Market Recap – January 25th
Markets were red yesterday, with nearly all stocks extending their losses at the start of trading day. Main factors investors are keeping an eye on include the Federal Reserve’s policy-setting meeting, rate hikes, and a lackluster start to earnings season. In addition to this, the IMF downgraded their economic forecast as a result of uncertainty regarding Omicron and inflation.
Two specific stocks we’ve been watching are Johnson & Johnson and 3M. JNJ barely made the earnings cut – sitting just by a penny a share above expectations, with quarterly earnings of $2.13 per share. 3M, on the other hand, rose 1.9% after an EPS 30 cents a share above estimates.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.