Market Briefing For Wednesday, January 24

An earnings parade - accelerates, with to-and-fro responses.. almost circus like, but welcomed.

Freepik

Netflix (NFLX) made numbers, Texas Instruments (TXN) did too, but shy on revenue, so that's the kind of mix we should anticipate from others too.

The Texas Instruments revenue being shy was industrial and automotive, it's not anything 'wrong', but a reflection of sector weakness already well-known, even if others aren't confessing to correction in Autos not just EV segments.

 

Market X-ray: 

Stretching S&P requires more back-filling for this move to hold or persist, although retrenchment a day or two out doesn't mean trend failure.

 

Bottom-line: 

An Oil drawdown reported after the close could help Oil in the morning, but that will reignite talk of price levels not coming down or so on, and it's just nuanced with no serious impact on varying trends.

The devil will be in the details and we'll explore a little where it matters, as well as impacts of back-and-forth negotiations regarding a Middle East ceasefire, if information becomes available.

Futures are up about 9 this evening so it looks like more S&P upside to start the Wednesday session, and then we'll see

Finally, a word of remembrance for a poetic gentle character in the media world, as we mourn the death of Charles Osgood, who indeed put an indelible mark on at least Sunday morning television. No sound bytes or glib sarcasm, just a gentleman with a high journalistic standard that set standards for CBS News.


More By This Author:

Market Briefing For Tuesday, January 23
Market Briefing For Monday, January 22
Market Briefing For Thursday, January 18

This is an excerpt from Gene Inger's Daily Briefing, which typically includes one or two videos as well as more charts and analyses. You can follow Gene on Twitter  more

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