Stocks Wrapping Up January With More Gains

The Nasdaq is up 9% this month

Deputy Editor
Jan 31, 2023 at 11:47 AM
facebook X logo linkedin


A packed earnings slate and the latest Federal Reserve policy meeting have the major benchmarks trading higher today and heading for their third monthly win in four. Nearly all sectors across the S&P 500 Index (SPX) are trading higher today, as it heads for its best January performance since 2019. The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are also higher this month, the latter boasting a 9% lead -- its best monthly win since July.

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

  • Why McDonald's stock is sitting out today rally.
  • Pfizer stock is trading at its lowest level in months.
  • Plus, unpacking three impactful earnings reports.

Midday Market Stats January 312023

Options traders are picking up shares of General Motors Company (NYSE:GM), after the automaker reported fourth-quarter sales and profits that topped forecasts. Digging deeper, more than 68,000 calls and 40,000 puts have been exchanged so far, volume that's five times the intraday average volume. New positions are being opened at the most active contract, the weekly 2/3 40-strike call. In addition, GM was last seen 7.6% higher at $39.05, eyeing its highest close since Dec. 2.

GM Chart January 312023

Spotify Technology SA (NYSE:SPOT) reported earnings that fell short of estimates; however, the shares are up 9.2% at $109.22 and trading near the top of the New York Stock Exchanged (NYSE), after a 20% year-over-year rise in monthly active users. SPOT sports a 38.5% year-to-date lead already and is trading at its highest level since August.

Phillips 66 (NYSE:PSX) is trading near the bottom of the NYSE, despite posting sky-high profits for the fourth quarter. The stock was last seen 5.7% lower to trade at $100.27, and just pulled back below its year-to-date breakeven level.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI