Nasdaq index in January the best dynamics since 2001
Nasdaq index in January the ...
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Nasdaq index in January the best dynamics since 2001

1 February 2023
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2 min.
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Nasdaq index in January the best dynamics since 2001

The best January since 2001

At the end of January the Nasdaq Composite stock index, consisting of shares of high-tech companies, rose by 11%, which was the best dynamics for this period since 2001.

Analysts consider several factors as the reason for such positive dynamics slowdown of inflation, forecasts of smaller than expected recession in the USA, as well as expectations that the FRS will start to reduce the rate of increase of discount rates and this will be another sign of economic recovery.

It's worth noting that the Dow Jones Industrial Average was up 369 points, or 1.1 percent, at the close of the market. The S&P 500 Index was up 1.5%, and the Nasdaq Composite was up 1.7%.

Many expect the Federal Reserve to raise rates by 25 basis points at its meeting Wednesday, but stocks have rallied recently in hopes that the central bank will later hold off on raising interest rates.

"Markets are still counting on a dovish outcome, and we think a hawkish surprise is possible when Powell makes clear that the fight against inflation is not over and a premature 'pause' in rate hikes could lead to higher inflation in the future," wrote Collin Martin, a fixed-income strategist at Charles Schwab Corporation.

Home prices fell in November, according to the S&P CoreLogic Case-Shiller Indexes released Tuesday, with home prices rising 7.7% unadjusted year-over-year, compared with a 9.2% gain in October.

Meanwhile, the Conference Board Consumer Confidence Index fell more than expected to 107.1 in January, while economists had forecast 109.0, according to FactSet. The January figure was down from a revised December reading of 109.0.

Also Tuesday, General Motors (GM) shares were up 8.3 percent by market close after its 2023 outlook beat expectations and the company said it will invest $650 million in Lithium Americas (LAC) to provide raw materials for its electric cars. ambitions.

The tech company earnings series began with Spotify (SPOT) reporting ahead of Thursday's results from Amazon (AMZN), Google parent Alphabet (GOOG) and Apple (AAPL). Spotify shares rose after the company reported strong user growth despite an increase in losses.

Persons1 and Companies10 in the news

Chartered Financial Analyst at Charles Schwab
1 place
Spotify
2 place
Nasdaq
3 place
Dow Jones
4 place
Charles Schwab
7 place
Apple
9 place
Amazon
10 place
Section:
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Rating companies
Instagram
15 Mention
Tesla
14 Mention
Netflix
14 Mention
JP Morgan Chase
11 Mention
Amazon
10 Mention
Ford Motor Company
10 Mention
TikTok
8 Mention
White House
7 Mention

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