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Coming up by Gains in Alphabet's Shares Following Strong Quarterly Results MARKET RECAP at 4 pm ET The Dow and the S&P 500 rose, aided Coming Up by gains in Alphabet's shares following strong quarterly results. Treasury The Commerce Department is yields were higher following strong expected to show factory orders rose economic data and Treasury's 0.7% in December, after increasing announcement to keep the sizes of 1.0% in November. The Labor upcoming auctions for notes and bonds Department is expected to show initial unchanged. Silver rose, while spot jobless claims for the week ended gold was down. The dollar edged Jan. 30 fell to 830,000, from 847,000 in lower. Oil hit its highest level in a year, the previous week. The department is after data showed a drop in U.S. crude also expected to show continued stockpiles. jobless claims fell to 4.700 million, REUTERS/Stephen Lam from 4.771 million in the prior week. It Close Chng %Chng Yr-high Yr-low treatment, remdesivir. Investors will be STOCKS is also likely to show unit labor cost DJIA 30722.61 35.13 0.11 31272.22 18213.65 looking out for updates on the rose at the rate of 4% in the fourth company’s pipeline of drugs and the Nasdaq 13610.54 -2.23 -0.02 13728.98 12543.24 quarter, after dropping 6.6% in the S&P 500 3830.18 3.87 0.10 3870.90 3662.71 sales of its key HIV treatments. previous quarter. The department is Toronto 17915.91 41.42 0.23 18058.61 11172.73 expected to show labor productivity 6507.82 -8.83 -0.14 6903.61 6397.24 Automaker Ford Motor Co is expected FTSE fell at an annualized rate of 2.8% in the Eurofirst 1567.25 4.77 0.31 1596.27 1521.71 to report a fourth-quarter loss due to a fourth quarter, after increasing 4.6% in Nikkei 28646.50 284.33 1.00 28979.53 27002.18 $2.5 billion charge related to the U.S. the previous quarter. Hang Seng 29307.46 58.76 0.20 30191.16 27079.24 automaker's exit from its Brazilian TREASURIES Yield Price manufacturing operations. That and the Pharmaceuticals company Gilead withdrawal of its joint venture with 10-year 1.1340 -8 /32 Sciences Inc is expected to report Mahindra in India continue Ford's $11 2-year 0.1171 0 /32 fourth-quarter results. The drugmaker billion global restructuring under CEO 5-year 0.4606 -3 /32 earlier this month raised its full-year 30-year 1.9209 -30 /32 Jim Farley even as the company deals profit forecast, saying that the with the aftermath of the coronavirus resurgence in COVID-19 cases FOREX Last % Chng pandemic and the global shortage of boosted demand for its COVID-19 Euro/Dollar 1.2031 -0.09 semiconductor chips. Dollar/Yen 105.03 0.06 Sterling/Dollar 1.3637 -0.20 Dollar/CAD 1.2781 0.01 KEY ECONOMIC EVENTS TR/HKEX RMB 96.80 0.04 Events ET Poll Prior COMMODITIES ($) Price Chng % chng Challenger layoffs for Jan 0730 -- 77,030 Front Month Crude /barrel 55.84 1.08 1.97 Initial jobless claims 0830 830,000 847,000 Spot gold (NY/oz) 1833.36 -3.99 -0.22 Jobless claims 4week average 0830 -- 868,000 Copper U.S. (front month/lb) 0.0358 0.0004 1.10 CRB Index Total Return 190.26 1.09 0.58 Continued jobless claims 0830 4.700 mln 4.771 mln Labor costs preliminary for Q4 0830 4.0% -6.6% S&P 500 Price $ Chng % Chng Productivity preliminary for Q4 0830 -2.8% 4.6% GAINERS Durables ex-defense, R mm for Dec 1000 -- 0.5% EOG Resources Inc 55.89 4.63 9.03 Diamondback Energy Inc 63.58 5.17 8.84 Durable goods, R mm for Dec 1000 -- 0.2% Schlumberger NV 24.18 1.67 7.42 Factory orders mm for Dec 1000 0.7% 1.0% LOSERS Durables ex-transport R mm for Dec 1000 -- 0.7% PerkinElmer Inc 139.69 -11.44 -7.57 ABIOMED Inc 326.23 -21.61 -6.21 Nondefense cap ex-air R mm for Dec 1000 -- 0.6% Electronic Arts Inc 140.82 -8.15 -5.47 Factory ex-transport mm for Dec 1000 -- 0.8% Health insurer Cigna Corp is set to Social media services company Snap demand for testing amid the ongoing report its fourth-quarter and full-year Inc is expected to post strong growth in pandemic and a vaccine roll-out. The 2020 results, with investors looking out daily active users and a rise in fourth- focus will also be on any comments for the health insurer's comments on its quarter revenue, helped by a recovery about the demand for deferred 2021 outlook. The focus will also be on in ad spending by businesses amid the healthcare procedures such as elective the company's medical costs for the holiday season. surgeries. quarter amid a continuing surge in COVID-19 cases in the United States. Digital payments company PayPal Medical technology company Becton Holdings Inc is expected to report a Dickinson and Co is set to report its Taco Bell parent Yum! Brands Inc is rise in fourth-quarter profit, boosted by first-quarter results. Investors will focus expected to post an increase in fourth- a surge in digital payments as COVID- on sales from its COVID-19 tests. The quarter profit, boosted by strong online 19 lockdowns worldwide drove more focus will also be on the company's full demand. Investors will be on the businesses online. -year outlook and any comments. lookout for same-store sales at KFC restaurants and comments on the sale U.S. life insurer Prudential Financial Consumer lending company of franchisee NPC International's Pizza Inc is set to report its fourth-quarter LoanDepot Inc is expected to debut its Hut business. earnings after markets close. Investors stock on the New York Stock are awaiting details on how insurance Exchange, taking advantage of a surge Federal Reserve Bank of San claims for COVID-19 deaths, as well as in profitability during a home loan Francisco President Mary Daly is likely variable investment income, will impact refinancing boom. Meanwhile, specialty to participate in a presentation and Prudential's bottom line. chemicals group Atotech Ltd, backed research panel on "Career Pathways" by buyout firm Carlyle Group Inc, is at a virtual event "Uneven Outcomes in Videogames maker Activision likely to debut its stock on the New the Labor Market: Understanding Blizzard Inc is expected to post a rise York Stock Exchange. Trends and Identifying Solutions" in fourth-quarter revenue, boosted by hosted by the Federal Reserve Board demand from gamers staying at home Sam Woods, Bank of England deputy of Governors and the Federal Reserve during the pandemic. governor, is expected to speak on Banks of Atlanta, Boston, Cleveland, rethinking financial stability and and Philadelphia. Federal Reserve Media company The New York Times supervision at a London School of Bank of Dallas President Robert Co is expected to post a drop in fourth- Economics event with other central Kaplan is expected to participate in a quarter revenue due to a decline in its bankers, including Andrea Enria, Chair moderated question-and-answer advertising revenue and slowing digital of the Supervisory Board of the session before a virtual event hosted subscription sign-ups. European Central Bank. by the Urban Land Institute. Intercontinental Exchange Inc, owner Argentina’s statistics agency is Wireless network provider T-Mobile of the New York Stock Exchange, will expected to report the country’s US Inc is expected to post strong report a rise in fourth-quarter profit, industrial production data for fourth-quarter growth, helped by higher riding on a surge in market volatility December. The figure fell 8.6% in post-paid phone subscribers, benefits due to the COVID-19 pandemic. November. from the iPhone launch and an uptick in demand for its 5G services. Visual discovery engine Pinterest Inc PROMOTION is expected to report a jump in its fourth LIVECHAT- GLOBAL MARKETS Coach owner Tapestry Inc is expected -quarter revenue, driven by higher FORUM to report a drop in its second-quarter engagement on its platform as The Reuters Global Markets Forum sales as fresh lockdowns in major pandemic keeps social interactions hosts a slate of guest speakers to European shopping hubs during the online. discuss the future of Global Trade and crucial holiday season kept consumers Investment: Kate Lappin, Asia Pacific away from luxury retail stores. Ralph Alternative asset management Regional Secretary at Public Services Lauren Corp is expected to report a company Carlyle Group Inc is International (2300 ET on fall in third-quarter revenue, as the expected to report its fourth-quarter Wednesday/0400 GMT); Alastair COVID-19 pandemic weighed on the earnings, amid a rebound in deal- Newton, Co-founder and director at demand for high-end handbags and making from the coronavirus-induced Alavan Business Advisory (0200 apparel in Europe and North America. slump last year. ET/0700 GMT); Lora Cecere, Founder Investors will also look out for Ralph of Supply Chain Insights (1200 Lauren's forecast on the hit it will take Quest Diagnostics Inc is set to post ET/1700 GMT) To join the from fresh lockdowns and store fourth-quarter results, which investors conversation, click here closures in major European shopping will watch for any comments from the hubs. company on its full-year 2021 outlook, 2 Market Monitor The S&P 500 ended higher, registering a third straight session of gains, with Alphabet's shares jumping following its strong quarterly results.
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