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Top Stock Market News For Today January 27, 2022

Apple, Mastercard, and Visa are set to host their latest earnings calls in the stock market today.
The post Top Stock Market News For Today January 27, 2022 appeared first on Stock Market News, Quotes, Charts and Financial Information | StockMarket.c…



Stock Market Futures Mixed Following Federal Reserve Policy Update

Stock market futures are mixed during today’s early morning trading. This is likely as investors digest the latest statements from the Federal Open Market Committee (FOMC). Now, among the key takeaways from the FOMC meeting would be its decision to hold interest rates at near-zero for now. Even so, there remains a focus on withdrawing pandemic-era policies amidst rising inflation. This is evident from the following statement from the Fed. “With inflation well above 2% and a strong labor market, the Committee expects it will soon be appropriate to raise the target range for the federal funds rate.

Now, the current move by the Federal Reserve is not all that surprising. This is because policymakers have and continue to reiterate that ending the central banks’ asset purchase program is their first priority. On this front, the FOMC affirms that it will likely complete the process by early March. By extension, we could see the first interest rate hike within the next two months. For one thing, increasing interest rates would help to address the current issue with inflation. This would primarily raise borrowing costs and reduce demand for goods in general.

For today, investors could be closely watching how these updates weigh in on earnings in Big Tech in the stock market today. As of 7:24 a.m. ET, the Dow & S&P 500 are declining by 0.26%, and 0.09%, while Nasdaq futures are trading higher by 0.15%.

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Apple Earnings On Tap After Closing Bell Today; Reportedly Making Bold Push Into Fintech

Apple (NASDAQ: AAPL) is the next FAANG member reporting quarterly earnings figures today. With the consumer tech titan coming under the microscope today, investors will likely be tuning in to AAPL stock today. Accordingly, Wall Street is currently expecting Apple to report an earnings per share of $1.88 on revenue of $118.7 billion. Now, to begin with, these figures are commendable even after accounting for the company’s massive operations. However, after a solid two years of strong iPhone sales amidst the pandemic, things appear to be normalizing for Apple. According to a statement to its component suppliers, the demand for iPhone 13’s is weakening. Because of this, the focus could be on Apple’s iPhone revenue this quarter.

Aside from its earnings, Apple does not seem to be slowing down in the least bit on the operational front. According to sources from Bloomberg, the company is planning to test out new fintech services. This would see small businesses being able to accept digital payments directly from iPhones. In other words, Apple could be looking to turn iPhones into payment terminals. More importantly, the report suggests that all this will be done without additional hardware through near-field communication (NFC) tech.

Should all this be the case, Apple would be stepping up to the plate against firms like Block (NYSE: SQ). Regardless of how you look at it, Apple seems to be having an exciting week. With that in mind, investors may want to consider taking a closer look at AAPL stock now.

AAPL premarket
Source: TD Ameritrade TOS

Tesla Posts Strong Earnings And Reveals Plans To Rev Up Autonomous Vehicle Tech And Production Efforts

Elsewhere, Tesla (NASDAQ: TSLA) reported positive numbers in its fourth-quarter earnings yesterday. After the closing bell, the company reported earnings of $2.52 on record quarterly revenue of $17.72 billion. Notably, this would be well above estimates of $2.36 and $16.57 billion respectively. In detail, the electric vehicle (EV) goliath saw its total revenue soar by 65% year-over-year. Over the same period, its automotive revenue is currently looking at sizable gains of 71%. Also, Tesla’s net income is up by a whopping 760%, totaling $2.32 billion.

Despite all of this, TSLA stock ended the post-market trading hours in the red. For the most part, this would be due to CEO Elon Musk’s latest update on Tesla’s operation. According to Musk, the EV firm will likely remain “chip-limited” this year and lack any new models in 2022. Furthermore, he also notes that Tesla’s factories have been and still are running below capacity. The reason for this is supply chain issues becoming a “main limiting factor,” in Musk’s words.

While all this may appear to be negative, the company has also been holding its ground. Throughout 2021, Tesla hit record production figures and is looking to expand beyond its 600,000 units per year manufacturing capacity. After considering all of this data, investors looking for long-term buys could be eyeing TSLA stock.

TSLA stock chart
Source: TD Ameritrade TOS

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Intel Reports Solid Earnings Beats And Provides Optimistic Guidance

Similar to Tesla, Intel (NASDAQ: INTC) also posted better-than-expected figures in its latest earnings report. Diving in, the semiconductor maker raked in a total revenue of $19.5 billion for the quarter. This would exceed consensus forecasts of $18.31 billion. Moreover, Intel recorded an earnings per share of $1.09, beating expectations of $0.91. If that wasn’t enough, the company’s Client Computing Group, its largest division, raked in a revenue of $10.1 billion. To put things into perspective, this is against estimates of $9.6 billion and marks a 7% year-over-year dip.

Commenting on the company’s overall performance is CEO Pat Gelsinger. He says, “Q4 represented a great finish to a great year. We exceeded top-line quarterly guidance by over $1 billion and delivered the best quarterly and full-year revenue in the company’s history.” Adding to that, Gelsinger highlights, “Our disciplined focus on execution across technology development, manufacturing, and our traditional and emerging businesses is reflected in our results. We remain committed to driving long-term, sustainable growth as we relentlessly execute our IDM 2.0 strategy.

Additionally, Gelsinger also talked about the company’s next-generation server chip, Sapphire Rapids. According to the CEO, Sapphire Rapids is set to begin shipping this quarter with plans for production boosts in Q2. All in all, it seems like Intel is kicking into high gear across the board. Because of that, INTC stock could be in focus in the stock market now.

INTC Stock chart
Source: TD Ameritrade TOS

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Notable Earnings To Know In The Stock Market Today

Not to mention, there are plenty of massive companies reporting their earnings today as well. This ranges from some of the biggest names in consumer tech to industrial giants, and consumer staples. In the pre-market hours, we have Mastercard (NYSE: MA), Nucor (NYSE: NUE), McDonald’s (NYSE: MCD), and Altria (NYSE: MO) on tap. Also, two key airline operators, JetBlue (NASDAQ: JBLU) and Southwest (NYSE: LUV) fall in this group as well.

Alternatively, for those looking towards earnings after the closing bell, there is a strong focus on tech. Aside from Apple, Robinhood (NASDAQ: HOOD), Visa (NYSE: V), Western Digital (NASDAQ: WDC), and Atlassian (NASDAQ: TEAM) are reporting earnings. Between major tech earnings and FOMC policy updates, investors have plenty to consider in the stock market now.

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New Home Sales increase to 759,000 Annual Rate in September

The Census Bureau reports New Home Sales in September were at a seasonally adjusted annual rate (SAAR) of 759 thousand.

The previous three months were revised down slightly, combined.

Sales of new single‐family houses in September 2023 were at a seas…



The Census Bureau reports New Home Sales in September were at a seasonally adjusted annual rate (SAAR) of 759 thousand. The previous three months were revised down slightly, combined.
Sales of new single‐family houses in September 2023 were at a seasonally adjusted annual rate of 759,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.3 percent above the revised August rate of 676,000 and is 33.9 percent above the September 2022 estimate of 567,000. emphasis added
New Home SalesClick on graph for larger image. The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate. New home sales are above pre-pandemic levels. The second graph shows New Home Months of Supply. New Home Sales, Months of SupplyThe months of supply decreased in September to 6.9 months from 7.7 months in August. The all-time record high was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020. This is above the top of the normal range (about 4 to 6 months of supply is normal).
"The seasonally‐adjusted estimate of new houses for sale at the end of September was 435,000. This represents a supply of 6.9 months at the current sales rate."
Sales were well above expectations of 679 thousand SAAR, and sales for the three previous months were only revised down slightly, combined. I'll have more later today.

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Biogen reports positive signs from early study of tau-lowering drug

An experimental genetic medicine designed to short-circuit the production of the Alzheimer’s-linked protein tau showed signs of slowing cognitive decline…



An experimental genetic medicine designed to short-circuit the production of the Alzheimer’s-linked protein tau showed signs of slowing cognitive decline in a small study from Biogen.

The company has previously demonstrated that the drug, an antisense oligonucleotide dubbed BIIB080, reduced levels of tau in the brain. The new results, presented Wednesday morning at the Clinical Trials on Alzheimer’s Disease conference in Boston, suggest that the 16 people who got a high dose of the drug in the 46-person study progressed more slowly than otherwise expected after two years.

Priya Singhal

“These are early data,” Priya Singhal, Biogen’s head of development, told Endpoints News in an interview ahead of the presentation. “But we believe the signal is really important. And despite the limitations, we believe it’s real.”

The results are encouraging enough to spur Biogen to go all in on a large Phase II study that will enroll over 700 people, testing three doses of the drug, which is injected directly into the spinal fluid every three or six months. “It should give us a very good read,” Singhal said.

Tau builds up in the brain and damages neurons after the more famous amyloid protein accumulates. Biogen has previously tried to target tau in a Phase II study of its antibody gosuranemab. But unlike BIIB080, the antibody failed to lower tau levels, as measured by brain scans. It also didn’t slow cognitive decline.

Biogen’s head of neurodegenerative diseases research, Dominic Walsh, told Endpoints that the new drug is different because it “cuts tau off at its source” by blocking its mRNA code and preventing it from being made. Antibodies, in contrast, can only remove tau that already exists and may struggle to reach the molecule inside brain cells.

Dominic Walsh

Tau takes many forms and shapes, and there’s much debate about which ones are the most toxic and, thus, most important to remove. While antibody drugs are designed for certain kinds of tau, an antisense drug is agnostic, Walsh said. “You take all the guesswork out of it,” he added. “It turns down all of tau production.”

The 16 people who got a high dose of BIIB080 during the long-term extension of the study trended toward having slower declines on three tests of cognitive and functional decline — the CDR-SB, the MMSE and the FAQ — compared to data from a natural history cohort and from Biogen’s gosuranemab study.

“We saw a movement that favored the drug arms across all these three domains, and that is unusual to see,” Singhal said.

That convergence of those clinical signals with the reduction of tau on brain scans “is the thing that really makes this exciting,” Walsh said.

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5,050 Bitcoin for $5 in 2009: Helsinki’s claim to crypto fame

Helsinki played host to the first Bitcoin for fiat transaction in 2009 — 5050 Bitcoin for $5 — 6 months before Pizza Day. Crypto City Guide.



Helsinki played host to the first Bitcoin for fiat transaction in 2009 — 5050 Bitcoin for $5 — 6 months before Pizza Day. Crypto City Guide.

This Crypto City guide looks at Finlands crypto culture: The most notable projects and people, its financial infrastructure, which retailers accept crypto, and where you can find blockchain education courses.

City: Helsinki
Country: Finland
Population: 1.55 million 
Established: 1550
Languages: Finnish and Swedish, with English widely spoken

Jump to: Crypto culture, Where to spend crypto in Helsinki, Crypto projects and companies, Local crypto controversies, Crypto education and community, Notable crypto figures from Helsinki

Situated on the Gulf of Finland, Helsinki is the capital of Finland and is arguably the worlds most northern metropolis, with 1.5 million people 30% of the countrys population calling the metro area home. Its inhabitants spend winter in a cold, still darkness but enjoy 11:00 pm sunsets in summertime.

Helsinki Cathedral at sunrise, after a night of partying
Helsinki Cathedral at sunrise, after a night of partying. (Elias Ahonen)

Major population centers are nearby, with both Tampere and Turku reachable in two hours via road or rail. There are regular ferry services across the Baltic including to Estonias capital of Tallinn, which can be reached in two hours by sea, and there are also plans to link the cities via an undersea tunnel. The nearby Helsinki-Vantaa airport is the countrys main international gateway and serves as a transfer hub for Asia.

Finland has been ranked the happiest country in the world for six consecutive years by the World Happiness Report. Its income tax rate tops out at 56% one of the highest in the world and the tax data of every resident is public. Helsinki played host to the 1952 Summer Olympics. The country joined the European Union in 1995 and adopted the euro as its currency in 1999. In 2023, Finland became a member of NATO.

As the capital, Helsinkis crypto events draw participants from across the country, making it the natural meeting place for the industry. For that reason, projects and companies from nearby cities like Tampere and Turku are also included here.

The area was first settled around 5000 BC as the ice age retreated. Vikings raided the established settlements, as did Swedish crusaders in the 10th and 13th centuries. The city was formally established in 1550 as a Swedish trading post, defended by Suomenlinna (Finlands fortress), the largest sea fort in Europe. Later, under Russian control as the Grand Duchy of Finland, the emperor moved the capital from Turku to Helsinki, which was closer to St. Petersburg. Finland became independent in 1917, after which it resisted Soviet occupation in the 1940 Winter War.

The Finnish Parliament
The Finnish Parliament. (Elias Ahonen)

Crypto culture

Helsinkis claim to crypto fame rests with Martti Malmi, a software developer who in 2009 sold 5,050 BTC for a $5.02 PayPal transfer, marking the first time that Bitcoin was exchanged for fiat currency. It occurred before the much better-known May 22, 2010, Pizza Day, when Bitcoin was first used to purchase a physical good. Eventually, Malmi used most of his Bitcoin to purchase a studio in the metro area. If hed hung on to it, itd be worth $171 million today. The Bitcoin was used to seed an exchange called New Liberty Standard, which established the first BTC price of 1,309.03 BTC for $1.

Malmi was, in some ways, a product of his environment, with Helsinki recognized as a bed of technical innovation since Nokia began to dominate the cellphone market. In 1991, Linus Torvalds began working on what became Linux at the University of Helsinki. It is also home to many video game companies, with local firm Rovios Angry Birds achieving global fame in 2009. Helsinki is also the home of Aave founder Stani Kulechov, though he has moved abroad with the company.

In 2019, a then-staunchly Bitcoin maximalist group called Konsensus organized the translation of Saifedean Ammous 2018 book The Bitcoin Standard into Finnish, and later also translated The Little Bitcoin Book by The Bitcoin Collective. According to one member, the organization has since become more accepting of other cryptocurrencies and blockchain use cases.

The crypto community in Helsinki and Finland is somewhat disorganized and divided, with many enthusiasts being interested in one facet be it Bitcoin, NFTs or Web3 without embracing the whole, and thus having few common threads. Still, a certain grassroots energy is evident.

Founding meeting of The Finnish Bitcoin Association in Helsinki on May 6, 2023
The founding meeting of The Finnish Bitcoin Association in Helsinki on May 6, 2023. (Elias Ahonen)

Where can I spend crypto in Helsinki?

Paying with Bitcoin is not common in Finland, where card and app payments dominate. One notable exception is the restaurant Faro, at which a few people are likely to buy a burger and beers with sats at the monthly Bitcoin meetup.

On the bar side, Taudo Baari and Time Bar also accept crypto. There is also the Osuva shooting range.

Samuel Harjunp, CEO and co-founder of hardware startup Xellox and regular at the Faro Bitcoin meetup, tells Magazine about the state of Bitcoin acceptance:

A few restaurants and bars have already been orange-pilled the biggest obstacles are the payment infrastructure and bookkeeping.

Crypto projects and companies in Helsinki

Today, Helsinki has a vibrant tech and startup scene with many coworking spaces. The city is also host to the annual Slush startup conference, which draws 25,000 participants.

Web3 Helsinki is a student-run organization that organized its first event on April 20, 2020, with about 150 people in attendance, making it perhaps the largest single crypto event of the year.

2023s events have included the Web3 Bash in late April, followed by the Aurora Nordic Web3 Conference in June. On June 6, the BRIDG3 Blockchain summit was held at Tamperes Nokia Arena, focusing on Web3, the metaverse and decentralized autonomous organizations.

The Aurora Nordic Web3 Conference, held in Helsinki on June 6, 2023
The Aurora Nordic Web3 Conference, held in Helsinki on June 6, 2023. (Elias Ahonen)

The Finnish Bitcoin Association was established on May 6, in an event attended by Magazine, with membership fees paid primarily with Bitcoin via the Lightning Network. Upon the conclusion of formalities, the saunas of the hosting coworking space were fired up.

For those interested in NFTs, Fungi is a platform advertising a no-code solution that lets organizations build NFT-based communities. One of these was a metaverse island called Cornerstone for VR studio ZOAN, where 100 plots could be purchased as NFTs.

HABBO NFT, operated by the local creators of the 23-year-old online chat room game HABBO Hotel, has dropped an 11,600-piece avatar collection on OpenSea and is currently developing an NFT-based game. A group called The Future of Art has also dedicated itself to promoting digital art and runs an NFT gallery.

The Finnish Web3 Landscape, according to Tampere-based The Good Cartel, which exists to support Finnish Web3 startups
The Finnish Web3 Landscape, according to Tampere-based The Good Cartel, which exists to support Finnish Web3 startups. (The Good Cartel)

An aspiring LinkedIn competitor, Kleoverse, is a proof-of-talent Web3 platform for recruiters and jobseekers that displays skills such as knowledge in programming languages through badges instead of text on a resume.

Phaver is building a Web3 social media app powered by Lens Protocol, which bills itself as the social layer of Web3. Phaver is one of many local projects that have worked with tech design studio STRGL, which specializes in protocol-level Web3 solutions. STRGLs managing director, Kasper Karimaa, sees Helsinki as a haven for developers:

Finlands role in blockchain innovation through its agile engineering community makes Helsinki the perfect place to assemble a skilled team in research, design and development.

One of the most widely known crypto companies in the country was the P2P exchange LocalBitcoins, which employed about 50 people before closing its doors in February 2023. CEO Nikolaus Kangas told Cointelegraph that this was due to a failure to turn our trade volumes and declining market share back to growth.

Bittiraha, which translates to bit money in Finnish, is another old local crypto company. It was founded circa 2012 and installed the countrys first Bitcoin ATM at the Helsinki railway station in December 2013.

The company was also a distributor of Casascius physical Bitcoin and eventually made its own line of Denarium wallets. The parent company, Coinmotion based a few hours north in Jyvskyl now operates a cryptocurrency exchange.

Another major Finnish exchange called Northcrypto can be found in Turku.

A euro stablecoin has also been developed in the city. Membrane Finances EUROe was launched in February 2023 and is designed to be an EU-regulated full-reserve stablecoin that is compliant with recent legislation. While this is notable considering the relatively few operational euro stablecoins, volume remains low at approximately $20,000 per day.

Helsinki native Anita Krypto Granny Kalergis spends most of her time in Dubai, where she organizes blockchain conferences. She feels that Finnish entrepreneurs and decision-makers lack bravery, preferring to wait for someone else to take the lead and for regulatory certainty both from the national and EU levels. Most activity is not advertised, with especially older business people afraid to rock the boat or make major moves, she observes.

Companies here will build something to 95% completion before opening their mouth, whereas projects in other countries will raise money and build partnerships based on a white paper while testing in production.

Helsinki is surrounded by sea and leaves room for nature
Helsinki is surrounded by the sea and leaves room for nature. (Elias Ahonen)

Helsinkis crypto controversies

In 2018, the Finnish customs service planned to auction 1,666 BTC that it had seized in a drug case, but decided not to proceed due to concerns that the virtual money would return to the hands of criminals, displaying a rather negative official view of cryptocurrency. In July 2022, the state eventually auctioned nearly 2,000 BTC for $47 million, with proceeds being donated to Ukraine. 

In December 2021, local media reported a trend of investment scams involving the faces of prominent people, including industrialist Heikki Herlin and then-Prime Minister Sanna Marin. 

Earlier in 2018, the police also made warnings regarding a trend of Bitcoin blackmail relating to bogus claims that hackers had webcam material of users visiting pornographic websites. In 2022, a Helsinki watch dealer fell victim to a common crypto scam, handing over Rolex watches worth $400,000 after mistakenly believing that he had received a Bitcoin transaction.

Cryptocurrency, often adjacent to scams in the news, has come to be viewed with a relatively high degree of suspicion across most of society. Commenting on the decision to halt the 2018 customs seizure sale, Pekka Pylkknen, head of finance at the Finnish Customs Service, highlighted concerns about money laundering, telling national broadcaster YLE that the buyers of cyber currency rarely use them for normal endeavors.

National media regularly interview outspoken cryptocurrency critic Aleksi Grym, head of fintech for the Finnish Central Bank, as an authoritative expert without seeking alternative pro-cryptocurrency views, though coverage has been improving.

As one may notice from this article, the term Web3 is preferred, presumably due to its distancing from the negative stereotypes of cryptocurrency.

Neither the countrys political establishment nor any major party or other large grouping of the population could be described outright as being pro-crypto.

One reason for this could be Finlands stable, highly functional, and high-trust society, in which most people do not see the need to disrupt or fix something with cryptocurrency. Bank transfers are free and near-instantaneous across the EU, with cash use increasingly rare. Virtually nobody is unbanked, and the most trusted institution is the police, with 95% public support. Harjunp, whose startup is working on solutions to protect private keys, explains the disconnect:

Many people dont understand Bitcoin and think its something between criminal money and a pyramid scheme.

It is also notable that the moon mentality and dreams of quick wealth found in many cryptocurrency investors are generally seen in a particularly negative light, with Malmi noting that he never set out to make money with Bitcoin, perhaps owing to Finnish culture and his idealistic mentality.

In the same vein, cryptocurrencies are seen by some as drivers of inequality in a country where large differences in wealth are often considered taboo.

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Crypto education and community

The Finnish Innovation Fund, or Sitra, has stated it as a priority to accelerate the local development of Web3 services, saying that its in Finlands interest to play an active role in ensuring that the metaverse is created in line with European values.

The fund has also worked with the Finnish National Gallery to create The Finnish Metagallery, an art gallery in the Decentraland metaverse whose building is modeled from the Finnish Pavilion as it appeared at the 1900 Paris World Fair.

Johanna Eiramo from the Finnish National Gallery presenting The Finnish Metagallery in Helsinki at Web3 Bash on April 27
Johanna Eiramo from the Finnish National Gallery presenting The Finnish Metagallery in Helsinki at Web3 Bash on April 27. (Elias Ahonen)

In the old capital of Turku, The University of Turku hosts the Critical Inquiry Into DAOs (CIDS) research group, of which the author is part.

Notable crypto figures from Helsinki

Martti Malmi, the first person to sell Bitcoin for fiat; Henri Brade, board member of Coinmotion; Aleksi Lytynoja, CEO and co-founder of Kleoverse; Niko Laamanen, founder of Konsensus.

Martin Wichmann, chairman of Konsensus; Antti Innanen, founder of Fungi; Sointu Karjalainen, founder of The Good Cartel; Juha Viitala, CEO and co-founder of Membrane Finance; Mika Timonen, founder of Habbo NFT; Olli Tianinen, CEO of Equilibrium Labs; Kasper Karimaa, managing director at STRGL; Jarmo Suoranta, CEO of TX – Tomorrow Explored.

Keir Finlow-Bates, CEO of Chainfrog; Ville Runola, CEO and founder of Northcrypto; Samuel Harjunp, CEO and co-founder of Xellox; Joonatan Lintala, CEO and co-founder of Phaver.

Cointelegraph team members often found in Helsinki: Elias Ahonen.

If you have any suggestions for additions to this guide, please contact

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