Markets open in the red again, awaiting the Fed and tech company results

January 27, 2021 15:00

Yesterday’s increases across the main European stock indices seem to have been short-lived. The stock exchanges have turned red once again, after the International Monetary Fund (IMF) lowered its growth prospects for Europe for this year, while the restrictions to stop the Covid-19 contagion are extended by several countries. 

The index which fell the most is the Italian FTSE MIB, with more than 1%. This comes from their political crisis, after experiencing after the resignation of Prime Minister Giuseppe Conte, with this adding to four prior days of falls over the last five trading days.

Wall Street also announced falls, despite positive results from some companies such as Microsoft or GameStop. Investors are awaiting this afternoon’s appearance of the chairman of the Federal Reserve, Jerome Powell, as well as the results from Apple, Tesla, and Facebook at the market close. All of them are trading at historic highs, so it will be necessary to see if, after the 2020 results, they continue to rise.

Source: Admiral Markets MetaTrader 5. Weekly CFD Facebook Chart. Data range: from May 31, 2015 to January 27, 2021. Prepared on January 27, 2021 at 1:00 p.m. CET. Keep in mind that past returns do not guarantee future returns.

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