General Electric, 3M, Etsy: What to Watch When the Stock Market | Sidnaz Blog

Here’s what we’re watching ahead of Tuesday’s opening bell.

U.S. stock futures were little changed after major indexes hit records a day earlier and investors got ready for a slew of blue-chip earnings. Read our full market wrap here.

What’s Coming Up

Starbucks,


SBUX -0.44%

Microsoft


MSFT 1.58%

and

Texas Instruments


TXN 0.06%

are due to give results after markets close. 

—The Federal Reserve starts its two-day policy meeting. The International Monetary Fund releases its world economic outlook at 8 a.m. ET. The World Economic Forum’s virtual summit continues from Davos.

Market Movers to Watch

General Electric


GE -1.08%

is up 6% in premarket trading. It reported earnings that missed analysts’ estimates, but said that it ended the fourth quarter with $37 billion of liquidity. 

3M


MMM 0.80%

rose 1.3% in premarket trading. It reported earnings per share that beat estimates and said it expects sales in 2021 to grow up to 8%.

Etsy


ETSY -2.24%

is up 5.8% ahead of the opening bell. Tesla CEO

Elon Musk

tweeted “I kinda love Etsy” and “Bought a hand knit wool Marvin the Martian helm for my dog” in the early hours of the morning. The online marketplace’s shares have rallied more than 17% this month.  

A sign advertising the online seller Etsy Inc. in Times Square following Etsy’s initial public offering on the Nasdaq in New York, April 16, 2015.



Photo:

mike segar/Reuters

—Oil exploration company

Apache


APA -3.97%

is up 5.2%, reversing direction after four straight days of losses.

Johnson & Johnson


JNJ 1.49%

reported earnings per share that shrank in the fourth quarter, but also said that it’s making progress on a Covid-19 vaccine. Its shares are up nearly 1% premarket. 

American Express


AXP -3.96%

shares fell 2% in premarket trading. It reported a decline in fourth-quarter revenue and earnings as it logged a negative provision for credit losses.

Raytheon Technologies


RTX -1.92%

added 2.6% premarket. The aerospace and defense manufacturer reported earnings per share, ex-items, that was above estimates. It also said it has a $67.3 billion backlog for its defense division and that it plans to buy back at least $1.5 billion shares in 2021.  

GameStop


GME 18.12%

is rallying nearly 16% premarket. The videogame retailer’s shares surged to a record on Monday, rising more than 145% at one point, before plunging and seesawing back up again. The battle between day traders and short sellers appears to continue on. 

Market Fact

The Global Cannabis Stock Index, which tracks U.S.-listed marijuana stocks, has climbed 35% since the start of this year.

Chart of the Day

Small-investor trading activity has stayed super hot in 2021, highlighting the opportunity for big banks to tap into a rare source of growth.

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