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Warm Up
- Superbowl teams are set - Eagles and Kansas City
- Big week for Earnings (big boys) and Fed rate decision (Wednesday)
- People perplexed - why are multiples staying so strong with all the info at hand?
- Expectations for Friday's employment report?

Market Update
- January ends on a good note. NAZ up about 10%, DJIA +2%, Long Bond ETF +7%, Bitcoin up 39%, Gold up 5.6%
- On Above -> yields down , dollar down (exact opposite of most of 2022)
- Car Companies - charging up the EV race
- EuroZone surprise ECO
- Interesting study on stock performance after earnings

 Fed decision?
-- Odds are leaning to a 0.25% increase
- Thoughts?

Earnings Stats
- So far this earnings season, companies in the S&P 500 that MISS estimates are outperforming the S&P by 1.4%
- On the flip side, those companies that have beat expectations have slightly underperformaed the S&P 500
- Per Goldman, stocks that have missed Q4 earnings estimates thus far are outperforming the S&P 500 by 140 bps the following session, performing better than stocks beating EPS, first time this has happened with data going back to 2006
- Theories?

More Earnings
- FVCBankcorp (FVCB) came out with quarterly earnings of $0.27 per share, missing the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.45 per share a year ago. These figures are adjusted for non-recurring items.
- This quarterly report represents an earnings surprise of -43.75%. A quarter ago, it was expected that this company would post earnings of $0.47 per share when it actually produced earnings