Biden’s Inauguration, Netflix Shines, P&G Results, API

By Geoffrey Smith 

Investing.com — Joe Biden will be sworn in as President, a day after the death toll from Covid-19 hits 400,000. Netflix stock is set to soar after a stellar fourth quarter, while Procter & Gamble, UnitedHealth (NYSE:) and United Airlines all report later. Jack Ma reappears for the first time since the Ant Group IPO fiasco, and API oil inventories are due. Here’s what you need to know in financial markets on Wednesday, January 20^th 

1. #46

Joe Biden will be sworn in as the 46^th President of the United States, ending a four-year revolt by the country against the world order that it created after World War 2 and consolidated after the collapse of the Soviet Union.

The inauguration will be overshadowed by a , aimed at averting any repeat of the violence instigated by the supporters of outgoing President Donald Trump in their attempts to force Congress to overturn the result of the election in November.

It will also be marked by the absence of the crowds usual for inaugurations due to the Covid-19 pandemic. The U.S. from Covid-19 reached 400,000 on Tuesday. While the current surge in infections appears to have peaked, it is on course to top the number of U.S. deaths in World War 2 by the end of the month.

2. Netflix soars after blowout quarter

Netflix as one of the biggest winners from the pandemic, as the net addition of over 37 million subscribers over the year pushed its overall subscriber base above 200 million users by the end of December.

Netflix (NASDAQ:) stock rose over 12% in after-hours trading on the news, lifted especially by the detail that its cash flow now covers its spending needs. Revenue rose by some 20% from a year earlier, beating expectations, although net profit dipped below forecasts.

 The company added 8.5 million subscribers in the last quarter alone, cashing in on a string of successful new series, including The Queen’s Gambit, the latest series of The Crown and the French series Lupin.

3 Stocks set to open higher; P&G, United earnings eyed

Earnings season continues on Wednesday with a broad cross-section of reports. got the ball rolling with a modest beat on both top and bottom lines, while the focus is likely to be on consumer giant Procter & Gamble Company (NYSE:), which like Netflix has benefited from shifts in consumer spending patterns over the last year.

There are also reports from pipeline operator , Morgan Stanley(NYSE:), and . Overnight, the Dutch-based maker of chipmaking equipment, for the fourth quarter and announced it will buy back 6 billion euros of stock over the next three years.

By 6:30 AM ET (1130 GMT), were up 78 points or 0.3%, while were up 0.4% and were up 0.8%.

4. Jack Ma reappears; Alibaba ADRs shoot higher

Alibaba founder Jack Ma made his first public appearance since a dispute with Chinese regulators forced him to abandon his plans to float his giant financial services empire Ant Group.

The…