Reuters

(Reuters)

What to Watch in the Markets

By Markets

  • 1. Wall Street

    Wall Street extended swift and steep declines from the prior session on Thursday after investors rushed to exit doors on no particular news items. The consumer discretionary and health care sectors were among the decliners on the session. Traders also kept an eye on energy shares after Brent crude dropped below $30 a barrel for the first time since 2004. Stocks on Thursday, however, shaped up for a solid start as investors seemed to find more solid footing. 

  • 2. Oil Prices

    Global oil prices were up more than 1% ahead of the market open, but still hovered around the $30 a barrel mark as worries about a global supply glut continued to weigh on sentiment. On Wednesday, Brent crude prices saw their lowest settlement value since April 2004 as it set its longest losing streak since 2014. 

  • 3. JPMorgan Chase

    The biggest U.S. bank by assets was the first of the big banks to unveil quarterly results. JPMorgan (JPM) revealed adjusted fourth-quarter earnings per share of $1.32, easily beating expectations for $1.25 a share. Meanwhile, revenue of $22.9 billion was in line with expectations for $22.89 billion. The bank said revenue from fixed-income trading saw a 3% drop. CEO Jamie Dimon said the business saw “strong loan growth and credit quality, except for some stress in energy.”  

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  • 4. GoPro

    Shares of the action-camera maker were slammed, falling 26.6% in the pre-market, after the company said late Wednesday that it looks to lay off about 7% of its workforce, and guided investors lower on its fourth-quarter results. The layoffs come as the company said it intends to “reinvest savings in its most important priorities to drive growth,” and expects to incur expenses between $5 and $10 million in 1Q. GoPro also noted it sees revenues of about $435 million in 4Q, lower than previous guidance thanks to lower sales of capture devices at retail outlets. 

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  • 5. Chipotle

    Shares of the fast-casual Mexican-food chain extended gains of more than 5% from the prior session as they jumped another 1% in the premarket after the company on Wednesday outlined a new marketing campaign designed to win back lost customers after its E.coli and norovirus outbreaks last year. For context, since late October, the company’s stock price has dropped about 37%. 

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