The Week Ahead – January 31, 2022

The S&P 500 Index is down 8% from its all-time high and is off 7% for the month of January.

Investors are facing the reality that a poor performance in January may be a harbinger of things to come. Over the last 50 years, a negative S&P 500 Index return in January was followed by an average return for the next 11 months of 6.7% vs. the average rest-of-the-year return of 14.0% when January saw a gain.

Earnings are due in from Alphabet, AbbVie, Amazon, Ford Motors, Amazon and Starbucks.

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This week will see the release of the January jobs report, which could surprise to the downside due to the Omicron quarantines during the month. The unemployment rate is expected to hold at 3.9%.

There is also an OPEC+ meeting. Expectations are that a decision will be made to raise output by 400,000 barrels a day in monthly increments. A larger increase is not anticipated as some OPEC members have struggled to increase production due to capacity issues. Crude oil imports in China are forecast to increase by up to 7% this year. Oil prices ran up to their highest levels in over seven years on Friday as geopolitical turmoil continues to bubble under the surface.

Monday, January 31 
NXP Semiconductors (NASDAQ:NXPI), Cirrus Logic (NASDAQ:CRUS) and Harmonic (NASDAQ:HLIT).

Tuesday, February 1 
Exxon Mobil (NYSE:XOM), UBS (NYSE:UBS), UPS (NYSE:UPS), Sirius XM (NASDAQ:SIRI), Alphabet (GOOG), General Motors (NYSE:GM), Starbucks (SBUX), AMD (NASDAQ:AMD), PayPal Holdings (NASDAQ:PYPL), Match Group (NASDAQ:MTCH) and Electronic Arts (NASDAQ:EA).

Wednesday, February 2 
AmerisourceBergen (NYSE:ABC), Humana (NYSE:HUM), AbbVie (ABBV), Meta Platforms (NASDAQ:FB) T-Mobile US (NASDAQ:TMUS), Spotify (NYSE:SPOT), Facebook (FB), Qualcomm (NASDAQ:QCOM), Spotify (SPOT) and Qualcomm (QCOM).

Thursday, February 3 
Shell plc (NYSE:RDS.A), Cardinal Health (NYSE:CAH), Cigna (NYSE:CI), Honeywell (NASDAQ:HON), Penn National Gaming (NASDAQ:PENN), Amazon (AMZN), Ford Motor (F), Pinterest (NYSE:PINS), Wynn Resorts (NASDAQ:WYNN), Fortinet (NASDAQ:FTNT), News Corp. (NASDAQ:NWSA), Unity Software (NYSE:U) and Activision Blizzard (NASDAQ:ATVI).

Friday, February 4 
Bristol-Myers (NYSE:BMY), Eaton (NYSE:ETN) and CBOE Global Markets (BATS:CBOE).

IPO Watch
No IPOs are on the calendar for this week.

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