After Hours Report

The stock market had its worst session of the year so far as concerns of a potential trade war between the U.S. and EU sent the S&P 500 (-2.1%), Nasdaq Composite (-2.4%), and DJIA (-1.8%) sharply lower. The S&P 500 and Nasdaq Composite both closed below their respective 50-day moving averages and finished the session in negative year-to-date territory. 

Over the weekend, President Trump called for a 10% additional tariff on eight NATO members that oppose the U.S. acquisition of Greenland.  Bloomberg reported that the EU is considering retaliatory tariffs in response. In a press conference this afternoon, President Trump said he expects things to work out with NATO but doubled down on his stance that Greenland is essential for U.S. security. The president noted he has meetings scheduled with European leaders about Greenland, and he will speak at the World Economic Forum in Davos tomorrow. 

Stocks faced broad-based selling as a result of investors' geopolitical concerns, with a notable lack of any "buy the dip" interest keeping selling the major averages charting session lows through the close. 

Ten S&P 500 sectors moved lower, with seven finishing with losses of 1.0% or wider and six finishing with losses of 2.0% or wider.

The top-weighted information technology sector (-2.9%) was the day's worst performer. NVIDIA (NVDA 178.07, -8.16, -4.38%) was a mega-cap laggard, and Oracle (ORCL 179.97, -11.12, -5.82%) and Broadcom (AVGO 332.60, -19.11, -5.43%) finished with even wider losses. 

The PHLX Semiconductor Index (-1.7%) outperformed the broader sector as Intel (INTC 48.56, +1.60, +3.41%) moved higher after HSBC upgraded the stock to Hold from Reduce. Several memory storage names, such as Sandisk (SNDK 453.12, +39.50, +9.55%), also captured gains after a Micron (MU 365.00, +2.25, +0.62%) executive stated that the AI-driven memory shortage is unprecedented and expected to persist beyond 2026, according to Bloomberg.

The consumer discretionary sector (-2.8%) finished with a similar loss, with Tesla (TSLA 419.25, -18.25, -4.17%) and Amazon (AMZN 231.00, -8.12, -3.40%) also providing weak mega-cap leadership. The Vanguard Mega Cap Growth ETF closed 2.6% lower on the day. 

Elsewhere in the sector, lululemon athletica (LULU 188.76, -13.11, -6.49%) was a considerable laggard after the U.S. Supreme Court did not issue a ruling on the legality of President Trump's IEEPA tariffs today. 

On the earnings front, 3M (MMM 156.09, -11.71, -6.98%) weighed on the industrials sector (-2.0%) after the company beat earnings estimates but issued cautious guidance, while earnings beats from Fifth Third (FITB 50.12, +0.96, +1.95%) and U.S. Bancorp (USB 54.38, -0.02, -0.05%) did little to offset broader losses in the financials sector (-2.2%). 

Only the defensive consumer staples sector (+0.1%) escaped with a gain today.  A majority of the sector's components traded higher, though a loss in Walmart (WMT 118.71, -0.99, -0.83%) limited gains. 

Outside of the S&P 500, the Russell 2000 (-1.2%) and S&P Mid Cap 400 (-1.4%) outperformed the major averages yet again, though they too faced considerable losses. 

Meanwhile, gold futures settled $170.40 higher (+3.7%) at $4,765.80/oz, as investors piled into safe havens.  The CBOE Volatility Index surged 28.8% to 20.42, highlighting the unease across the market today. 

Today's sharp selloff leaves the market on fragile footing heading into the next session, with elevated volatility and technical damage likely to keep risk appetite restrained in the near term. Tomorrow is shaping up to be another potentially consequential day, as investors will hear from President Trump at the World Economic Forum in Davos and digest the November PCE Index (Briefing.com consensus 0.2%), both of which could influence trade-related sentiment and expectations for the policy outlook.

U.S. Treasuries had a mostly lower showing to begin the week, as longer tenors retreated considerably. The 2-year note yield finished unchanged at 3.60%, and the 10-year note yield settled up six basis points to 4.30%. 

There was no economic data of note today.

• Russell 2000: +6.6% YTD
• S&P Mid Cap 400: +4.6% YTD
• DJIA: +0.9% YTD
• S&P 500: -0.7% YTD
• Nasdaq Composite: -1.2% YTD

Overseas:

• Europe: DAX -1.1%, FTSE -0.7%, CAC -0.6%
• Asia: Nikkei -1.1%, Hang Seng -0.3%, Shanghai flat

Commodities:

• Crude Oil +1.02 @ 60.36
• Nat Gas +0.79 @ 3.90
• Gold +170.90 @ 4766.20
• Silver +6.06 @ 94.66
• Copper -0.02 @ 5.81

After-Hours Spotlight:

• Energy Fuels (UUUU) to acquire Australian Strategic Materials...UUUU +1.4%
• F.N.B. Corp (FNB) beats by $0.09, Net Interest Income increased 1.7%...FNB +1.7%
• Hancock Whitney (HWC) reports EPS in-line...HWC flat
• Interactive Brokers (IBKR) beats by $0.06, reports revs in-line...IBKR -0.7%
• Netflix (NFLX) beats by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs below consensus; guides FY26 revs in-line...NFLX -4.8%
• NIKE, Inc. (NKE) Announces New Geography Leadership Appointments...NKE -0.1%
• Progress Software (PRGS) beats by $0.20, reports revs in-line; guides Q1 EPS above consensus, revs above consensus; guides FY26 EPS above consensus, revs in-line...PRGS +8.2%
• United Airlines (UAL) beats by $0.17, reports revs in-line; guides Q1 EPS in-line; guides FY26 EPS in-line...UAL +3.2%
• Zions Bancorp (ZION) beats by $0.19, NII increased 2%; Provides FY26 outlook, including moderate increase in NII...ZION +1.9%

Fair Value for Wednesday, January 21:

• S&P 500: 6,830
• Nasdaq 100: 25,130
• DJIA: 48,668

For a full rundown of today's market and after hours developments, see Live In Play

• Earnings/Guidance (Full Earnings Calendar):
  • 3M (MMM) beats by $0.03, beats on revs; guides FY26 EPS in-line
  • Bakkt (BKKT) reports preliminary Q4 financial results
  • BHP Group (BHP) reports first-half performance and lifts copper guidance
  • BOK Financial (BOKF) beats by $0.32
  • Comerica (CMA) beats by $0.17
  • D.R. Horton (DHI) beats by $0.10, beats on revs; guides FY26 revs in-line
  • Fifth Third (FITB) beats by $0.04, reports revs in-line; provides FY26 guidance
  • Forestar (FOR) misses by $0.02, beats on revs
  • Haleon plc (HLN) reports Q3 results and provides FY25 outlook
  • IAMGOLD (IAG) reports preliminary 2025 results and outlines 2026 outlook
  • KeyCorp (KEY) beats by $0.02, beats on revs; provides FY26 guidance
  • Orla Mining (ORLA) achieves record quarterly production propelling company above 300,000 ounces for 2025, setting up a catalyst-rich 2026
  • PennantPark Investment (PNNT) discloses certain preliminary estimates for the quarter ended December 31
  • Peoples Bancorp (PEBO) beats by $0.01
  • TotalEnergies (TTE) reports Q4 2025 indicators, cash flow resilient despite lower prices
• General News
  • President Trump says he will impose 10% tariff on Denmark, Norway, Sweden, France, Germany, The United Kingdom, The Netherlands, and Finland until deal is reached for Greenland; tariff will increase to 25% on June 1; says he will meet with various parties at Davos
  • The EU is looking to avoid retaliatory action against President Trump's tariffs and seek a diplomatic solution. Officials say it is too early to threaten to deploy the EU's Anti-Coercion Instrument, according to Politico
  • President Trump linked threats to Greenland to missing out on the Nobel Peace Prize, according to WSJ
  • Treasury Secretary Scott Bessent says the threat that Europe would sell treasuries "defies logic.", according to Bloomberg
  • The EU is considering retaliatory tariffs on EUR 93 billion of U.S. goods, according to Bloomberg
  • President Trump tells reporters he will put a 200% tariff on French wine to push French President Macron to join the Board of Peace, according to WSJ
  • The White House considers an executive order to cap credit card interest rates, according to Bloomberg
  • Rick Rieder's candidacy for Fed Chairman is gaining momentum, according to Bloomberg
  • Japan 40-year government bond yield reaches record high after Japan cuts food sales tax, according to CNBC
  • 47% of voters want Democrats to control Congress versus 43% of Republicans, but Democrats often need a bigger lead to produce big gains in Congress. President Trump's approval rating is 45% amid pessimistic views of the economy, according to WSJ
  • China reaches 12 million tons of soy purchases, according to Bloomberg
  • White House issues statement on President Trump’s comprehensive plan to end the gaza conflict
  • A bipartisan healthcare package could move forward, which includes PBM reforms but does not extend Affordable Care Act subsidies, according to Axios
  • DOJ considering removing some gun regulations, according to Washington Post
  • Judge allows Massachusetts to prohibit Kalshi from offering sports event contracts within the state, according to Bookies
  • President Trump is frustrated by his current choices for Fed Chair which include Kevin Hassett, Kevin Warsh, Rick Rieder, and Christopher Waller, according to Bloomberg
  • Alphabet's (GOOG) Gemini saw developer requests double over last five months, according to The Information
  • Americas Silver (USAS) announces strong exploration drilling results at the Galena Complex driving significant growth in the vicinity of the recently discovered high-grade 034 Vein
  • AstraZeneca (AZN) reports ENHERTU combo advances toward EU first-line use in HER2+ metastatic breast cancer
  • AstraZeneca (AZN) to complete direct listing of ordinary shares and all US debt securities on the New York Stock Exchange
  • ATS Corp (ATS) CFO steps down
  • BAE Systems (BAESY) awarded a $204 mln Navy contract
  • Bank of America (BAC) will award $1 bln to employees through its Sharing Success Program, a broad-based equity program for all employees excluding senior management. Awards this year will equate to nearly 19 million shares of BAC common stock
  • Barrick Mining (B) names new CFO; leadership transition set for March
  • Blackstone (BX) mulling sale of Beacon Offshore Energy, according to Bloomberg
  • Boeing (BA) awarded a $25.3 bln Defense Microelectronics Activity contract
  • Boeing (BA) to highlight growth and autonomy at Singapore airshow
  • Boeing (BA): State Department has made a determination approving a possible Foreign Military Sale to the Government of Singapore of Maritime Patrol and Reconnaissance Aircraft P-8A and MK 54 Lightweight Torpedoes and related equipment for an estimated cost of $2.316 bln
  • Bristol-Myers (BMY) Announces collaboration with Microsoft (MSFT) to advance AI-driven early detection of lung cancer
  • Bristol-Myers (BMY) and Syngene International extend long-term research collaboration until 2035
  • Centerra Gold’s (CGAU) Kemess Preliminary Economic Assessment Highlights Strong Economics that Support the Company’s Long-Term Growth Pipeline
  • CGI Group (GIB) exapands global alliance with Google (GOOG / GOOGL) Cloud to advance the responsible, secure and scalable adoption of Gemini Enterprise
  • Dorman Products (DORM) reshapes senior leadership
  • Exelon (EXC): ComEd Files Four-Year Grid Plan to Sustain Reliability, Maintain Affordability and Adapt to Rising Energy Demands
  • Fortuna Silver Mines (FSM) expands Séguéla reserves and mine life
  • Freeport-McMoRan (FCX) discloses that it has resolved an imminent danger order
  • GlaxoSmithKline (GSK), Pfizer (PFE) and Shionogi restructure ViiV Healthcare ownership
  • Goldman Sachs (GS) lawyer Kathryn Ruemmler could soon leave the firm due to her relationship with Jeffrey Epstein, according to WSJ
  • Google (GOOG, GOOGL) to appeal search monopoly ruling, according to CNBC
  • Guardant Health (GH) and Merck (MRK) form multi-year oncology diagnostics collaboration
  • ImmunityBio (IBRX) advances FDA path toward potential ANKTIVA resubmission
  • JPMorgan Chase (JPM): President Trump denies reports he offered Fed Chair job to Jamie Dimon and says he will file lawsuit against JPM for alleged debanking
  • JPMorgan Chase (JPM) wants to cut off financial technology that have questionable customers, according to The Information
  • KeyCorp (KEY) announced several changes to its Board of Directors, reaffirming the Board's commitment to strong corporate governance and long-term shareholder value creation
  • Lockheed Martin (LMT) and BAE Systems (BAESY) awarded a $25.3 bln Defense Microelectronics Activity contract
  • Lotus Technology (LOT) sees major upside from Canada EV tariff shift
  • Lululemon (LULU) founder Chip Wilson in a proxy battle with Advent, according to Semafor
  • lululemon (LULU) pulls new “Get Low” apparel line after early customer complaints, highlighting product risk in premium retail, according to Bloomberg
  • Mastercard (MA) shifts from acquisition to strategic investment talks with crypto firm Zerohash, according to CoinDesk
  • Mesoblast (MESO) receives supportive FDA feedback on rexlemestrocel-L efficacy in chronic low back pain
  • Meta Platforms (META) appointed Dina Powell McCormick to serve as President and Vice Chairman of the Company, effective January 12, 2026
  • Meta Platforms (META): FTC will appeal court ruling in Meta Antitrust case over Instagram and WhatsApp deals, preserving regulatory challenge, according to Reuters
  • Meta Platforms (META) Board to review for first time Meta's approach to disabling accounts
  • Micron (MU) believes the memory shortage is "unprecedented", according to Bloomberg
  • Moderna (MRNA) & Merck (MRK) announce 5-year data for intismeran autogene in combination with KEYTRUDA demonstrated sustained improvement in the primary endpoint of recurrence-free survival in patients with high-risk stage III/IV melanoma following complete resection
  • Modiv Industrial (MDV) increases dividend and provides strategic update
  • Murphy Oil (MUR) reports Civette-1X exploration results in Côte d’Ivoire
  • NovaBay Pharma (NBY) entered into a Securities Purchase Agreement
  • Novartis AG (NVS) CEO Vas Narasimhan in an interview says the company could have U.S. deal that shields it from tariffs, according to CNBC
  • NVIDIA (NVDA) could introduce Windows on Arm notebook this year, according to Digitimes
  • NVIDIA (NVDA) aiming to invest $150 mln in Baseten, according to WSJ
  • OpenAI will introduce its first device this year, according to Axios
  • Organon (OGN) receives FDA approval extending NEXPLANON use to five years
  • PACCAR (PCAR) discloses leadership changes
  • PayPal (PYPL) announces new partnership with april allowing U.S. PayPal Debit Mastercard customers to file their 2025 federal and state tax returns for free
  • PDD Holdings (PDD): China expands investigation into PDD Holdings, according to Bloomberg
  • PJM Board outlines a series of actions to address the challenges of integrating new data centers and other large load customers onto the grid
  • Sequoia Capital aims to make large investment into Anthropic, according to FT
  • Sherwin-Williams (SHW) awarded a $127.5 mln Navy contract to provide worldwide paints, coatings, solvents, preservation products, and engineering and technical services
  • Sibanye-Stillwater (SBSW) updates Keliber lithium project development plan
  • Smith & Wesson Brands (SWBI): Supreme Court appears ready to strike down Hawaii law that limits people carrying firearms onto private property (decision likely in June), according to NBC News
  • Sony (SONY) signed a memorandum of understanding with TCL Electronics Holdings Limited for a strategic partnership in the home entertainment field
  • Sphere Entertainment Co. (SPHR) plans second U.S. Sphere venue at National Harbor
  • Stanley Black & Decker's (SWK) brand, DEWALT, announces in collaboration with leading international mobile robotics company August Robotics, the launch of the world's first downward drilling, fleet-capable robot to enable fast, safe, and efficient concrete drilling to accelerate data center construction
  • State Street (STT) wants to expand further into secondaries, according to Bloomberg
  • Stellus Capital (SCM) reduces regular dividend to $0.34/share from $0.40/share
  • Tesla (TSLA) CEO Elon Musk wants $134 bln from OpenAI & Microsoft (MSFT), according to Reuters
  • Uber (UBER): Israel approves bill for Uber and Lyft (LYFT) to operate, according to Reuters
  • Under Armour’s (UAA) bid for expanded D&O insurance coverage fails as court caps defense costs at $100 mln, according to Bloomberg Law
  • Valneva SE (VALN) withdraws U.S. filings for IXCHIQ chikungunya vaccine
  • Vizsla Silver Corp (VZLA) outlines strong 2025 execution and value-building priorities for 2026
  • Western Midstream (WES) has renegotiated natural-gas gathering and processing contracts in the Delaware Basin with a subsidiary of Occidental Petroleum Corporation , replacing the legacy cost-of-service structure of the gathering contract with a simplified, fixed-fee structure, which will continue to be supported by an acreage dedication
  • YPF Soc. Anonima (YPF) and Limay Energía S.A. (a Rovella Capital Group company) entered into two agreements

• Upgrades:
  • Alcon (ALC) upgraded to Buy from Hold at Deutsche Bank
    
  • Allegiant Travel (ALGT) upgraded to Outperform from Peer Perform at Wolfe Research, tgt $108
    
  • BioMarin Pharmaceutical (BMRN) upgraded to Buy from Hold at Canaccord, tgt $98
    
  • Brinker (EAT) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $200
    
  • Cinemark (CNK) upgraded to Buy from Neutral at MoffettNathanson, tgt $30
    
  • Compass (COMP) upgraded to Buy from Hold at Deutsche Bank
    
  • Curbline Properties (CURB) upgraded to Buy from Hold at Truist
    
  • Doximity (DOCS) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $55
    
  • Enphase Energy (ENPH) upgraded to Buy from Neutral at Goldman Sachs, tgt $45
    
  • Ichor Holdings (ICHR) upgraded to Buy from Hold at Needham, tgt $36
    
  • Intel (INTC) upgraded to Hold from Reduce at HSBC, tgt $50
    
  • NNN REIT (NNN) upgraded to Buy from Hold at Deutsche Bank, tgt $47
    
  • Nova Measuring Instruments (NVMI) upgraded to Buy from Hold at Needham, tgt $500
  • Postal Realty Trust (PSTL) upgraded to Buy from Hold at Truist
    
  • Progyny (PGNY) upgraded to Outperform from Market Perform at Citizens, tgt $30
    
  • PSEG (PEG) upgraded to Overweight from Equal Weight at Wells Fargo, tgt $92
  • Ramaco Resources (METC) upgraded to Buy from Hold at Jefferies, tgt $30
    
  • Realty Income (O) upgraded to Buy from Hold at Deutsche Bank, tgt $69
    
  • ServiceTitan (TTAN) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $131
  • Shake Shack (SHAK) upgraded to Overweight from Equal Weight at Morgan Stanley, tgt $125
    
  • Simon Property Group (SPG) upgraded to Buy from Hold at Deutsche Bank, tgt $205
    
  • Solstice Advanced Materials (SOLS) upgraded to Outperform from Sector Perform at RBC Capital, tgt $75
    
  • Solventum (SOLV) upgraded to Outperform from Neutral at Mizuho, tgt $100
    
  • Suncor Energy (SU) upgraded to Overweight from Neutral at JPMorgan, tgt C$75
    
  • Sun Communities (SUI) upgraded to Buy from Hold at Deutsche Bank, tgt $145
    
  • Sutro Biopharma (STRO) upgraded to Outperform from Market Perform at Citizens, tgt $23
    
  • Toast (TOST) upgraded to Outperform from In Line at Evercore ISI
    
  • Trane Technologies (TT) upgraded to Outperform from Perform at Oppenheimer, tgt $460
  • UDR (UDR) upgraded to Buy from Hold at Truist
    
  • Via Transportation (VIA) upgraded to Overweight from Equal Weight at Morgan Stanley
    
  • Wingstop (WING) upgraded to Buy from Hold at Melius Research, tgt $350
• Downgrades:
  • AvalonBay Communities (AVB) downgraded to Hold from Buy at Deutsche Bank, tgt $172
    
  • AXT Inc. (AXTI) downgraded to Hold from Buy at Needham
    
  • Builders FirstSource (BLDR) downgraded to Equal Weight from Overweight at Stephens, tgt $137
    
  • BWX Technologies (BWXT) downgraded to Neutral from Buy at Seaport Research
    
  • CDW (CDW) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $141
    
  • Cenovus Energy (CVE) downgraded to Neutral from Overweight at JPMorgan, tgt C$25
    
  • Ciena (CIEN) downgraded to Neutral from Buy at BofA Securities
    
  • Commerce.com (CMRC) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $4
    
  • ConocoPhillips (COP) downgraded to Neutral from Overweight at JPMorgan, tgt $98
    
  • CubeSmart (CUBE) downgraded to Hold from Buy at Deutsche Bank, tgt $40
    
  • Domino's Pizza (DPZ) downgraded to Equal Weight from Overweight at Morgan Stanley, tgt $455
    
  • Eagle Materials (EXP) downgraded to Equal Weight from Overweight at Stephens, tgt $245
    
  • Edison International (EIX) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $59
    
  • Equity LifeStyle Properties (ELS) downgraded to Hold from Buy at Deutsche Bank, tgt $65
    
  • Equity Residential (EQR) downgraded to Hold from Buy at Deutsche Bank, tgt $63
    
  • Exact Sciences (EXAS) downgraded to Neutral from Outperform at Mizuho, tgt $105
    
  • Fresenius Medical Care (FMS) downgraded to Neutral from Buy at Goldman
    
  • Hawaiian Electric (HE) downgraded to Underperform from Hold at Jefferies, tgt $12.50
    
  • Huaneng Power International (HNP) downgraded to Sell at Citigroup
    
  • IDACORP (IDA) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $118
    
  • Independence Realty Trust (IRT) downgraded to Hold from Buy at Deutsche Bank, tgt $18
    
  • Incyte (INCY) downgraded to Equal Weight from Overweight at Wells Fargo, tgt $107
    
  • Janux Therapeutics (JANX) downgraded to Hold from Buy at Clear Street
    
  • Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley
    
  • National Health Investors (NHI) downgraded to Hold from Buy at Deutsche Bank, tgt $85
    
  • NetApp (NTAP) downgraded to Underweight from Equal Weight at Morgan Stanley, tgt $89
    
  • NorthWestern Energy (NWE) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $53
    
  • OGE Energy (OGE) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $39
    
  • Philip Morris (PM) downgraded to Hold from Buy at Jefferies, tgt $180
    
  • Public Storage (PSA) downgraded to Hold from Buy at Deutsche Bank, tgt $285
    
  • Rapt Therapeutics (RAPT) downgraded to Hold from Buy at Clear Street
    
  • Regions Financial (RF) downgraded to Market Perform from Outperform at Keefe Bruyette, tgt $31
    
  • Rockwell Automation (ROK) downgraded to Perform from Outperform at Oppenheimer
    
  • Silvercorp Metals (SVM) downgraded to Neutral from Buy at Roth Capital
    
  • Southern Company (SO) downgraded to Underweight from Equal Weight at Wells Fargo, tgt $84
    
  • Sun Country Airlines (SNCY) downgraded to Peer Perform from Outperform at Wolfe Research
    
  • W. R. Berkley (WRB) downgraded to Sell from Hold at TD Cowen, tgt $55
• Others:
  • Agilent (A) initiated with a Buy at HSBC, tgt $180
    
  • Alliant Energy (LNT) initiated with an Overweight at Wells Fargo, tgt $71
    
  • Atai Life Sciences (ATAI) initiated with a Buy at Guggenheim, tgt $11
    
  • Brinker (EAT) initiated with a Buy at TD Cowen, tgt $192
    
  • Celanese (CE) resumed with an Equal Weight at Morgan Stanley, tgt $50
    
  • Clearwater Paper (CLW) initiated with a Hold at Truist, tgt $21
    
  • CytomX Therapeutics (CTMX) initiated with a Buy at Guggenheim, tgt $10
    
  • Group 1 Automotive (GPI) initiated with an Outperform at Evercore ISI
    
  • Opus Genetics (IRD) initiated with a Buy at BTIG Research, tgt $7
    
  • Performance Food Group (PFGC) resumed with an Overweight at Morgan Stanley
    
  • StubHub (STUB) initiated with a Sell at Citigroup, tgt $13
    
  • Texas Roadhouse (TXRH) initiated with a Buy at TD Cowen, tgt $215
    
  • US Foods (USFD) resumed with an Equal Weight at Morgan Stanley
    
  • XP Inc. (XP) initiated with a Buy at Jefferies, tgt $22

• Econ Data (Wednesday):
  • 7:00 ET: Weekly MBA Mortgage Index (prior 28.5%)
  • 8:30 ET: December Housing Starts (prior NA) and Building Permits (prior NA)
  • 10:00 ET: September Construction Spending (Briefing.com consensus 0.0%; prior 0.2%), October Construction Spending (Briefing.com consensus 0.2%; prior NA), and December Pending Home Sales (Briefing.com consensus 0.7%; prior 3.3%)

• Earnings:
  • Monday (Jan 19)
    • Pre-Market: None
    • After-Hours: None
      
    Tuesday (Jan 20)
    • Pre-Market: MMM DHI FAST FITB FOR KEY USB
    • After-Hours: OZK HWC IBKR NFLX PRGS SFNC UAL WTFC ZION
  • Wednesday (Jan 21)
    • Pre-Market: ALLY BKU SCHW CFG HAL JNJ ONB PLD TEL TDY TRV TFC
      
    • After-Hours: BANC CACI FBK FULT KMI KNX PNFP RLI
  • Thursday (Jan 22)
    • Pre-Market: ABT AUB CADE FCX GE HBAN MKC MBLY NTRS OFG ORI PG TCBI
    • After-Hours: ALK AA ASB COF CATY CNS COLB CSX CUBI EWBC GBCI INTC ISRG CASH SLM SSB
  • Friday (Jan 23)
    • Pre-Market: BAH CMA ERIC SLB WBS
    • After-Hours: None