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Earnings Season Begins

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Last Week’s Market Activity

Although we saw a massive green day on Friday, leading stocks like Ally Financial to be up over 20% in just one day, many stocks were not green on a week over week basis.  When it comes to the indices, the Dow and the Russell were both down week over week, whereas the S&P squeezed out a small gain, and the Nasdaq was up nearly 2%.  We’re certainly in for another week of volatility, as we have some of the largest companies in the world reporting earnings this week!

Macroeconomic Indicators

Last week, we saw jobless claims continue to come in lower than expected, with a massive miss to the downside.  Analysts were forecasting 215,000 jobless claims, and only 190,000 were reported.  This miss won’t be seen in a favorable light by the Fed, as they are fighting to cool down the economy and avoid a wage-price spiral.  We also saw a surprise to the upside in terms of housing numbers.  Both housing starts and existing home sales came in above expectations, signaling a stronger real estate market than previously thought.  

Upcoming Market Catalysts

Economic data releases are taking a bit of a backseat this week, in favor of a stacked earnings calendar.  Nonetheless, there are definitely some important releases this week.  On Thursday, we’ll get the first estimate for Q4 GDP, which will undoubtedly move the market in a massive way.  On Friday, we’ll get some information on the PCE price index.  Although inflation seems to have cooled off, you never know when some anomalies can show through in the data!

Notable Earnings Releases

This week, we will see some of the largest, most influential companies in the world report their fourth quarter earnings, like:

01/23 – Baker Hughes Company (BKR), Synchrony Financial (SYF), Logitech International (LOGI)
01/24 – Microsoft Corporation (MSFT), Johnson & Johnson (JNJ), Verizon Communications (VZ), Texas Instruments (TXN), Raytheon Technologies (RTX), Union Pacific (UNP), Lockheed Martin (LMT), General Electric (GE), 3M Company (MMM), Capital One Financial (COF)
01/25 – Tesla (TSLA), AT&T (T), The Boeing Company (BA), Automatic Data Processing (ADP)
01/26 – Visa (V), Mastercard (MA), Comcast Corporation (CMCSA), SAP (SAP), Intel Corporation (INTC), Northrop Grumman (NOC), Sherwin-Williams Company (SHW), Blackstone (BX)
01/27 – Chevron Corporation (CVX), American Express Company (AXP), Charter Communications (CHTR)

This week, all eyes will be on big tech, with both MSFT and TSLA reporting earnings.  TSLA in particular has experienced quite a bit of volatility over the past few weeks, so it will be interesting to see what Elon Musk’s commentary does to the stock price.  

We’ll also have massive semiconductor companies, like TXN, and INTC, which will certainly move some of the other giants in the industry.  

Additionally, some of the country’s most important defense companies are reporting earnings this week, like RTX, LMT, and NOC.  They will certainly be providing commentary on the state of global affairs, and may offer some insight on the Ukraine conflict.

Lastly, the largest payment processors in the world, V, MA, and AXP will also be reporting earnings this week.  Listening to their conference calls will be key, as they will provide helpful insight into how the consumer is fairing amidst difficult economic times.

⚡ Watchlist ⚡

Monitoring the market conditions this week.

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