The First Slice for Thursday, January 25, 2024

In the world of finance and stocks, the past week has been a rollercoaster ride, and it’s left investors on the edge of their seats. U.S. stock indexes had a mixed day, but the S&P 500 managed to scrape out its fourth consecutive all-time high. However, this achievement was a bit of a nail-biter, with stocks initially rising but then slipping in the afternoon, primarily driven by the technology sector.

The Dow Jones Industrial Average closed down by 99.06 points, or 0.3%.
The S&P 500 finished up only 3.95 points, or less than 0.1%.
The Nasdaq Composite ended up by 55.97 points, or 0.4%.

One of the standout performers was Netflix, which saw its stock surge by a whopping 10.7% following strong earnings results. This set a positive tone for the technology-sector earnings season. Nvidia Corp. also hit an all-time high, rising to $613.62 per share. The focus remained on earnings reports, with big players like Tesla, IBM, and Lam Research expected to report their results later in the day.

Interestingly, investor sentiment seemed to sway as the day progressed. Strong economic data released earlier had some analysts suggesting that the Federal Reserve might not cut interest rates as aggressively as previously expected. The S&P flash U.S. services PMI and manufacturing PMI both showed strong numbers, indicating a more stable economic outlook.

While investors grapple with these fluctuations, it’s clear that the market is in a “fear-of-missing-out” mode, especially when it comes to the technology sector. The excitement around tech stocks and the impressive returns they’ve been delivering are driving this sentiment………[read more]

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