Stock futures fall after repeated gains on Wall Street

GE shares rise on better-than-expected earnings

General Electric traded 2% higher in the premarket after the industrial giant reported quarterly results that beat analysts’ expectations.

GE earned $1.24 per share on revenue of $21.79 billion in the prior quarter. Analysts expected earnings Revenue of $21.59 billion was $1.13 per share, according to Refinitiv.

“2022 marked the beginning of a new era for GE. We successfully launched GE HealthCare, delivered strong financial performance, made significant operational progress, and continued a steadfast commitment to our customers. Thanks to the high-quality work of our team, GE has achieved solid revenue growth and margin expansion. year,” CEO Larry Culp said in a statement.

– Fred Imbert

AMD took a tumble after the Bernstein demotion

AMD Shares fell more than 2% after Bernstein downgraded the semiconductor maker from market outperform. The company cited Worsening personal computer market trends for downgrading.

“It has to be said that the PC environment has gotten significantly worse since then,” Bernstein said in a note to clients. “Our hope that AMD would demonstrate relatively high immunity to channel degradation was unfortunately misplaced, and we remain very cautious about potential PC dynamics in recent months.”

– Alex Haring

European markets were flat as investors digested key PMIs

European markets were mixed on Tuesday as investors digested the latest flash buying managers’ index data from the euro zone in January.

Pan-European Stoxx 600 Index Partially above the flatline in early trade, retail stocks added 0.7%, while oil and gas stocks fell 0.6%.

The S&P Global euro zone Composite PMI came in at 50.2 in January, up from 49.3 in December and ahead of the consensus forecast of 49.8.

CNBC Pro: Goldman Sachs Asset Management singles out corner of US market with ‘huge opportunities’

A Goldman Sachs asset management strategist has named one area of ​​the market that could make a comeback this year.

James Ashley, head of international market strategy at Goldman Sachs Asset Management, pointed to research that has shown these types of companies do better when inflation is high but falling.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Scions shares fall after earnings

Shares Zions Bancorp Earnings for the fourth quarter fell more than 2% despite the regional bank beating estimates. Zions reported earnings of $1.84 per share, above the $1.65 expected by analysts, according to the Street Account. Net interest income also beat estimates.

However, non-interest income was lower than expected, and deposits fell 13% year-on-year to $71.7 billion.

Shares of Scion rose 2.27% in regular trading on Monday ahead of its earnings release.

– Jesse Pound

Stocks should be considered to rally around this key level, Dawson says

According to NewEdge Wealth’s Cameron Dawson, stocks rose on Monday, but not by enough to be considered a true market rally.

“We need to hit that critical level of 4,100,” Dawson told CNBC’s “CLOSING BELL: Overtime“Monday. The S&P 500 hit its 65-day high of 4,100.

The S&P 500 hasn’t reached a major moving point in 2022 because it’s been in decline, Dawson said. If the stock breaks this level, it may indicate that the rally has the potential to move into a new bull market cycle.

Technicals and positioning can only take the stock so far, he added, before a fundamental shift is needed to give the stock forward momentum.

“We need to see a change in fundamentals to really think this rally will continue,” he said.

He warned that stocks will remain upside down until the Federal Reserve fully stimulates and re-stimulates the US economy.

“We cannot go back to pre-pandemic multiples without the central bank’s help,” he said.

If stocks can rally and break a 65-day high, Dawson said, that would reduce the likelihood that the S&P 500 will retest its October lows.

– Carmen Reinicke

The Stock Futures Open has changed little

Futures were little changed on Monday evening after solid gains in stocks during regular trading hours. There have been no large-cap earnings reports since the bell to trigger major moves in the futures market.

– Jesse Pound

Nasdaq and chip stocks led the way on Monday

Stocks enjoyed a broad rally on Monday. Here are some key numbers of the trading session.

  • The Dow closed up 254 points, or 0.76%, at 33,629.56.
  • The S&P 500 closed up 47 points, or 1.19%, at 4,019.81.
  • The Nasdaq Composite rose 224 points, or 2.01%, to close at 11,364.41.
  • Nvidia was the biggest hit on the Nasdaq, adding 36 points.
  • VanEck Semiconductor ETF ( SMH ) rose 4.72% for its best day since November 30.

– Jesse Pound, Christopher Hayes

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