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

Like this article? Help us with some feedback by answering this survey:

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.

GBP/USD clings to gains; US CPI in focus

The British Pound holds onto two-day gains marginally at around 1.3500 against the US Dollar during the Asian trading session. The GBP/USD pair remains firm as the British Pound outperforms despite financial markets pricing out the possibility of an interest rate hike by the Bank of England in the near term.

EUR/USD flat lines near mid-1.1500s as traders await US CPI amid Iran uncertainty

The EUR/USD pair struggles to gain any meaningful traction, and holds steady around the 1.1545-1.1550 area during the Asian session. Traders seem hesitant to place aggressive bets and opt to wait for further developments surrounding the Middle East crisis and this week's release of the latest US inflation figures.

Gold surges past $4,400, hitting fresh two-month highs

Gold climbs further beyond $4,400, touching its highest level since June 5 in the Asian session on Tuesday. Easing Fed rate hike expectations continue to drive flows towards the non-yielding bullion. Meanwhile, inflation risks stemming from volatile oil prices back the case for at least one rate hike in 2026, which supports the US Dollar and might cap the precious metal ahead of the crucial US CPI report on Wednesday.

Bitcoin softens on institutional selling – CRV, ICP outperform

The broader cryptocurrency market shows mixed sentiment as Bitcoin (BTC) drops to $64,000 under institutional selling pressure. The Fear and Greed Index at 37, down from 40 the previous day, signals renewed bearish pressure. Meanwhile, Curve DAO (CRV) and Internet Computer (ICP) continue to extend their gains so far this week, emerging as top performers over the last 24 hours.

Dogecoin: Bullish divergence, whale accumulation support recovery hopes

Dogecoin shows early signs of a potential recovery, trading near $0.070 on Tuesday as bullish momentum divergence suggests selling pressure may be fading. In addition, whale accumulation and improving derivatives metrics suggest a bullish outlook, hinting at a potential recovery ahead.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.