Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas. Its Chemical segment manufactures and markets basic chemicals, including chlorine, caustic soda, chlorinated organics, potassium chemicals, ethylene dichloride, chlorinated isocyanurates, sodium silicates, and calcium chloride; and vinyls comprising vinyl chloride monomer, polyvinyl chloride, and ethylene. The Midstream and Marketing segment gathers, processes, transports, stores, purchases, and markets oil, condensate, NGLs, natural gas, carbon dioxide, and power. This segment also invests in entities. Occidental Petroleum Corporation was founded in 1920 and is headquartered in Houston, Texas.

Occidental Petroleum Corporation

Wall Street analysts expect Occidental Petroleum (OXY) to post quarterly earnings of $0.19 per share in its upcoming report, which indicates a year-over-year decline of 76.3%. Revenues are expected to be $5.88 billion, down 14% from the year-ago quarter.
The current level reflects a downward revision of 42.2% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Occidental metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Net sales- Oil and gas' reaching $4.93 billion. The estimate indicates a change of -12.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Net sales- Midstream & marketing' should come in at $359.46 million. The estimate points to a change of +154.9% from the year-ago quarter.
It is projected by analysts that the 'Net sales- Chemical' will reach $941.78 million. The estimate points to a change of -22.6% from the year-ago quarter.
The average prediction of analysts places 'Interest, dividends and other income' at $54.50 million. The estimate indicates a year-over-year change of +32.9%.
The collective assessment of analysts points to an estimated 'Revenue- Oil- United States' of $3.52 billion. The estimate indicates a change of -12.8% from the prior-year quarter.
Analysts expect 'Revenue- NGL- United States' to come in at $454.04 million. The estimate points to a change of -17.6% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- GAS- United States' should arrive at $240.08 million. The estimate points to a change of +20% from the year-ago quarter.
The consensus among analysts is that 'Revenue- Oil & Gas- United States' will reach $4.20 billion. The estimate points to a change of -11.7% from the year-ago quarter.
The consensus estimate for 'Worldwide Sales - Total Continuing Operations Production Per Day' stands at 1,463.94 thousands of barrels of oil equivalent per day. The estimate compares to the year-ago value of 1,463.00 thousands of barrels of oil equivalent per day.
The combined assessment of analysts suggests that 'Net Production Volumes Per Day By Commodity - Oil - Total Worldwide' will likely reach 749.09 thousands of barrels of oil per day. The estimate compares to the year-ago value of 736.00 thousands of barrels of oil per day.
Analysts forecast 'Average Realized Prices - Oil - Total Worldwide' to reach 60 dollars per barrel. Compared to the current estimate, the company reported 70 dollars per barrel in the same quarter of the previous year.
Analysts predict that the 'Average Realized Prices - NGLs - Total Worldwide' will reach 17 dollars per barrel of oil equivalent. The estimate is in contrast to the year-ago figure of 22 dollars per barrel of oil equivalent.
View all Key Company Metrics for Occidental here>>>
Over the past month, Occidental shares have recorded returns of +7.9% versus the Zacks S&P 500 composite's -1.7% change. Based on its Zacks Rank #4 (Sell), OXY will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Unveiling Occidental (OXY) Q4 Outlook: Wall Street Estimates for Key Metrics

Key Points
Occidental Petroleum reports its fourth-quarter financial results on Feb. 18.
The oil company has a knack for delivering better-than-expected financial results.
Oil prices have had a meaningful impact on its stock price over the past few months.
Investors interested in Occidental Petroleum (NYSE: OXY) should circle Feb. 18 on their calendar. That's the date the oil and gas giant will report its fourth-quarter and full-year earnings. It could serve as a catalyst for the company's stock price.
Here's a look at what transpired the last time Occidental Petroleum reported earnings and what to expect this time around. That should help you decide whether to buy the oil stock before its next earnings report or wait until after.
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A strong third quarter
Occidental Petroleum reported its third-quarter financial results on Nov. 10. The energy producer had a strong quarter. Its oil and gas output exceeded the high end of its guidance range, reaching nearly 1.5 million barrels of oil equivalent per day. Its midstream and marketing segment also delivered results that exceeded the high end of its guidance range. This strong showing enabled the company to report $0.64 per share of adjusted net income, which beat the analysts' consensus estimate by $0.12 per share.
The company benefited from higher oil and gas prices. It sold its oil for an average of $64.78 per barrel during the period, a 2% increase from the prior quarter. Meanwhile, the average price it sold its natural gas was 11% higher than the previous quarter.
Despite its strong quarterly results, Occidental Petroleum's stock barely budged after it reported earnings:
As that chart shows, shares dipped in the weeks following its earnings before rocketing more than 10% in January. The company got a boost from oil prices and forward progress on its strategic plan to enhance shareholder value.
What to expect on Feb. 18
Occidental Petroleum likely faced some headwinds in the fourth quarter. Oil prices declined by about 10% during the period, which likely pressured its earnings. That reflects in the analysts' consensus estimate, which is only $0.19 per share for the fourth quarter.
While analysts aren't optimistic about Occidental's fourth-quarter earnings, they tend to underestimate the oil company. It beat the consensus estimate for three straight quarters last year, largely due to its strong operations. Given that history, it wouldn't be surprising to see Occidental beat the analysts' consensus earnings estimate again during the fourth quarter.
However, that doesn't necessarily mean the stock will pop after earnings. Changes in oil prices are a much more meaningful catalyst for Occidental these days. Crude prices have been on the rise this year, fueled by the potential for supply disruptions related to Iran amid growing tensions with the U.S. If the U.S. takes military action against Iran, crude prices could soar, taking Occidental Petroleum's stock up with them.
Buy on oil prices, not on earnings
While Occidental Petroleum will undoubtedly report lower fourth-quarter earnings on Feb. 18 due to weaker oil prices during the quarter, it wouldn't be a surprise to see it beat analysts' expectations again. However, that might not cause the stock price to pop. What could cause shares to surge is military action in Iran. Given that, you might want to buy the energy stock before it reports earnings if you think oil prices might spike soon.
Should you buy stock in Occidental Petroleum right now?
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Should You Buy Occidental Petroleum Stock Before Feb. 18?

Occidental Petroleum Corporation OXY is expected to report a year-over-year decline in both top and bottom lines when it reports fourth-quarter 2025 results on Feb. 18, after market close.
The Zacks Consensus Estimate for revenues is pinned at $5.88 billion, indicating a decline of 13.96% from the year-ago reported figure. The consensus mark for earnings is pegged at 19 cents per share, indicating a year-over-year decline of 76.25%. The bottom-line estimate has gone down 44.12% over the past 60 days.
Image Source: Zacks Investment Research
OXY’s Earnings Surprise History
Occidental Petroleum’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 27.8%.
Image Source: Zacks Investment Research
What the Zacks Model Unveils
Our model does not predict a likely earnings beat for OXY this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here, as you can see below.
Occidental Petroleum Corporation Price and EPS Surprise
You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.
Earnings ESP: OXY has an Earnings ESP of -5.88%.
Zacks Rank: Occidental Petroleum currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings Surprise by Others This Season
Some stocks from the same sector that have the combination of factors indicating an earnings beat are Cameco Corporation. CCJ, Sunrun RUN and South Bow Corporation SOBO. CCJ, RUN and SOBO have a Zacks Rank #2. CCJ, RUN and SOBO currently have an Earnings ESP of +2.35%, +87.34% and +2.99%, respectively.
Factors Likely to Have Shaped OXY’s Q4 Earnings
OXY’s fourth-quarter production volumes are expected to have remained strong due to continued strong performance across all three domestic assets. The strong domestic production is expected to have offset the impacts from a scheduled turnaround at Al Hosn.
Occidental Petroleum has been generating cash flow and utilizing the same to reduce debts, which is likely to have a positive impact on earnings. The company retired debts worth $8.1 billion, which lowered annual interest expenses by $440 million. This might have a positive impact on fourth-quarter earnings per share.
Midstream and Marketing segment is expected to have contributed to fourth-quarter performance due to gas marketing opportunities and stronger-than-anticipated sulfur pricing.
Occidental Petroleum’s cost management initiatives have been yielding positive results. These initiatives are likely to have improved margins with a positive impact on earnings.
OXY’s Q4 Expectation
For the fourth quarter of 2025, Occidental Petroleum expects production of 1,440-1,480 thousand barrels of oil equivalent per day (Mboe/d). Output from the Permian Resources segment is pegged at 795-815 Mboe/d.
OXY’s Price Performance
OXY’s shares have gained 6.4% in the past three months compared with the industry’s growth of 15.5%.
Image Source: Zacks Investment Research
OXY Stock Trading at a Premium
Occidental Petroleum’s shares are somewhat expensive on a relative basis, with its current trailing 12-month Enterprise Value/Earnings before Interest Tax Depreciation and Amortization (EV/EBITDA TTM) being 5.48X compared with the industry average of 4.89X.
Image Source: Zacks Investment Research
Investment Thesis
Occidental Petroleum has continued to benefit from its strong U.S. footprint and disciplined emphasis on the Permian Basin, where the core development areas are delivering solid performance. Acquired assets are expected to have supported production growth during the fourth quarter.
Occidental Petroleum’s decision to sell the chemical business, OxyChem, to Berkshire Hathaway will allow it focus more on the core operation and further reduce debts and strengthen operations.
However, since the company typically maintains exposure to market commodity prices, the fluctuating oil prices can have an adverse impact on earnings.
Summing Up
Occidental Petroleum’s cash flow generation, initiative to lower debts and contribution from acquisitions are expected to have boosted its performance. Earnings from the Midstream segment are expected to be strong in the to-be-reported quarter.
Given OXY's weaker return than industry and premium valuation, it will be better for the investors to stay away from the stock and wait for a better entry point.
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Occidental Set to Release Q4 Earnings: Buy, Hold or Sell the Stock?

Key Points
Oil prices soared last month, snapping a six-month downtrend.
Occidental Petroleum closed the sale of OxyChem last month, significantly enhancing its balance sheet.
The oil company also amended a midstream contract that will save it some money.
Occidental Petroleum (NYSE: OXY) started 2026 off with a bang. Shares of the oil and gas producer rallied 10.4% in January. That meaningfully outperformed the S&P 500's 1.4% rise last month.
A rebound in crude oil prices was a major catalyst for the oil stock last month. However, it wasn't the only factor behind Occidental's January surge.
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Ending the drought in a big way
Crude prices skyrocketed last month. Brent, the global oil benchmark, rocketed 16%, while WTI, the U.S. benchmark, surged 14%. That was the first monthly rise in oil prices in six months.
Oil rallied amid potential supply disruptions. The U.S. military captured the former Venezuelan President Nicolás Maduro and later charged him with narcoterrorism. While the country's oil infrastructure needs a major rebuild, which will take time, there's potential for supply outages in the interim. Additionally, tensions between the U.S. and Iran are growing, which could also cause supply disruptions.
Higher oil prices will have a direct benefit on Occidental Petroleum's bottom line. They would enable the company to produce more cash, which it can use to repay debt and return to shareholders.
More forward progress
Oil prices weren't the only upside catalyst for Occidental Petroleum last month. The oil giant closed the sale of its former chemicals business, OxyChem, to Berkshire Hathaway in early January. The oil company received $9.7 billion in cash for the unit. Occidental expects to use $6.5 billion of that cash to reduce debt, enabling it to achieve its target of bringing its principal debt balance below $15 billion. As a result, it will now have greater flexibility to focus on growing its oil and gas production and delivering long-term value for shareholders.
Occidental Petroleum also amended its existing Delaware Basin natural gas gathering contract with its affiliated master limited partnership, Western Midstream Partners. They're transitioning from a cost-of-service agreement to a fixed-fee structure. As part of the deal, Occidental will transfer 15.3 million Western Midstream common units it currently owns to the MLP, valued at $610 million. As a result, Occidental's ownership will fall from 42% to 40%. Overall, the deal will save Occidental Petroleum money in the near term, giving it more flexibility to develop its oil and gas assets tied to this midstream agreement. Meanwhile, the transaction enables Western Midstream to continue its evolution toward becoming a stand-alone entity.
A strong start to 2026
Occidental got a lift from higher oil prices at the start of the year. They position it to produce more cash in 2026 to further strengthen its balance sheet, which is now at its targeted debt level following the sale of OxyChem. The company will get a further cash flow boost from its lower interest expenses and its amended contract with Western Midstream. These improvements enhance its long-term investment appeal, even after last month's rally in its share price.
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Matt DiLallo has positions in Berkshire Hathaway. The Motley Fool has positions in and recommends Berkshire Hathaway. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Occidental Petroleum Stock Rocketed More Than 10% in January

FuelCell Energy’s FCEL carbon capture platform is positioned as a response to mounting economic pressure on aging coal and natural gas assets. Rising emissions constraints are increasing compliance costs, while permanently shutting down plants would be expensive and politically complex.
Many facilities still provide critical grid reliability and thermal output, making early retirement disruptive. FuelCell Energy’s approach focuses on extending the productive life of these assets by integrating carbon capture directly into existing exhaust streams, allowing continued operation with significantly lower emissions while avoiding the financial burden of replacement infrastructure.
Unlike conventional carbon capture systems that consume roughly 20% of a plant’s power output, FuelCell Energy’s carbonate fuel cells generate additional electricity during the capture process. This incremental power creates new revenue streams that improve overall project economics. On-site power and heat production also reduce operating costs by avoiding transmission losses that typically average about 5% on the U.S. grid. High-temperature operation enables combined heat and power applications, allowing facilities to utilize both electricity and thermal energy efficiently at the point of use.
Scalability further strengthens FuelCell Energy’s commercial positioning. The modular design supports deployments ranging from sub-megawatt installations to multi-megawatt fuel cell parks. Individual stacks produce between 250 kilowatts and 400 kilowatts, while four-stack modules net about 1.4 megawatts, enabling flexible system sizing. This stack-level and module-level configuration supports a wide range of industrial and utility applications. Improved capture economics, asset life extension, and scalable deployment collectively enhance FuelCell Energy’s potential demand profile and long-term investment appeal.
While innovative platforms like FuelCell Energy highlight how carbon capture can improve the economics of existing fossil power plants, the momentum behind carbon capture and storage (“CCS”) is not limited to emerging technology providers. Large, established energy companies are also committing capital and decades of operational expertise to scale carbon capture as a core part of their long-term strategy.
Established Energy Players Deepen Commitment to Carbon Capture
Oil and gas major Chevron Corporation CVX sees CCS as a key tool for a lower-carbon future and has decades of experience in this space. Chevron helped pioneer large-scale CO2 injection at its SACROC unit nearly 40 years ago and has safely operated CO2 pipelines like the Chevron-led Raven Ridge line in Colorado for decades. Chevron also leads the Gorgon CCS project, which has injected over 10 million tons of CO2, and is advancing new projects such as Bayou Bend CCS in Texas.
Meanwhile, another energy biggie, Occidental Petroleum OXY, has more than 50 years of experience in carbon storage, making carbon capture central to its climate strategy. Occidental Petroleum believes large-scale carbon capture, utilization and storage can deliver near-term emissions reductions and long-term climate benefits. Through Occidental Petroleum’s subsidiary 1PointFive, the company is scaling Direct Air Capture technology developed by Carbon Engineering. Occidental Petroleum also invests in carbon utilization, storage hubs, and carbon markets to support global CO2 removal and net-zero goals.
The Zacks Rundown on FCEL
Shares of FuelCell Energy have gained 46.4% over the past six months, breezing past the industry's growth.
Image Source: Zacks Investment Research
FCEL currently has an average brokerage recommendation (ABR) of 3.44 on a scale of 1 to 5 (Strong Buy to Strong Sell), calculated based on the actual recommendations (Buy, Hold, Sell, etc.) made by nine brokerage firms.
Image Source: Zacks Investment Research
The chart below shows FCEL’s earnings over the past four quarters.
Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Can FuelCell Energy Improve ROI at Fossil Power Plants?

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.54%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +1.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.73%. March E-mini S&P futures (ESH26) rose +0.57%, and March E-mini Nasdaq futures (NQH26) rose +0.76%.
Stock indexes settled higher on Monday as signs of strength in US manufacturing activity bolstered optimism about the economic outlook, following the release of the Jan ISM manufacturing index, which expanded by the most in more than 3.25 years. Also, strength in chip makers and AI-infrastructure stocks supported gains in the broader market on Monday.
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The US Jan ISM manufacturing index rose +4.7 to 52.6, stronger than expectations of 48.5 and the strongest pace of expansion in more than 3.25 years.
Comments from Atlanta Fed President Raphael Bostic were bearish for stocks on Monday, when he said, "We have so much momentum in the US economy that the Fed needs to keep the policy rate in a mildly restrictive stance," and therefore doesn't project any rate cuts for 2026.
Energy producers were under pressure Monday, as WTI crude oil prices sank by more than 4% amid easing geopolitical risks after President Trump said the US is talking to Iran, and Iran’s foreign ministry said it hopes diplomatic efforts will avert a war.
Cryptocurrency stocks retreated on Monday as Bitcoin (^BTCUSD) tumbled more than -7% to a 9.75-month low. According to Coinglass, nearly $590 million in long Bitcoin positions were liquidated over the weekend.
Signs of weakness in China’s economy are bearish for global growth prospects and stocks. The Shanghai Composite Stock Index fell more than -2% on Monday to a 4-week low after the China Jan manufacturing PMI unexpectedly fell -0.8 to 49.3, weaker than expectations of no change at 50.1. Also, the Jan non-manufacturing PMI unexpectedly fell -0.8 to 49.4, weaker than expectations of an increase to 50.3 and the steepest pace of contraction in three years.
The partial US government shutdown, now in its third day on Monday, has dampened investor sentiment as markets await the House's approval of a funding deal President Trump worked out with Democrats. The funding lapse may be short-lived, however, with the House returning from a week-long break Monday and possibly voting on the spending bill later Monday or on Tuesday.
The markets this week will focus on tariff news, earnings, and economic news. On Wednesday, the Jan ADP employment change is expected to increase by +45,000. Also, the Jan ISM services index is expected to fall by -0.3 to 53.5. On Thursday, initial weekly unemployment claims are expected to increase by 3,000 to 212,000. On Friday, the University of Michigan Jan consumer sentiment index is expected to fall -1.5 to 54.9.
Q4 earnings season is in full swing, with 150 of the S&P 500 companies scheduled to report earnings this week. Earnings have been a positive factor for stocks, with 78% of the 167 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting an 12% chance for a -25 bp rate cut at the next policy meeting on March 17-18.
Overseas stock markets settled mixed on Monday. The Euro Stoxx 50 closed up by +1.00%. China’s Shanghai Composite fell to a 4-week low and closed down -2.48%. Japan’s Nikkei Stock 225 fell from a 2.5-week high and closed down -1.25%.
Interest Rates
March 10-year T-notes (ZNH6) on Monday closed down by -7.5 ticks. The 10-year T-note yield rose +3.2 bp to 4.269%. T-notes gave up an early advance and turned lower on Monday, and the 10-year T-note yield rose to a 1.5-week high of 4.281% after the Jan ISM manufacturing index expanded by the most in more than 3.25 years, dampening expectations of further Fed rate cuts. Also, strength in stocks today has reduced safe-haven demand for T-notes. Losses in T-notes accelerated on Monday after Atlanta Fed President Raphael Bostic said he doesn't project any rate cuts for 2026.
T-notes also have some negative carryover from last Friday when President Trump nominated Keven Warsh as the next Fed Chair. Mr. Warsh is seen as more hawkish than other Fed Chair candidates and often emphasized inflation risks during his tenure as a Fed Governor from 2006-2011.
European government bond yields were mixed on Monday. The 10-year German bund yield rose +2.5 bp to 2.868%. The 10-year UK gilt yield fell -1.5 bp to 4.506%.
The Eurozone Jan S&P manufacturing PMI was revised upward by +0.1 to 49.5 from the previously reported 49.4.
German Dec retail sales rose +0.1% m/m, right on expectations, and Nov retail sales were revised upward by +0.1 to -0.5% m/m from the previously reported -0.6% m/m.
Swaps are discounting a 2% chance of a +25 bp rate hike by the ECB at Thursday’s policy meeting.
US Stock Movers
Chip makers and AI infrastructure stocks rallied on Monday, lifting the overall market. Sandisk (SNDK) closed up more than +15% to lead gainers in the S&P 500 after CTBC Securities Investment Service Co Ltd initiated coverage on the stock with a buy recommendation and a price target of $660. Also, Western Digital (WDC) closed up by more than +7% to lead gainers in the Nasdaq 100, and Seagate Technology Holdings Plc (STX), Micron Technology (MU), and Intel (INTC) closed up by more than +5%. In addition, Texas Instruments (TXN) and Advanced Micro Devices (AMD) closed up more than +4%, and Microchip Technology (MCHP) and NXP Semiconductors NV (NXPI) closed up more than +2%.
Airline stocks rose on Monday after crude prices fell by 4%, which lowers fuel prices and increases airlines’ profits, and after US manufacturing activity expanded by the most in 3.25 years, boosting optimism about the economic outlook. United Airlines Holdings (UAL), Delta Air Lines (DAL), Southwest Airlines (LUV), and Alaska Air Group (ALK) closed up by more than +4%, and American Airlines Group (AAL) closed up by more than +3%.
Energy producers and energy service companies retreated on Monday as WTI crude oil fell by more than -4%. Diamondback Energy (FANG) and Occidental Petroleum (OXY) closed down more than -3%, and ConocoPhillips (COP), Exxon Mobil (XOM), and Halliburton (HAL) closed down more than -2%. In addition, APA Corp (APA) and Chevron (CVX) closed down more than -1%.
Cryptocurrency-exposed stocks sold off on Monday as Bitcoin plunged more than -7% to a 9.75-month low. Galaxy Digital Holdings (GLXY) closed down more than -7%, and Strategy (MSTR) closed down more than -6%. Also, MARA Holdings (MARA) and Coinbase (COIN) closed down more than -3%, and Riot Platforms (RIOT) closed down -0.84%.
Natural gas producers fell on Monday after nat-gas prices plunged by more than -25%. Antero Resources (AR) closed down more than -6%, and Range Resources (RRC) closed down more than -5%. Also, EQT Corp (EQT) and Expand Energy (EXE) closed down more than -4%, and CNX Resources (CNX) and Coterra Energy (CTRA) closed down more than -3%.
Caterpillar (CAT) closed up more than +5 to lead industrial stocks higher, and gainers in the Dow Jones Industrials after Monday’s news showed US manufacturing activity expanded at the strongest pace in more than 3.25 years.
Teradyne Inc (TER) closed up more than +4% after Alethia Capital Limited initiated coverage on the stock with a recommendation of buy and a price target of $400.
Autodesk (ADSK) closed up more than +1% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $319.
Walt Disney (DIS) closed down by more than -7% to lead losers in the Dow Jones Industrials after several analysts said the company’s quarterly outlook for Q2 was disappointing.
IDEXX Laboratories (IDXX) closed down more than -4% after reporting Q4 gross margin of 60.3%, below the consensus of 61%.
Humana (HUM) closed down more than -4% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $174.
Tesla (TSLA) closed down -2% on signs that weak European car sales are continuing after French Jan Tesla sales fell -42% y/y and Norway Jan Tesla sales fell -88% y/y.
Earnings Reports(2/3/2026)
Advanced Micro Devices Inc (AMD), Amcor PLC (AMCR), AMETEK Inc (AME), Amgen Inc (AMGN), Archer-Daniels-Midland Co (ADM), Atmos Energy Corp (ATO), Ball Corp (BALL), Broadridge Financial Solutions (BR), Chipotle Mexican Grill Inc (CMG), Chubb Ltd (CB), Clorox Co/The (CLX), Corteva Inc (CTVA), Eaton Corp PLC (ETN), Electronic Arts Inc (EA), Emerson Electric Co (EMR), Gartner Inc (IT), Hubbell Inc (HUBB), Illinois Tool Works Inc (ITW), Jack Henry & Associates Inc (JKHY), Jacobs Solutions Inc (J), Marathon Petroleum Corp (MPC), Match Group Inc (MTCH), Merck & Co Inc (MRK), Mondelez International Inc (MDLZ), PayPal Holdings Inc (PYPL), Pentair PLC (PNR), PepsiCo Inc (PEP), Pfizer Inc (PFE), Prudential Financial Inc (PRU), Skyworks Solutions Inc (SWKS), Super Micro Computer Inc (SMCI), Take-Two Interactive Software (TTWO), TransDigm Group Inc (TDG), Veralto Corp (VLTO), Willis Towers Watson PLC (WTW), WW Grainger Inc (GWW).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Climb as Solid US Manufacturing News Bolsters Economic Optimism

The S&P 500 Index ($SPX) (SPY) today is up +0.39%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.84%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.64%. March E-mini S&P futures (ESH26) are up +0.38%, and March E-mini Nasdaq futures (NQH26) are up +0.61%.
Stock indexes are moving higher today as chip makers and AI-infrastructure stocks rebound from last Friday’s losses to lift the broader market higher. Also, US rare-earth stocks are climbing today as President Trump is set to launch a strategic stockpile of critical minerals with $12 billion in seed money to lower reliance on China. Stock indexes added to their gains today on signs of strength in the US economy, which are positive for corporate earnings, after the Jan ISM manufacturing index expanded by the most in more than 3.25 years.
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The partial US government shutdown, now in its third day, has dampened investor sentiment as markets await the House's approval of a funding deal President Trump worked out with Democrats. The funding lapse may be short-lived, however, with the House returning from a week-long break today and possibly voting on the spending bill later today or tomorrow.
Energy producers are under pressure today, with WTI crude oil sinking by more than 4% as geopolitical risks ease after President Trump said the US is talking to Iran, and Iran’s foreign ministry said it hopes diplomatic efforts will avert a war.
Cryptocurrency stocks are retreating today with Bitcoin (^BTCUSD) down more than -6% to a 9.75-month low. According to Coinglass, nearly $590 million in long Bitcoin positions were liquidated over the weekend.
Signs of weakness in China’s economy are bearish for global growth prospects and stocks. The Shanghai Composite Stock Index fell more than -2% today to a 4-week low after the China Jan manufacturing PMI unexpectedly fell -0.8 to 49.3, weaker than expectations of no change at 50.1. Also, the Jan non-manufacturing PMI unexpectedly fell -0.8 to 49.4, weaker than expectations of an increase to 50.3 and the steepest pace of contraction in three years.
The markets this week will focus on tariff news, earnings, and economic news. On Tuesday, the Dec JOLTS job openings are expected to increase by +104,000 to 7.250 million. On Wednesday, the Jan ADP employment change is expected to increase by +45,000. Also, the Jan ISM services index is expected to fall by -0.3 to 53.5. On Thursday, initial weekly unemployment claims are expected to increase by 3,000 to 212,000. On Friday, Jan nonfarm payrolls are expected to climb by +65,000 and the Jan unemployment rate is expected to remain unchanged at 4.4%. Also, Jan average hourly earnings are expected up +0.3% m/m and +3.6% y/y. Finally, the University of Michigan Jan consumer sentiment index is expected to fall -1.5 to 54.9.
Q4 earnings season is in full swing, with 150 of the S&P 500 companies scheduled to report earnings this week. Earnings have been a positive factor for stocks, with 78% of the 167 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, the tenth consecutive quarter of positive year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting an 11% chance for a -25 bp rate cut at the next policy meeting on March 17-18.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up by +1.12%. China’s Shanghai Composite fell to a 4-week low and closed down -2.48%. Japan’s Nikkei Stock 225 fell from a 2.5-week high and closed down -1.25%.
Interest Rates
March 10-year T-notes (ZNH6) today are down by -8 ticks. The 10-year T-note yield is up +3.8 bp to 4.273%. T-notes gave up an early advance and turned lower today, and the 10-year T-note yield rose to a 1.5-week high of 4.281% after the Jan ISM manufacturing index expanded by the most in more than 3.25 years, dampening expectations of further Fed rate cuts. Also, strength in stocks today has reduced safe-haven demand for T-notes.
T-notes also have some negative carryover from last Friday when President Trump nominated Keven Warsh as the next Fed Chair. Mr. Warsh is seen as more hawkish than other Fed Chair candidates and often emphasized inflation risks during his tenure as a Fed Governor from 2006-2011.
European government bond yields are mixed today. The 10-year German bund yield is up +2.6 bp to 2.869%. The 10-year UK gilt yield is down -0.8 bp to 4.513%.
The Eurozone Jan S&P manufacturing PMI was revised upward by +0.1 to 49.5 from the previously reported 49.4.
German Dec retail sales rose +0.1% m/m, right on expectations, and Nov retail sales were revised upward by +0.1 to -0.5% m/m from the previously reported -0.6% m/m.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Chip makers and AI infrastructure stocks are rebounding today, lifting the overall market. Sandisk (SNDK) is up more than +14% to lead gainers in the S&P 500 after CTBC Securities Investment Service Co Ltd initiated coverage on the stock with a buy recommendation and a price target of $660. Also, Seagate Technology Holdings Plc (STX), Western Digital (WDC), Micron Technology (MU), Advanced Micro Devices (AMD), and Intel (INTC) are up more than +4%. In addition, Lam Research (LRCX) is up more than +3%, and Microchip Technology (MCHP), NXP Semiconductors NV (NXPI), and Texas Instruments (TXN) are up more than +2%.
US rare-earth stocks are climbing today as President Trump is set to launch a strategic stockpile of critical minerals with $12 billion in seed money to lower reliance on China. As a result, USA Rare Earth (USAR) is up more than +12%, and United States Antimony Corp (UAMY) is up more than +6%. Also, MP Materials (MP) and Critical Metals Corp (CRML) are up more than +4%.
Energy producers and energy service companies are retreating today, with WTI crude oil down by more than -4%. ConocoPhillips (COP), Diamondback Energy (FANG), Occidental Petroleum (OXY), APA Corp (APA), and Chevron (CVX) are down more than -2%. Also, Exxon Mobil (XOM), Halliburton (HAL), Phillips 66 (PSX), and Valero Energy (VLO) are down more than -1%.
Cryptocurrency-exposed stocks are selling off today, with Bitcoin plunging more than -7% to a 9.75-month low. Galaxy Digital Holdings (GLXY) is down more than -4%, and Strategy (MSTR), MARA Holdings (MARA), and Coinbase (COIN) are down more than -2%. Also, Riot Platforms (RIOT) is down more than -1%.
Teradyne Inc (TER) is up more than +5% after Alethia Capital Limited initiated coverage on the stock with a recommendation of buy and a price target of $400.
Palantir Technologies (PLTR) is up more than +3% after William Blair upgraded the stock to outperform from market perform.
Oracle (ORCL) is up more than +3% after stating it plans to raise $45 billion to $50 billion this year through a combination of debt and equity sales to build additional cloud infrastructure capacity.
Autodesk (ADSK) is up more than +3% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $319.
Southwest Airlines (LUV) is up more than +1% after Raymond James raised its price target on the stock to $55 from $49.
Walt Disney (DIS) is down more than -4% to lead losers in the Dow Jones Industrials after several analysts said the company’s quarterly outlook for Q2 was disappointing.
IDEXX Laboratories (IDXX) is down more than -4% after reporting Q4 gross margin of 60.3%, below the consensus of 61%.
Humana (HUM) is down more than -2% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $174.
Tesla (TSLA) is down more than -2% on signs that weak European car sales are continuing after French Jan Tesla sales fell -42% y/y and Norway Jan Tesla sales fell -88% y/y.
Earnings Reports(2/2/2026)
Aptiv PLC (APTV), DaVita Inc (DVA), Healthpeak Properties Inc (DOC), IDEXX Laboratories Inc (IDXX), NXP Semiconductors NV (NXPI), Palantir Technologies Inc (PLTR), Revvity Inc (RVTY), Simon Property Group Inc (SPG), Teradyne Inc (TER), Tyson Foods Inc (TSN), Walt Disney Co/The (DIS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Gain on US Manufacturing Strength

The S&P 500 Index ($SPX) (SPY) today is up +0.25%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.57%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.42%. March E-mini S&P futures (ESH26) are up +0.20%, and March E-mini Nasdaq futures (NQH26) are up +0.34%.
Stock indexes are moving higher today as chip makers and AI-infrastructure stocks rebound from last Friday’s losses to lift the broader market higher. Also, US rare-earth stocks are climbing today as President Trump is set to launch a strategic stockpile of critical minerals with $12 billion in seed money to lower reliance on China.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
The partial shutdown of the US government for a third day today has dampened investor sentiment as markets await the House's approval of a funding deal President Trump worked out with Democrats. The funding lapse may be short-lived, however, with the House returning from a week-long break today and possibly voting on the spending bill later today or tomorrow.
Energy producers are under pressure today, with WTI crude oil sinking by more than 4% as geopolitical risks ease after President Trump said the US is talking to Iran, and Iran’s foreign ministry said it hopes diplomatic efforts will avert a war.
Cryptocurrency stocks are retreating today with Bitcoin (^BTCUSD) down more than -7% to a 9.75-month low. According to Coinglass, nearly $590 million in long Bitcoin positions were liquidated over the weekend.
Signs of weakness in China’s economy are bearish for global growth prospects and stocks. The Shanghai Composite Stock Index fell more than -2% today to a 4-week low after the China Jan manufacturing PMI unexpectedly fell -0.8 to 49.3, weaker than expectations of no change at 50.1. Also, the Jan non-manufacturing PMI unexpectedly fell -0.8 to 49.4, weaker than expectations of an increase to 50.3 and the steepest pace of contraction in three years.
The markets this week will focus on tariff news, earnings, and economic news. Later today, the Jan ISM manufacturing index is expected to climb by +0.6 to 48.5. On Tuesday, the Dec JOLTS job openings are expected to increase by +104,000 to 7.250 million. On Wednesday, the Jan ADP employment change is expected to increase by +45,000. Also, the Jan ISM services index is expected to fall by -0.3 to 53.5. On Thursday, weekly initial unemployment claims are expected to increase by +3,000 to 212,000. On Friday, Jan nonfarm payrolls are expected to climb by +65,000 and the Jan unemployment rate is expected to remain unchanged at 4.4%. Also, Jan average hourly earnings are expected up +0.3% m/m and +3.6% y/y. Finally, the University of Michigan Jan consumer sentiment index is expected to fall -1.5 to 54.9.
Q4 earnings season is in full swing, with 150 of the S&P 500 companies scheduled to report earnings this week. Earnings have been a positive factor for stocks, with 78% of the 167 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 13% chance for a -25 bp rate cut at the next policy meeting on March 17-18.
Overseas stock markets are mixed today. The Euro Stoxx 50 is up by +0.35%. China’s Shanghai Composite fell to a 4-week low and closed down -2.48%. Japan’s Nikkei Stock 225 fell from a 2.5-week high and closed down -1.25%.
Interest Rates
March 10-year T-notes (ZNH6) today are down by -2 ticks. The 10-year T-note yield is up +1.2 bp to 4.248%. T-notes are slightly lower today on negative carryover from last Friday when President Trump nominated Keven Warsh as the next Fed Chair. Mr. Warsh is seen as more hawkish than other Fed Chair candidates and often emphasized inflation risks during his tenure as a Fed Governor from 2006-2011. Losses in T-notes are limited as today’s -4% plunge in crude oil prices has weakened inflation expectations and is bullish for T-notes.
European government bond yields are mixed today. The 10-year German bund yield is up +0.7 bp to 2.850%. The 10-year UK gilt yield is down -2.4 bp to 4.498%.
The Eurozone Jan S&P manufacturing PMI was revised upward by +0.1 to 49.5 from the previously reported 49.4.
German Dec retail sales rose +0.1% m/m, right on expectations, and Nov retail sales were revised upward by +0.1 to -0.5% m/m from the previously reported -0.6% m/m.
Swaps are discounting a 1% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Chip makers and AI infrastructure stocks are rebounding today, lifting the overall market. Sandisk (SNDK) is up more than +7% to lead gainers in the S&P 500 after CTBC Securities Investment Service Co Ltd initiated coverage on the stock with a buy recommendation and a price target of $660. Also, Western Digital (WDC), Seagate Technology Holdings Plc (STX), and Advanced Micro Devices (AMD) are up more th +3%. In addition, Intel (INTC) and Lam Research (LRCX) are up more than +2%.
US rare-earth stocks are climbing today as President Trump is set to launch a strategic stockpile of critical minerals with $12 billion in seed money to lower reliance on China. As a result, USA Rare Earth (USAR) is up more than +9%, and United States Antimony Corp (UAMY) is up more than +8%. Also, MP Materials (MP) and Critical Metals Corp (CRML) are up more than +4%. In addition, Ramaco Resources (METC) is up more than +1%.
Energy producers and energy service companies are retreating today with WTI crude oil down more than -5%. ConocoPhillips (COP), Diamondback Energy (FANG), Occidental Petroleum (OXY), APA Corp (APA), and Chevron (CVX) are down more than -2%. Also, Exxon Mobil (XOM), Halliburton (HAL), Phillips 66 (PSX), and Valero Energy (VLO) are down more than -1%.
Cryptocurrency-exposed stocks are selling off today, with Bitcoin plunging more than -7% to a 9.75-month low. Strategy (MSTR), MARA Holdings (MARA), and Galaxy Digital Holdings (GLXY) are down more than -3%. Also, Coinbase (COIN) is down more than -2%. Riot Platforms (RIOT) is bucking the trend and is up +0.39%.
Palantir Technologies (PLTR) is up more than +3% after William Blair upgraded the stock to outperform from market perform.
Oracle (ORCL) is up more than +3% after stating it plans to raise $45 billion to $50 billion this year through a combination of debt and equity sales to build additional cloud infrastructure capacity.
Autodesk (ADSK) is up more than +2% after JPMorgan Chase upgraded the stock to overweight from neutral with a price target of $319.
Walt Disney (DIS) is down more than -6% to lead losers in the Dow Jones Industrials after several analysts said the company’s quarterly outlook for Q2 was disappointing.
IDEXX Laboratories (IDXX) is down more than -3% after reporting Q4 gross margin of 60.3%, below the consensus of 61%.
Humana (HUM) is down more than -2% after Morgan Stanley downgraded the stock to underweight from equal weight with a price target of $174.
Earnings Reports(2/2/2026)
Aptiv PLC (APTV), DaVita Inc (DVA), Healthpeak Properties Inc (DOC), IDEXX Laboratories Inc (IDXX), NXP Semiconductors NV (NXPI), Palantir Technologies Inc (PLTR), Revvity Inc (RVTY), Simon Property Group Inc (SPG), Teradyne Inc (TER), Tyson Foods Inc (TSN), Walt Disney Co/The (DIS).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stock Indexes Climb as Chip Makers and AI Infrastructure Stocks Rebound

Key Points
Warren Buffett is widely considered one of, if not the, greatest investors of all time.
During Buffett's final few years, Berkshire Hathaway was very conservative.
However, the conglomerate piled into one sector, in particular, which is now starting to move.
Warren Buffett may no longer be the chief executive officer of Berkshire Hathaway, but the legendary investor isn't soon to be forgotten, considering his six decades at the helm of the company and all the wonderful lessons he taught people day in and day out. Additionally, many of Buffett's investments and decisions at Berkshire are likely to endure for many decades, given Berkshire's philosophy of finding stocks it can hold forever.
Before retiring, Buffett and the Berkshire team plowed at least $58 billion into one sector, which is now starting to play out. Let's take a look.
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Buffett and Berkshire bought the dip in oil
Since the pandemic, Berkshire has plowed into oil and gas in several ways. The company has purchased large stakes in stocks in the sector and beefed up Berkshire Hathaway Energy through several acquisitions, as noted below:
Berkshire built its position in Chevron (NYSE: CVX) to nearly $21 billion, as of this writing. It's the fifth-largest position in Berkshire's equities portfolio, representing a roughly 6% stake in the company.
Berkshire built its position in Occidental Petroleum (NYSE: OXY) to nearly $12 billion, as of this writing. It's the sixth-largest position in Berkshire's equities portfolio, representing a roughly 27% stake in the company.
In 2020, Berkshire Hathaway acquired the natural gas and storage assets of Dominion Energy in a deal that totaled nearly $10 billion when you factor in the assumption of debt.
In July 2023, Berkshire Hathaway Energy spent $3.3 billion to buy a 50% stake in the Cove Point liquefied natural gas facility that was owned by Dominion Energy.
In October 2024, Berkshire Hathaway paid nearly $2.4 billion to acquire the remaining 8% of Berkshire Hathaway Energy it didn't already own.
In 2025, Berkshire acquired Occidental Petroleum's petrochemical division, OxyChem, for about $9.7 billion in cash. The unit manufactures water treatment, healthcare, and other commercial chemicals.
All these investments total about $58 billion, though the Chevron and Occidental stakes can obviously change in value quickly. These moves are significant, considering Berkshire has not been a big buyer of stocks in recent years and has conducted very few share repurchases, instead opting to build a mountain of cash.
Berkshire is clearly very bullish on oil and energy assets, even as oil has not been a good investment in recent years.
The long thesis on oil
While hardly anyone will truly understand how Buffett and his team view markets, these moves indicate that Berkshire believes oil and gas are here to stay. Many have been bearish on fossil fuels, given global warming and the ensuing shift to renewable energy. But after a tough year for oil, crude futures have risen by more 14% this year, as of this writing.
This is mainly due to geopolitical issues such as President Donald Trump's stunning removal of Venezuelan President Nicolás Maduro and tensions with Iran, as well as a huge winter storm that slammed the U.S. and resulted in oil production shortages.
However, shifting to renewable energy sources, which is clearly not a priority under Trump's administration, could take time. Furthermore, given the surge in artificial intelligence, which is incredibly data-intensive, it appears the world will need all the energy it can get its hands on, whether from renewable energy sources, fossil fuels, or newer emerging power sources such as nuclear and hydro.
According to a 2023 report from the U.S. Energy Information Administration's (EIA) International Energy Outlook, there was enough crude oil, liquid hydrocarbons, and biofuels to meet the global demand for liquid fuel through 2050. The report also notes that there is "substantial uncertainty" about future demand and supply for liquid fuels. Furthermore, EIA also said global reserves will probably increase as new technologies emerge.
Still, 2050 isn't that far away, and oil is a finite resource that could serve as a unique portfolio diversifier, especially as investors worry about a weak U.S. dollar. Berkshire seems to have spotted this trend early and bulked up in the sector.
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Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Berkshire Hathaway and Chevron. The Motley Fool recommends Occidental Petroleum. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Before Retiring, Warren Buffett Made a $58 Billion-Plus Bet on One Sector. Now, That Investment Is Starting to Work.

The S&P 500 Index ($SPX) (SPY) today is down -1.02%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.30%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -1.69%. March E-mini S&P futures (ESH26) are down -1.10%, and March E-mini Nasdaq futures (NQH26) are down -1.79%.
Stock indexes are sharply lower today, with the S&P 500 and Dow Jones Industrial Average falling to 1-week lows. AI spending worries are weighing on stocks today, with Microsoft sinking more than -12% after reporting underwhelming growth in its cloud business and higher-than-expected expenses. The rout in Microsoft is undercutting the Magnificent Seven technology stocks, sans Meta Platforms, and is weighing on the broader market.
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Meta Platforms is up by more than 7% today and is a positive factor for the market after providing a revenue outlook that was much stronger than expected. Also, International Business Machines is up more than +5% after reporting Q4 results that beat expectations.
WTI crude oil (CLH26) prices are up more than +3% to a 4.25-month high today to lift energy producers after President Trump on Wednesday said that he wants Iran to come to the table and negotiate a nuclear deal that is “a fair and equitable deal with No Nuclear Weapons.” He warned Iran that time is running out to make a deal with the US, noting that a fleet of US warships entering the region is ready to complete their mission “with speed and violence.”
US weekly initial unemployment claims fell -1,000 to 209,000, showing a slightly weaker labor market than expectations of 205,000. However, continuing claims fell -38,000 to a 6-month low of 1.827 million, showing a stronger labor market than expectations of 1.850 million.
The US Nov trade deficit was -$56.8 billion, wider than expectations of -$44.0 billion and the largest deficit in 4 months.
US Nov factory orders rose +2.7% m/m, stronger than expectations of +1.6% m/m and the largest increase in 6 months.
Threats to stocks and the dollar remain. President Trump has threatened new 100% tariffs on US imports from Canada, the possibility of a US government shutdown over ICE funding, and lingering concerns about Greenland. In addition, there is the risk of another partial government shutdown. Senate Democrats threatened to block a government funding deal over Department of Homeland Security/ICE funding after the ICE shooting of an ICU nurse in Minnesota on Saturday. There could be a partial government shutdown when the current stopgap funding measure expires this Friday.
The market’s focus this week will be on new tariff news and the prospects for a continued resolution (CR) to fund the government. On Friday, Dec PPI final demand is expected to ease to +2.8% y/y from +3.0% y/y in Nov, and Dec PPI ex-food and energy is expected to ease to +2.9% y/y from +3.0% y/y in Nov. Also, the Jan MNI Chicago PMI is expected to climb by +0.8 to 43.5.
Q4 earnings season is in full swing, with 102 of the S&P 500 companies scheduled to report earnings this week. Apple reports after the close today. Earnings have been a positive factor for stocks, with 81% of the 106 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.6% in Q4. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 14% chance for a -25 bp rate cut at the next policy meeting on March 17-18.
Overseas stock markets are mixed today. The Euro Stoxx 50 fell to a 1-week low and is down by -0.68%. China’s Shanghai Composite climbed to a 2-week high and closed up +0.16%. Japan’s Nikkei Stock 225 closed up +0.03%.
Interest Rates
March 10-year T-notes (ZNH6) today are up by +5 ticks. The 10-year T-note yield is down -0.6 bp to 4.237%. T-note prices recovered from early losses today and turned higher after a slump in stocks boosted some safe-haven demand for government debt. Also, today’s report on weekly jobless claims was higher than expected, a supportive factor for T-notes. Gains in T-notes are limited with today’s 3% jump in crude oil prices to a 4.25-month high, which boosted inflation expectations. Also, supply pressures are undercutting T-notes, as the Treasury will auction $44 billion of 7-year T-notes later today.
European government bond yields are moving lower today. The 10-year German bund yield slid to a 1.5-week low of 2.821% is down -2.9 bp to 2.828%. The 10-year UK gilt yield fell from a 2.25-month high of 4.566% and is down by -3.8 bp at 4.506%.
The Eurozone Jan economic confidence indicator rose +2.2 to a 3-year high of 99.4, stronger than expectations of 97.1.
Eurozone Dec M3 money supply rose +2.8% y/y, weaker than expectations of +3.0% y/y.
Swaps are discounting a 0% chance of a +25 bp rate hike by the ECB at its next policy meeting on February 5.
US Stock Movers
Weakness in the Magnificent Seven technology stocks, sans Meta Platforms, is weighing on the broader market. Microsoft (MSFT) is down more than -12% to lead losers in the Dow Jones Industrials on disappointment that Q2 Azure and other cloud services revenue ex-forex could not beat expectations, up +38% y/y, right on consensus. Also, Amazon.com (AMZN), Nvidia (NVDA), and Tesla (TSLA) are down more than -2%. In addition, Alphabet (GOOGL) is down more than -1%, and Apple (AAPL) is down -0.08%.
Cryptocurrency exposed socks are falling today with Bitcoin (^BTCUSD) down more than -5% at a 1.75-month low. Strategy (MSTR) is down more than -9%, and Galaxy Digital Holdings (GLXY) is down more than -7%. Also, Coinbase (COIN), MARA Holdings (MARA), and Riot Platforms (RIOT) are down more than -6%.
Energy producers and energy service providers are rallying today with WTI crude up more than +4% at a 4.25-month high. APA Corp (APA), ConocoPhillips (COP), Diamondback Energy (FANG), Marathon Petroleum (MPC), and Valero Energy (VLO) are up more than +3%. Also, Halliburton (HAL), Occidental Petroleum (OXY), Phillips 66 (PSX), and Devon Energy (DVN) are up more than +2%. In addition, Chevron (CVX) and Exxon Mobil (XOM) are up more than +1%.
Las Vegas Sands (LVS) is down more than -14% to lead losers in the S&P 500 after reporting its Q4 Macau operations adjusted property Ebitda of $608 million, weaker than the consensus of $626.1 million.
HubSpot (HUBS) is down more than -12% after BMO Capital Markets cut its price target on the stock to $385 from $465.
ServiceNow (NOW) is down more than -11% after reporting Q4 adjusted gross margin of 80.5%, weaker than the consensus of 81.2%.
Whirlpool (WHR) is down more than -7% after reporting Q4 net sales of $4.10 billion, below the consensus of $4.26 billion, and forecasting full-year ongoing EPS of about $7.00, weaker than the consensus of $7.23.
Tractor Supply Co (TSCO) is down more than -6% after reporting Q4 net sales of $3.90 billion, weaker than the consensus of $3.99 billion, and forecasting full-year comparable sales up +1% to +3%, the midpoint below the consensus of +2.96%.
Dow Inc. (DOW) is down more than -5% after reporting Q4 net sales of $9.46 billion, below the consensus of $9.50 billion.
Meta Platforms (META) is up more than +7% to lead gainers in the Nasdaq 100 after reporting Q4 revenue of $59.89 billion, better than the consensus of $58.42 billion, and forecasting Q1 revenue of $53.5 billion-$56.5 billion, well above the consensus of $51.27 billion.
International Business Machines (IBM) is up more than +6% to lead gainers in the Dow Jones Industrials after reporting Q4 revenue of $19.69 billion, stronger than the consensus of $19.21 billion.
Royal Caribbean Cruises Ltd (RCL) is up more than +15% to lead cruise stocks higher and gainers in the S&P 500 after forecasting full-year adjusted EPS of $17.70 to $18.10, stronger than the consensus of $17.67. Also, Carnival (CCL) and Norwegian Cruise Line Holdings (NCLH) are up more than +6%.
Southwest Airlines (LUV) is up more than +3% after forecasting Q1 adjusted EPS of at least 45 cents, well above the consensus of 28 cents.
Lockheed Martin (LMT) is up more than +5% after forecasting full-year EPS of $29.35 to $30.25, well above the consensus of $29.09.
C.H. Robinson Worldwide (CHRW) is up more than +2% after reporting Q4 adjusted diluted EPS of $1.23, better than the consensus of $1.13.
Earnings Reports(1/29/2026)
A O Smith Corp (AOS), Altria Group Inc (MO), Ameriprise Financial Inc (AMP), Apple Inc (AAPL), Arthur J Gallagher & Co (AJG), Blackstone Inc (BX), Caterpillar Inc (CAT), Comcast Corp (CMCSA), Deckers Outdoor Corp (DECK), Dover Corp (DOV), Dow Inc (DOW), Hartford Insurance Group Inc/The (HIG), Hologic Inc (HOLX), Honeywell International Inc (HON), International Paper Co (IP), KLA Corp (KLAC), L3Harris Technologies Inc (LHX), Lockheed Martin Corp (LMT), Marsh & McLennan Cos Inc (MRSH), Mastercard Inc (MA), Nasdaq Inc (NDAQ), Norfolk Southern Corp (NSC), Parker-Hannifin Corp (PH), PulteGroup Inc (PHM), ResMed Inc (RMD), Royal Caribbean Cruises Ltd (RCL), Sandisk Corp/DE (SNDK), Sherwin-Williams Co/The (SHW), Southwest Airlines Co (LUV), Stryker Corp (SYK), Thermo Fisher Scientific Inc (TMO), Tractor Supply Co (TSCO), Trane Technologies PLC (TT), Valero Energy Corp (VLO), Visa Inc (V), Western Digital Corp (WDC), Weyerhaeuser Co (WY).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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