Today's Stock Market News & Events: 1/19/2021

Today's market-moving economic data and earnings schedule

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Stocks concluded the day on Friday logging both daily losses across the board after President-elect Joe Biden's announcement of a $1.9 trillion rescue plan failed to give investors the sentiment boost they needed. For the week, all three U.S. market benchmarks posted significant losses. The Dow Jones Industrial Average (DJI - 30,814.26) dropped 177.3 points for the day on Friday and 0.9% for the week last week. The S&P 500 Index (SPX - 3,768.25) dropped 27.3 points on Friday and 1.5% last week. The Nasdaq Composite (IXIC - 12,998.50) dropped 114.1 points on Friday and 0.9% overall last week. The Cboe Volatility Index (VIX - 24.34) popped 4.7% for the day on Friday, and 12.9% for the week last week -- marking its biggest weekly jump since October 2020

Entering the first earnings season of 2021, the docket of companies set to report is jam packed this week. However, the third week of the year will be relatively quiet on the economic-data front. The trading week is short as the market was closed in observance of Martin Luther King Jr. Day yesterday. Midweek, the National Association of Home Builders (NAHB) index will likely be overshadowed investor attention directed toward President-elect Joe Biden's inauguration. Heading into Thursday and Friday, we'll see a slew of economic data released, including existing home sales.

Today is going to be completely jam packed for investors to close out the week. Retail sales, industrial production, and capacity utilization data is all due out. In addition, the Empire state and producer price indexes latest data are slated to be reported, as well as preliminary consumer sentiment index data and business inventories reports that are set to be released today.

The following companies are slated to release quarterly earnings reports today, January 19:

Bank of America Corporation (NYSE:BAC -- $33.01) provides banking and financial products and services. Bank of America will report its fourth-quarter earnings of 2020 before the bell today.

The Charles Schwab Corporation (NYSE:SCHW -- $58.75) provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. Charles Schwab will report its fourth-quarter earnings of 2020 before the bell today.

Comerica Incorporated (NYSE:CMA -- $63.78) provides various financial products and services. Comerica will report its fourth-quarter earnings of 2020 before the bell today.

The Goldman Sachs Group, Inc. (NYSE:GS -- $301.01) operates as an investment banking, securities, and investment management company. Goldman Sachs will report its fourth-quarter earnings of 2020 before the bell today.

Halliburton Company (NYSE:HAL -- $20.74) provides a range of services and products to oil and natural gas companies. Halliburton will report its fourth-quarter earnings of 2020 before the bell today.

Old National Bancorp (NYSE:ONB -- $17.87) operates as the bank holding company for Old National Bank. Old National Bancorp will report its fourth-quarter earnings of 2020 before the bell today.

PetMed Express, Inc. (NASDAQ:PETS -- $34.73) operates as a pet pharmacy in the United States.. PetMed Express will report its third-quarter earnings before the bell today.

State Street Corporation (NYSE:STT -- $77.18) provides a range of financial products and services to institutional investors. State Street will report its fourth-quarter earnings of 2020 before the bell today.

F.N.B. Corporation (NYSE:FNB -- $10.97) is a financial holding company. F.N.B Corp will report its fourth-quarter earnings of 2020 after the market closes today.

Fulton Financial Corporation (NASDAQ:FULT -- $14.52) operates as a multi-bank financial holding company. Fulton Fincl will report its fourth-quarter earnings of 2020 after the market closes today.

Interactive Brokers Group, Inc. (NASDAQ:IBKR -- $69.02) operates as an automated electronic broker worldwide. Interactive Brokers will report its fourth-quarter earnings of 2020 after the market closes today.

J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT -- $151.51) provides surface transportation and delivery services. J.B. Hunt Transport will report its fourth-quarter earnings of 2020 after the market closes today.

Netflix, Inc. (NASDAQ:NFLX -- $497.98) provides subscription streaming entertainment service. Netflix will report its fourth-quarter earnings of 2020 after the market closes today.

Pinnacle Financial Partners, Inc. (NASDAQ:PNFP -- $69.99) operates as the bank holding company for Pinnacle Bank. Pinnacle Financial will report its fourth-quarter earnings of 2020 after the market closes today.

United Comm Banks, Inc. (NASDAQ:UCBI -- $31.53) operates as the bank holding company for United Community Bank. United Comm Banks will report its fourth-quarter earnings of 2020 after the market closes today.

Zions Bancorpration, National Association (NASDAQ:ZION -- $49.14) provides various banking and related services. Zions Bancorp will report its fourth-quarter earnings of 2020 after the market closes today.

Here is a quick recap of how Friday's earnings reports played out:

JPMorgan Chase & Co. (NYSE:JPM) operates as a financial services company worldwide. Earnings per share rose to $3.79, which beat the estimate of $2.62. Managed revenue of $30,161,000,000 higher by 3.25% from the same period last year, which beat the estimate of $28,700,000,000.

The PNC Financial Services Group, Inc. (NYSE:PNC) provides banking, investment, mortgage, and consumer and commercial finance products. Earnings per share rose 9.76% over the past year to $3.26, which beat the estimate of $2.61. Revenue of $4,208,000,000 decreased by 8.70% year over year, which beat the estimate of $4,140,000,000.

Wells Fargo & Company (NYSE:WFC) provides banking, investment, mortgage, and consumer and commercial finance products. Earnings per share were down 31.18% year over year to $0.64, which beat the estimate of $0.60. Revenue of $17,925,000,000 declined by 9.74% year over year, which missed the estimate of $18,130,000,000.

Looking ahead to tomorrow, investors will likely be equal parts anxious and excited for President-elect Joe Biden's inauguration into the White House on Wednesday. In addition, the National Association of Home Builders (NAHB) index data will be reported tomorrow.

All economic dates listed here are tentative and subject to change.

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