Will The Fed favor U.S. markets?
Plus: Etsy retains positive impact and soars earnings & Beyond Meat shares go tumbling.
U.S. stock market up for a fall at open.
Why it matters: Due to the worries of the Russia/Ukraine invasion, U.S. stocks plunge further. Dow futures went -1.4% while S&P 500 lost 2.5% and Nasdaq lost 2.9%. The Fed Chief of Staff, Powell will deliver his semi-annual policy to the House on Wednesday and to the Senate on Thursday. We wait to see its outcome. (Barrons)
Etsy retains positive impact and soars earnings
Etsy (ETSY) stock soars up 6.7% to $136.70.
Why it matters: With demand for home furnishings waning and wedding-related sales ramping up to the mid-20s percentage range, the e-commerce brand has reported fourth-quarter earnings of $1.11 per share with revenue that grew 16.5%. The company expects the sales growth to be lower in the first half of 2022 compared to 2021’s and higher in the second half. (Barrons)
Beyond Meat shares go tumbling
Beyond (BYND) stock fell 11% and reported fourth-quarter net loss of $80.37 million
Why it matters: This is the second consecutive quarter that Beyond is having losses. The company said its results were low as a result of some factors like Covid-19 delta variant, distribution issues and water damage at one of its plants. The company’s CEO, Ethan Brown said the company expects to substantially moderate the growth of its operating expenses this year. (CNBC)
That’s it from us,
See you tomorrow.