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The First Slice for Tuesday, January 30, 2024

The First Slice for Tuesday, January 30, 2024

U.S. stocks had a positive start to the week, driven by some significant developments and events. The Treasury Department’s announcement of lower-than-expected borrowing in the first quarter brought good news for investors. This reduction in borrowing, totaling $55 billion less than anticipated, had a positive impact on the bond market, leading to a ripple effect in the stock market. One expert noted that everything in the market seemed to revolve around interest rates, emphasizing their crucial role in shaping investor sentiment.

The bond market’s positive reaction led to a 7 basis points drop in the benchmark 10-year Treasury yield, which had previously hit a 16-year high due to concerns about heavy Treasury supply and potential long-lasting Federal Reserve rate hikes.

Investors also had their eyes on a busy week ahead, with several major corporations like Microsoft, Apple, Alphabet, Amazon, and Meta Platforms set to release their earnings reports. These earnings announcements could potentially drive stock prices even higher if they exceed expectations.

In addition to earnings reports, investors were preparing for a Federal Reserve interest-rate decision later in the week, as well as important jobs market data. However, geopolitical concerns loomed after an attack in Jordan that killed three U.S. soldiers and injured 34 more, impacting oil futures and gold prices.

Despite these uncertainties, many stock market indices, including the S&P 500, S&P 100, and Nasdaq-100, were hitting all-time highs. This development was seen as a positive sign, creating a platform for potential further gains. Nevertheless, experts also expressed caution regarding overbought technical conditions, divergent momentum, and stretched sentiment indicators……….First-Slice-e1700879991202 The First Slice for Tuesday, January 30, 2024[read more]

*Click on the “First Slice” icon for the full article! What are your thoughts on what is happening in the market & economy?

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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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