Stock indices on Tuesday
US stock indices will open lower, which could be another volatile session for investors after Monday's strong swings. Nasdaq Composite futures are down 2%, while S&P 500 and Dow Jones futures are down about 0.7%.
On Tuesday investors will try to focus on the earnings of several blue-chips, including IBM's better-than-expected quarter. Stocks are set to open with a gain of around 2%.
Johnson and Johnson earned $4.73 billion in the fourth quarter and sales rose 10% to $24.8 billion, falling short of the $25.2 billion estimate.
In other pharmaceutical news, the Food and Drug Administration is restricting the use of Regeneron and Eli Lilly's drugs to treat COVID-19 due to lack of efficacy, while Pfizer and BioNTech have announced clinical trials of their drug specifically for the omicron variant.
Verizon, American Express and 3M also report opening bids on Tuesday. You can see the Verizon report on our website in the press releases section or click here.
The Federal Reserve will also start its two-day meeting with an interest rate decision set for Wednesday and an update on what remains a solid inflation outlook.
Bitcoin continued to recover from Monday's lows.
In energy trading, US benchmark crude added 58 cents to $83.89 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international benchmark, rose 76 cents to $87.03 a barrel.
