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Home Dow Jones Today

Dow Jones Today: January 24, 2023

by Elaine Mendonça
January 24, 2023
in Dow Jones Today
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On Monday, the US shareholders closed in positive territory: the S&P 500 gained 1.19% at 4,019.81, the Dow Jones rose by 0.76% to 33,629.56 and the Nasdaq made a +2, 01% to 11,364.41.

Investors prompted the prices of the upside-down shares on Monday as they hypothesized that the increases in Federal Reserve rates could slow down and prepared for a whole week of relationships on corporate profits.

Reports on profits will certainly maintain vigilant markets, with about 40% of the DOW ready to report the most recent tax data and provide a greater understanding of how companies manage the increase in prices and costs of loans. The important companies included are Microsoft, IBM, Tesla, Visa, and Mastercard.

The stock market rally underwent a setback at the beginning of last week, with the leading indices dropping below their key furniture. On Friday, however, the Nasdaq and the technological titles recorded a strong return. For the year 2022, the Nasdaq remained behind the most capitalization indices, but in 2023 the technological growth companies returned to favor, making the Nasdaq the leader of the price lists.

The economic data of last week revealed a drop in both the wholesale and retail sales costs, together with the declarations of the representatives of the central banks, which mention a deceleration.

Christopher Waller, the Governor of the Federal Reserve, spoke on Friday and indicated that during the next meeting, there could be an increase in a quarter of the rate’s percentage point, which gave investors a certain optimism. The Wall Street Journal reported on Sunday that a break in the rate rates could occur during the spring season, which means that the Fed could be close to the end of its efforts to increase rates.

As indicated by the CME Group data, the probability of an increase of 25 basis points was estimated at 99.7%, bringing the interest rate to an interval of 4.5% to 4.75%.

Last Sunday in China the holidays of the Lunar New Year began, with the consequent suspension of the equity markets on Monday 23 January. During the morning, Nikkei increased by 1.38 percent and the Asia Dow index recorded a 0.65 percent rise.

The leading Chinese epidemiologist declared that over 1.1 billion citizens had been affected by the Coronavirus which has extended to all parts of the country, contaminating almost 80% of the population. During the seven days preceding the start of the celebration of the Lunar New Year, on January 22, more than 12,600 people died due to Covid-19.

 

Tags: DOWdow jones futuresdow jones indexDow Jones Industrial Average
Elaine Mendonça

Elaine Mendonça

Over the last nine years, Elaine has managed investment portfolio using fundamental analysis and value investing, emphasizing long-term time horizons.

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The Best Stocks, its managers, its employees, affiliates and assigns (collectively “The Company”) do not make any guarantee or warranty about the advice provided on this website or what is otherwise advertised above.

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