WELCOME TO LEIBOVIT VR NEWSLETTERS – THURSDAY – JANUARY 18, 2024
This guy is still my friend. Recall, I had warned that the first quarter of 2024 might experience indigestion.
GENERAL MEDIA NEWS:
U.S. Stocks Move Mostly Lower As Data Adds To Interest Rate Uncertainty
After coming under pressure early in the session, stocks remained mostly lower throughout the trading day on
Wednesday. The major averages added to the losses posted during Tuesday’s session, with the Dow falling to
its lowest closing level in almost a month.
The major averages regained ground going into the close of trading but remained in negative territory. The
Dow dipped 94.45 points or 0.3 percent to37,266.67, the Nasdaq slid 88.73 points or 0.6 percent to14,855.62
and the S&P 500 fell 26.77 points or 0.6 percent to 4,739.21.
The early weakness on Wall Street partly reflected ongoing uncertainty about the outlook for interest rates
amid recent concerns the Federal Reserve won’t lower rates as early as previously anticipated.
Adding to worries the Fed will hold off on cutting rates, the Commerce Department released a report this
morning showing U.S. retail sales increased by more than expected in the month of December.
The report said […]
WELCOME TO LEIBOVIT VR NEWSLETTERS – WEDNESDAY – JANUARY 17, 2024
This guy is still my friend. Recall, I had warned that the first quarter of 2024 might experience indigestion.
Check my weekend letter for greater detail.
GENERAL MEDIA NEWS:
U.S. stocks closed notably lower on Tuesday as higher Treasury yields and concerns that the Federal Reserve
may not cut interest rates anytime soon hurt sentiment.
The major averages all ended in the red with the Dow finishing with a more pronounced loss. The Dow settled
with a loss of 231.86 points or 0.62 percent at 37,361.12. The S&P 500 ended down 17.85 points or 0.37
percent at 4,765.98.
The Nasdaq, which managed a brief spell in positive territory around mid morning, closed with a marginal loss
of 28.41 points or 0.19 percent at 14,944.35.
In addition to digesting some hawkish comments from some central bank officials, including from the Federal
Reserve, investors also reacted to quarterly earnings updates from some major U.S. companies such as Goldman
Sachs and Morgan Stanley.
Boeing shares dropped nearly 8 percent. The stock’s price declined after Wells Fargo downgraded the company,
amid ongoing issues with the 737 Max 9 model.
Morgan Stanley ended lower […]
