Investors Attempt to Brush Off Hawkish Fed Comments

All three major indexes finished quietly higher

Digital Content Manager
Jan 4, 2023 at 4:29 PM
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The major indexes wavered midday, thanks to more hawkish comments from the Fed. The Dow dipped back below breakeven before settling with a muted win, while the S&P 500 and Nasdaq logged quiet gains of their own. The Federal Reserve released its December meeting minutes, which hinted at even more rate hikes in an effort to cool inflation, though it looks like investors are trying to brush off the bad news. 

Continue reading for more on today's market, including:

Closing Index Summary January 042023

NYSE and Nasdaq Stats January 042023

5 Things to Know Today 

  1. The number of new car buyers paying over $1,000 per month has hit a record high. (CNBC)
  2. The European Union (EU) is trying to navigate a response to China's surge in Covid cases, though the agreed upon restrictions will likely upset both Beijing and Airlines. (MarketWatch
  3. Analysts are making big bets on these two stocks
  4. It might be time to dump these Dow members.
  5. Digging into Salesforce's restructuring plan.

There were no earnings of note today.

Unusual Options Activity January 042023

Gold Grabs Fourth-Straight Win 

Oil continues to buckle under the weight of recession worries, hitting its lowest settlement in over three weeks. West Texas Intermediate (WTI) crude for the now most active, February delivery, shed $4.09, or 5.3%, to settle at $72.84 per barrel.

Gold settled at its highest level in nearly seven months, thanks to cooling bond yields and weakness in the U.S. dollar. February-dated gold rose for its fourth-straight session by $12.90, or 0.7%, to settle at $1,859 per ounce on the day.



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