland President Loretta Mester will speak at 5:
Boeing Company (The) (NYSE:BA), Alibaba (NYSE:BABA) - Halftime Report Traders Weigh In On Twitter, Alibaba And More
benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
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