Stocks fall as January winds down - Fox Business

CFRA Chief investment strategist Sam Stovall weighs in on fourth-quarter earnings reports and the Federal Reserve's expected rate hikes this year to combat inflation.

U.S. stocks rallied midday Monday as investors wind down a volatile month and ahead of another busy week for earnings.

The Nasdaq Composite took the lead rising 2.3%% as Tesla and Netflix led the gains.

Ticker	Security	Last	Change	Change %
I:COMP	NASDAQ COMPOSITE INDEX	14101.736741	+331.16	+2.40%
TSLA	TESLA INC.	924.94	+78.59	+9.29%
NFLX	NETFLIX INC.	421.89	+37.53	+9.77%

The Dow Jones Industrial Average rose over 200 points or 0.6%, reversing morning losses and the S&P 500 was higher by 1%..

Ticker	Security	Last	Change	Change %
I:DJI	DOW JONES AVERAGES	34950.5	+225.03	+0.65%
SP500	S&P 500	4486.92	+55.07	+1.24%

For the month, all three of the major averages are down with the Nasdaq fairing the worst off over 10%.

Ticker	Security	Last	Change	Change %
BA	THE BOEING CO.	199.13	+8.54	+4.48%

Boeing rose after announcing a new $6.8 billion order from Qatar Airways for GE9X engines as part of its global launch order of up to 50 Boeing 777-8 Freighters. The commitment, which includes 34 firm 777-8 orders and an additional 16 purchase right options, also includes GE90 engines for an additional order of two Boeing 777 Freighters.

Ticker	Security	Last	Change	Change %
MRNA	MODERNA INC.	167.59	+8.12	+5.09%

Moderna also rose after the Food and Drug Administration fully cleared is COVID-19 use for individuals 18 and over. Prior to, the vaccine was being administered via emergency use classification.

Deal making was active Monday with Citrix Systems confirming it will go private in a deal valued at $16.5 billion as Evergreen Coast Capital Corporation, an affiliate of Elliott Investment Management L.P and Vista Equity Partners, acquire the company.

Ticker	Security	Last	Change	Change %
CTXS	CITRIX SYSTEMS INC.	101.68	-3.87	-3.67%

Blackberry is selling the majority of its patents tied to a legacy smartphone arm for $600 million to Catapult IP Innovations.

Ticker	Security	Last	Change	Change %
BB	BLACKBERRY LTD.	8.19	+0.31	+4.00%

And J.B. Hunt Transport Services Inc is buying Bassett Furniture Industries, Inc.'s Zenith Freight Lines, in a deal valued at $87 million.

Ticker	Security	Last	Change	Change %
JBHT	J.B. HUNT TRANSPORT SERVICES INC.	193.15	+1.25	+0.65%
BSET	BASSETT FURN	18.62	+4.68	+33.57%

In earnings news, Cirrus Logic and NXP Semiconductor are set to report on Monday.

Ticker	Security	Last	Change	Change %
CRUS	CIRRUS LOGIC INC.	87.74	+2.49	+2.92%
NXP	NUVEEN SEL T-F P 3 FD	15.13	+0.05	+0.33%

Later in the week tech will be in focus with Amazon, Google, and Meta Platforms, formerly Facebook, set to report.

Ticker	Security	Last	Change	Change %
AMZN	AMAZON.COM INC.	2,960.27	+80.71	+2.80%
GOOGL	ALPHABET INC.	2,684.49	+17.47	+0.66%
FB	META PLATFORMS INC.	310.21	+8.50	+2.82%

Sony Pictures' "Spider-Man: No Way Home" grossed $11 million over the weekend, according to studio estimates Sunday, bringing its domestic total to $735.9 million. The Marvel hit has accounted for a huge percentage of the month’s ticket sales.

Ticker	Security	Last	Change	Change %
SONY	SONY GROUP CORP.	111.72	+4.87	+4.55%

In commodities, oil hovered around the $87 per barrel level ahead of OPEC's meeting this week.

Ticker	Security	Last	Change	Change %
USO	UNITED STATES OIL FUND L.P.	62.38	+0.42	+0.68%

DRUGMAKERS RAISED PRICES BY 6.6% ON AVERAGE EARLY THIS YEAR

Asian stocks followed Wall Street higher Monday at the start of a week when China, South Korea and Southeast Asian markets will close for the Lunar New Year holiday.

CATHIE WOOD’S ARK FACES LOYALTY TEST AFTER TECH-STOCK ROUT

The major cryptocurrencies – Bitcoin, Ethereum and Dogecoin were all down.

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The Associated Press contributed to this report.

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