Monday, February 3, 2025
As market participants tussle with the reality of President Trump’s trade war with China, Mexico and Canada to start a new week, booking gains since the start of the year — even since the November 5th election — is the popular move this morning. The Dow has so far shed -600 points, the S&P 500 is -100 and the tech-heavy Nasdaq is -400 points at this hour. The small-cap Russell 2000 is down -50.
Q4 Earnings Season Continues
In terms of sheer volume, this will be the biggest week of Q4 earnings season so far, even as many of the marquee names have already reported for the quarter. This week’s major reports will come from Google-parent Alphabet GOOGL, Walt Disney DIS and Amazon AMZN. Also PayPal PYPL, PepsiCo PEP, Uber UBER and Ford F will help fill out the quarter, which has so far been somewhat better than expected overall.
Early today, Zacks Rank #1 (Strong Buy)-rated Tyson Foods TSN posted a big beat on earnings, with $1.74 per share sweeping past the 79 cents analysts were looking for — a +44.3% earnings beat. Revenues of $13.62 billion also outpaced estimates by +1.09%. Shares are up +6% on the news — on an otherwise dismal trading morning — bringing the shares into positive territory year to date. For more on TSN’s earnings, click here.
Check out the updated Zacks Earnings Calendar here.
After today’s close, we’ll see earnings results from Clorox CLX and NXP Semiconductors NXPI, both of which are expected to bring in losses year over year on both top and bottom lines — double-digits lower on earnings. That said, it’s a good opportunity for both companies to post positive surprises.
Jobs Week Starts Tuesday
After today’s opening bell, we’ll start seeing economic prints hitting the tape. Among these will be January S&P final PMI for Services and Manufacturing, Construction Spending for December and January Auto Sales throughout the day.
It’s also Jobs Week this week. Beginning tomorrow, with the Job Openings and Labor Turnover Survey (JOLTS) numbers coming out for December, private-sector payrolls from ADP ADP for January are out Wednesday morning, Weekly Jobless Claims Thursday and the big Employment Situation report from the U.S. government on Friday ahead of the market open. Expectations there are for a still-strong +175K jobs filled last month, following a robust +256K for December, with an historically low +4.1% Unemployment Rate.
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