Wednesday Jan 14 outlook

The SPY cracked below 200 in the pre, as it traded down to a low of 198.98 around 0730. It's currently trading around 199.54. Yesterday it opened around 204, hit a high of 205.48 then closed just off the lows at 202.

From MarketWatch:
"NEW YORK (MarketWatch) — U.S. stock futures crashed on Wednesday, after surprisingly weak December retail sales triggered fears that falling oil prices are not having a desired positive effect on consumer spending.
Futures were already moving sharply lower following disappointing results from banking giant J.P. Morgan Chase & Co. and further signs of weakness in global growth from the World Bank."

Here's what I'm watching today with commentary from www.marketwatch.com:

J.P. Morgan Chase JPM, -2.28%  reported worse-than-expected fourth-quarter earnings, missing analysts estimates on revenue and profit, dragged down by nearly $1 billion in legal expenses.

TT Notes: This was the biggest miss since '08. It makes an APEM move of 1.7% with a max of 3.5% and a low of 1.3% . The stock closed at 58.84 and is currently trading near the lows at 57.27.

Wells Fargo WFC, -1.62%  reported fourth-quarter earnings of $1.02 a share, matching analysts’ expectations. Revenue of $21.4 billion topped views as the bank posted stronger loan growth.

TT Notes: It closed at 51.85 and traded at a low of 50.65, down 2.3%. It's currently trading at 51.07. The stock makes an APEM of 1.8% with a max move of 3% and a low of 1.1%

Tesla Motors Inc. TSLA, -9.03%  shares fell 7.1% to $189.73 on moderate volume following a report that sales of electric cars in China declined significantly in the last quarter.

Freeport-McMoRan Inc.’s FCX, -7.55%  price target was lowered to $36 from $40 at Deutsche Bank on Monday on expectations of further challenges for metals companies this year.