Mike’s Morning Brief – January 22, 2020

What’s going on in the world…

Market opens higher, set to erase yesterday’s sell-off. The virus scare in China seems to be getting worse with spreading, as a victim landed in Seattle yesterday. But the Market doesn’t seem to be too concerned about an outbreak. Boeing continues to face challenges, and its stock has put a dent on the DOW. Earnings keep coming in with a mixed tone. IBM grew revenues for the first time in years. Netflix gave disappointing guidance but the stock seems to be taking it in stride. JNJ reported a solid Qtr, but the stock is selling off after a big move to all-time highs. Tesla is now the second largest car company in the world, trailing just Toyota after surpassing Volkswagen. GM is rolling out a driverless shuttle. Apple is reportedly rolling out a lower-priced iPhone. India seems to be the target market. S&P 500 earnings are expected to post y/y decline in Q4. FactSet says this would mark a fourth straight quarter of contraction, meaning S&P already in an earnings recession, but other data providers say this would only be the second. Earnings are expected to rebound in 2020, with over 9% growth. We shall see. It’s the great debate for the Stock Market. Phase 2 talks are unlikely to commence anytime soon. President Trump seems to be moving his attention to Europe on trade.

Have a great morning,

Mike Frazier

We are financial first responders. During this time of crisis, we will continue to operate to serve our clients' financial needs.


Contact us today to see how we can assist you.

COVID-19 Update