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Wake Up Wall Street (SPY) (QQQ): Microsoft (MSFT) to buy Activision (ATVI) but Goldman (GS) misses

Ivan Brian FXStreet

Here is what you need to know on Tuesday, January 18:

Goldman (GS) kept up the disappointing bank season so far when it missed on EPS, while revenue was ahead of estimates. The stock dropped 4% immediately after. This follows on from Citi (C) and JPMorgan (JPM) disappointing investors last week, and bank stocks will slump further today as a result.

Tech stocks looked set for a shaky opening as a yield surge led Nasdaq futures 2% lower at one stage this morning. However, Microsoft (MSFT) coming after Activision Blizzard (ATVI) in an all-cash deal may help to steady the Nasdaq ship slightly and certainly put gaming stocks on the offensive.

The dollar, meanwhile, is a touch stronger this morning at $1.1376 versus the euro. Oil is at $85.47 on supply concerns, and Bitcoin is at $41,400. Yields are higher across the board with the German 10-year nearly reaching positive territory for the first time in three years this morning. Gold is at $1,818.

See forex today

European markets are lower: Eurostoxx -0.7%, Dax -1% and FTSE -0.6%.

US futures are lower: S&P -15, Dow -0.8% and NASDAQ -1.45.

Wall Street (QQQ) (SPY) Stock News

Microsoft (MSFT) to buy Activision Blizzard (ATVI) in all-cash deal for $95 per share, $69 billion.

Goldman Sachs (GS) falls on a miss in EPS, but revenue beats.

Alibaba (BABA) falls as Reuters report says Biden administration looking into cloud unit.

Dollar General (DG) falls as Morgan Stanley downgrades.

23andMe (ME): GSK exercises option to extend the partnership.

Apple (AAPL): Deutsche Bank raises price target.

GAP falls 5% on Morgan Stanley downgrade.

Credit Suisse (CS) chairman resigns on covid protocol violation reports. Boris johnson take note!!

Unilever (UL) bidding for Glaxo (GSK) consumer health business.

Upgrades and Downgrades

Source: Benzinga Pro

Economic releases

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Author

Ivan Brian

FXStreet

Ivan Brian started his career with AIB Bank in corporate finance and then worked for seven years at Baxter. He started as a macro analyst before becoming Head of Research and then CFO.

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