WELCOME TO LEIBOVIT VR NEWSLETTERS – ‘TURNAROUND TUESDAY’ – JANUARY 16, 2024
GENERAL NEWS:
With traders digesting earnings news from several big-name companies as well as the latest U.S. inflation data, stocks fluctuated over the course of the trading session on Friday.
While the S&P 500 and the Nasdaq eventually ended the session slightly higher, the narrower Dow showed a modest move to the downside.
The S&P 500 inched up 3.59 points or 0.1 percent to 4,783.83 and the Nasdaq crept up 2.57 points or less than a tenth of a percent to 14,972.76, the Dow dipped 118.04 points or 0.3 percent to 37,592.98.
For the week, the tech-heavy Nasdaq spiked by 3.1 percent, the S&P 500 jumped by 1.8 percent and the Dow rose by 0.3 percent.
A steep drop UnitedHealth (UNH) weighed on the Dow, with the health insurance giant tumbling by 3.4 percent despite reporting fourth quarter results that beat analyst estimates on both the top and bottom lines.
Financial giants Bank of America (BAC), Wells Fargo (WFC) and JPMorgan Chase (JPM) also moved to the downside after reporting their […]
WELCOME TO LEIBOVIT VR NEWSLETTERS – THURSDAY – JANUARY 11, 2024
GENERAL NEWS:
After ending the previous session on opposite sides of the unchanged line, the major U.S. stock indexes all
moved to the upside during trading on Wednesday. With the upward move, the tech-heavy Nasdaq closed higher
for the fourth straight session.
The major averages pulled back off their best levels in late-day trading but remained in positive territory.
The Nasdaq advanced 111.94 points or 0.8 percent to 14,969.65, the S&P 500 climbed 26.95 points or 0.6
percent to 4,783.45 and the Dow rose 170.57 points or 0.5 percent to 37,695.73.
The strength on Wall Street may have reflected optimism ahead of the release of key U.S. inflation data in
the comings days.
The Labor Department’s reports on consumer and producer price inflation, which are due to be released on
Thursday and Friday, respectively, could have a significant impact on the outlook for interest rates.
With economists expecting the reports to show slowdowns in the annual rate of core price growth, the data
could bolster optimism about near-term rate cuts by the Federal Reserve.
However, if the data surprises […]
