Laffer Tengler Investment CIO Nancy Tengler and The Bahnsen Group managing partner David Bahnsen analyze the impact Russian tensions have on the market.
U.S. stocks are set to open lower in what may be another volatile session for investors following the massive swings experienced Monday.
Nasdaq Composite futures are down 2%, while S&P 500 and Dow futures are off about 0.7%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 34364.5 | +99.13 | +0.29% |
| SP500 | S&P 500 | 4410.13 | +12.19 | +0.28% |
| I:COMP | NASDAQ COMPOSITE INDEX | 13855.129489 | +86.21 | +0.63% |
Monday’s wild turnaround, which had the Dow rebound from a 1,000-plus-point drop, also followed a three-week decline for the S&P 500, concluding with its worst weekly stretch since the start of the pandemic. Tensions have soared between Russia and the West over concerns that Moscow is planning to invade Ukraine, with NATO outlining potential troop and ship deployments.
On Tuesday, investors will attempt to focus on a handful of blue-chip earnings, including IBM’s better-than-expected quarter. Shares are set to open with a gain of about 2%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| IBM | INTERNATIONAL BUSINESS MACHINES CORP. | 128.82 | -0.53 | -0.41% |
Johnson and Johnson edged past Wall Street’s expectations, helped by growing pharmaceutical sales, but revenue fell short. In the fourth quarter, New Brunswick, New Jersey-based Johnson & Johnson earned $4.73 billion, while sales grew 10% to $24.8 billion, missing the $25.2 billion estimate. The world’s biggest maker of health care products also debuted a strong 2022 forecast
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JNJ | JOHNSON & JOHNSON | 162.97 | -1.90 | -1.15% |
In other pharma news, the Food and Drug Administration is limiting use of Regeneron and Eli Lilly’s COVID-19 treatments due to lack of efficacy, while Pfizer and BioNTech announced clinical trials of their drug specifically to target the omicron variant.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| REGN | REGENERON PHARMACEUTICALS INC. | 621.48 | +0.08 | +0.01% |
| LLY | ELI LILLY & CO. | 240.42 | -2.64 | -1.09% |
| PFE | PFIZER INC. | 51.54 | -1.25 | -2.37% |
| BNTX | BIONTECH SE | 150.98 | +3.48 | +2.36% |
Verizon, American Express and 3M also report ahead of Tuesday’s opening bell.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| VZ | VERIZON COMMUNICATIONS INC. | 52.96 | -0.20 | -0.38% |
| AXP | AMERICAN EXPRESS CO. | 158.93 | +0.19 | +0.12% |
| MMM | 3M CO. | 172.80 | +0.15 | +0.09% |
BIDEN TOUTS PLANS FOR LOWERING PRICES AS INFLATION SURGE CONTINUES
The Federal Reserve will also kick off its two-day meeting with a decision on interest rates set for Wednesday and an update on what continues to be persistent inflation.
“There’s a short-term panic and part of that is the high level of uncertainty around what the Fed is going to do,” said Sylvia Jablonski, chief investment officer at Defiance ETFs.
FORD SHUTS OFF ORDERS FOR NEW $20,000 MAVERICK PICKUP
In cryptocurrencies, Bitcoin continued to recover from Monday’s lows.
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In energy trading, benchmark U.S. crude added 58 cents to $83.89 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 76 cents to $87.03 a barrel.
The Associated Press contributed to this report.
