Stock Market Live Updates Tuesday: Washington, Vaccines in Focus

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Latest Updates:

Major Indices Close Tuesday Out Higher

[Tuesday, January 12, 4:10 pm]
Contributed by Sarah Smith

  • The S&P 500 closed higher by 0.04%
  • The Dow Jones Industrial Average closed higher by 0.19%
  • The Nasdaq Composite closed higher by 0.28%
  • The Russell 2000 closed higher by 1.77%

Afternoon Update: S&P 500 Dips

[Tuesday, January 12, 2:49 pm]
Contributed by Sarah Smith

  • The S&P 500 is lower by 0.07%
  • The Dow Jones Industrial Average is higher by 0.06%
  • The Nasdaq Composite is higher by 0.09%
  • The Russell 2000 is higher by 1.45%

Hydrogen Stocks Get a Boost

[Tuesday, January 12, 2:40 pm]
Contributed by Sarah Smith

Hydrogen stocks Plug Power (NASDAQ:PLUG) and FuelCell Energy (NASDAQ:FCEL) are racing higher on Tuesday. Why? There are several catalysts boosting hydrogen stocks and the broader alternative energy space. To start, President-elect Joe Biden has big plans for investing in sustainable energy infrastructure. With his plan for $2 trillion in clean energy investments, many see a clear path to success for hydrogen fuel cell companies. Plus, Biden comes into office at a time when more consumers than ever are found of eco-friendly options. For companies like Plug Power and FuelCell, that means lots of potential new adopters.

Lastly, PLUG stock is soaring thanks to some company news today. In a press release, Plug Power shared it had entered into a joint venture with Groupe Renault. As a result, the two companies will work together to expand into the European market. According to executives from both companies, this is a great chance to expand, gain dominance, and build up research and development skills. For more, read the brief on PLUG stock here.

Experts: Pullback in Bitcoin Is Perfectly Healthy

[Tuesday, January 12, 11:45 am]
Contributed by Sarah Smith

Bitcoin (CCC:BTC) remains off its all-time high levels, but the leading cryptocurrency has started to rebound. At the time of this writing, it was trading hands for roughly $34,700, after plunging closer toward $30,000 on Monday.

What should investors do here? Yesterday, much of the conversation centered around whether a so-called cryptocurrency bubble had burst. Although some bears took the pullback as a sign in their favor, many experts remain bullish on cryptocurrencies. InvestorPlace analyst Matt McCall is one of those experts. Leading into 2021, he was confident bitcoin would soon hit $40,000. With that milestone out of the way, he remains confident that $100,000 will soon follow.

Just this morning, CoinDesk appeared to echo those thoughts. Acknowledging price movements in recent days, CoinDesk writers affirmed that the correction is healthy and normal. With that in mind, investors should start looking toward $100,000.

Major Indices Open Tuesday Slightly Higher

[Tuesday, January 12, 9:32 am]
Contributed by Sarah Smith

  • The S&P 500 opened higher by 0.13%
  • The Dow Jones Industrial Average opened higher by 0.07%
  • The Nasdaq Composite opened higher by 0.22%
  • The Russell 2000 opened lower by 0.03%

3 Big Stories to Watch

[Tuesday, January 12, 9:26 am]
Contributed by Sarah Smith

  1. Vaccines. I will start with the bad news. Right now, the mass vaccine rollout in the United States is occurring much slower than officials anticipated. Citing administrative challenges, personnel shortages and storage quirks, states are still working to ramp up vaccinations. Last night, Health and Human Services Secretary Alex Azar acted behalf of the President Donald Trump administration to change that. According to Azar, states should now move to vaccinate anyone 65 years or older, and anyone at high risk. To do this, states will no longer hold back the second of the two doses. This is similar to a proposal by President-elect Joe Biden that calls on states to prioritize getting out first-round vaccines. The good news? Disney (NYSE:DIS) is seeing its shares climb slightly higher on news its Disneyland park will be a hub for vaccinations.
  2. Big Tech. Following the chaos at the U.S. Capitol last week, leading tech companies like Amazon (NASDAQ:AMZN), Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) are in the spotlight. At question is how these companies should respond — and what it means for the future of Big Tech. Investors punished Twitter yesterday for permanently suspending Trump. Facebook has also suspended Trump, at least until his term is officially over. Amazon is under fire after its AWS withdrew support for Parler, a social media platform popular with conservatives. But what does this all mean for investors? Yesterday saw Big Tech shares pull back, but TWTR is starting to trek higher in pre-market trading.
  3. Impeachment. What is happening in Washington? And what does it mean for investors? Yesterday we got a taste of the uncertainty involved in those questions, with the CBOE Volatility Index (VIX) climbing to close out Monday. Today we know that Democrats in the House of Representatives are planning to pass a resolution calling on Vice President Mike Pence to invoke the 25th Amendment. If Pence does not agree, the House will move to consider impeachment starting tomorrow morning. Stay on top of this news, as it is sure to keep playing out in stocks.

Stock Market Futures Point to Positive Open

[Tuesday, January 12, 8:38 am]
Contributed by Sarah Smith

  • S&P 500 futures are up 0.12%
  • Dow Jones Industrial Average futures are up 0.13%
  • Nasdaq Composite futures are up 0.11%
  • Russell 2000 futures are up 0.26%
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