5 things to know before the stock market opens on Monday, January 30
Traders in the NYSE hall
Source: New York Stock Exchange.
Here are the most important news investors need to start their trading day:
1. Rally will face challenges this week
2. Apple and Amazon top the revenue list
Tech stocks on Nasdaq.
Peter Kramer | CNBC
Some large technology companies are due to report earnings this week, but there are also large companies from other segments. So far, this reporting season has been mediocre at best, with several companies beating low expectations while others have announced lower expectations ahead of time. Here’s a look at the earnings for the week ahead:
- Tuesday: General Motors, McDonald’s, UPS, pfizer, Spotify (before the call); Click, AMD (after call)
- Wednesday: peloton (before the call); Meta (after call)
- Thursday: An Apple, Alphabet, Amazon, Ford, Starbucks, Qualcomm (after call)
3. Renault seeks to cut Nissan’s share
Renault and Nissan car logos at the Brussels Motor Show on January 9, 2020 in Brussels. (Photo by Kenzo Tribuillard/AFP via Getty Images)
Kenzo Tribuillard | Afp | Getty Images
The two automotive titans are trying to shake things up as the industry shifts more and more to electric vehicles. French Renault and Japanese Nissan have agreed to cooperate. restructure their agreement they made in 1999. Under the agreement, which requires the approval of their respective boards of directors, Renault will reduce its stake in Nissan from 43% to 15%, transferring a larger stake to a French trust that will have “neutralized” voting rights. Nissan has also agreed to invest in Ampere, Renault’s electric vehicle division. They will also work on “high-value operational projects” in Latin America, India and Europe, they said.
4. Walmart insists on its benefits
At Walmart’s flagship stores, such as Teterboro, New Jersey, Walmart showcases many of its exclusive brands, such as its sportswear brand, Love & Sports and Beautiful, a line of kitchen and home decor designed with Drew Barrymore.
Melissa Repko | CNBC
walmart has weathered the recent ups and downs in the retail industry better than many of its smaller competitors, especially Target. Why? Because of its grocery business (the largest in the country) and scale. Even as supply chain issues and staffing imbalances cut into profits, Walmart can still rely on the power of its low-cost grocery offerings to attract even higher-income shoppers looking for value. The general condition and size of the business allows her to mix things up and try new things. The stylish new store format, which resembles Target to some, fits the bill, especially as Walmart tries to keep more affluent customers shopping in the grocery aisle. Reconstruction is slowly unfolding, but is already attracting the attention of some large communities.
5. New from Ukraine
Ukrainian soldiers launch a drone near the Ukrainian town of Bakhmut in the Donetsk region January 25, 2023, amid the Russian invasion of Ukraine.
Anatoly Stepanov | Afp | Getty Images
Ukrainian President Volodymyr Zelensky has urged Western countries to speed up arms shipments as his country continues to face Russian missile attacks and heavy fighting on the battlefield. The US and Germany have promised to send dozens of tanks to Ukraine, fueling rumors that fighter jets will be next. However, German Chancellor Olaf Scholz said that his country is against sending the plane to Ukraine. “The question of combat aircraft does not arise at all,” Scholz told the German newspaper, according to the translation. Read news about the war live here.
— CNBC’s Jesse Pound, Elliot Smith, Melissa Repko and Holly Ellatt contributed to this report.
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