By Dhirendra Tripathi
Investing.com — Stocks tumbled after Goldman Sachs (NYSE:GS) missed fourth quarter estimates on weak trading activity, which weighed heavily on financials as corporate earnings reports roll out.
Big tech stocks got pounded by rising yields for Treasurys. The 10-year yield was at a two-year high, crossing 1% for the first time since early 2020. The Federal Reserve is set to raise interest rates three or four times this year, possibly beginning as early as March.
Meanwhile telecom giants AT&T Inc (NYSE:T) andVerizon Communications Inc (NYSE:VZ) said they would steer clear of U.S. airports in their 5G frequency rollout on Wednesday, as airlines and regulators raised questions about whether the frequencies would interfere with aircraft.
The government started taking orders from Americans who want four free Covid-19 rapid tests to be mailed to them in the next few weeks. The move, which came a day earlier than expected, comes as the Biden administration battles the latest surge in coronavirus cases.
Here are three things that could affect markets tomorrow:
1. UnitedHealth earnings
UnitedHealth Group Incorporated (NYSE:UNH) will declare its fourth-quarter earnings Wednesday. The company is expected to clock a profit per share of $4.31 on revenue of $72.78 billion, according to analysts tracked by Investing.com.
2. Morgan Stanley earnings
Morgan Stanley (NYSE:MS) is seen booking a fourth-quarter revenue of $14.56 billion with profit per share coming in at $1.94. But like with Goldman and other Wall Street banks, analysts will be looking to see how it did in trading and what it says about the outlook.
3. P&G earnings
Procter & Gamble Company (NYSE:PG)’s quarterly revenue is estimated to be $20.34 billion and profit per share is expected to be $1.66.
-Reuters and Investing.com staff contributed to this report
UnitedHealth, Morgan Stanley, P&G Earnings: 3 Things to Watch
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