Good Morning!
On Wednesday, January 22, the S&P 500 closed at 6,086.37, nearly flat (+0.07%). The NASDAQ gained 0.5%, finishing at 20,009.34 points. The Dow Jones Industrial Average was also flat (-0.06%), closing at 44,156.73. Meanwhile, the Russell 2000 declined by 0.52%, ending the trading session at 2,303.72.
During yesterday's session, the S&P 500 reached an all-time high of 6,100.81 points, driven by rallies in technology, defense, and healthcare stocks.
Crypto Highlights
Bitcoin (BTC): Currently trading at $105,485, up 1.07% over the past 24 hours.
Ethereum (ETH): Slightly down by 0.38%, now trading at $3,280 per coin.
Solana (SOL): Down 2.34%, currently trading at $251.08.
Ripple (XRP): Down 1.14% in the last 24 hours, now at $3.15 per coin.
Yesterday's Earnings
Procter & Gamble (PG): Actual EPS: $1.88 (Beat by 1.08%), Expected EPS: $1.86, Actual Revenue: $21.88B (Beat by 0.88%), Expected Revenue: $21.69B, Market Cap: $385.71B
Johnson & Johnson (JNJ): Actual EPS: $2.04 (Beat by 0.99%), Expected EPS: $2.02, Actual Revenue: $22.52B (Beat by 0.27%), Expected Revenue: $22.46B, Market Cap: $350.09B
Abbott Laboratories (ABT): Actual EPS: $1.34 (Met Expectations), Expected EPS: $1.34, Actual Revenue: $10.97B (Miss by 0.54%), Expected Revenue: $11.03B, Market Cap: $207.81B
GE Vernova LLC (GEV): Actual EPS: $1.73 (Miss by 27.00%), Expected EPS: $2.37, Actual Revenue: $10.56B, Expected Revenue: --, Market Cap: $117.73B
Amphenol (APH): Actual EPS: $0.55 (Beat by 10.00%), Expected EPS: $0.50, Actual Revenue: $4.30B (Beat by 6.17%), Expected Revenue: $4.05B, Market Cap: $93.33B
Kinder Morgan (KMI): Actual EPS: $0.32 (Miss by 5.88%), Expected EPS: $0.34, Actual Revenue: $3.99B (Miss by 5.23%), Expected Revenue: $4.21B, Market Cap: $67.74B
Travelers (TRV): Actual EPS: $9.15 (Beat by 39.48%), Expected EPS: $6.56, Actual Revenue: $12.01B (Beat by 10.80%), Expected Revenue: $10.84B, Market Cap: $55.19B
Discover (DFS): Actual EPS: $5.11 (Beat by 59.69%), Expected EPS: $3.20, Actual Revenue: $4.76B (Beat by 7.94%), Expected Revenue: $4.41B, Market Cap: $50.01B
TE Connectivity (TEL): Actual EPS: $1.95 (Beat by 3.17%), Expected EPS: $1.89, Actual Revenue: $3.84B (Miss by 1.79%), Expected Revenue: $3.91B, Market Cap: $46.19B
Halliburton (HAL): Actual EPS: $0.70 (Met Expectations), Expected EPS: $0.70, Actual Revenue: $5.61B (Miss by 0.53%), Expected Revenue: $5.64B, Market Cap: $25.36B
Teledyne Technologies (TDY): Actual EPS: $5.52 (Beat by 5.54%), Expected EPS: $5.23, Actual Revenue: $1.50B (Beat by 3.45%), Expected Revenue: $1.45B, Market Cap: $23.55B
Steel Dynamics (STLD): Actual EPS: $1.36 (Miss by 3.55%), Expected EPS: $1.41, Actual Revenue: $3.90B (Miss by 2.99%), Expected Revenue: $4.02B, Market Cap: $18.84B
Textron (TXT): Actual EPS: $1.34 (Miss by 0.74%), Expected EPS: $1.35, Actual Revenue: $3.61B (Miss by 4.25%), Expected Revenue: $3.77B, Market Cap: $14.58B
MarketAxess (MKTX): Actual EPS: --, Expected EPS: $1.82, Actual Revenue: --, Expected Revenue: $209.74M, Market Cap: $8.47B
Earnings Today
GE Aerospace (GE): Actual EPS: $1.32 (Beat by 25.71%), Expected EPS: $1.05, Actual Revenue: $9.88B (Beat by 3.24%), Expected Revenue: $9.57B, Market Cap: $221.60B
Intuitive Surgical (ISRG): Actual EPS: --, Expected EPS: $1.75, Actual Revenue: --, Expected Revenue: $2.2B, Market Cap: $217.87B
Texas Instruments (TXN): Actual EPS: --, Expected EPS: $1.21, Actual Revenue: --, Expected Revenue: $3.9B, Market Cap: $179.35B
Union Pacific (UNP): Actual EPS: $2.91 (Beat by 5.05%), Expected EPS: $2.77, Actual Revenue: $6.12B (Met Expectations), Expected Revenue: $6.12B, Market Cap: $150.34B
Progressive (PGR): Actual EPS: --, Expected EPS: $3.53, Actual Revenue: --, Expected Revenue: $18.14B, Market Cap: $140.96B
Elevance Health (ELV): Actual EPS: $3.84 (Miss by 3.52%), Expected EPS: $3.98, Actual Revenue: $45.00B (Beat by 0.22%), Expected Revenue: $44.9B, Market Cap: $91.11B
Freeport-McMoran (FCX): Actual EPS: $0.31 (Beat by 24.00%), Expected EPS: $0.25, Actual Revenue: $5.72B (Miss by 4.83%), Expected Revenue: $6.01B, Market Cap: $52.69B
Fair Isaac (FICO): Actual EPS: --, Expected EPS: $6.08, Actual Revenue: --, Expected Revenue: $451.42M, Market Cap: $45.00B
Crown Castle (CCI): Actual EPS: --, Expected EPS: $0.4488, Actual Revenue: --, Expected Revenue: $1.64B, Market Cap: $37.97B
Las Vegas Sands (LVS): Actual EPS: --, Expected EPS: $0.5828, Actual Revenue: --, Expected Revenue: $2.91B, Market Cap: $31.74B
Northern Trust (NTRS): Actual EPS: $2.26 (Beat by 13.57%), Expected EPS: $1.99, Actual Revenue: $1.97B (Beat by 2.60%), Expected Revenue: $1.92B, Market Cap: $21.93B
McCormick & Co (MKC): Actual EPS: $0.80 (Beat by 3.90%), Expected EPS: $0.77, Actual Revenue: $1.79B (Beat by 1.13%), Expected Revenue: $1.77B, Market Cap: $19.98B
Headlines
Trump Pressures Putin to End Ukraine War with Threats of Sanctions
Former U.S. President Donald Trump has warned Russian President Vladimir Putin to end the war in Ukraine or face "high tariffs and further sanctions." Writing on his social media platform, Truth Social, Trump claimed that resolving the conflict would be a "very big favor" to Russia, adding that failure to reach a deal would prompt severe economic measures. Trump, who previously suggested he could end the war in a single day, emphasized the urgency of negotiations, describing the ongoing conflict as "ridiculous" and predicting it would worsen without intervention.
US Military Deploys Thousands of Troops to Southern Border
The US military is deploying an additional 1,500 active-duty troops to the southern border with Mexico, following an executive order from President Donald Trump to enhance homeland security efforts. This brings the current active-duty force at the border to approximately 3,700, complementing the ongoing Joint Task Force-North mission based in El Paso, Texas. The deployment includes personnel from the Army and Marines, along with helicopters and intelligence analysts, to support Customs and Border Protection (CBP) in detection, monitoring, and logistical tasks. Military aircraft will also assist with migrant repatriation flights, transporting detainees from the San Diego and El Paso sectors.
Beijing Directs Insurers to Invest More in Chinese Stocks to Stabilize Market
Chinese regulators have instructed state-owned insurance companies and mutual funds to significantly increase their investments in domestic equities in an effort to bolster the stock market and restore confidence in the economy. Insurers are required to allocate at least 30% of new policy premiums to local shares, while mutual funds must grow their equity holdings by 10% annually over the next three years. This move marks the first time regulators have set explicit investment targets, with analysts estimating inflows of up to RMB 500 billion ($68 billion) from the three largest state insurers alone.
The announcement, made by agencies such as the China Securities Regulatory Commission and the People’s Bank of China, is part of a broader strategy to stabilize the market amid ongoing geopolitical tensions, a cooling economy, and a property market crisis. The CSI 300 index rose 1% on Thursday following the news, while state-owned insurers like China Life and Ping An saw gains in their stock prices. Analysts remain cautious, however, noting that financial stimulus measures may have diminishing effects.
OpenAI and SoftBank Commit $19 Billion Each to Stargate AI Data Center Project
OpenAI and Japanese conglomerate SoftBank will each invest $19 billion to fund "Stargate," a joint venture aimed at developing advanced AI data centers in the United States, according to The Information. The project, which includes Oracle as a partner, represents a $500 billion initiative over four years to help the U.S. maintain leadership in the global AI race. Initial funding of $100 billion will be deployed immediately, with SoftBank and OpenAI holding 40% stakes in the venture.
Announced by U.S. President Donald Trump earlier this week, Stargate is expected to strengthen AI infrastructure and innovation. Analysts highlight the project’s significance amid increasing global competition, particularly from China.
Palantir-Backed Voyager Technologies Files for IPO
Voyager Technologies, a Denver-based space and defense company backed by Palantir Technologies, has filed for an initial public offering (IPO), aiming for a valuation between $2 billion and $3 billion. Known for its strategic partnership with Palantir, Voyager integrates Palantir’s artificial intelligence capabilities into its defense and national security operations. The company also has 1,000 employees and is developing a commercial space station, "Starlab," funded by NASA.
The IPO comes as space stocks surge following U.S. President Donald Trump’s recent inauguration, during which he emphasized ambitions for space exploration, including a mission to Mars. Shares of space companies like Rocket Lab USA and Intuitive Machines have seen double-digit gains. Founded in 2019, Voyager is positioned to capitalize on this momentum, although the exact IPO date has yet to be announced.
Google Boosts Investment in Anthropic by $1 Billion Amid AI Race
Google is investing an additional $1 billion in Anthropic, the AI startup behind the Claude family of models, as competition intensifies in the generative AI space. This new funding brings Google’s total investment in Anthropic to approximately $3 billion, solidifying its stake as it seeks to rival Microsoft-backed OpenAI, Amazon, and Meta. Anthropic is also nearing a separate $2 billion funding round led by Lightspeed Venture Partners, which would triple its valuation to $60 billion.
Amazon Exits Quebec Operations, Cutting 1,700 Jobs Amid Union Disputes
Amazon has announced plans to end its operations in Quebec, Canada, resulting in approximately 1,700 full-time job losses. The decision affects seven sites across the province and marks a return to Amazon’s pre-2020 third-party delivery model, relying on local businesses. The move follows unionization efforts at one of the warehouses north of Montreal, where workers organized under the Confédération des syndicats nationaux (CSN) earlier this year, citing low wages and inadequate safety measures.
EA Shares Drop 7% After Guidance Cut Due to Weakness in Soccer and Other Games
Electronic Arts (EA) experienced a 7% drop in shares after the company reduced its full-year bookings guidance, citing underperformance in key franchises, particularly its soccer game, EA Sports FC. The fiscal third quarter, which ended December 31, 2024, saw estimated net bookings of $2.215 billion, below the initial forecast of $2.4–$2.55 billion. EA projects full-year net bookings to fall between $7 billion and $7.15 billion, significantly lower than the earlier estimate of $7.5–$7.8 billion. CEO Andrew Wilson acknowledged challenges, noting underperformance in EA Sports FC and Dragon Age, which fell short of player expectations.
