By Barbara Kollmeyer
State Street /zigman2/quotes/209758976/composite STT +0.57% reports Monday in a week that includes Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +0.70% and Netflix /zigman2/quotes/202353025/composite NFLX -0.61% on Tuesday, Tesla /zigman2/quotes/203558040/composite TSLA +2.08% and Biogen /zigman2/quotes/201531540/composite BIIB +2.86% on Wednesday, and a bunch of others.
Speaking of Netflix, the hit South Korean show “Squid Game” is reportedly expected to rake in nearly $900 million for the streaming group.
Zillow /zigman2/quotes/204413973/composite Z +1.37% shares are tumbling, after Bloomberg reported that the real estate platform will pausing purchasing more U.S. homes to work through a property backlog.
Shares of Valneva /zigman2/quotes/226552993/composite VALN +3.64% surged 40% in Paris, after the French biotech said its COVID-19 vaccine candidate outperformed AstraZeneca’s /zigman2/quotes/200304487/composite AZN -0.37% /zigman2/quotes/203048482/delayed UK:AZN -0.78% in a late-stage 3 trial.
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Stock futures /zigman2/quotes/210407078/delayed YM00 +1.57% /zigman2/quotes/209948968/delayed ES00 +2.36% are under pressure, led by tech /zigman2/quotes/210219788/delayed NQ00 +3.17% as bond yields rise, along with oil prices /zigman2/quotes/209723049/delayed CL00 +0.79% . Natural-gas prices /zigman2/quotes/210189548/delayed NG00 +9.50% are tumbling. The dollar /zigman2/quotes/210598269/delayed DXY -0.04% is also up. Elsewhere, it was a mostly weaker day in Asia /zigman2/quotes/210598128/delayed XX:000300 -1.21% /zigman2/quotes/210597971/delayed JP:NIK +2.09% after China growth data, and European equities /zigman2/quotes/210599654/delayed XX:SXXP -1.02% are stumbling.
Last week, this column talked about TINA (there is no alternative) as rationale for stock markets to just keep moving higher.
A team of strategists at Goldman Sachs led by David Kostin predicts that a record 52% equity allocation for households, foreign investors, mutual funds and pension funds will keep rising in 2022 given “unattractive alternatives and high cash holdings.” Corporations will lead the charge, the bank said in a note.
How singer Phil Collins got mixed up in a “Remember the Alamo” battle .
Crime author Carmen Mola, who just won Spain’s €1 million ($1.2 million) literary prize, is actually three men .
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