What Happened in the Market This Week?

After the first week of 2022 began with major losses, this week the stock market continued to face losses as all three major indexes fell. This week, the Dow Jones fell 202.19 points (0.88%) to 35,911.81, the S&P 500 fell 3.85 points (0.30%) to 4,662.85, and the NASDAQ fell 86.75 points (0.28%) to 14,893.75. On the other hand, crypto enjoyed a relatively good week. This week, Bitcoin rose 1,281.80 points (3.06%) to 43,104.70, Etherium rose 234.12 points (7.59%) to 3,317.63, and Cardano rose 0.1453 points (12.90%) to 1.2723. [1] In addition to this, Financials and Energy were the top performing sectors of the week, as many of these stocks performed exceptionally well. In contrast, Information Technology and Real Estate significantly underperformed. This week, it was reported that consumer inflation rose at the fastest pace in nearly forty years in the month of December. The CPI (consumer price index) rose 7% since last December. This has been something investors have been observing and has been one of the main causes for the stock market decline.  

Weekly Market Graphs

This Week’s Equity News

• JPMorgan Chase & Co. (JPM) had a pretty bad Q4 earnings-per-share (EPS) report. Its EPS and revenue were both lower than expected, explaining the drop in share price on Friday. 
• Citigroup Inc. (C) had a pretty good Q4 EPS and revenue report. Both the EPS growth and Revenue growth were higher than expected, but still had a drop in shares price on Friday. 
• Wells Fargo & Co. (WFC) had a fantastic earnings report as profits, revenues, and loans were all reported higher than expected, explaining the boost in share price on Friday.
• BlackRock, Inc. (BLK) missed both its expected EPS growth and expected revenue, explaining its drop in shares price on Friday.
• Wynn Resorts, Limited (WYNN) share price increased nearly 9% this week.
• TPG, Inc. (TPG) was the first major IPO of 2022. Its share price jumped 15% on its day of public trading, giving the company a valuation of over $10 billion. 
• Beyond Meat, Inc. (BYND) share price continues to fall as the outcome of its weather-destroyed, primary US production facility, which is still in effect. Also, its overpriced plant-based beef leaves consumers more inclined to purchase normal beef.
• Delta Air Lines, Inc. (DAL) reported a noted profit for the year in its earnings, despite the numerous flights cancelled in the wake of the Omicron variant.
• Virgin Galactic Holdings, Inc. (SPCE) fell nearly 19% this week after reporting that they are raising $425M+ in debt. Investors see competitor company Blue Origin as a better company. 
• Ford Motor Company (F) shares price increased as they broke a $100B market cap.

This Week’s Gainers

This Week’s Losers

This Week Ahead

Monday January 10:

• Markets are closed in observance of Martin Luther King Jr. Day.

Tuesday December 11:

• Charles Schwab (SCHW) Reports Earnings 
• Goldman Sachs (GS) Reports Earnings
• PNC Financial (PNC) Reports Earnings 
• Truist Financial (TFC) Reports Earnings 
• BNY Mellon (BK) Reports Earnings 
• State Street (STT) Reports Earnings 
• J.B. Hunt (JBHT) Reports Earnings 
• Citrix Systems (CTXS) Reports Earnings
• Signature Bank (SBNY) Reports Earnings

Wednesday December 12:

• UnitedHealth Group (UNH) Reports Earnings 
• Procter & Gamble (PG) Reports Earnings 
• Bank of America (BAC) Reports Earnings 
• ASML (ASML) Reports Earnings
• Morgan Stanley (MS) Reports Earnings 
• U.S. Bancorp (USB) Reports Earnings 
• Discover Financial Services (DFS) Reports Earnings
• Citizens Financial (CFG) Reports Earnings
• United Airlines (UAL) Reports Earnings 
• Comerica (CMA) Reports Earnings

Thursday December 13:

• Netflix (NFLX) Reports Earnings 
• Union Pacific Corporation (UNP) Reports Earnings
• Intuitive Surgical (ISRG) Reports Earnings 
• PPG Industries (PPG) Reports Earnings
• SVB Financial (SIVB) Reports Earnings
• The Travelers Companies (TRV) Reports Earnings
• Northern Trust Corporation (NTRS) Reports Earnings

Friday January 14:

• Schlumberger (SLB) Reports Earnings
• Ally Financial (ALLY) Reports Earnings

[3]

[1]  Index Data is Taken From CNN Business when the markets closed, Bitcoin Data is taken from Google Finance as of 1/14/21 at 10:35 p.m.

[2] Information sourced from Schwab Market Update

[3] Above information is sourced from Investopedia Week Ahead and Yahoo Finance Financial Calendar