Stock Market Today
A violent rebound in scores of battered stocks Monday helped the major indexes pare their still-substantial January losses.January 2022 will still go down as a turbulent and loss-ridden month for stocks, but at least it ended on a high note.
A relatively quiet news weekend followed by little in the way of fresh economic data gave investors little to go on Monday, but the session was peppered with a host of individual relief rallies.
Most notable was the S&P 500’s seventh-largest holding, Tesla (TSLA), which popped 10.7% thanks to Credit Suisse analysts, who upgraded the stock to Outperform after it lost 20% in January.
“With the market disproportionately punishing growth stocks in the past month, we believe an attractive entry point has emerged for Tesla,” said CS analysts, adding that Tesla checks off a number of boxes: attractive growth story, disruption, decarbonization and more.
Netflix (NFLX, +11.1%), Moderna (MRNA, +6.2%), PayPal (PYPL, +5.2%) and Nvidia (NVDA, +7.2%) were among other recently beat-up stocks that closed the month with a rebound.
Sign up for Kiplinger’s FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.
The S&P 500 gained 1.9% Monday to 4,515, leaving it down 5.3% for the month. That marks the index’s worst January since 2009, and the worst month for stocks overall since March 2020. The Dow Jones Industrial Average (+1.2% to 35,131) finished January off 3.3%, and the Nasdaq Composite (+3.4% to 14,239) trimmed its full-month losses to 9.0%.
YCharts
Other news in the stock market today:
The small-cap Russell 2000 also roared back Monday, jumping 3.1% to 2,028.U.S. crude oil futures surged 1.5% to settle at $88.15 per barrel.Gold futures gained nearly 0.6% to end at $1,796.40 an ounce.Bitcoin recovered some ground over the weekend and into Monday, improving by 1.9% to $38,484.05. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.) Spotify (SPOT) jumped 13.5% after the audio streaming service over the weekend said it would start adding content advisories to podcasts that contain information about COVID-19. This comes after several musicians, including Neil Young, pulled their music from Spotify to protest podcaster Joe Rogan from spreading misinformation about COVID-19 on his show “The Joe Rogan Experience.” SPOT was also upgraded to Buy from Neutral by Citigroup analysts.Barclays analyst Benjamin Theurer issued a double uptrade on Beyond Meat (BYND, +15.2%) stock today, raising his outlook on the plant-based protein maker to Overweight from Underweight (the equivalents of Buy and Sell, respectively), saying there are “more positives than negatives” in the U.S. alternative meat product market. BYND already has several high-profile partnerships, including with drinkmaker PepsiCo (PEP) and Taco Bell parent Yum! Brands (YUM). And earlier this month, McDonald’s (MCD) said in February it will boost its test market for BYND’s plant-based burger by another 600 locations.A Weak Environment for IPOs, But …Market pundits generally predict more volatility ahead, but that doesn’t mean investors should write off 2022.
“Market corrections are a normal part of investing and may present opportunities for value-conscious investors,” say Jason Pride and Michael Reynolds, CIO of private wealth and vice president of investment strategy, respectively, at investment firm Glenmede. “Growth should continue in 2022, albeit at a slower yet still acceptable pace consistent with an ongoing expansion.”
One area of the market desperately looking for signs of normalization and stability is initial public offerings (IPOs). Last year marked a banner year for IPOs, with more than a thousand companies raising roughly $316 billion, according to financial markets platform Dealogic. However, increased volatility slowed IPOs to a crawl in the latter part of 2021, and the slowdown extended into January.
Nevertheless, once the IPO gears start moving again, investors should be able to gain access to several exciting, well-known names. Here, we outline 11 companies widely expected to launch IPOs in the year ahead.
Why This Tax Filing Season Could Be Ugly
Coronavirus and Your Money
Why This Tax Filing Season Could Be UglyNational Taxpayer Advocate Erin M. Collins warns the agency will continue to struggle with tight budgets and backlogs. Her advice: File electronically…
January 26, 2022
9 Great Growth ETFs for 2022 and Beyond
ETFs
9 Great Growth ETFs for 2022 and BeyondThese growth ETFs offer exposure to higher-risk, higher-reward stocks while lessening the risk of a single stock torpedoing your returns.
January 18, 2022
The 10 Best Closed-End Funds (CEFs) for 2022
CEFs
The 10 Best Closed-End Funds (CEFs) for 2022These high-yielding CEFs won’t just significantly boost your portfolio income. They’ll also allow you to buy their underlying stocks and bonds at a di…
January 12, 2022
Alphabet Stock: GOOGL an Analyst Favorite Ahead of Q4 Earnings
stocks
Alphabet Stock: GOOGL an Analyst Favorite Ahead of Q4 EarningsOur preview of the upcoming week’s earnings reports includes Alphabet (GOOGL), PayPal (PYPL) and Ford Motor (F).
January 31, 2022
Stock Market Today (1/28/22): Apple Lifts Stocks to Cap Wild Week
Stock Market Today
Stock Market Today (1/28/22): Apple Lifts Stocks to Cap Wild WeekApple’s raucous post-earnings rally Friday helped the major indexes secure weekly gains from a volatile five-day stretch.
January 28, 2022
Kiplinger’s Weekly Earnings Calendar
stocks
Kiplinger’s Weekly Earnings CalendarCheck out our earnings calendar for the upcoming week, as well as our previews of the more noteworthy reports.
January 28, 2022
6 Sturdy Defensive Stocks to Buy for 2022
stocks
6 Sturdy Defensive Stocks to Buy for 2022A volatile market has investors seeking safety. These top-rated defensive stocks could act as shelter from the storm.
January 28, 2022