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Thursday, January 22

Noteworthy macro moves today: Hang Seng 50 Index (China) +0.6%. Oil (WTI) -1.6%. DAX 30 Index (Germany) +1.2%. Noteworthy US mega-cap moves today: Meta Platforms Inc (META) +2.7%. Alphabet Inc (GOOGL) +2.1%. Alphabet Inc (GOOG) +2.1%. 

Global equity markets are trading higher following positive sentiment from U.S. President Donald Trump's recent announcement regarding a "framework" deal involving Greenland, which has eased geopolitical tensions and boosted investor confidence. This development has particularly benefited energy and technology shares while contributing to a decline in gold prices.

In the U.S., initial jobless claims data released today showed an increase to 200,000 for the week ending January 17, which was lower than market expectations of around 212,000. Additionally, the GDP growth rate for Q3 was revised up to an annualized rate of 4.4%, exceeding forecasts and indicating strong economic performance that is likely to support continued market optimism.

Also released today were UK public sector finance figures showing net borrowing fell to £11.6 billion in December, better than expected and reflecting improved fiscal conditions. The Confederation of British Industry's distributive trades survey also surprised positively with a reading of -17.0, indicating stronger retail activity than anticipated and suggesting resilience in consumer spending trends within the UK economy moving forward into early 2026.

United States Oil Fund LP (USO) [-1.6%]
United States Oil Fund LP (USO) is experiencing a price decline of 1.6% as of the pre-market session. This drop coincides with a broader downturn in oil prices, driven by concerns over market oversupply. Brent crude futures have fallen significantly, reflecting predictions from the International Energy Agency that global oil markets will remain well supplied through 2026. Additionally, Valero and Phillips 66's recent purchase of Venezuelan crude oil represents a notable shift in U.S. Gulf Coast refining activities, aligning with an agreement allowing for the export of up to 50 million barrels from Venezuela. This influx could further influence supply dynamics, potentially affecting pricing considerations for USO.

Communication Services Select Sector SPDR Fund (XLC) [+1.1%]
The Communication Services Select Sector SPDR ETF (XLC) experienced a price increase of $0.75, reflecting a change of 0.65%. This movement aligns with broader sector performance, as the Communication Services sector has gained traction. The ETF recorded a trading volume of 576 shares, indicating moderate activity. Concurrently, U.S. President Donald Trump announced the removal of planned tariffs on eight European countries, easing trade tensions and positively impacting market sentiment. Additionally, strong Q4 financial results from Freeport-McMoRan surpassed estimates due to robust copper prices and operational efficiencies, reflecting overall market strength. Among XLC's holdings, notable contributors included META, GOOGL, GOOG, NFLX, and CHTR, all showing positive returns. Meanwhile, the AUD/USD currency pair increased by 0.90%, suggesting that shifts in currency dynamics are relevant to XLC's performance.

ABT | -7.3% | -14.3B
Abbott Laboratories | Health Care Equipment
Abbott Laboratories reported its Q4 2025 results, revealing an adjusted EPS of $1.50, which met expectations, but revenues of $11.46 billion fell short of the anticipated $11.8 billion. Organic sales growth was recorded at 3%, significantly below the expected 6.18%. For FY2026, Abbott forecasts adjusted EPS between $5.55 and $5.80, slightly above the consensus estimate of $5.15. Additionally, projected organic sales growth for 2026 is estimated at 6.5% to 7.5%. The guidance for Q1 EPS was provided below consensus, contributing to negative sentiment. Following the earnings report, Abbott's shares dropped significantly in pre-market trading, reflecting concerns over the discrepancies between actual performance and forecasts, particularly regarding revenue expectations.

MKC | -6.5% | -1.1B
McCormick & Company Inc | Packaged Foods & Meats
McCormick & Company Inc reported fourth-quarter adjusted earnings per share of 0.86, falling short of the expected 0.88. Sales reached 1.850 billion, slightly exceeding the forecast of 1.845 billion. For fiscal year 2026, the company projected GAAP EPS in the range of 3.05 to 3.13, above the estimate of 2.97, and anticipated net sales growth of 12% to 16% at constant currency. Additionally, McCormick announced the appointment of Gavin Hattersley and Rick Dierker to its Board of Directors, effective February 1, 2026, following the retirement of two long-serving directors.

GE | -3.6% | -12.0B
General Electric Co | Industrial Conglomerates
General Electric Co's Aerospace division reported fourth-quarter results that surpassed analyst expectations, with adjusted earnings per share of $1.57 and revenue of $12.717 billion. Orders in this segment surged significantly, increasing by 74% year-over-year to $27 billion. The company also provided guidance for fiscal year 2026, projecting adjusted EPS between $7.10 and $7.40 and free cash flow of $8 billion to $8.4 billion. Despite these positive results, GE acknowledged ongoing commodity inflation and cost pressures, which may affect future pricing strategies. CEO Larry Culp noted a sustained demand in the airline and defense sectors, although concerns regarding commodities inflation persist. Additionally, a joint venture with FTAI Aviation aims to bolster the maintenance ecosystem for CFM56 engines amid strong demand for narrowbody aircraft.

COHR | +4.2% | +1.4B
Coherent Corp | Electronic Components
Coherent Corp. announced that it will release its financial results for the second quarter of FY2026 on February 4, following the market close. A live audio webcast is scheduled for 4:30 p.m. ET to discuss these results, with a replay available on the company's website within 24 hours. This announcement was made approximately 15 hours ago. Stifel has maintained a "Buy" rating on Coherent and has raised its price target to 220, published just 6 minutes ago. These developments coincide with a price increase of 4.4% since Wednesday, suggesting a favorable market reaction.

META | +2.8% | +44.5B
Meta Platforms Inc | Interactive Media & Services
Meta Platforms Inc. has experienced a price increase, aligning with the upward movement in the Interactive Media & Services sector. Jefferies has reiterated a "Buy" rating for Meta, maintaining a price target of 910, which reflects confidence in the company's future prospects. Concurrently, reports indicate that Meta is implementing layoffs to rebalance its spending priorities, marking a shift in operational focus despite previous assertions to halt extensive cost-cutting measures. On social media, discussions highlight a significant move for Meta off a support level of 607.25, with targets set at the 50-day moving average of 638.35. There has also been a notable increase in call options activity, suggesting renewed buyer interest. Additionally, Meta is reported among the top open buys, showing a remarkable increase as of January 21, 2026, underscoring its relevance in current market discussions.

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