Stocks broke a two-session losing streak on Wednesday, but
just barely, finishing just a tick above their unchanged marks. The S&P 500
opened with a gain of 0.5%, but settled higher by just 0.1%. The Nasdaq
Composite and the Dow Jones Industrial Average had similar outings; the Nasdaq
opened higher by 0.7%, but finished with a gain of just 0.1%, while the Dow
retained 0.3% of its opening gain of 0.9%. All three indices spent some time in
negative territory, but a late uptick brought them back into the green. Small caps
were relatively weak throughout the session, with the Russell 2000 ending lower
Futures are mixed after hours: S&P 500 futures are +2.25 from fair value of 2824 and Nasdaq futures are -29.50 from fair value of 6958.
Notable companies reporting earnings after the close: BRKL, EBAY, EGP, PYPL, CLB, MKSI, T, AFL, AGNC, ALGT, CMO, CTXS, DRE, KRC, LSTR, MAA, MEOH, NOW, SEIC, TSCO, UNM, VRTX, CDNS, EFII, MDP, MSFT, HTLD, AVB, IVAC, MDLZ, QNST, AFG, RNR, X, BHF, CACI, CAVM, CMPR, EGOV, ESIO, FB, KEX, LNC, MUR, MUSA, QCOM, QRVO, RXN, SYMC, THG, BOOT, CNMD, OTEX, QGEN, APU, TTEK, UGI, DHT, EZPW, HI.
Tomorrow morning, companies expected to report earnings include: BX, DGX, BNCL, BAX, BMS, FCFS, GHM, MHO, NOK, WCC, ABMD, BC, BSX, CME, COP, CRS, HSY, LAZ, MCK, MMC, MO, MPC, MPLX, RDN, SAFE, TWX, UPS, USG, UTL, VLO, MTH, ETN, IDXX, MA, XYL, AGI, APO, BDC, CI, INGR, MIXT, PBH, RDS.A, AME, AN, BABA, APTV, DSPG, DWDP, KEM, LPG, MDC, MMP, MSCI, MSGN, OMAM, PH, RACE, RFP, RL, TDY, TUES, CBM, TGI, KELYA, SR, LQDT.
Economic data out tomorrow morning before the open: Initial Claims (Consensus 238K for the week ended 1/27, vs 233K in the prior week), Continuing Claims (Consensus NA for the week ended 1/20, vs 1937 in the prior quarter), Productivity-Prel (Consensus 1.0% for Q4, vs 3.0% in the prior quarter), Unit Labor Costs -- Prelim (Consensus 1.0% for Q4, vs -0.2% in the prior quarter).
Looking at the energy markets after hours here, the EIA released its weekly storage data...
The EIA reports that for the week ending Jan 26th:
- Crude oil inventories had a build of 6.8 million barrels
- Gasoline inventories had a draw of 2 million barrels
- Distillate inventories had a build of 1.9 million barrels
In other news:
- Chevron (CVX) increased its quarterly dividend from $1.08 to $1.12/share.