US Market Round Up Today 1/23/2023
| S&P 500 | 4,556.62 | +18.43(+0.41%) |
| Nasdaq | 14,265.86 | +65.88(+0.46%) |
| Crude Oil | 76.29 | -0.81(-1.05%) |
| Dow 30 | 35,273.03 | +184.74(+0.53%) |
| Russell 2000 | 1,795.54 | +12.28(+0.69%) |
| Gold | 1,995.90 | +3.10(+0.16%) |
| Silver | 23.73 | +0.04(+0.18%) |
| EUR/USD | 1.0906 | +0.0020(+0.1828%) |
| 10-Yr Bond | 4.4160 | -0.0020(-0.05%) |
| GBP/USD | 1.2508 | +0.0016(+0.1281%) |
| USD/JPY | 149.0630 | -0.4430(-0.2963%) |
| Bitcoin USD | 37,351.03 | +956.69(+2.63%) |
| CMC Crypto 200 | 775.76 | +19.95(+2.64%) |
| FTSE 100 | 7,469.51 | -12.48(-0.17%) |
| Nikkei 225 | 33,451.83 | +97.69(+0.29%) |
Positive takeaways:
- The S&P 500 rebounded 0.4% after breaking its five-day winning streak.
- The Dow and Nasdaq also rose in anticipation of strong Thanksgiving travel and favorable weather forecasts across the country.
- Airline and cruise line stocks gained on the back of positive travel outlook.
- HP (HPQ) shares jumped 2.8% after the PC and printer manufacturer anticipated a market rebound driven by expected demand for artificial intelligence (AI) computers.
- EBay (EBAY) shares climbed 3.1% on reports of a potential deal where the e-commerce company would sell half its stake in Adevinta, a Norway-based online classified ad firm, and retain a 20% ownership when Adevinta goes private.
Negative takeaways:
- Deere & Co. (DE) shares plunged 3.1% after the farm equipment manufacturer projected 2024 profit to miss estimates due to falling commodity prices and rising inflation and interest rates impacting demand.
- Tesla (TSLA) shares fell 2.9% after the electric vehicle maker once again cut prices of its vehicles, this time by as much as $3,000.
- Nvidia (NVDA) shares declined 2.5% after the AI chip powerhouse warned that new U.S. export restrictions on China will negatively impact its current quarter results.
Details:
S&P 500 rebound
The S&P 500 index rebounded 0.4% after snapping its five-day winning streak. The index closed at 4,556.62, up from 4,548.77 on Tuesday. The rebound was led by gains in the technology and healthcare sectors.
Dow and Nasdaq also rise
The Dow Jones Industrial Average rose 0.5% to close at 35,273.03, while the Nasdaq Composite rose 0.5% to close at 14,265.86.
Airline and cruise line stocks gain
Airline and cruise line stocks gained on the back of positive travel outlook. American Airlines (AAL) shares were up 1.5% and Carnival Corporation (CCL) shares added 1.9%. The gains were seen as a sign that investors are optimistic about the upcoming holiday travel season.
HP shares jump
HP (HPQ) shares jumped 2.8% after the PC and printer manufacturer anticipated a market rebound driven by expected demand for artificial intelligence (AI) computers. The company said it expects its sales to grow in the fourth quarter and that it is seeing strong demand for its AI products.
EBay shares climb
EBay (EBAY) shares climbed 3.1% on reports of a potential deal where the e-commerce company would sell half its stake in Adevinta, a Norway-based online classified ad firm, and retain a 20% ownership when Adevinta goes private. The deal is expected to close in the first half of 2024.
Deere shares plunge
Deere & Co. (DE) shares plunged 3.1% after the farm equipment manufacturer projected 2024 profit to miss estimates due to falling commodity prices and rising inflation and interest rates impacting demand. The company said it expects net income for the year to be between $8.7 billion and $9 billion, below analysts’ expectations of $9.4 billion.
Tesla shares fall
Tesla (TSLA) shares fell 2.9% after the electric vehicle maker once again cut prices of its vehicles, this time by as much as $3,000. The price cuts are seen as a sign that the company is facing increased competition in the EV market.
Nvidia shares decline
Nvidia (NVDA) shares declined 2.5% after the AI chip powerhouse warned that new U.S. export restrictions on China will negatively impact its current quarter results. The company said the restrictions could cut its revenue by as much as $400 million in the current quarter.
