Friday,
January 21, 2022
Market recap
Dow Jones
34,715.19
-313.46 (-0.89%)
S&P 500
4,482.70
-50.06 (-1.10%)
Nasdaq
14,154.02
-186.23 (-1.30%)
Top Story
Major Averages Fall in Final Hour of Trading
• After upbeat morning trading, US stocks ultimately finished in the red on Thursday. The reversal highlights equity marketsâ struggles this year in light of rising rates. Technology stocks led major indices higher heading into lunch, but then fell in the afternoon, weighing on major averages. As a result the Dow Jones Industrial Average tumbled over 300 points after being up more than 400 earlier in the session.
• A handful of economic data reports didn't help sentiment on the Street. Jobless claims for the week ended January 15 came in at 286,000. This figure was higher than economist estimates, representing the highest level since October.
What to Be on the Lookout for Today
• Decemberâs leading economic indicators are due. This monthly index takes into account various components, including average weekly hours, building permits, new private housing units, stock prices, and average consumer expectations. In November the gauge increased 1.1%, which was above estimates.
• IHS Markit (INFO) will report its fiscal year 2021 and Q4 results. The London-based company is a world leader in analytics, solutions, and critical information for a number of major markets and industries. Schlumberger (SLB), Ally Financial (ALLY), and Huntington Bancshares (HBAN) also report.
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A Few Headlines That Should Be on Your Radar
Inflation means rising food prices at the grocery store, with big food brands likely to feel the impact along with shoppers. Analysts say raw materials companies may be able to better navigate the situation because they rely less on packaging, which can impact the bottom line. They are also less prone to supply-chain shocks since they can make bulk shipments. Advisors also note a number of cost-cutting strategies shoppers can keep in mind while at the grocery store. Read more >> Amazon is launching a brick-and-mortar retail store in LA to sell clothing and shoes. This isnât the tech giantâs first attempt to open a âreal-worldâ store, as it launched Amazon Books in the past and purchased Whole Foods as well. The company is borrowing from some other retailers to craft what it calls a unique in-store experience with interactive fitting rooms. Read more >> Several startups are announcing new funding this week, including firms specializing in artificial intelligence and blockchain technology. Private equity funds are flowing into new companies that utilize AI in novel ways, including firms that focus on agtech and improving the efficiency of sales operations. NFTs are also drawing investor interest, as evidenced by the growth of a venture co-founded by NFL star Tom Brady. Read more >> What to negotiate for when you get a job offer, or in next yearâs benefits package. Employers are adapting their benefits to the needs and values of five or six different generations who are in the workforce at the same time, from Baby Boomers to Gen Z. But some benefits remain standard, and career experts say you should think very carefully before accepting a job without these. Read more >>Not-So-Breaking News
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The next generation of Mercedes-Benz (DMLRY) vehicles will be equipped with lidar technology after the automaker signed a deal with startup Luminar. Lidar uses lasers to measure targets and range distances, combining with other data to generate 3D mapping of the Earth's surface.
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As fast-food giants experiment with plant-based options, McDonald's (MCD) is planning to roll out a burger using Beyond Meat (BYND). Named the McPlant and made with peas, potatoes, and rice, it'll launch at around 600 restaurants in both Dallas-Fort Worth and the San Francisco Bay Area.
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Instagram (FB) is testing out a new feature that will allow creators to charge subscription fees. Many companies, including Meta-owned Instagram are exploring ways to navigate the evolving creator economy.
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Seasonally adjusted home sales fell 4.6% in December. Some analysts say sales would have been higher if supply wasn't so limited. Yet, the National Association of Realtors reports the median sale price for existing homes rose 15.8% when compared to December 2020.
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American Airlines (AAL) beat revenue forecasts and posted a narrower-than-expected loss for Q4 2021. This is significant given the many canceled flights and industry-wide staffing issues occurring amid the pandemic. Over the previous six months, shares of American Airlines are down 15%.
Career Tip of the Day
âMoney might be one of the most uncomfortable things to talk about, especially when it comes to negotiating your salary. Yet the majority of the population doesnât negotiate, and they miss out, big time, as a result.â
Ashley Stahl, Career Expert at SoFi