Welcome Back,

Market Headlines 👀 

• Apple (AAPL) announces shutting down a 120 person AI and Siri team in San Diego.

• Jetblue (JBLU) federal judge blocks JetBlue acquisition effort of Spirit airlines.

• Apple (AAPL) officially overtakes Samsung as the world’s largest smartphone maker by volume for the first time in 12 years.

• Tesla (TSLA) is seeking 25% ownership of Tesla, as he fears the future of AI.

• Synopsys (SNPS) chip design software maker will be acquiring Ansys in a $35b deal.

Earnings 💸

• Goldman Sachs (GS)

  • EPS: $5.48 beats (exp. $3.80)

  • Revenue: $11.32b beats (exp. $10.83b)

• Morgan Stanley (MS)

  • EPS: $0.85

  • Revenue: $12.9b beats (exp. $12.79b)

SPX Heatmap 🔥 

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Recap Around the Street 🧠

Job openings have historically tracked S&P performance; however, the two have recently diverged with the decline in the former implying a revenue slowdown in the latter. Couple points of context: 1) decline in job openings come from peak COVID highs and suggest a slowing market rather than a contracting one and 2) response rate to JOLTS has seen a meaningful decline post COVID so data not as robust this cycle.(Contributed by Benjamin Lavine, CIO at Freedom Investment Management (3D)).

Market Preview 🎞️

• Wednesday, January 17th: MBA mortgage applications; NY Fed services activity; Fed beige book

• Thursday, January 18th: Weekly jobless claims; Housing starts; building permits

• Friday, January 19th: University of Michigan sentiment/expectations/current conditions; existing home sales; Monthly options expiration

• —> Podcast spotlight: Pounding the Table 👊 : listen now; where you will find in-depth analysis around these highlights, read company deep dives, and interviews with public CEO's!

Enjoy reading?👇

That’s all for today, folks! We’ll be back around the same time Thursday with a curated list of important news, economic data and market highlights. 

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