Wall Street's Top Stories For Tuesday, Jan. 29th

Stocks opened little changed, turned mixed, and stayed that way for the remainder of the session as investors seemed to be on hold ahead of Apple's (AAPL) earnings tonight and the Fed's rate announcement tomorrow. The Dow posted modest gains as several of its constituents reported decent-enough earnings, though the Nasdaq was unable to gain any upside momentum.

ECONOMIC EVENTS: In the U.S., the Case Shiller 20-city home price index slipped 0.1% to 213.66 in November. The Conference Board's Consumer Confidence Index decreased to 120.2 in January from 126.6 in December.

Meanwhile, the Wall Street Journal reported that the Trump administration intends to work with Congress to overhaul Fannie Mae (FNMA) and Freddie Mac (FMCC), downplaying prior reports that suggested the White House would not wait on Congress.

Additionally, the Financial Times reported that President Trump sat down to talk with Russian president Vladimir Putin at the G20 summit in November with no translator or note-taker from the U.S. side to record the dialogue.

COMPANY NEWS: Shares of 3M (MMM) rose 2% after the company reported better than expected earnings and revenue, even though it also lowered its FY19 EPS view.

Fellow Dow member Pfizer (PFE) similarly reported better than expected Q4 results but gave an outlook that was worse than the consensus forecast. Still, the drugmaker gained 3% following its report.

Verizon (VZ), which reported better than expected earnings but lower than expected revenue, said it sees adjusted earnings being "similar" to last fiscal year. Shares of the communications giant finished the day 3% lower.

GameStop (GME) plunged 27% after the company said it would end an effort to sell itself, citing a lack of available financing at terms a buyer would find acceptable.

Meanwhile, California utility PG&E (PCG) and its primary operating subsidiary, Pacific Gas and Electric Company, announced that they have filed voluntary petitions for Chapter 11 bankruptcy protection, stating that it believes this process "will make sure that we have sufficient liquidity to serve our customers and support our operations and obligations."

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