First Slice for Tuesday, January 24, 2023

Monday saw the Nasdaq Composite leading stocks to a higher finish, continuing a rebound from late last week. Investors are keeping a close eye on a stream of corporate results as well as the outlook for Federal Reserve rate hikes and the prospects for an economic soft landing.

  • The Dow rose +254.07 or +0.76%
  • The S&P 500 finished up +47.20 or +1.19%
  • The Nasdaq advanced +223.98 or +2.01%

Wall Street opened trading on Monday just where it left off last week – focused on the same news that has driven investors to buy and sell stocks for the past few weeks. Fears of an economic slowdown, the expected move by the Federal Reserve to raise interest rates, and the impact these factors will have on corporate earnings continue to be major influences on Wall Street. The technology sector was particularly active Monday, as U.S.-listed shares of audio-streaming service Spotify Technology SA rose 2.1% in the wake of its announcement of layoffs. This followed a long list of job cuts announced by other tech giants such as Inc. and Google parent Alphabet Inc. last week.

With the Fed now in its blackout period ahead of its next decision on interest rates, coming on February 1, investors will now be turning their focus to the ongoing earnings season to determine the direction of the markets. Analysts are expecting strong numbers from several major companies, including Apple Inc., Microsoft Corp., and Facebook Inc., which could signal continued economic growth.

In addition to earnings news, investors will be keeping a close eye on any further developments regarding the U.S.-China trade war, which has been a major source of uncertainty for the markets. The two countries are expected to resume talks soon, and any resolution could provide a boost to the markets.

All in all, Monday was a day of mixed news for Wall Street, with tech-related shares providing most of the gains. With the earnings season in full swing, investors will be keeping a close eye on any potential catalysts that could move the markets in either direction…….Click here to read the source article[read more]

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