Sage Investment Club

Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, January the 19th, 2023-Stock futures traded lower Thursday, building on the losses from the previous session, as rate and recession fears dented market sentiment.Futures tied to the Dow Jones Industrial Average fell 277 points, or 0.8%. S&P 500 futures and Nasdaq 100 futures shed 0.8% and 1%, respectively.Wall Street is coming off a losing session. The S&P 500 tumbled 1.56% on Wednesday for its worst day since Dec. 15. The Dow shed more than 613 points, or 1.81%. The tech-heavy Nasdaq Composite fell 1.24%, snapping seven-straight days of gains. Bank stocks such as JPMorgan, Bank of America and Wells Fargo slid, weighing on the broader market.Disappointing retail sales and a weaker-than-expected producer price index reading ignited recession fears, sending stocks lower.On Thursday, investors will weigh more economic data that could give further clues as how much the Fed may raise interest rates in its upcoming meeting. Initial jobless claims, housing starts and the Philadelphia Federal Reserve’s manufacturing survey will be released in the morning. Several central bank leaders including Fed Vice Chair Lael Brainard will also speak throughout the day on the path forward.Investors have been parsing through the latest data and Fed remarks for clues on how high rates will go. But, while recent numbers point to easing inflation, JPMorgan Chase CEO Jamie Dimon thinks rates will top 5%.“I think there’s a lot of underlying inflation, which won’t go away so quick,” Dimon told CNBC’s “Squawk Box” from the World Economic Forum in Davos, Switzerland.Investors will also be watching key quarterly reports to see if there is an earnings recession brewing. Netflix and Truist Financial are among companies reporting earnings on Thursday.STOCK FUTURES CURRENTLY:YESTERDAY’S MARKET MAP:TODAY’S MARKET MAP:YESTERDAY’S S&P SECTORS:TODAY’S S&P SECTORS:TODAY’S ECONOMIC CALENDAR:THIS WEEK’S ECONOMIC CALENDAR:THIS WEEK’S UPCOMING IPO’S:THIS MONTH’S EARNINGS CALENDAR:THIS WEEK’S EARNINGS CALENDAR:THIS MORNING’S PRE-MARKET EARNINGS CALENDAR:EARNINGS RELEASES BEFORE THE OPEN TODAY:EARNINGS RELEASES AFTER THE CLOSE TODAY:YESTERDAY’S ANALYST UPGRADES/DOWNGRADES:YESTERDAY’S INSIDER TRADING FILINGS:TODAY’S DIVIDEND CALENDAR:THIS MORNING’S STOCK NEWS MOVERS:Roblox — Roblox shares fell 6.7% after Morgan Stanley downgraded the gaming company to underweight from equal weight and said the upside is limited following the stock’s recent outperformance.STOCK SYMBOL: RBLXDiscover — The online bank lost 7.3% despite beating expectations for per-share earnings and revenue. Discover boosted its provision for credit losses compared to the prior year, potentially signaling that it sees a weaker economy ahead.STOCK SYMBOL: DFSCureVac — The biopharmaceutical company jumped 8.2% following an upgrade to buy from neutral by UBS, which said Phase 1 results for a treatment that uses mRNA for influenza saw a “major infection point.”STOCK SYMBOL: CVACAlcoa — The aluminum maker slid 6.4% after reporting net losses for the most recent quarter, saying high costs for energy and raw materials, paired with low aluminum pricing, dragged on earnings.STOCK SYMBOL: AAChegg — The digital learning platform gained 2.5% following an upgrade to overweight from standard weight by KeyBanc. The firm cited the potential for EBITDA upside.STOCK SYMBOL: CHGGCharles Schwab — Shares of the brokerage firm fell 3% after Charles Schwab was double downgraded to underperform from buy at Bank of America. The bank said in a note to clients that Schwab’s growth would decline this year as customers adjust their portfolios to higher interest rates.STOCK SYMBOL: SCHWProcter & Gamble — The consumer goods giant shed more than 2% after reporting mixed quarterly results before the bell. P&G’s adjusted earnings per share for the fiscal second quarter matched expectations at $1.59, but total revenue of $20.77 billion slightly topped estimates of $20.73 billion.STOCK SYMBOL: PGPhilip Morris — Shares of the tobacco company rose more than 1% after Jefferies upgraded the stock to buy from hold and raised its price target. The Wall Street firm said it’s bullish on Philip Morris’ efforts to acquire oral nicotine company Swedish Match.STOCK SYMBOL: PMApple — Shares slid 1.2% after JPMorgan cut its price target on Apple and said the technology company had a tough setup going into earnings from supply headwinds.STOCK SYMBOL: AAPLFord — The automaker fell 1.2% after Evercore ISI cut its price target on the stock, noting that automakers could struggle if a recession comes but see sales come back in the three to six months following.STOCK SYMBOL: FBoot Barn — UBS raised its price target on the stock ahead of the company’s quarterly earnings report. UBS said investor sentiment should remain unchanged and doesn’t expect Boot Barn’s earnings release to be a catalyst. The stock slid 0.6% despite the target increase, however.STOCK SYMBOL: BOOTFULL DISCLOSURE:/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.DISCUSS!What’s on everyone’s radar for today’s trading day ahead here at r/stocks?I hope you all have an excellent trading day ahead today on this Thursday, January 19th, 2023! 🙂

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