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U.S. stock futuresDropped Tuesday with the NasdaqThe index was down by 2% one day after an amazing market turnaround. On Monday, the Nasdaq fell as high as 4.9% before making a remarkable comeback and closing up 0.6%. But, tech-rich index, still under correction at 13.7%, was close to its November record close. The Dow — down 1,115 points, or 3.25%, at Monday’s lows — ended up 0.3%. The 30-stock averageIt was 6.6% lower than its record closing price earlier in the month. The S&P 500Also closed 0.3% higher after closing down almost 4% Monday. Briefing into correction territory was also a factor, with the close falling more than 10% from its previous record close to begin the New Year.

As the Tuesday market opened, bond yields rose as a result. Federal Reserveits meeting in January, which will last for two days. Chairman of the Fed and policy statement Jerome PowellWednesday’s news conference are expected to reflectA willingness by the central bank for them to implement the necessary steps to combat inflation. Fed officials expect to announce they will increase interest rates as soon as possible, despite a severe stock market correction. This is expected against the background of tapering off bond purchases. There will be 4 hikes this year.

PfizerAnd BioNTechTuesday launched a clinical studyEvaluate the safety and efficacy of vaccines that target the Covid-omicron variant. Kathrin Jansen (head of vaccine development at Pfizer) stated that current research has shown boosters provide good protection against serious disease and hospitalizations with omicron.

The bell rings Tuesday and four Dow stocks will release quarterly results. 3M, American Express, VerizonAnd Johnson & Johnson. J&J, which makes one of the three Covid vaccines cleared for emergency use in the U.S., slightly beat estimates with adjusted fourth-quarter earnings but missed on revenue. The adjusted earnings per share and full-year sales for 2022 were higher than expected by the American drugmaker. J&J expects its Covid vaccine to generate $3 billion to $3.5 billion in salesThe year was a success. Premarket shares fell by 1.8%

Dow stock MicrosoftAfter the bell, is expected to report quarterly earnings. IBMMonday night’s report also included a Dow component. better-than-expectedFourth quarter revenue and adjusted earnings. As the tech giant refused to give forward earnings guidance, the stock gained almost 2% Tuesday premarket. IntelAnd Apple report quarterly results Wednesday and Thursday, respectively.

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