This week will be a busy week for investors as earnings from defense, credit cards and airlines all report quarterly results.
Equity markets ended a mixed week with the Dow Jones Industrial Average down more than 2%, but the S&P edged up as the Nasdaq Composite rose by roughly the same amount despite a strong Friday. fell to
|Me: DJI||dow jones average||33375.49||+330.93||+1.00%|
|I:COMP||NASDAQ Composite Index||11140.434416||+288.17||+2.66%|
FOX Business analyzes the top market events of the week.
Hedge fund industry lost $125 billion worth of assets in 2022
Monday, January 23rd
The IRS tax season begins accepting and processing individual tax returns for 2022. This is because the IRS adjusted the tax amount upwards to account for inflation in his 2023 tax year.
Elsewhere, Activision Blizzard creators of games such as World of Warcraft, Overwatch and Daiblo will cease operations in China on Monday. This is because Blizzard refused to renew his 14-year contract with Chinese company NetEase to host games in China. Blizzard is looking for new partners in China.
|ATVI||ACTIVISION BLIZZARD INC.||73.84||+0.08||+0.11%|
|GM||General Motors Corporation||35.35||-0.37||-1.04%|
In auto news, GM will begin notifying vehicle owners of a recall centered around daytime running lights not turning off, which can cause dangerous glare.
|GM||General Motors Corporation||35.35||-0.37||-1.04%|
In earnings news, Baker Hughes and Synchrony Financial take center stage before the market opens.
|BKRMore||Baker Hughes Co., Ltd.||31.07||+0.58||+1.90%|
After the bell, investors will listen to Brown & Brown and Zions Bank.
|Bro||Brown & Brown Co., Ltd.||61.71||+1.45||+2.41%|
|Zion||ZIONS BANCORPORATION NA||51.48||+1.96||+3.96%|
In economic news, the Conference Board’s index of leading economic indicators is due and is expected to fall 0.7%.
Tuesdayy, January 24th
On Tuesday, Apple will launch new MacBook Pro computers with upgraded internal chips.
The Oscar nominations will be announced on Monday of the year we saw the highly anticipated sequel to Avatar and Tom Cruise’s Top Gun.
|DIS||The Walt Disney Company||103.48||+4.40||+4.44%|
|WBDMore||Warner Bros.Discovery Co., Ltd.||13.02||+0.55||+4.41%|
Also on Monday, the Senate will hold hearings on the ticket industry after the Taylor Swift-era tour debacle and subsequent lawsuits by her fans. We plan to investigate whether it should be subject to trust regulation.
Tuesday’s barrage of earnings includes 3M, General Electric, Johnson & Johnson, PACCAR, Lockheed Martin, Raytheon Technologies, Travelers, Union Pacific, and Verizon.
|GE||general electric company||77.68||+0.82||+1.07%|
|JNJ||Johnson & Johnson||168.68||-0.84||-0.50%|
|PCAR||Packer Co., Ltd.||99.19||+1.18||+1.20%|
|RTX||Raytheon Technologies Co., Ltd.||94.34||+0.12||+0.13%|
|TRVs||The Travelers Co., Ltd.||185.29||+1.26||+0.68%|
|UNP||Union Pacific Co., Ltd.||208.63||+3.13||+1.52%|
|VZ||Verizon Communications K.K.||40.00||-0.06||-0.15%|
After the bell rings, investors will be heard from Capital One Financial, Microsoft and Texas Instruments.
|COF||Capital One Financial Corporation||104.18||+6.27||+6.40%|
Economic data released on Tuesday include the S&P Global Manufacturing PMI and Services, and the Richmond Fed Services Index.
Wednesday, January 25th
Microsoft’s Developer Direct games presentations include announcements for Redfall, Forza Motorsport, Minecraft Legends, and The Elder Scrolls Online.
Meanwhile, in the UK, Amazon workers are set to go on strike at warehouses as a wave of strikes plague the country.
Before the market opens, investors will listen to earnings calls from AT&T, Boeing, General Dynamics, NextEra Energy, US Bancorp, Textron, Hess, Nasdaq and Norfolk Southern.
|GD||General Dynamics Corporation||232.68||+1.19||+0.51%|
|knee||Necterra Energy Co., Ltd.||81.81||-0.78||-0.94%|
|TXT||Textron Co., Ltd.||67.85||+1.45||+2.18%|
|He||Hess Co., Ltd.||154.82||+1.02||+0.66%|
|Nippon Steel||Norfolk Southern Corporation||253.67||+3.80||+1.52%|
After the bell, investors will be keenly aware of the recent price cuts of Tesla, IBM, Crown Castle, Lam Research, Flex, CSX and Levi Strauss.
|IBM||INTERNATIONAL BUSINESS MACHINES CORP.||141.19||+0.60||+0.43%|
|CCIMore||Crown Castle Co., Ltd.||148.12||+2.88||+1.98%|
|LRCX||Lam Research Co., Ltd.||472.50||+18.61||+4.10%|
|flex||Flex Co., Ltd.||24.24||+0.62||+2.62%|
|CSXMore||CSX Co., Ltd.||32.01||+0.46||+1.46%|
|Levi||Levi Strauss & Company||16.35||+0.43||+2.70%|
Wednesday’s economic data includes mortgage applications and EIA weekly crude stocks.
Mortgage rates drop to lowest level since September
Thursday, January 26th
The FDA will meet on Thursday to discuss the future of COVID shots and boosters.
Audi unveils the ActiveSphere concept car as part of a concept car collection that includes the Grand Sphere, Sky Sphere and Urban Sphere, all built on the Volkswagen Group’s PPE electric vehicle platform.
Earnings for the day include Comcast, Dow, Mastercard, Northrup Grumman, Sherwin Williams, Tractor Supply, Valero Energy, Alaska Airlines, American Airlines, JetBlue and Southwest.
|Dow||Dow Co., Ltd.||57.44||+0.84||+1.48%|
|MA||Mastercard Co., Ltd.||376.04||+8.15||+2.22%|
|NOCs||Northrop Grumman Company||450.95||+8.64||+1.95%|
|SHW||THE SHERWIN-WILLIAMS CO.||245.50||+11.20||+4.78%|
|TSCOMore||Tractor Supply Co., Ltd.||212.07||+5.21||+2.52%|
|VLO||Valero Energy Corporation||142.71||+4.21||+3.04%|
|ALK||Alaska Airlines Group Inc.||49.80||+0.39||+0.79%|
|AAL||American Airlines Group Inc.||16.34||+0.06||+0.37%|
|JBLU||JetBlue Airways Co., Ltd.||8.58||+0.08||+0.94%|
After the bell rings, investors will be contacted by Visa, Intel, KLA and L3Harris Technologies.
|Ⅴ||Visa Co., Ltd.||224.28||+3.87||+1.75%|
|LHX||L3HARRIS TECHNOLOGIES INC.||192.51||+1.06||+0.55%|
The economic calendar released the first reading of GDP for the fourth quarter, which is expected to show 2.8% growth according to forecasts.
Other notable data include building permits, durable goods, and first unemployment claims.
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Friday, January 27th
Disneyland Resort celebrates the 100th anniversary of Walt Disney’s birth.
That’s because Disney is embroiled in a battle for control of its board of directors as activist investor Nelson Peltz battles for a seat.
Earnings before markets open on Friday round out the week with American Express, Chevron, Charter Communications, Colgate-Palmolive, and Booz Allen Hamilton.
|CVX||Chevron Co., Ltd.||180.82||+1.87||+1.04%|
|CHTRMore||Charter Communications Co., Ltd.||396.11||+11.91||+3.10%|
|bar||Booz Allen Hamilton||93.72||+1.25||+1.36%|
Economic data closing out the week includes personal income, consumer spending, the University of Michigan Consumer Sentiment Index and pending home sales.