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,

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. "The broad tape continues to be strong," said Michael O’Rourke, chief market strategist at JonesTrading in Stamford, Connecticut. The retail trading frenzy is likely "to be here for a while," said O'Rourke. "I don't know if it's going to be here with the same intensity ... It's hard to maintain that type of intensity. What we'll probably see are coordinated movements in individual names by that crowd." Shares of Alphabet rose 7.98% and Gamestop ended 3.70% higher. The Dow Jones Industrial Average was up 0.11% to 30,722.61, the S&P 500 rose 0.10% to 3,830.17 and the Nasdaq Composite fell 0.02% to 13,610.54. A file photo of traders wearing masks working on the floor at the New York Stock Exchange Treasury yields drifted higher and the (NYSE) in New York, May 26, 2020. REUTERS/Brendan McDermid yield curve steepened amid stronger economic data and a quarterly possibly from the U.S. jobs report on rose 1.99% to $55.85 a barrel, the refunding announcement that keeps Friday. "The dollar bounce has slowed highest since Jan. 22, 2020, after the sizes of upcoming auctions for but may not be over," strategists at touching a high of $56.33 earlier in the notes and bonds unchanged. After Brown Brothers Harriman wrote. The session. Brent crude futures rose record issuance last year to fund battle seems be between perceived 1.95% to $58.58 a barrel, the highest massive federal spending to aid the U.S. advantages on economic growth since Feb. 21, 2020. coronavirus-battered economy, the and vaccination and an appetite for U.S. Treasury Department said it has currency diversification and investment Silver rose, helped by hopes global "sufficient capacity to address near- risk, the strategists said. The dollar stimulus measures would prompt a pick term projected borrowing needs." The index was down 0.09% at 91.11. The -up in industrial demand, after a sharp Treasury also said the extent of the euro was 0.08% lower at $1.2032. The decline from a near eight-year peak expected decline over the upcoming greenback rose 0.06% against the yen scaled with the help of a social media- quarter in its cash balance, which stood to 105.03 yen. inspired buying frenzy. The recent at $1.729 trillion at the end of 2020, will moves have attracted a lot of new depend on uncertain factors, including Oil prices rose with U.S. crude interest in silver, "not necessarily the potential for additional legislation. reaching its highest settlement level in Reddit investors, but just people out A closely watched part of the yield a year after stockpiles fell to their there looking at silver as an curve, which measures the gap lowest levels since March. U.S. crude undervalued asset," said Bob between yields on two- and 10-year oil stockpiles fell last week to 475.7 Haberkorn, senior market strategist at Treasury notes, was last up about million barrels, the Energy Information RJO Futures. "There is an increased 3.55 basis points at 101.52 basis Administration said, their lowest since physical demand for silver at this points. The benchmark 10-year notes March. Refinery utilization rates rose point." Spot silver rose 0.92% to were down 8/32 at 1.1340%. Two-year by 0.6 percentage points. The market $26.85 per ounce. Spot gold fell notes were flat, yielding 0.1171%. has been bolstered by deep supply 0.22% to $1,833.31 per ounce. U.S. cuts from the Organization of the gold futures were up 0.08% at The dollar's rebound slowed with the Petroleum Exporting Countries and $1,834.90 an ounce. euro and Japanese yen holding near allies, which maintained ongoing widely watched levels as markets supply cuts. U.S. West Texas looked for clues to their next move, Intermediate (WTI) crude futures

Top News

Swings in some Reddit favorites agreed to buy GW Pharmaceuticals in production next week at four assembly ease; Yellen eyes stock volatility a $7.2 billion cash-and-stock deal plants. GM said it will cut production Wild swings in stock prices of which will bolster its neuroscience entirely during the week of Feb. 8 at GameStop and other social media business with the addition of a plants in Fairfax, Kansas; Ingersoll, darlings subsided, a day after a sharp cannabis-based epilepsy treatment. Ontario; and San Luis Potosi, Mexico. selloff, as investors turned their focus GW Pharma's Epidiolex, the first It will also run its Bupyeong 2 plant in to the possibility of tighter U.S. trading marijuana-derived drug to be approved South Korea at half capacity that week. regulations. Mass buying over the past in the U.S., generated sales of over GM did not disclose how much volume two weeks by amateur traders following $500 million for the U.K.-based it would lose or which supplier was posts on social media drove wild price company last year. Analysts expect affected by the chip shortage, but said moves in companies that big hedge sales to breach $1 billion soon. Jazz the focus has been on keeping funds had bet against, including Chairman and Chief Executive Bruce production running at plants building videogame retailer GameStop and Cozadd said in an interview that in GW, the highest-profit vehicles - full-size cinema operator AMC Entertainment. Jazz is getting "a near-term blockbuster pickup trucks and SUVs as well as the The head of the U.S. Securities and product in Epidiolex and a really Chevrolet Corvette sports car. GM said Exchange Commission, which exciting scientific platform around it intends to make up as much lost regulates markets, will meet with cannabinoid medicines, with early-to- production as possible. "Despite our Treasury Secretary Janet Yellen and late-stage, clinical programs already in mitigation efforts, the semiconductor the heads of the Federal Reserve and place." Jazz will acquire GW for $220 shortage will impact GM production in the Commodity Futures Trading per American depositary share - $200 2021," GM spokesman David Barnas Commission as soon as Thursday, a in cash and $20 in Jazz shares. The told Reuters. Treasury official told Reuters. Yellen offer represents a 50% premium to has asked to discuss recent volatility GW's Tuesday closing price. Merck anti-baldness drug Propecia and whether trade has been consistent has long trail of suicide reports, with fair and efficient markets. GM hit by chip shortage, to cut records show production at four plants Newly unsealed court documents and Jazz Pharma to buy GW Pharma for General Motors became the latest other records show that Merck & Co $7.2 billion, adding cannabis-based automaker hit by the global shortage of and U.S. regulators knew about reports drug to portfolio semiconductor chips as the U.S. of suicidal behavior in men taking the Jazz Pharmaceuticals said it had automaker said it will take down company’s anti-baldness treatment Propecia when they decided not to warn consumers of those potential risks in a 2011 update of the popular drug’s label. Internal records from Merck were made public in late January, when a federal magistrate in Brooklyn, New York, granted a 2019 Reuters motion to unseal 11 documents filed in years of litigation alleging Propecia caused persistent sexual dysfunction and other harmful side effects. European and Canadian regulators, citing similar reports among men taking finasteride, require a warning of suicidal thoughts on the label, though they note that research has not proved that the drug causes such thoughts. To this day, the U.S. label contains no mention of suicide or suicidal thoughts. As early as 2009, Merck knew of more than 200 reports of depression, including suicidal A file photo of the Merck logo seen at a gate to the Merck & Co campus in Linden, New Jersey, thoughts, in men taking Propecia, U.S., July 12, 2018. REUTERS/Brendan McDermid

according to an internal “risk billion for the first time, delivering normal levels of healthcare utilization management” assessment from that goods and gaining more cloud throughout the first few months of year. customers during the coronavirus 2021, before the levels rise above pandemic. "The timing of the normal towards the year-end. Biogen's 2021 view disappoints on announcement comes as a surprise, Excluding items, Humana reported a multiple sclerosis drug sales the appointment of Jassy is not loss of $2.30 per share compared with Biogen forecast full-year adjusted profit surprising," D.A. Davidson analyst Tom analysts' estimates of a $2.37 loss per below Wall Street estimates as it Forte said. "But, will not be surprised if share. expects a sharp drop in sales of its Amazon stock is under pressure once multiple sclerosis treatment to counter Jassy takes over, given the market's Spotify outlook weakens as any benefit from a potential approval of fondness for Bezos." pandemic uncertainty persists its Alzheimer's drug. Biogen said it Spotify forecast that revenue and paid expected to launch the Alzheimer's Capri beats profit estimates as fewer subscribers would miss Wall Street disease drug, aducanumab, holiday discounts boost margins estimates this quarter due to immediately if approved by the U.S Capri Holdings beat holiday-quarter uncertainty over how long the Food and Drug Administration by June profit estimates as the luxury fashion coronavirus crisis would last and with it 7 but estimated only modest revenue in house boosted its margins by selling a surge in demand for its music the first few months. Biogen forecast more products at full price and cutting streaming. Spotify has seen a sharp full-year adjusted profit of $17 to $18.5 manufacturing costs, sending its rise in paid subscribers during the per share, while analysts were shares up. The company, however, pandemic as people have been locked expecting $24.67, according to Refinitiv forecast a surprise loss for the current down at home and in the fourth quarter IBES data. Still, company executives quarter due to virus-driven store beat revenue estimates as it hit 155 on a post-earnings call warned of a hit closures in Europe. The company's million paid subscribers for its premium to 2021 results if the drug was not adjusted gross margin expanded 520 service. While advertising was hit by approved as a large portion of basis points in the third quarter, the pandemic, it had little impact on manufacturing capacity had been compared to a year earlier. The subscriber growth, and may actually allocated toward the therapy. Quarterly company said it expects to return to pre have contributed to pulling forward new sales of the multiple sclerosis drug -pandemic revenue and earnings levels signups, Spotify said, adding that total tumbled 47.8% to $607.9 million in the by fiscal 2023, which starts next year. monthly active users rose 27% to 345 fourth quarter, while adjusted profit of The company reported a third-quarter million. The company expects quarterly $4.58 per share fell short of estimates net attributable profit of $179 million, or revenue of 1.99 billion to 2.19 billion by 29 cents. Meanwhile, AbbVie $1.18 per share, down from $210 euros, short of expectations of 2.23 forecast annual profit above million, or $1.38 per share, a year billion. expectations and beat quarterly earlier. estimates on higher demand for its India tells Twitter to comply with blockbuster drug Humira as well as Insurer Humana expects COVID-19 order to block accounts -sources newer treatments for psoriasis and costs to shrink in 2021 due to India has told Twitter to comply with an rheumatoid arthritis, sending its shares vaccinations order to block content alleging that up. To read more, click here Health insurer Humana said it expects Prime Minister Narendra Modi's costs related to COVID-19 treatment to administration was trying to wipe out Bezos' shock exit cools Amazon decline in 2021 at a faster rate than farmers protesting against agricultural results boost demand for elective healthcare reforms, two technology ministry Jeff Bezos' surprise move to step down services to pick up, as more people get sources said. Twitter blocked dozens of as chief executive of Amazon.com vaccinated against the new accounts in India on Monday after the quashed Wall Street optimism about coronavirus. "When COVID treatment country's Home Affairs Ministry bumper quarterly results, but analysts costs begin to decline, the rate of complained that users were posting were upbeat on the promotion of its decline will likely be steeper than the content aimed at inciting violence, a cloud computing head to the top job. bounce back in non-COVID utilization, government had previously told Andy Jassy, 53, has long been potentially creating a favorable impact," Reuters. But it later unblocked some of considered a strong contender for the Humana Chief Financial Officer Brian these accounts, prompting New Delhi top job since Amazon.com created two Kane said. For fiscal year 2021, to write to the U.S. social media giant CEO roles in 2016 reporting to Bezos, Humana said it expects a positive demanding that it obey the government the other held by recently retired impact of $1.32 billion to $2.04 billion order, the technology ministry sources, consumer CEO Jeff Wilke. However, from depressed non-COVID utilization who declined to be named as the few were expecting Bezos to step in its Medicare Advantage health plans. notice to Twitter was not public, told down when the company on Tuesday The company said it expects to see Reuters. reported quarterly sales above $100 double-digit percentage reductions to

A woman places her hand on a mural of late record-breaking centenarian Captain Tom Moore, who died on Tuesday, in Two Gates, Tamworth, Britain, February 3. REUTERS/Jason Cairnduff

Insight and Analysis

PREVIEW-Ford's forecast in focus COLUMN-Basking in 'pseudo COLUMN-Populist crowd fails to as it wraps up year with quarterly wealth'? :Mike Dolan breach the silver fortress for now: loss If "pseudo wealth" is a source of often Andy Home Ford's investors are likely to brush unexplained economic volatility, then Robinhood's army of small retail aside the company's quarterly loss on the financial rollercoaster investors may have failed to storm the Thursday and focus on its 2021 accompanying the pandemic has many silver market, but the online broker's forecast and production target for the wild rides in store. The theory of devotees certainly gave it an almighty revamped F-150 pickup truck, a "pseudo wealth" - developed by Nobel shake. The spot silver price surged by consistent bestseller in the U.S. laureate Joe Stiglitz and others - riffs 20% between last Thursday and automobile market. The automaker off the idea people's consumption is Monday this week, briefly hitting an needs to strengthen the inventory of F- altered by assumptions about future eight-year high of $30.03 an ounce. An 150 pickup trucks to bolster its profits gains or even losses in investments or increase in the margin required to trade for the year. The company had asset bets. But unlike other economic silver on the CME exchange has previously said production of the F-150 models that fall back on mysterious curbed animal spirits and the metal has would take a hit in the fourth quarter as animal spirits or wealth effects for fallen back to $27.12, though a it ramped up production of the new unfathomable ebbs and flows, this collective stampede for physical metal version. contends that there is no shared feeling continues to deplete retail supplies of or common rationale. bars and coins.

CANADA

COMING UP Market Monitor Winterwear maker Canada Goose Canada's main stock index rose after The Toronto Stock Exchange's S&P/ Holdings Inc is expected to post a fall crude oil prices reached their highest in TSX composite index was up 0.23% in third-quarter revenue as lockdowns about a year, as OPEC+'s forecast of a at 17,915.91. in major European shopping hubs deficit in 2021 raised demand recovery during the crucial winter selling months hopes. The U.S. dollar was flat against the kept consumers away from the luxury Canadian dollar at C$1.2780. parka maker's stores. Investors will be on the lookout for comments on recovery as vaccines begin to roll out.

TSE's S&P/TSX composite Price C$ chng % chng

GAINERS ATS Automation Tooling Systems Inc 26.00 3.22 14.14 MEG Energy Corp 5.18 0.58 12.61 Aphria Inc 21.21 2.35 12.46 LOSERS Boyd Group Services Inc 230.70 -9.55 -3.98 NFI Group Inc 30.64 -1.13 -3.56 Silvercorp Metals Inc 8.30 -0.28 -3.26

Top News

CIBC scraps Caribbean sale as U.S. Supreme Court to hear pipeline year, Halima's hours were slashed Canadian banks face hurdles selling company's bid to seize New Jersey because care workers in Ontario were overseas assets land restricted to working in only one facility, Canadian Imperial Bank of Commerce The U.S. Supreme Court agreed to and suddenly she could not afford the (CIBC) became the latest Canadian hear a bid by a consortium of energy C$1,800 monthly rent on her bank to face hurdles in exiting companies seeking to seize land apartment. Canada is struggling to disappointing acquisitions, joining rivals owned by the state of New Jersey to tame a second wave of COVID-19 and still holding overseas assets they have build a $1 billion natural gas pipeline. stop the spread of new variants. sought to sell even as they look to The justices agreed to take up an Seniors have borne the brunt of the deploy record levels of capital. The appeal by PennEast Pipeline pandemic: 70% of Canada's more than lender said it had scrapped the $797 Company, a joint venture backed by 20,000 COVID-19 deaths have been in million sale of a 66.7% stake in its energy companies including Enbridge, long-term care homes. Personal FirstCaribbean business to GNB of a lower court ruling in favor of New support workers (PSWs) have long Financial after failing to get regulatory Jersey's government, which opposed wrestled with housing insecurity in approval. "There have been many the land seizure. New Jersey opposed expensive Canadian cities, but the instances where the banks have construction of the pipeline and did not pandemic has worsened the situation bought something (overseas) and then consent to PennEast's seizure of for many, pushing some into had to divest because it didn’t pan out properties the state owns or in which it homelessness and leaving others from a strategic standpoint,” said has an interest. teetering on the brink, according to Anthony Visano, managing director of workers, shelter administrators, union Kingwest & Company, which holds On the brink: Canada care workers officials and health advocates. At the some Canadian banks. CIBC's struggle to make ends meet in heart of their struggle are low wages challenge "is a pretty good proxy for pandemic and fewer hours amid pandemic the broader experience," he added. For 15 years, Halima has supported restrictions that do not allow them to CIBC's failed sale is a negative as the herself and her three children by work at multiple care homes. The region faces challenges, Barclay's working long hours taking care of problem is most acute among part-time equity analyst John Aiken said in a elderly clients in retirement homes or in workers at for-profit care homes. research note. their personal residences in Toronto. But as COVID-19 infections surged last

WEALTH NEWS

ECONOMIC INDICATOR U.S. private payrolls rebound; services industry activity gains steam U.S. private payrolls rebounded more than expected in January, suggesting the labor market recovery was back on track after the economy shed jobs in December as soaring COVID-19 infections hurt operations in the leisure and hospitality industry. The ADP National Employment Report showed private payrolls increased by 174,000 jobs last month after dropping by 78,000 in December. Economists polled by Reuters had forecast private payrolls would rebound by 49,000 in January. In a separate report, the Institute for Supply Management (ISM) said its non- manufacturing activity index increased to

a reading of 58.7 last month.

RELIEF PLAN Biden tells Democrats he would consider limits on who gets COVID-19 checks President Joe Biden told congressional Democrats he would not back down on including $1,400 checks for struggling Americans in his COVID-19 relief plan but would consider tighter limits on who gets them, lawmakers and aides said.

OIL OUTPUT POLICY OPEC+ sticks with oil policy as prices rise towards one-year high OPEC+ maintained its oil output policy at a meeting, a sign producers are happy that their deep supply cuts are draining inventories despite an uncertain outlook for a recovery in demand as the pandemic lingers.

FED DATA Minority-owned businesses struggle to access credit during pandemic, Fed survey finds The vast majority of U.S. small businesses took a hit to their revenue last year because of the coronavirus pandemic, with minority-owned businesses struggling the most and worrying more about accessing credit, according to a Federal Reserve survey released.

EMISSIONS DISCUSSION Biden team in talks with utilities, car companies about emissions -climate adviser U.S. President Joe Biden's administration has started discussions with the utility and automobile sectors about reducing greenhouse gas emissions, White House domestic climate change adviser Gina McCarthy told Reuters.

GOING PUBLIC Insurance IT firm CCC Information to go public via $7-billion SPAC deal CCC Information Services said it was going public through a merger with blank-check firm Dragoneer Growth Opportunities, in a deal that valued the data and technology provider to auto and insurance firms at about $7 billion.

PRIVATE EQUITY FIRM RESULTS Apollo's fourth-quarter earnings fall as asset sales slow Apollo Global Management reported that fourth-quarter distributable earnings fell 30% from a year earlier, amid a slowdown in its divestment of private equity assets.

KEY RESULTS

Company Name* Quarter ET Smart Estimates EPS Estimates** Year Ago Rev Estimates (mln)

Activision Blizzard Q4 AMC $1.19 $1.18 $1.23 $2,833.18 Air Products and Chemicals Q1 BMO $2.18 $2.19 $2.14 $2,345.88 Alexion Pharmaceuticals Q4 BMO $2.69 $2.56 $2.71 $1,518.14 Amerisourcebergen Q1 BMO $1.94 $1.94 $1.76 $50,493.24 AMETEK Q4 BMO $1.03 $1.03 $1.08 $1,202.13 Ball Q4 BMO $0.78 $0.79 $0.71 $2,936.34 Baxter International Q4 BMO $0.76 $0.76 $0.97 $3,043.43 Becton Dickinson and Co Q1 BMO $3.17 $3.11 $2.65 $4,877.86 Bristol-Myers Squibb Q4 BMO $1.41 $1.42 $1.22 $10,728.23 Clorox Q2 BMO $1.81 $1.78 $1.46 $1,749.54 CMS Energy Q4 BMO $0.55 $0.55 $0.68 $1,792.48 Cummins Q4 BMO $2.79 $2.80 $2.56 $5,190.85 DXC Technology Q3 AMC $0.55 $0.54 $1.25 $4,196.72 Essex Property Trust Q4 AMC $0.99 $1.02 $1.95 $366.27 Fleetcor Technologies Q4 AMC $2.81 $2.81 $3.17 $603.24 Ford Motor Q4 16:05 -$0.04 -$0.07 $0.12 $33,891.29 Fortinet Q4 AMC $0.97 $0.97 $0.76 $722.36 Fortive Q4 AMC $0.62 $0.62 $1.03 $1,289.34 Gilead Sciences Q4 AMC $2.17 $2.15 $1.30 $7,328.60 Hartford Financial Services Group Q4 16:15 $1.34 $1.33 $1.43 $5,134.00 Hershey Q4 7:00 $1.42 $1.43 $1.28 $2,113.06 IDEX Q4 BMO $1.32 $1.31 $1.33 $602.14 Intercontinental Exchange Q4 BMO $1.09 $1.08 $0.95 $1,627.93 International Paper Q4 BMO $0.82 $0.80 $1.09 $5,304.45 Merck & Co Q4 BMO $1.39 $1.38 $1.16 $12,681.72 Mettler-Toledo International Q4 AMC $8.73 $8.72 $7.78 $904.20 Microchip Technology Q3 AMC $1.59 $1.58 $1.32 $1,358.65 Motorola Solutions Q4 AMC $2.74 $2.74 $2.94 $2,241.89 News Q2 AMC $0.10 $0.11 $0.18 $2,239.08 NortonLifeLock Q3 AMC $0.37 $0.37 $0.25 $630.53 Nov Q4 AMC -$0.21 -$0.19 $0.40 $1,342.70 Old Dominion Freight Line Q4 BMO $1.57 $1.57 $1.20 $1,045.97 Parker-Hannifin Q2 BMO $2.63 $2.60 $2.54 $3,223.81 Philip Morris International Q4 BMO $1.22 $1.21 $1.22 $7,409.37 Prudential Financial Q4 AMC $2.59 $2.57 $2.33 $14,994.11 Quest Diagnostics Q4 BMO $4.29 $4.24 $1.67 $2,928.48 Ralph Lauren Q3 BMO $1.66 $1.63 $2.86 $1,468.30 Snap-On Q4 BMO $2.96 $2.95 $3.08 $942.78 Tapestry Q2 BMO $1.03 $1.01 $1.10 $1,630.81 T-Mobile US Q4 AMC $0.58 $0.51 $0.87 $19,928.56 Unum Group Q4 16:15 $1.19 $1.20 $1.41 $2,976.74 WEC Energy Group Q4 BMO $0.74 $0.73 $0.77 $2,110.00

Company Name* Quarter ET Smart Estimates EPS Estimates** Year Ago Rev Estimates (mln)

Wynn Resorts Q4 AMC -$2.39 -$2.31 $0.86 $722.30 Xylem Q4 6:55 $0.67 $0.68 $0.89 $1,291.28 Yum! Brands Q4 BMO $1.00 $1.01 $1.00 $1,723.99

*Includes companies on S&P 500 index. **Estimates may be updated or revised; release times based on company guidance or past practice.

I/B/E/S EPS and revenue estimates, and StarMine Smart Estimates, provided by Refinitiv.

The Day Ahead - North America is compiled by Samrhitha Arunasalam and Priyanka Das in Bengaluru.

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