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DJ News Highlights: Top Global Markets News of the Day

· 02/05/2021 07:00
Markets Withstood the GameStop TestGPB Capital Faces Fraud Charges Over $1.7 Billion Ponzi-Like SchemeIndia Central Bank Keeps Key Lending Rate UnchangedPartisan Pressures Weigh Heavily as Senate Looks for Covid-19 Relief DealRegulators Say Market Infrastructure Was Resilient in GameStop FrenzyGerman Factory Orders in December Hit by LockdownsNew U.S. Cases Edge Down but Deaths Spike on BacklogAfter the Pandemic, a Service TsunamiJanuary Jobs Report to Signal State of Economic RecoveryS&P 500 on Track for Best Week Since Early November

Stock futures edged higher, suggesting that the market will end the week higher on investors' anticipation of fresh stimulus spending and labor market's recovery.

Economists expect employers added 50,000 jobs last month, after payrolls fell in December for the first time since the pandemic triggered business shutdowns last spring. The jobless rate is forecast to hold steady at 6.7%.

Americans usually rush out to buy things after an economic slump, but this time around there could be a surge in demand for meals, entertainment and vacations

Newly reported Covid-19 cases in the U.S. were down slightly from a day earlier, but deaths hit their highest daily tally yet, as a backlog of cases in Indiana was added to the nation's total.

German manufacturing orders fell 1.9% in December, suggesting the stricter lockdown in the country and continuing restrictions across the eurozone had a negative impact on the industrial sector.

The Treasury Department, SEC and other regulators discussed market functionality and recent trading practices in equity, commodity and related markets.

Ninety-four members belong to the party that won their state's presidential contest. With more voters siding with a single party, it may mean many lawmakers have less flexibility to make deals with the opposing party.

The Reserve Bank of India kept its lending rate unchanged, while saying that the outlook for growth has improved significantly.

GPB Capital faces a Martin Act complaint in New York and civil fraud claims from the Securities and Exchange Commission.

Investors should take at least a crumb of comfort that the market has so far avoided a major tumble thanks to GameStop.

(END) Dow Jones Newswires

February 05, 2021 07:00 ET (12:00 GMT)

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