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Here’s what we’re watching ahead of Tuesday’s opening bell.
–U.S. equity futures have not changed much after the major indices hit record highs a day earlier and investors braced for a slew of blue chip earnings. Read our full market overview here.
What is coming
– Starbucks,
SBUX -0.44%
Microsoft MSFT 1.58%
and Texas Instruments TXN 0.06%
should show results after the markets close.
– The Federal Reserve begins its two-day political meeting. The virtual summit of the World Economic Forum continues from Davos.
Markets to watch
– General Electric GE -1.08%
is up 9.4% in pre-market trade. It reported earnings that missed analysts’ estimates, but said it ended the fourth quarter with $ 37 billion in cash.
– 3M MMM 0.80%
increased 1.5% in pre-market trade. He said earnings per share were higher than estimates and said he expects sales in 2021 to reach 8%.
– Etsy ETSY -2.24%
is up 9.1% before the opening bell. Tesla CEO Elon Musk tweeted “Love Etsy” and “I bought a hand-knitted woolen Marvin the Martian helmet for my dog” in the wee hours of the morning. Online market share has grown by over 17% this month.
A sign advertising online seller Etsy Inc. in Times Square following Etsy’s initial public offering on the Nasdaq in New York City, April 16, 2015.
Photo:
Mike Fresh / Reuters
– Defense giant Lockheed Martin LMT 1.07%
said its sales and profits increased in the fourth quarter, compared to the same period in 2019, although the latter was slightly lower than estimated. Shares are down 0.6% in pre-market trading.
– Verizon VZ 1.65%
slipped 1.5% in front of the opening bell. The telecommunications company said its net profit fell nearly 10% in the fourth quarter, but also expected revenue to increase for 2021.
—Apache APA Oil Exploration Company -3.97%
is up 2.2%, reversing direction after four straight days of losses.
– Johnson & Johnson JNJ 1.49%
reported earnings per share which had declined in the fourth quarter, but also said it was making progress on a Covid-19 vaccine. Its shares are up 1.8% before market.
– American Express AXP -3.96%
stocks fell 1.8% in pre-market trading. It reported lower fourth quarter sales and profits as it recorded a negative allowance for credit losses.
– Raytheon Technologies RTX -1.92%
added 2.8% before marketing. The aerospace and defense maker reported earnings per share, excluding items, higher than estimates. It also said it has a $ 67.3 billion backlog for its defense division and plans to repurchase at least $ 1.5 billion in shares in 2021.
– GameStop GME 18.12%
rallies more than 16% before marketing. Shares of the video game retailer hit a record high Monday, rising more than 145% at one point, before plunging and rebounding again. The battle between day traders and short sellers appears to be continuing.
—Sports betting company DraftKings DKNG -2.36%
increased by 4.1%. A Goldman Sachs stock research analyst upgraded his buy stock rating and raised his price target as well.
Made in the market
The Global Cannabis Stock Index, which tracks U.S.-listed marijuana stocks, has climbed 35% since the start of this year.
Graph of the day
Small investor trading activity remained very hot in 2021, underscoring the opportunity for large banks to tap into a rare source of growth.
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Rent collection is falling and apartment owners are feeling the pressure
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