Weekly Stock Market Update Markets Enter Turning Point While US Stimulus Uncertainty Continues

The markets started strongly this week before pulling back, as we saw the NASDAQ fall for four consecutive days. Tech stocks Amazon, Salesforce and Shopify took advantage of the retreat to carve out new handles on their bases and provide lower buy points, with other companies such as Apple and Microsoft expected to follow suit.  A mixed set of corporate earnings reports has done little to improve sentiments with several of the big banks releasing lessthanexpected results with Wells Fargo WFC seeing a decline in profit and Bank of America posting a drop in revenue and weaker sales than peers JPMorgan Chase JPM and Citigroup C. The news for the big banks was not all bad, however, as Goldman Sachs broke from this trend and delivered profit that doubled last years figures off the back of strong fixedincome trading and asset management revenue.

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