Heritage Capital LLC. president Paul Schatz and Bolvin Wealth Management president Gina Bolvin provide insight on the stock market on ‘Making Money.’
U.S. stocks drifted in early trading as investors digested a basket of positive earnings reports and ahead of data on manufacturing and jobs.
All three of the major averages were fractionally higher.
WHITE HOUSE WARNS OMICRON SPIKE COULD SKEW JANUARY JOBS REPORT
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 35108.35 | -23.51 | -0.07% |
| SP500 | S&P 500 | 4504.61 | -10.94 | -0.24% |
| I:COMP | NASDAQ COMPOSITE INDEX | 14143.02457 | -96.86 | -0.68% |
FED EXPECTED TO RAISE RATES 7 TIMES THIS YEAR TO FIGHT INFLATION, BOFA SAYS
United Parcel Service shares rose after revenue of $27.7 billion topped estimates. The delivery giant also boosted its dividend by 49% to $0.50 cents a share.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| UPS | UNITED PARCEL SERVICE INC. | 228.73 | +26.45 | +13.08% |
| FDX | FEDEX CORP. | 255.35 | +9.29 | +3.78% |
ExxonMobil reported profits of $2.05 a share exceeding analyst estimates by 11 cents. Revenue of $89 million also beat estimates. On Monday the oil giant announced it will move its headquarters from Irving Texas to Houston in a cost-cutting move and to streamline the business.
EXXON MOBIL MOVING HEADQUARTERS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP. | 77.58 | +1.66 | +2.19% |
Movie theater chain AMC gave a preliminary update on its quarter noting total revenues of $1.1 billion improved from the $162.5 million during the same period a year ago. Cash or liquidity reached $1.8 billion, a record for year-end.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 17.58 | +1.53 | +9.53% |
In the afternoon, the focus will turn to big tech when Google parent Alphabet releases its figures. Also watch for numbers from carmaker General Motors, property and casualty insurer Chubb, coffee retailer Starbucks, digital payments pioneer PayPal and chipmaker Advanced Micro Devices, among others.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GOOGL | ALPHABET INC. | 2,724.02 | +17.95 | +0.66% |
| GM | GENERAL MOTORS CO. | 52.57 | -0.17 | -0.32% |
| AMD | ADVANCED MICRO DEVICES INC. | 113.44 | -0.81 | -0.71% |
| SBUX | STARBUCKS CORP. | 97.37 | -0.95 | -0.97% |
| PYPL | PAYPAL HOLDINGS INC. | 170.98 | -0.96 | -0.56% |
| AMD | ADVANCED MICRO DEVICES INC. | 113.44 | -0.81 | -0.71% |
LAFFER’S DIRE WARNING ON INFLATION, US ECONOMY: ‘TIPPING INTO A SLOWDOWN’
Cryptocurrencies stabilized with Bitcoin hovering around the $38,000 level.
and oil remained near the $87 per barrel level.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 61.68 | -0.79 | -1.26% |
Meanwhile, Asian shares gained Tuesday, mirroring broad overnight gains on Wall Street, while trading in China and most other regional markets was closed for Lunar New Year holidays.
Japan’s benchmark Nikkei 225 edged up 0.3% to finish at 27,078.48. Australia’s S&P/ASX 200 gained 0.5% to 7,006.00.
The yield on the 10-year Treasury rose to 1.78% from 1.77% Friday. The two-year yield, which moves more on expectations about what the Fed will do with short-term rates, rose to 1.18% from 1.15%.
In energy trading, benchmark U.S. crude added 15 cents to $88.30 a barrel in electronic trading on the New York Mercantile Exchange. It gained $1.33 to $88.15 per barrel on Monday. Brent crude, the international standard, rose $1.18 to $91.21 per barrel.
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The Associated Press contributed to this report.