CFRA Chief investment strategist Sam Stovall weighs in on fourth-quarter earnings reports and the Federal Reserve’s expected rate hikes this year to combat inflation.
U.S. stocks were mixed Monday as investors wind down a volatile month and ahead of another busy week for earnings.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34725.47 | +564.69 | +1.65% |
| SP500 | S&P 500 | 4431.85 | +105.34 | +2.43% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13770.573348 | +417.79 | +3.13% |
For the month, all three of the major averages are down with the Nasdaq fairing the worst off 12%.
Deal making was active Monday with Citrix Systems confirming it will go private in a deal valued at $16.5 billion as Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P and Vista Equity Partners.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CTXS | CITRIX SYSTEMS INC. | 105.55 | +4.84 | +4.81% |
Blackberry is selling the majority of its patents tied to a legacy smartphone arm for $600 million to Catapult IP Innovations.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BB | BLACKBERRY LTD. | 7.88 | +0.33 | +4.37% |
Cirrus Logic and NXP Semiconductor are set to report on Monday.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CRUS | CIRRUS LOGIC INC. | 85.25 | +2.42 | +2.92% |
| NXP | NUVEEN SEL T-F P 3 FD | 15.08 | -0.11 | -0.72% |
Later in the week tech will be in focus with Amazon, Google, and Meta Platforms, formerly Facebook, set to report.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 2,879.56 | +86.81 | +3.11% |
| GOOGL | ALPHABET INC. | 2,667.02 | +86.92 | +3.37% |
| FB | META PLATFORMS INC. | 301.71 | +7.07 | +2.40% |
Sony Pictures’ “Spider-Man: No Way Home” grossed $11 million over the weekend, according to studio estimates Sunday, bringing its domestic total to $735.9 million. The Marvel hit has accounted for a huge percentage of the month’s ticket sales.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SONY | SONY GROUP CORP. | 106.84 | +3.87 | +3.76% |
In commodities, oil hovered around the $87 per barrel level ahead of OPEC’s meeting this week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| USO | UNITED STATES OIL FUND L.P. | 61.97 | +0.11 | +0.18% |
DRUGMAKERS RAISED PRICES BY 6.6% ON AVERAGE EARLY THIS YEAR
Asian stocks followed Wall Street higher Monday at the start of a week when China, South Korea and Southeast Asian markets will close for the Lunar New Year holiday.
CATHIE WOOD’S ARK FACES LOYALTY TEST AFTER TECH-STOCK ROUT
The major cryptocurrencies – Bitcoin, Ethereum and Dogecoin were all down hours before the opening bell on Wall Street.
CLICK HERE TO READ MORE ON FOX BUSINESS
The Associated Press contributed to this report.
