(DAILY NOTION): A Mixed Closing on Wall Street, Next Mover: Nonfarm Payrolls, Yellen's Meeting About Retail Trading

NASDAQ 100 (as of Feb 4, 2021 at 12.30 p.m.)

Source: Yahoo Finance

SPX 500 (as of Feb 4, 2021 at 12.30 p.m.)

Source: Yahoo Finance 

US30 (as of Feb 4, 2021 at 12.30 p.m.)

Source: Yahoo Finance

US30 ended the day higher at 0.12%, while the SPX500 gained 0.10%. Meanwhile, the NAS100 experienced a dip of 0.02%. The SPX500 was boosted upwards by the strong performance of Google’s parent company, Alphabet which rose 7.3% after releasing a stellar quarterly sales report.

Meanwhile, GameStop shares closed at 2.7% higher, a far cry from its achievement during the peak of the GameStop saga. A sense of stability is beginning to slowly appear on Wall Street again, as also evidenced by the reducing CBOE Volatility index.

In terms of the economy, President Biden seems set to bypass the Republican leaders to push through his proposed $1.9 trillion stimulus package, as the U.S. Senate has already started the wheels to allow the package to be approved without Republican support. Can the new president clear his first hurdle on the job?

Meanwhile, investors would be keeping an eye out for the results of the nonfarm payroll, that is due for release tomorrow. Although the ADP Employment Report has shown an increase in both private and small businesses employment, a sigh of relief can only be breathed once the actual nonfarm payrolls report are released.

Another interesting update is the fact that the new U.S. Treasury Secretary, Janey Yellen will be meeting top officials this week to discuss the volatility brought upon by the retail trading frenzy. Although the retail trading frenzy appears to be cooling down, it is no guarantee that it will not make a comeback, in one way or another.

Once again, as the week is approaching a close, the important question is: how would Wall Street end this week? 

FOLLOWME User Sentiment (as of Feb 4, 2021 at 12.30 p.m.)

SPX500

Short – 84.77%

Long – 15.23%

NAS100

Short – 80.40%

Long – 19.60%

US30

Short – 75.44%

Long – 25.46%

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