Dow Futures Up as Blue-Chip Earnings Roll In

The likes of 3M, Verizon, and Johnson & Johnson reported earnings this morning

Assistant Editor
Jan 26, 2021 at 9:17 AM
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Stock futures are pointed modestly higher this morning, as Wall Street unpacks a host of blue-chip corporate reports, including 3M (MMM), Verizon (VZ), and Johnson & Johnson (JNJ). Futures on the Dow Jones Industrial Average (DJI) are up 50 points at last check, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are hovering just above breakeven in the wake of yesterday's record highs. In other news, investors are monitoring the new, more contagious strains of the Covid-19 virus, and today marks the first trading session with Janet Yellen as Treasury Secretary. 

Continue reading for more on today's market, including:

  • Schaeffer's Senior Vice President of Research Todd Salamone speculates on the SPX's next big hurdle.
  • Surging movie theater stock worth keeping an eye on.
  • Plus, Verizon's top-line beat; 3M stock boosted by N95 mask demand; and GME continues its wild run.

Futures Chart January 26

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.9 million call contracts traded on Monday, and more than 1.1 million put contracts. The single-session equity put/call ratio fell to 0.38 and the 21-day moving average fell to 0.42. 
  2. Verizon Communications Inc. (NYSE:VZ) stock is down 0.9% ahead of the open, despite the telecommunications giant reporting fourth-quarter earnings and revenue that topped Wall Street's forecasts. On the other hand, the company saw less paying phone subscribers than expected. Year-over-year, VZ is down 3.1%.
  3. Blue-chip conglomerate 3M Co (NYSE:MMM) is up 1.5% in electronic trading after posting a fourth-quarter earnings and revenue beat. The company saw a boost thanks to an increased demand for health-care products, including N95 masks. Over the last nine months, MMM is up 10.9%.
  4. Video game retailer GameStop Crop. (NYSE:GME) is showing no signs of slowing down anytime soon, up 16.3% in pre-market trading. Yesterday, the equity soared to new record highs, and already in 2021 is up over 300%.
  5. The pace picks up today, with the Case-Shiller home price, FHFA home price, and consumer confidence indexes all due out.

buzz chart jan 26

Asian Stocks Lower as Investors React to Vaccine News

Asian markets settled lower on Tuesday, as investors kept an eye on Moderna’s (MRNA) potential booster for the Covid-19 strain in South Africa. The Hang Seng in Hong Kong saw the biggest losses, shedding nearly 2.6% as tech name Tencent tumbled, just one day after nearing valuation at $1 trillion. The South Korean Kospi and Shanghai Composite in China took major hits as well, falling 2.1% and 1.5%, respectively. Elsewhere, Japanese investors pored over the Bank of Japan’s (BoJ) December monetary policy meeting announcement, in which the bank said it would “not hesitate” to take action if necessary, while keeping rates steady. The Nikkei, in response, shed nearly 1% for the day.

In Europe, things are looking slightly better, with the bourses bouncing on big gains from chemical and financial stocks. The London FTSE 100 has added 0.9% so far, while traders digest news that the European Union (EU) has accused vaccine producer AstraZeneca (AZN) of not doing enough to resolve a conflict over Covid-19 vaccine supply. Meanwhile, the French CAC 40 is 1.5% higher, while the German DAX is up 2%.

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