Earnings Take Centre Stage

Analyst Weekly, January 19, 2026

The week forward places earnings firmly in focus, with outcomes spanning streaming, semiconductors, healthcare, shopper staples, industrials, vitality, and UK-listed cyclicals. Traders will likely be watching not simply headline numbers, however what these experiences reveal about pricing energy, demand resilience, margins, and 2026 steering throughout sectors.

Netflix (NFLX). Focus: Promoting development, pricing energy, and consumer engagement are within the highlight greater than subscriber additions. Traders will likely be watching if Netflix’s new ad-supported tier and up to date value hikes maintain income rising ~17% YoY as anticipated, and whether or not administration guides for continued subscriber momentum. Market Response Drivers: Robust advert income traction (versus forecasts) might raise the inventory, whereas any slowdown in engagement or cautious ahead steering could weigh on sentiment.
Intel (INTC). Focus: The chipmaker’s report will likely be scrutinized for indicators of a turnaround in its PC and server companies in addition to progress in its AI and foundry initiatives. A powerful This autumn is predicted due to bettering PC demand and data-center tendencies, together with extra optimism round its foundry enterprise. Market Response Drivers: Traders will search for gross margin stabilization and upbeat 2026 steering. Any optimistic shock in chip demand (or cost-cutting advantages) might enhance shares, whereas weak outlook or additional market-share losses to rivals could stress the inventory.
Johnson & Johnson (JNJ). Focus: J&J’s efficiency in key drug franchises and medical gadgets will likely be pivotal. The corporate has been delivering mid-single-digit income development (Q3 gross sales +6.8% YoY) throughout its Revolutionary Medication and MedTech segments, so traders will deal with whether or not that momentum continued and on any updates to 2026 revenue steering. Market Response Drivers: Strong development in pharmaceutical gross sales (particularly new therapies) or expanded gadget margins, coupled with a assured outlook for 2026, might help the inventory. Conversely, any indicators of slowing demand or cautious steering would possibly mood enthusiasm within the defensive healthcare area.
Procter & Gamble (PG). Focus: The patron staples big’s report will heart on natural gross sales tendencies and revenue margins. P&G has maintained a modest full-year development outlook (FY2026 gross sales +1% to five%, with flat to +4% natural gross sales), so traders will parse This autumn for the combination of pricing vs. quantity modifications throughout its product classes. Value pressures have eased, so an uptick in gross margin is predicted. Market Response Drivers: If P&G exhibits it might maintain elevating costs with out dropping quantity, or if it indicators greater earnings steering on easing enter prices, the inventory might see a optimistic response. Nonetheless, any weak spot in shopper demand or margin compression would elevate concern for the staples sector and will weigh on the shares.
Basic Electrical (GE). Focus: Now targeted on aerospace after spinning off different models, GE’s earnings will spotlight jet engine orders, service revenues, and supply-chain standing. The report will take a look at GE Aerospace’s execution amid booming air journey demand, with consideration on whether or not provide constraints have eased and high-margin aftermarket providers proceed to develop. Market Response Drivers: A powerful quarter pushed by sturdy plane engine deliveries and upbeat 2026 steering (e.g. double-digit aerospace income development) would underscore GE’s transformation and sure bolster the inventory. Any indicators of manufacturing bottlenecks or a slower-than-expected ramp in aviation markets, then again, might give traders pause after GE’s current run-up.
Schlumberger (SLB). Focus: Outcomes will make clear international drilling exercise and vitality capex tendencies. Final 12 months, SLB beat expectations however cautioned that an “extra oil provide” was making prospects cautious, projecting flat income into 2025. This This autumn, traders will deal with worldwide mission power (SLB’s specialty) versus any North America softness, and hear for administration’s outlook on 2026 spending by oil & fuel producers. Market Response Drivers: If SLB indicators that upstream funding is about to rebound (or if it experiences better-than-feared income regardless of $59 oil), its inventory might rally, particularly given SLB’s current dividend hike and buybacks. Nonetheless, a subdued outlook (continued buyer warning or flat exercise ranges) would possibly mood the inventory and weigh on the broader vitality sector.
Burberry Group (BRBY). Focus: Burberry’s buying and selling replace will likely be eyed for the impression of its model revamp. Analysts anticipate solely low-single-digit development in key markets, ~3% in China and ~2% within the Americas, so traders will search for any upside shock from the essential Chinese language market rebound or new product strains below Burberry’s refreshed artistic route. Market Response Drivers: Assembly or beating these modest gross sales forecasts (for instance, delivering a optimistic ~2% like-for-like gross sales uptick) can be nicely obtained, probably sparking a re-rating of the inventory. Conversely, if luxurious demand in China or the US disappoints, or if administration sounds cautious on present buying and selling, it might weigh on Burberry and different luxurious names given excessive market expectations for a China-led restoration.
Rio Tinto (RIO). Focus: The mining big’s operational replace will spotlight iron ore manufacturing and Chinese language demand tendencies. Rio indicated after Q3 that it wanted a “sturdy This autumn efficiency” to hit its iron ore cargo targets, noting Chinese language infrastructure stimulus has pushed iron ore costs to yearly highs. Traders will deal with whether or not Rio met its quantity steering and on commentary about commodity demand in China and past (for iron ore, copper, and so forth.). Market Response Drivers: If Rio exhibits stable year-end output, and particularly if it strikes an optimistic tone on China’s metals urge for food, it might enhance mining shares and sign power within the international financial system. On the flip aspect, any manufacturing shortfall or cautious outlook (citing prices or weaker demand shifting into 2026) would possibly stress Rio’s inventory and the broader supplies sector.
Related British Meals (Primark). Focus: AB Meals’ replace will revolve round its Primark retail arm’s essential vacation efficiency amid a tricky shopper local weather. The corporate has already warned that Primark’s like-for-like gross sales fell ~2.7% over the 16 weeks to Jan 3, as “heavy discounting” was wanted to clear inventory, squeezing margins. Past Primark, ABF’s grocery and elements models confronted weaker US demand late in 2025. Market Response Drivers: Traders will look ahead to any enchancment in Primark’s buying and selling tendencies or stock ranges and any methods to revive European gross sales and US footfall. If ABF can reassure that the revenue hit was one-off and that measures are in place to raise Primark’s efficiency, the inventory could stabilize. Nonetheless, affirmation of continued robust buying and selling or a subdued shopper outlook might additional stress ABF shares and spill over to sentiment on UK retail friends.

What US’s Greenland Tariffs Might Imply for Markets

Trump’s menace to slap tariffs on eight European international locations over Greenland has reopened a well-recognized danger for markets: coverage unpredictability. Even when the levies by no means materialise, the message is evident: commerce offers below a second Trump presidency might not be sturdy, and headline danger is again.

Within the close to time period, this factors to greater volatility quite than a clear directional transfer. Europe is not only a significant US buying and selling companion; it is usually the biggest international holder of US monetary belongings, which limits how far escalation can go with out spilling into capital markets.

The larger danger sits one layer deeper. If the EU prompts its anti-coercion instrument, the battle shifts from tariffs to monetary, regulatory or funding leverage, which might be way more disruptive for FX, charges and danger belongings. Sarcastically, repeated tariff brinkmanship might undermine the greenback by encouraging reserve and portfolio rebalancing away from US belongings.

For traders, that is a few rising geopolitical danger premium being repriced throughout currencies, equities and cross-border capital flows.

Netflix and Intel Forward of Earnings

Netflix inventory heads towards a key help stage

Netflix shares fell by round 30% within the second half of 2025 and prolonged losses by one other 6% in January 2026. The inventory is at the moment buying and selling at its lowest stage since April, closing 1.6% decrease final week at $88.

A powerful help zone round $83 is due to this fact coming into focus. This space marked a backside in April, from which the rally started that later pushed Netflix to new report highs. A sustained break beneath $83 might threaten the long-term uptrend.

The important thing resistance is situated at $110, the interim excessive of the multi-month downtrend. The newest sell-off began exactly at this stage. A bullish response close to or at help would stabilize the short-term chart image and assist protect the long-term uptrend.

Netflix weekly chart, earnings on Tuesday after the shut. Supply: eToro

Intel: Will earnings set off a technical breakout?

Intel shares are up 27% 12 months thus far. Final week’s shut was round $47, the very best stage in a 12 months. The important thing resistance sits at round $51, the 2023 excessive.

A sustained breakout above $51 would open up additional upside, with a possible goal zone round $68. A double high shaped in 2021 close to this stage, making it the following main resistance space.

After the sturdy short-term rally, a pullback can be doable and technically wholesome. In that case, Intel might try to interrupt the resistance on a second run. Any declines would initially be categorized as a correction inside the medium-term uptrend.

Robust help is situated round $34, the place buying and selling exercise was elevated within the fourth quarter. The 20-week shifting common is at the moment close to $37.

Intel weekly chart, earnings on Thursday after the shut. Supply: eToro

Silver Rally Intact, However Quick-Time period Warning Alerts Are Rising

Silver crossed the $90 mark for the primary time final week however failed to carry above it sustainably. Since Thursday, preliminary profit-taking has set in.

Whereas the broader uptrend stays intact, the rally is already nicely superior, growing the danger of a correction. An RSI studying of 84 indicators a short-term overbought market, whereas a bearish RSI divergence, rising costs alongside a falling RSI, provides to the warning.

The gap to the 20-week shifting common is greater than 30%, final examined in Might. Two key help zones, generally known as truthful worth gaps, are situated between $67.40 and $70.00, and $63.60 to $67.30.

Within the brief time period, the risk-reward profile seems unattractive. A pullback can be wholesome and will create rather more engaging entry ranges.

Silver weekly chart. Supply: eToro

Bitcoin: What Value Reveals is Solely the Floor

Bitcoin ended the week greater by greater than 5%, however this transfer appears very completely different from previous rallies.

The largest inform? ETFs pulled in over $1.4bn of web inflows in the course of the week, a pointy reversal from the earlier week’s outflows. That means demand didn’t disappear, and when sentiment stabilized, capital got here again shortly.

What’s lacking is simply as vital. Leverage is muted. CME futures foundation and perpetual funding charges stay nicely beneath ranges usually related to speculative extra. Costs are rising, however with out the gas that often precedes sharp reversals.

On the identical time, spot volumes are falling. Bitcoin and Ethereum buying and selling exercise has cooled, reinforcing a sample that’s been in place since final 12 months: this cycle is being pushed by establishments and ETFs, not retail. Altcoins proceed to lag, as excesses from prior cycles unwind.

There are exceptions. XRP has proven relative power, supported by regulatory progress in Europe and its positioning as a compliant settlement asset. Solana stays on institutional watchlists, however its value remains to be extra delicate to exercise cycles than Bitcoin’s structurally pushed flows.

Regulatory noise hasn’t helped. The blockage of the CLARITY Act has weighed on sentiment, particularly round stablecoins and tokenization. However the pushback itself highlights the place the actual friction lies and the place long-term change is almost definitely.

What to look at subsequent week:

Do ETF inflows persist regardless of softer spot volumes?
Can costs rise with out leverage returning?
Does US regulation make clear, or additional expose, structural tensions?
How markets stability institutional adoption with long-term warning.

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