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Last Week’s Market Activity

Last week, the markets were largely flat as earnings reports started to roll in. Overall, we had a relatively mixed bag of earnings, with companies like Netflix and American Express soaring on the back of better-than-expected earnings. However, not every company knocked it out of the park on earnings, as Tesla lost nearly 15% of its market cap last week. These giants have certainly set the stage for some volatility this earnings season, so prepare yourself as we enter into the most important week of earnings this week!

Macroeconomic Indicators

Last week brought some great news, as GDP vastly beat expectations and PCE came in a bit cooler than expected. We also saw personal spending rise, indicating a strong underlying economy. At the same time, pending home sales increased much more than anticipated, coming in at 8.3% versus an expected 2.0%, signaling that the housing market is beginning to heat up again, despite it being the dead of winter!

Upcoming Market Catalysts

This week is not just a busy week for earnings releases; it’s also a busy week for economic data releases! We start things off with job openings and consumer confidence on Tuesday, followed by ADP employment and the Fed’s interest rate decision on Wednesday. We then close out the week with nonfarm payrolls, the unemployment rate, and hourly wages. Wednesday will be a particularly important day, as the Fed is likely going to signal what they think they will do with interest rates over the course of the year ahead.

Notable Earnings Releases

This week, Q4 earnings continue, as some of the most influential companies in the world report their earnings, such as:

01/30 – Microsoft Corporation (MSFT), Alphabet (GOOG/GOOGL), Advanced Micro Devices (AMD), Danaher Corporation (DHR), Pfizer Inc. (PFE), United Parcel Service (UPS), Stryker Corporation (SYK), Starbucks Corporation (SBUX), UBS AG (UBS), Mondelez (MDLZ)

01/31 – Novo Nordisk (NVO), Mastercard (MA), Novartis (NVS), Thermo Fisher Scientific (TMO), QUALCOMM (QCOM), Boeing (BA), Automatic Data Processing (ADP), Boston Scientific (BSX), GSK plc (GSK)

02/01 – Apple (AAPL), Amazon.com (AMZN), Meta Platforms (META), Merck & Company (MRK), Shell PLC (SHEL), Honeywell International (HON), Sanofi (SNY)

02/02 – Exxon Mobil (XOM), AbbVie (ABBV), Chevron Corporation (CVX), Regeneron Pharmaceuticals (REGN), Bristol-Myers Squibb (BMY), The Cigna Group (CI), Aon plc (AON), Charter Communications (CHTR)

All eyes will be on big tech this week as some of the most influential companies in the world, like MSFT, GOOG, AMD, AAPL, AMZN, and META, report their earnings. What these companies say about their prior quarter and their outlook for 2024 will move the market in an incredibly drastic way.

We’ll also get to hear from BA, which has had a bit of a rough ride lately since its notorious 737 Max aircraft have been grounded once again after the Alaska Airlines disaster a couple of weeks ago. It will be interesting to hear what they have to say and the steps they are taking to ensure the safety of passengers on their aircraft.

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Wins from Last Week ⚡

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