U.S. stock futures were trading mildly higher early Tuesday as market participants kept a close eye on Washington, where House Democrats have introduced an article of impeachment against President Donald Trump for the second time, charging him with an “incitement of insurrection.” Tesco PLC (LON:TSCO) has said it will stop anyone from entering its shops without a facemask unless they have a recognised medical condition.
Rival grocer Morrisons (LON:MRW) said yesterday it would ban shoppers not wearing masks from its outlets, while Sainsbury’s (LON:SBRY) is to bring in security guards to challenge those not wearing […] Largest Dark Web Market Taken Offline as Alleged Operator Arrested in Germany – Crypto News Cloud A quick overview of major market-moving events including economic reports and high-profile earnings scheduled for Jan 12
U.S. stock futures were trading mildly higher early Tuesday as market participants kept a close eye on Washington, where House Democrats have introduced an article of impeachment against President Donald Trump for the second time, charging him with an “incitement of insurrection.”
At 5:50 a.m. ET, futures tied to the blue-chip Dow rose 67 points, or 0.22% to 30,969. Those for the S&P 500 gained 9.62 points, or 0.25% to 3,801.62 while the technology-dominated Nasdaq 100 futures were up 46 points, or 0.36% to 12,943.
While Trump has only a few days left in his term before Joe Biden takes over, Democrats said he must face serious denouncement for his role in the violent attack on the Capitol building last week.
Democrats plan to vote today on a resolution to remove the president under the 25th Amendment.
Speaker Nancy Pelosi said in a statement on Monday that the House “will move forward with bringing impeachment legislation to the Floor,” if Vice President Mike Pence does not respond to the resolution within 24 hours.
A vote on impeachment is likely to happen on Wednesday.
Shares in Cantel Medical (NYSE: CMD) rose in the pre-market trading Tuesday after the medical supplier announced an agreement to be bought by Steris (NYSE: STE) in a cash and equity transaction worth $4.6 billion, including debt.
Under the agreement, Cantel shareholders will receive $16.93 in cash and 0.33787 Steris shares for each Cantel share they own, the companies said in a joint statement.
The companies said they expect annualized cost synergies of roughly $110 million by the fourth year after finalizing the deal.
Cantel stock jumped 1.3% to $85.75 a share in pre-market trading, while Steris dropped 1.2% to $198 a share.
Parler has filed a lawsuit against Amazon (NASDAQ: AMZN) after the tech giant abruptly booted the social media app from its cloud platform.
In a suit filed in Seattle federal court Monday, the conservative-friendly app alleged that Amazon removed it from its cloud servers for political and anti-competitive reasons.
“AWS’s decision to terminate Parler’s account is apparently motivated by political animus,” Parler said in the complaint. “It is also apparently designed to reduce competition in the microblogging services market to benefit Twitter.”
Amazon claims it ended its web-hosting agreement with Parler because the app was full of content promoting violence.
Amazon’s decision to end ties with the network followed similar moves by Apple (NASDAQ: AAPL) and Alphabet (NASDAQ: GOOG) subsidiary Google to kick the site from their app stores.
Author: Joe A
Tesco and other grocers join ban on shoppers without facemasks
Tesco PLC (LON:TSCO) has said it will stop anyone from entering its shops without a facemask unless they have a recognised medical condition.
Rival grocer Morrisons (LON:MRW) said yesterday it would ban shoppers not wearing masks from its outlets, while Sainsbury’s (LON:SBRY) is to bring in security guards to challenge those not wearing coverings or shopping in groups.
Tesco said that it already has extensive social distancing measures in its stores, but from today only those who are medically exempt will be allowed in without a mask.
“We are also asking our customers to shop alone, unless they’re a carer or with children,” a spokesman was reported as saying.
Asda and Waitrose also said they said they would enforce the wearing of facemasks, though Asda said it would continue to offer them one free of charge.
However, “if a customer refuses to wear a covering without a valid medical reason and be in any way challenging to our colleagues about doing so, our security colleagues will refuse their entry,” a spokesman told the BBC.
Andrew Murphy, executive director of operations at Waitrose, said there had been a clear change of tone in recent days.
A surge in the number of cases of Covid-19 in the UK has already prompted Professor Chris Whitty, England’s chief medical officer, to warn that the country is at the worst point of the pandemic so far.
Reports over the weekend suggested a further tightening of restrictions is being considered by the government to try to halt the rising tide of deaths and infections.
That might include a ban on click and collect services everywhere except for essential retailers to stop people queuing too closely together while waiting to pick up items such as takeaways and online purchases.
A requirement for everyone to wear face coverings when they go outside is another option under consideration, while a pause on house moves is also said to be on the agenda.
Underlining the difficult balancing act facing the government, Andrew Bailey, the governor of the Bank of England, warned today that the latest Coviid-19 lockdown had put the economy in a very difficult position and the new restrictions would likely delay a recovery.
Bailey said the economy would still recover but only after the lockdown had ended and worries over the spread of the virus ease.
Shares in Tesco eased 1.3% to 241.3p.
Largest Dark Web Market Taken Offline as Alleged Operator Arrested in Germany
A 34-year-old Australian man accused of running the world’s largest dark web marketplace has been arrested by German authorities close to the Danish border.
According to a report from Europol on Wednesday, the DarkMarket site was taken offline on Monday following a probe by German investigators with the assistance of Europol and seven other nations.
The illegal site had processed more than 320,000 transactions, had close to 500,000 users and over 2,400 vendors. More than 140 million euros (around US$170 million) in bitcoin and monero had changed hands on the site.
Various drugs, forged or stolen credit cards, anonymous SIM cards and malware made up some of the goods for sale on the site.
As part of the operation, more than 20 servers in Moldova and Ukraine have been seized. According to an ABC News report, police said the closure of DarkMarket follows on from a 2019 investigation into a server located in a former NATO bunker discovered in south-western Germany. It was found to have been hosting other illegal sites, including DarkMarket at one stage.
Authorities from the U.S., Australia, the U.K, Denmark, Switzerland, Ukraine and Moldova assisted in the months-long operation.
The Australian operator, who has not been named, is being held in custody pending charges after an order from a judge and has yet to provide information to investigators.
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Today’s Stock Market News & Events: 1/12/2021 – Schaeffer’s Investment Research
Traders kept their attention focused on last week’s election turmoil and the ever-present promise of more Covid-19 stimulus relief throughout yesterday’s trading session. News that House Speaker Nancy Pelosi has called for the impeachment of President Donald Trump also rippled through Wall Street on Monday. Investors seem to have begun bracing themselves for a possible market correction, following last week’s slew of record highs.
The Dow Jones Industrial Average (DJI – 31,008.69) dropped 89.3 points on Monday. The S&P 500 Index (SPX – 3,799.6) dropped 25.1 points and the Nasdaq Composite (IXIC – 13,036.43) dropped 165.5 points yesterday. The Cboe Volatility Index (VIX – 24.08) jumped 11.7% during Monday’s trading session.
Today’s trading session activity will pick up, featuring the NFIB small-business index, as well as the latest job openings report.
The following companies are slated to release quarterly earnings reports today, January 12:
Albertsons Companies, Inc. (NYSE:ACI — $16.75) operates as a food and drug retailer in the United States. Albertsons will report its third-quarter earnings of 2020 before the bell today.
KB Home (NYSE:KBH — $33.71) operates as a homebuilding company in the United States. KB Home will report its fourth-quarter earnings of 2020 after the market closes today.
Here is a quick recap of how Monday’s earnings reports played out:
AZZ, Inc. (NYSE:AZZ — $49.40) provides galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services. Earnings per share were down 4.76% year over year to $0.80, which beat the estimate of $0.66. Revenue of $226,623,000 declined by 22.16% from the same period last year, which missed the estimate of $234,440,000.
Commercial Metals Company (NYSE:CMC — $22.56) manufactures, recycles, and fabricates steel and metal products, and related materials and services. Earnings per share fell 20.55% over the past year to $0.58, which beat the estimate of $0.54. Revenue of $1,392,000,000 up by 0.51% from the same period last year, which beat the estimate of $1,340,000,000.
SYNNEX Corporation (NYSE:SNX — $86.90) provides business process services. Earnings per share went up 22.30% over the past year to $5.21, which beat the estimate of $3.83. Revenue of $7,410,000,000 up by 12.61% from the same period last year, which beat the estimate of $6,455,592,000.
Looking ahead to tomorrow, the excitement continues as Wall Street will feature CPI and core CPI data. In addition, the Federal Reserve’s latest “Beige Book” report is due out, as is federal budget data.
The U.S. stock market will be operating on a shortened schedule next week. The Nasdaq and New York Stock Exchange will both be closed on Monday, Jan. 18, in observance of Martin Luther King Jr. Day. A normal trading session will resume on Tuesday, Jan. 19, starting at 9:30 a.m. ET.
All economic dates listed here are tentative and subject to change.
Author: Schaeffer’s Digital Content Team