Here’s ‘one of the most bullish signals’ ever for bitcoin that many investors may have missed

By Barbara Kollmeyer

State Street /zigman2/quotes/209758976/composite STT +1.31% reports Monday in a week that includes Johnson & Johnson /zigman2/quotes/201724570/composite JNJ +0.88% and Netflix /zigman2/quotes/202353025/composite NFLX +0.21% on Tuesday, Tesla /zigman2/quotes/203558040/composite TSLA +3.94% and Biogen /zigman2/quotes/201531540/composite BIIB +1.73% 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 +1.94% 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 -1.02% surged 40% in Paris, after the French biotech said its COVID-19 vaccine candidate outperformed AstraZeneca’s /zigman2/quotes/200304487/composite AZN -0.71% /zigman2/quotes/203048482/delayed UK:AZN -1.12% in a late-stage 3 trial.

Listen to the   Best New Ideas in Money   podcast.

The markets

Stock futures /zigman2/quotes/210407078/delayed YM00 -0.26% /zigman2/quotes/209948968/delayed ES00 -0.34% are under pressure, led by tech /zigman2/quotes/210219788/delayed NQ00 -0.53% as bond yields rise, along with oil prices /zigman2/quotes/209723049/delayed CL00 +0.19% . Natural-gas prices /zigman2/quotes/210189548/delayed NG00 +2.79% are tumbling. The dollar /zigman2/quotes/210598269/delayed DXY +0.08% is also up. Elsewhere, it was a mostly weaker day in Asia /zigman2/quotes/210598128/delayed XX:000300 -0.40% /zigman2/quotes/210597971/delayed JP:NIK +0.18% after China growth data, and European equities /zigman2/quotes/210599654/delayed XX:SXXP -0.26% are stumbling.

The chart

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.

Random reads

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 .

Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.

Want more for the day ahead? Sign up for The Barron’s Daily, a morning briefing for investors, including exclusive commentary from Barron’s and MarketWatch writers.

/zigman2/quotes/209758976/composite

Add to watchlist STT

State Street Corp.

US : U.S.: NYSE

$ 91.33

+1.18 +1.31%

Volume: 4.53M

Jan. 31, 2023 4:04p

P/E Ratio

12.71

Dividend Yield

2.76%

Market Cap

$31.46 billion

Rev. per Employee

$353,032

/zigman2/quotes/201724570/composite

Add to watchlist JNJ

Johnson & Johnson

US : U.S.: NYSE

$ 163.42

+1.42 +0.88%

Volume: 11.61M

Jan. 31, 2023 4:00p

P/E Ratio

24.25

Dividend Yield

2.77%

Market Cap

$423.55 billion

Rev. per Employee

$670,028

/zigman2/quotes/202353025/composite

Add to watchlist NFLX

Netflix Inc.

US : U.S.: Nasdaq

$ 353.86

+0.75 +0.21%

Volume: 5.66M

Jan. 31, 2023 4:00p

P/E Ratio

35.55

Dividend Yield

N/A

Market Cap

$157.26 billion

Rev. per Employee

$2.47M

/zigman2/quotes/203558040/composite

Add to watchlist TSLA

Tesla Inc.

US : U.S.: Nasdaq

$ 173.22

+6.56 +3.94%

Volume: 196.81M

Jan. 31, 2023 4:00p

P/E Ratio

53.52

Dividend Yield

N/A

Market Cap

$526.27 billion

Rev. per Employee

$637,144

/zigman2/quotes/201531540/composite

Add to watchlist BIIB

Biogen Inc.

US : U.S.: Nasdaq

$ 290.90

+4.96 +1.73%

Volume: 851,929

Jan. 31, 2023 4:00p

P/E Ratio

14.82

Dividend Yield

N/A

Market Cap

$41.18 billion

Rev. per Employee

$1.00M

/zigman2/quotes/204413973/composite

Add to watchlist Z

Zillow Group Inc. Cl C

US : U.S.: Nasdaq

$ 44.21

+0.84 +1.94%

Volume: 2.28M

Jan. 31, 2023 4:00p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$10.24 billion

Rev. per Employee

$1.20M

/zigman2/quotes/226552993/composite

Add to watchlist VALN

Valneva SE ADR

US : U.S.: Nasdaq

$ 13.40

-0.14 -1.02%

Volume: 5,606

Jan. 31, 2023 2:50p

P/E Ratio

N/A

Dividend Yield

N/A

Market Cap

$940.11 million

Rev. per Employee

N/A

/zigman2/quotes/200304487/composite

Add to watchlist AZN

AstraZeneca PLC ADR

US : U.S.: Nasdaq

$ 65.37

-0.47 -0.71%

Volume: 5.77M

Jan. 31, 2023 4:00p

P/E Ratio

100.14

Dividend Yield

2.17%

Market Cap

$205.50 billion

Rev. per Employee

$544,657

/zigman2/quotes/203048482/delayed

Add to watchlist UK:AZN

AstraZeneca PLC

UK : U.K.: London

10,590.00 p

-120.00 -1.12%

Volume: 1.46M

Jan. 31, 2023 4:35p

P/E Ratio

96.55

Dividend Yield

2.09%

Market Cap

£165.98 billion

Rev. per Employee

£426,154

/zigman2/quotes/210407078/delayed

Add to watchlist YM00

E-Mini Dow Continuous Contract

US : U.S.: CBOT

$ 34,068.00

-88.00 -0.26%

Volume: 3,771

Jan. 31, 2023 8:48p

/zigman2/quotes/209948968/delayed

Add to watchlist ES00

E-Mini S&P 500 Future Continuous Contract

US : U.S.: CME

$ 4,076.25

-13.75 -0.34%

Volume: 31,508

Jan. 31, 2023 8:49p

/zigman2/quotes/210219788/delayed

Add to watchlist NQ00

E-Mini Nasdaq 100 Index Continuous Contract

US : U.S.: CME

$ 12,087.75

-64.25 -0.53%

Volume: 13,698

Jan. 31, 2023 8:49p

/zigman2/quotes/209723049/delayed

Add to watchlist CL00

Crude Oil Continuous Contract

US : U.S.: Nymex

$ 79.02

+0.15 +0.19%

Volume: 6,921

Jan. 31, 2023 9:49p

/zigman2/quotes/210189548/delayed

Add to watchlist NG00

Natural Gas Continuous Contract

US : U.S.: Nymex

$ 2.76

+0.08 +2.79%

Volume: 2,070

Jan. 31, 2023 9:48p

/zigman2/quotes/210598269/delayed

Add to watchlist DXY

U.S. Dollar Index (DXY)

US : U.S.: ICE Futures U.S.

102.18

+0.09 +0.08%

Volume: 0.00

Jan. 31, 2023 9:49p

/zigman2/quotes/210598128/delayed

Add to watchlist XX:000300

CSI 300 Index

XX : China Securities Index

4,140.34

-16.52 -0.40%

Volume: 5.91B

Feb. 1, 2023 10:43a

/zigman2/quotes/210597971/delayed

Add to watchlist JP:NIK

NIKKEI 225 Index

JP : Nikkei

27,376.22

+49.11 +0.18%

Volume: 0.00

Feb. 1, 2023 11:30a

/zigman2/quotes/210599654/delayed

Add to watchlist XX:SXXP

STOXX Europe 600 Index

XX : STOXX

453.21

-1.19 -0.26%

Volume: 0.00

Jan. 31, 2023 11:03p