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The First Slice for Friday, January 19, 2024

The First Slice for Friday, January 19, 2024

U.S. stock indexes bounced back on Thursday, reversing earlier losses, thanks to a surge in technology stocks driven by optimism about artificial intelligence. Despite concerns about the Federal Reserve’s interest rate decisions, the S&P 500 and Nasdaq Composite erased all their 2024 losses. Taiwan Semiconductor Manufacturing Co. reported better-than-expected results, pushing its shares up by 9.8%. The VanEck Semiconductor exchange-traded fund, tracking major U.S.-listed chip makers, also reached an all-time high.

Additionally, Apple Inc.’s stock received an upbeat outlook from BofA Securities analyst Wamsi Mohan, leading to a 3.3% increase in its value, driven by optimism about the iPhone business. However, there’s still uncertainty about whether the Federal Reserve will cut interest rates as quickly as the market expects.

The Fed’s previous meeting had raised expectations of rate cuts beginning in March 2024, but strong December retail-sales data and policymakers’ statements have cast doubt on these expectations. The central bank may not rush to reduce borrowing costs as the economy shows resilience. Amidst this backdrop, U.S. stocks have faced a turbulent start to the year, with the S&P 500 retreating from record highs, and the 10-year Treasury yield has surged.

In economic news, the number of Americans applying for first-time unemployment benefits hit a 16-month low, suggesting a strong labor market, a crucial factor in the Fed’s policy decisions. Despite concerns in the banking and technology sectors, the labor-market data hasn’t indicated a significant slowdown in growth………First-Slice-e1700879991202 The First Slice for Friday, January 19, 2024[read more]

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stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

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