The Week Ahead – January 24, 2022

We just experienced the worst weekly loss since March of 2020. Be prepared for deeper correction in 2022. There’s more volatility on the way with the Nasdaq down more than 15% from its high.

There’s some important earnings coming in this week, including: Apple, Microsoft, Tesla, Intel, McDonald’s, and Robinhood.

There’s also the Fed meeting, which is likely to dominate conversation. What does the end of quantitative easing look like? Will the fear of impending interest rate hikes move treasury yields further?

Bitcoin lost 16% and Ethereum lost 24% last week. No joke. And Coinbase just announced an NFT marketplace partnership with Mastercard. Everyone knows my thoughts on NFTs, yet Coinbase had a waitlist of 2.5 million on its NFT platform since being announced last October. The NFT market is $44 billion and even Walmart is getting in on the action, hoping to sell its own NFT collection in 2022.

The week will end with the 4th quarter GDP 2021 announcement; expectations settle around 5.8%.

Monday, January 24 Philips (NYSE:PHG), Halliburton (NYSE:HAL) and IBM (NYSE:IBM).

Tuesday, January 25 Verizon (NYSE:VZ), Johnson & Johnson (NYSE:JNJ), Lockheed Martin (NYSE:LMT), American Express (NYSE:AXP), Microsoft (MSFT), Capital One (NYSE:COF), F5 Networks (NASDAQ:FFIV) and Texas Instruments (NASDAQ:TXN).

Wednesday, January 26 AT&T (NYSE:T), Boeing (NYSE:BA), Abbott Labs (NYSE:ABT), Intel (INTC), Tesla (TSLA) and Lam Research (NASDAQ:LRCX).

Thursday, January 27 Tesla (TSLA), Intel (INTC), Comcast (NASDAQ:CMCSA), Dow (NYSE:DOW), McDonald’s (MCD), Mastercard (NYSE:MA), Altria (NYSE:MO), Southwest Airlines (NYSE:LUV), Apple (AAPL), Robinhood Markets (HOOD), Mondelez International (NASDAQ:MDLZ), Visa (NYSE:V) and Western Digital (NASDAQ:WDC).

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Friday, January 28 Chevron (NYSE:CVX), Phillips 66 (NYSE:PSX), Charter Communications (NASDAQ:CHTR), Caterpillar (NYSE:CAT) and Colgate-Palmolive (NYSE:CL).

IPO Watch
Silver Spike Investment (NASDAQ:SSIC) January 28

Credo Technology Group Holding (CRDO) January 29

The FOMC Meeting
We expect three or four quarter-point rate increases this year beginning with the March 15-16 meeting. Fed funds trading suggests rate hikes for the June 14-15 meeting and September 20-21 meeting.

No one knows whether inflation has peaked yet. The odds of a surprise rate hike next week are considered very low, but is not completely off the table.

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