What to watch today: Futures point to Dow, Nasdaq drops after earnings

What to watch today: Futures point to Dow, Nasdaq drops after earnings  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  VIEW IN BROWSER | SUBSCRIBE WED, JAN 27, 2021 MORNING SQUAWK Dow futures fell sharply Wednesday, with earnings once again a main focus on Wall Street. AS OF WED, JAN 27, 2021 • 08:14 ET Dow Jones Fut 30,937.04 Current: 30,524.00 Change: -318.00 Impl. Open: -308.04 S&P 500 Fut 3,849.62 Current: 3,799.75 Change: -42.75 Impl. Open: -41.87 NASDAQ 100 Fut 13,490.19 Current: 13,371.50 Change: -114.00 Impl. Open: -107.69 Russell 2000 Mini 2,149.86 Current: 2,094.20 Change: -51.60 Impl. Open: -48.46 BY THE NUMBERS Dow futures fell sharply Wednesday, with earnings once again a main focus on Wall Street. Dow stock Boeing (BA) lost 3.5% after disappointing numbers. The Dow, Nasdaq and S&P 500 closed modestly lower Tuesday but remained near recent record highs. The government reports December durable goods orders at 8:30 a.m. ET. The Fed ends its two-day January policy meeting Wednesday afternoon. (CNBC) * Weekly mortgage demand falls, but size of average homebuyer loan hits record (CNBC) Boeing reported a record net-loss of $11.9 billion in 2020, results that worsened as the company pushed back the debut of its 777X plane to late 2023. The struggling aircraft maker took a $6.5 billion charge in the fourth quarter. Boeing reported a Q4 loss of $15.25 per share. Revenue of $15.3 billion exceeded expectations. (CNBC) Ahead of their earnings reports set for release Wednesday afternoon, tech giants Apple (AAPL) and Facebook (FB) saw their shares in the green in the premarket but Tesla (TSLA) shares were in the red. (CNBC) * Alphabet, Facebook rise after Microsoft reports surprisingly strong ad revenue (CNBC) * Microsoft shares jump 3.5% in premarket after tech giant's strong earnings (CNBC) Melvin Capital closed out its short position in GameStop on Tuesday afternoon after taking a huge loss, manager of the fund Gabe Plotkin told CNBC's Andrew Ross Sorkin. GameStop shares have more than doubled this week alone, driving their January gains to 685%. The stock was worth just $6 four months ago. (CNBC) * AMC shares triple as retail investor raid of hedge fund short targets spreads from GameStop (CNBC) * Robinhood CEO: Becoming an investor is the new American dream (CNBC) IN THE NEWS TODAY President Joe Biden is calling on the nation's top scientists and public health experts to regularly update Americans about the Covid pandemic, which has claimed more than 425,000 lives in the U.S. Beginning Wednesday, administration experts, including Dr. Anthony Fauci, will host briefings three times a week. (CNBC) * Democrats prep Biden's virus aid package with or without Republicans (AP) * France's Sanofi to help make rival vaccine, even as its vaccine candidate stalls (AP) * Biden to reopen 'Obamacare' markets for Covid relief (AP) Biden said Tuesday the U.S. government is working to purchase an additional 200 million doses of Covid vaccines, split evenly between Pfizer's shots and Moderna's, in a move that could provide enough doses for nearly every American to get fully inoculated by the fall. (AP) * Biden's Justice Department rescinds 'zero tolerance' immigration rule (AP) * Biden to suspend new oil and gas leasing on federal land (WSJ) A large-scale GOP defection that would ultimately purge Trump from the party appears unlikely. Senate Republicans voted overwhelmingly Tuesday for an attempt to dismiss the former president's second impeachment trial. Only five Republican senators rejected the challenge, which failed in the narrowly divided but Democratically controlled Senate. The trial is set to start on Feb. 8. (AP) * Sen. Patrick Leahy, set to preside over Trump impeachment, returns home after brief hospitalization (CNBC) Starbucks (SBUX) Chief Operating Officer Rosalind Brewer will replace Stefano Pessina as CEO of Walgreens Boots Alliance (WBA), the drugstore chain confirmed in a statement. Starbucks had announced Brewer's departure earlier in the day, saying she is leaving at the end of February for a CEO position at an undisclosed publicly traded company. (CNBC) * Starbucks tops earnings estimates even as U.S. recovery hurt by Covid resurgence (CNBC) * Walmart bets bigger on online grocery as it ramps up automated fulfillment at local stores (CNBC) AT&T (T) beat estimates on both the top and bottom lines, and also added a greater-than-expected number of post-paid phone subscribers. Separately, AT&T was hit with a $1.35 billion lawsuit by Seattle-based Network Apps, which accused AT&T of stealing its device synchronization technology following the end of a joint venture between the two companies. Shares of AT&T fell 2.5% in the premarket. (CNBC) Goldman Sachs (GS) CEO David Solomon saw his pay slashed by just over a third for 2020 as part of a punishment for the bank's role in the 1MDB scandal. Goldman, which saw its highest revenue in over a decade last year despite the pandemic, has admitted to wrongdoing during its time working for the now-infamous Malaysian government development fund. (CNBC) * Sheldon Adelson's casino empire installs new leadership after his death (WSJ) STOCKS TO WATCH VF Corp. (VFC), the maker of Vans sneakers and North Face outerwear, beat estimates by 3 cents a share, with quarterly earnings of 93 cents per share. Revenue was essentially in line with estimates. VF also raised its forecast, as work-from-home consumers embrace its leisurewear. The company's shares slid 3.5% in premarket trading. Target (TGT) and Levi Strauss (LEVI) announced an expansion of their partnership, launching "Levi's For Target Home Collection" featuring home d cor and lifestyle items. Advanced Micro Devices (AMD) beat estimates by 5 cents a share, with quarterly earnings of 52 cents per share. The chip maker's revenue came in above consensus as well. AMD saw strong demand for chips used on gaming consoles, personal computers and data centers, and it also gave an upbeat 2021 sales forecast. AMD shares fell 2.8% in premarket trading. Texas Instruments (TXN) reported quarterly profit of $1.64 per share, 30 cents a share above estimates. The chip maker's revenue was also above forecasts. It also gave an upbeat current-quarter revenue forecast, helped by strong demand for chips used in personal electronics. Its shares dropped 2.8% in the premarket. Automatic Data Processing (ADP) , a payroll processing company, reported quarterly earnings of $1.52 per share, beating the consensus estimate of $1.29 a share. Revenue also came in above forecasts. ADP also raised its full-year forecast. ADP shares slipped 1% in the premarket. Private-equity giant Blackstone (BX) reported distributable earnings per share of $1.13, compared to a consensus estimate of 89 cents a share. Its results were helped by a jump in the value of its private-equity portfolio amid gains in the overall market. Exchange operator Nasdaq (NDAQ) reported better-than-expected profit and revenue for its latest quarter, helped by a surge in trading volumes. Capital One (COF) reported better than expected profit and revenue for its latest quarter, helped by smaller provisions for credit losses. The company's shares rose 3% in the premarket. Southwest Airlines (LUV) is making another round of voluntary leave offers to workers, according to a memo first reported by Bloomberg News. The airline said it remains overstaffed in many areas as the pandemic continues to hurt travel demand. Southwest's shares fell 1.5% in premarket trading. Allstate (ALL) is selling most of its life insurance business to private equity firm Blackstone (BX) for $2.8 billion. The deal is expected to close during the second half of 2021. WATERCOOLER The baseball Hall of Fame, located in central New York state, won't have any new players in the class of 2021 after voters decided no one had the merits, on the field or off, for enshrinement in Cooperstown. Curt Schilling, Barry Bonds and Roger Clemens, who all came close in the voting, will have one more chance next year. (AP) CONTRIBUTORS Matthew J. Belvedere @Matt_Belvedere Peter Schacknow @peterschack Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS