Here is what you need to know on Tuesday, January 25:
A massive intraday turnaround for equity markets on Monday sowed increasing confusion for investors. Was this a buy-the-dip turnaround or merely position closing ahead of some big earnings releases and the Fed meeting? To the gentle scribes at FXstreet, it appears the latter as uncertainty is disliked,, and the market needs these events out of the way. Added to this is more uncertainty from rising US-Russia tensions pushing many market participants toward risk aversion.
The dollar remained strong throughout this escalation as currency traders move to the risk-off king. The dollar is at 1.1270 now versus the euro. Bitcoin turned sharply yesterday and perhaps aided the equity rally as it went green early. Bitcoin is steady at $36,300 now. Oil is also calmer at $83.70, while Gold is flat at $1,842.
European markets are mixed: Eurostoxx -1.2%, FTSE -0.2% and Dax +0.5%.
US futures are lower: S&P -1.5%, Dow -1% and NASDAQ -2%.
Wall Street (SPY) (QQQ) top news
IMF cuts global growth outlook.
Fed meeting starts today, though the announcement is tomorrow.
IBM reports a big jump in sales, the highest in 10 years, as its beats on top and bottom lines.
Microsoft (MSFT) reports after the close.
Pfizer (PFE) and BioNTech (BNTX) carry out trial new Omicron vaccine.
3M (MMM) beats on top and bottom lines.
Johnson&Johnson (JNJ) just beats on EPS but misses on revenue.
American Express (AXP) beats on revenue and profit.
Logitech (LOGI) raises forecasts, shares up 4% premarket.
General Electric (GE) down 5% on an earnings miss.
Ericsson (ERIC) up 5% premarket on strong earnings.
Upgrades and Downgrades
Source: Benzinga Pro
Like this article? Help us with some feedback by answering this survey:
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.