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What Did the Stock Market Do? Jan. 19, 2021

Latest Updates:

Stocks Close Out Tuesday in the Green

[Tuesday, January 19, 4:02 pm]
Contributed by Sarah Smith

  1. The S&P 500 closed higher by 0.81%
  2. The Dow Jones Industrial Average closed higher by 0.38%
  3. The Nasdaq Composite closed higher by 1.53%
  4. The Russell 2000 closed lower by 1.32%

3D Printing Stocks Promise Big Gains

[Tuesday, January 19, 3:55 pm]
Contributed by Sarah Smith

3D printing stocks ExOne (NASDAQ:XONE), Stratasys (NASDAQ:SSYS), 3D Systems (NYSE:DDD) and Desktop Metal (NYSE:DM) are on the move today. That is because Stifel analyst Noelle Dilts initiated coverage on the group, giving all but DDD bullish ratings. Citing growing interest in 3D printing, or additive manufacturing as many in the industry call it, Dilts sees all four stocks as future winners. Increased demand and improving technology will boost these stocks. And even 3D Systems, to which she assigned a neutral rating, has long-term potential.

Experts like our InvestorPlace analyst Luke Lango agree. For more, read our brief on 3D printing stocks here.

4 Stocks to Buy for the Long-Term Digital Fitness Trend

[Tuesday, January 19, 2:49 pm]
Contributed by Sarah Smith

Do you remember the start of the pandemic? Gyms closed. Consumers started working out in parking lots, in crowded studio apartments, and some even invested in luxury home fitness equipment. I personally started taking more walks than ever before! At the time, it seemed certain that this was nothing but a short-term way of coping with Covid-19. Fitness lovers were itching to get back into the gym, even going so far as to protest out front of a Florida courthouse.

Now though, it seems that digital fitness offerings are here to stay. Consumers have fallen in love with the convenience of equipment from Peloton (NASDAQ:PTON) and Lululemon (NASDAQ:LULU), which is both an athleisure provider and the parent of fitness tech brand Mirror. Apple (NASDAQ:AAPL) entered the race with its fitness subscription. And then Planet Fitness (NYSE:PLNT) started to ramp up its digital offerings.

From Planet Fitness CEO Chris Rondeau, via CNBC:

“Digital home fitness, I don’t believe, is something that will ever replace bricks and mortar. I do think, however, digital has been adopted like lightspeed, and I think it’s probably here to stay.”

With that in mind, make sure to keep PTON, LULU, AAPL and PLNT on your radar as at-home fitness plays. When the world reopens, the convenience of living room workouts just may win.

Midday Update: Major Indices Remain Positive

[Tuesday, January 19, 12:33 pm]
Contributed by Sarah Smith

  • The S&P 500 is up 0.65%
  • The Dow Jones Industrial Average is up 0.4%
  • The Nasdaq Composite is up 1.07%
  • The Russell 2000 is up 0.84%

Ethereum Hits New All-Time High

[Tuesday, January 19, 12:30 pm]
Contributed by Sarah Smith

Ethereum (CCC:ETH) hit a new all-time high this morning, establishing a new record at $1,439.33. Crypto bulls will note that the move comes alongside broad support for the space, especially as President-elect Joe Biden unveils a $1.9 trillion stimulus plan.

For more, read the InvestorPlace.com brief on ethereum price predictions here.

Hydrogen Stocks Trek Higher Ahead of Inauguration

[Tuesday, January 19, 11:07 am]
Contributed by Sarah Smith

President-elect Joe Biden will take office this week, and hydrogen stocks are celebrating. In fact, leading names like Plug Power (NASDAQ:PLUG), FuelCell Energy (NASDAQ:FCEL), Fusion Fuel (NASDAQ:HTOO) and Bloom Energy (NYSE:BE) are trekking higher today. This is because many investors see Biden as a particularly pro-climate president. And based on his agenda for just his first few days in office, he will be an historically pro-climate leader. This week he will rejoin the Paris climate deal, and also looks likely to scrap permits for the Keystone XL pipeline. These moves should broadly invigorate bulls in alternate energy and other green stocks.

But where do hydrogen plays specifically come in? The Biden plan calls for massive investments in clean energy infrastructure, potentially including the buildout of hydrogen charging stations. Additionally, the Department of Energy announced a new $160 million federal investment in hydrogen technology ahead of the inauguration.

For more, read the InvestorPlace.com brief on hydrogen stocks here.

Major Indices Launch Tuesday Higher

[Tuesday, January 19, 9:31 am]
Contributed by Sarah Smith

  • The S&P 500 opened higher by 0.75%
  • The Dow Jones Industrial Average opened higher by 0.8%
  • The Nasdaq Composite opened higher by 1.03%
  • The Russell 2000 opened lower by 1.49%

3 Big Stories to Watch

[Tuesday, January 19, 9:18 am]
Contributed by Sarah Smith

  1. Stimulus… and inflation. This week brings the inauguration of President-elect Joe Biden, and a whole lot more attention to his $1.9 trillion stimulus proposal. Biden unveiled the plan last week, showcasing direct payments of $1,400, enhanced federal unemployment benefits and increased spending on mass Covid-19 vaccination. Although the plan did not immediately boost the stock market, futures suggest that stimulus optimism is playing out today. Plus, former Federal Reserve Chair Janet Yellen will go before the Senate Finance Committee today as part of the confirmation process for her nomination to run the Treasury Department. There, she too will back the necessity of the robust stimulus plan and try to ease fears of inflation and government debt.
  2. Wall Street goes green. Biden plans to kick off his first week in full force. He plans to scrap the permit for the Keystone XL pipeline and rejoin the Paris climate deal in his first few days. Those steps, along with his historic climate plan, have a group of so-called green stocks rallying on Tuesday. Names to watch include hydrogen plays like Plug Power (NASDAQ:PLUG) and FuelCell (NYSE:FCEL), along with newcomer Fusion Fuel (NASDAQ:HTOO). Investors continue to hope that backing from Biden will mean increased visibility, increased consumer adoption and increased demand for these alternate energy solutions.
  3. Vaccines. A big theme in recent days is that Covid-19 vaccination in the United States is not going according to plan, largely due to administrative hang-ups. However, Biden is betting big that he can vaccinate 100 million Americans in the next 100 days. At his side is Dr. Anthony Fauci, the leading infectious disease expert, who says this plan is feasible. Also worth noting is that last week, Johnson & Johnson (NYSE:JNJ) shared updates on its Covid-19 vaccine candidate. According to the reports, the candidate is safe and effective in triggering an immune response. Johnson & Johnson should be sharing more updates later this month, and plans to seek authorization soon after.

Catch Up Quick: Top SPAC Merger News

[Tuesday, January 19, 8:12 am]
Contributed by Sarah Smith

If the long weekend has you feeling out of touch with the stock market, you may want to dive into all things related to special purpose acquisition companies. Why? Well, last week saw no shortage of news, with all sorts of rumors and actual headlines driving SPAC stocks higher. Additionally, SPAC merger news already looks ready to influence the market today. Leading equities include Churchill Capital IV (NYSE:CCIV), the blank-check company allegedly bringing Lucid Motors public, and Social Capital Hedosophia V (NYSE:IPOE), the blank-check company behind the SoFi deal.

Want to learn about those deals and more? You can read the InvestorPlace.com roundup of SPAC merger news here.

Stock Market Futures Point to Higher Open

[Tuesday, January 19, 7:42 am]
Contributed by Sarah Smith

  • S&P 500 futures are up 0.7%
  • Dow Jones Industrial Average futures are up 0.59%
  • Nasdaq Composite futures are up 0.9%
  • Russell 2000 futures are up 1.09%
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