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Happy Sunday! This week might have been the biggest week of 2022 (so far) for economic data and earnings… and we’re having headline fatigue. ๐Ÿ˜…

Indexes were half-and-half. The Nasdaq Composite recovered some of its YTD losses with a small rise, +0.96%. It was joined by the S&P 500, which presented its own modest gains (+0.16%). On the flip, the Russell 2000 dipped –0.76% and the Dow Jones dipped -0.73%. ๐Ÿ“ˆ๐Ÿ“‰

Big Banks kicked off Q4 earnings season this week. Analysts and banks have praised financials as a solid trade to start the year, but so far that suggestion has been rocky at best (when does listening to analysts or banks ever work out?) $XLF has posted among the biggest inflows YTD, but it traded down -1.45% this week. On the flip, smaller “regional banks” cancelled out those big bank losses this week (KRE, +1.84%.)

One sector is kicking arse and taking names, though: energy. The $XLE was up 5.1% this week, buoyed mostly by oil & gas players. ๐Ÿ›ข๏ธ

Meanwhile in cryptoland: the holiday weekend offered some reprieve for the crypto market, which has traded in the red for the greater part of the last two weeks. $ADA.X (+16.4%), $LUNA.X (+15.3%) and $BNB.X (+12.8%) led the ultra large-cap cryptos this week.

Although, one crypto joined the big boys this week… and nobody was even close. $NEAR.X, which has been on a tear, postered the large-caps and small-caps alike, rising 42% on news that the chain raised over $800 million to facilitate growth. With that, it entered a prestigious group of cryptos with market caps north of $10 billion: there are just 23 cryptos that have earned that outsized distinction.

Also, ICYMI: we have a crypto newsletter … and we did an awesome feature with justkila from QiDao, a multi-chain collateralized lending solution. That might sound like a bunch of gibberish, but you’ll definitely want to check out the latest edition of The Litepaper if your interest is piqued by decentralized finance, seeking passive yields while HODLing crypto, and maximizing your crypto. Read it in story #3 of our latest edition.

Also, just a small reminder โ€” markets are closed tomorrow in honor of Martin Luther King Jr. day, so we’re taking the day (and so should you!) We’ll see you back on Tuesday evening. ๐Ÿ’•

Here’s what went down last week:

S&P 500 4,662 +0.16%
Nasdaq 14,893 +0.96%
Russell 2000 2,162 -0.76%
Dow Jones 35,911 -0.56%


Bullets from the Week

Take-Two takes out Zynga in $12.7 billion cash-and-stock-deal. The game studio behind Grand Theft Auto and NBA 2K announced it would purchase Farmville developerย Zynga deal. Take-Two offered a 64% premium and will pay $9.86/share for the company, paid in a mix of cash and stock.ย Read more about it in the Top Story from our Jan. 10 edition of the Rip.

Inflation is up. Investors got a look at refreshed figures from the Consumer Price Index (CPI), America’s choice indicator for inflation. The CPI rose 0.5% in December, marking a cumulative 7% rise in inflation YoY. Higher inflation is believed to be impacting consumer spending patterns, which is supported by this week’s retail sales report as well โ€” retail sales dropped 1.9% in December. The Fed hopes to arrest inflation this year, but depending on who you ask, some people are more concerned about inflation than others.

Big Banks mark sluggish start to earnings szn. A handful of Big Banks helped ring in Q4 earnings season on Friday, but the results were mixed at best. Whileย Wells Fargo bested Q4 earnings and revenue expectations (net income +86% YoY), its close colleagues JPMorgan Chase and Citigroup were not so lucky. Financials will remain in the spotlight this week… see our earnings section below for more information.

Taiwan Semiconductor sets stage for continued semiconductor sector success.ย Taiwan Semiconductor had a lot to say when it reported earnings this week. The company bested earnings and revenue estimates, but it also rose the bar for future quarters, and announced a plan to invest $40 billion this year to expand chip capacity.ย Read that, plus more, in our Jan. 13 edition of The Daily Rip.

Biogen asks Goldman to help them identify acquisition options.ย Pharma giant Biogen was supposed to make a fortune on its new Alzheimer’s drug, Aduhelm. Instead, it might cost them billions. The company has asked Goldman Sachs to help them craft a backup plan in-case their pipe dream fizzles out. As you can imagine, that means M&A. The company is reportedly looking into three names whilst continuing its “phase 4 study” to secure long-term approval and coverage.ย Read the whole story on Stocktwits News.

The Brief

Need a concise summary of what’s going on this week? Look no further.ย Here’s your brief for the trading week starting Jan. 17.

Economic Calendar

1/19 Housing Starts & Building Permits (8:30 AM ET)
1/19 EIA Crude Oil Inventoriesย (10:30 AM ET)
1/20 Initial & Continuing Claims (8:30 AM ET)
1/20 Existing Home Sales (10:00 AM ET)

Peep the full Economic Calendar provided by Briefing for all the reports this week.

Earnings this Week

Now that Big Bank earnings have tipped off, the earnings are gonna come at usย quick. We’ll be covering them in the Rip, but in case you want to keep an eye for yourself, here’s what’s on our radar this week:

We couldn’t possibly fit all the bank & financials companies reporting this week on this list, so feel free to check all the companies reporting this week Stocktwits earnings calendar.