Dow, Nasdaq Pivot Higher to Score Triple-Digit Gains

Better-than-expected GDP growth eventually contributed to optimism

Digital Content Manager
Jan 26, 2023 at 4:30 PM
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Strong gross domestic product (GDP) data eventually brought tailwinds to Wall Street, with the economy expanding a better-than-expected 2.9% in the fourth quarter. The Dow added 205 points, while the tech-heavy Nasdaq scored a triple-digit gain, thanks partially to upbeat earnings results from Tesla (TSLA). The S&P 500 settled firmly higher as well, with investors now eyeing next week’s Federal Reserve policy meeting, which could bring a 25 basis point rate hike.

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

  • Casino stock upgraded after earnings.
  • Setting up investing resolutions for 2023.
  • Plus, unpacking Tesla's quarterly win; keep tabs on this energy stock; and analyst turns bearish on PFE.

Closing Index Summary January 262023

 NYSE and Nasdaq Stats January 262023

5 Things to Know Today 

  1. Sam’s Club, which is owned by Walmart (WMT), plans to open more than 30 new U.S. clubs after seeing sales and memberships rise during the pandemic. (CNBC)
  2. The U.S. Food & Drug Administration (FDA) asked Congress to create a regulatory pathway for CBD, after noting it will not regulate it. (MarketWatch
  3. Tesla stock lured in options bulls with record revenue.
  4. This red-hot energy stock looks poised for more highs.
  5. Pfizer stock downgraded on lower Covid-19 expectations.

Earnings January 262023

Unusual Options Activity January 262023

Gold Prices Snap 5-Day Win Streak

Oil prices settled higher on Thursday, as investors remained hopeful that demand from China will pick up as the country eases Covid-19 restrictions. March-dated crude added 86 cents, or 1.1%, to settle at $81.01 per barrel.

Meanwhile, gold prices settled lower and snapped their five-day win streak. Strong GDP growth weighed on the yellow metal, with investors expecting the Federal Reserve to maintain a hawkish stance. February-dated gold shed $12.60, or 0.7%, to settle at $1,930 per ounce.

 

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