The market continues to watch for a response to the riots on Capitol Hill last week, which many say were encouraged by the President. Meanwhile, President-Elect Joe Biden is to be inaugurated on Jan. 20, and he, along with the Democratic-controlled Congress, plans to implement at least hundreds of billions of dollars of more fiscal stimulus to support the economic recovery. Twitter (TWTR), off 7.9%, and Facebook (FB), down 2.4%, were falling after blocking the president’s accounts.
Beyond politics, Covid cases continue to rise, and one of the major risks to stocks at this point is that vaccines prove less effective than initially thought or that their distribution remains behind schedule.
Here were some stocks on the move:
Lululemon Athletica (LULU) fell almost 3% even after the company said earnings would grow at the high end of its previous guidance.
Walgreens Boots Alliance (WBA) rose 1% after Baird upgraded the stock to Outperform from Neutral.
Zillow Group (ZG) rose 0.3% after Jefferies upgraded to Buy from Hold and raised its price target to $175 from $120.
Eli Lilly (LLY) has jumped 14% after releasing optimistic data from a Phase 3 trial of its Alzheimer’s drug.
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