Stock Market Today (as of Jan 31, 2023)

Submitted by Any-Lie-1107 t3_10pxxcb in wallstreetbets

The three major U.S. stock indexes tumbled last night, ending their sixth straight positive day. By the close, the Dow was down 0.77%, the Nasdaq was down 1.96% and the S&P was down 1.3%.

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The 10-year Treasury yield rose 0.998% to 3.542%, a gap of -70 basis points over the two-year yield. The fear index VIX rose 7.73%, Brent crude closed down 2.04% and spot gold continued to rally, down 0.27% at $1,922.61 an ounce. The dollar index continued to retreat from its highs to close at 102.01.

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Dallas Fed Business activity Index for January -8.4, expectations are -15, last month was -18.8. Moody's expects the modest economic cooling in the fourth quarter to continue this year. Traders are betting that ECB rates will peak at 3.5% for the first time since January 11. Markets are fully pricing in a 50 bps rise by the ECB this week for the first time since December 28.

Trending Stocks

Alphabet C (GOOG)

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Google fell 2.74% after foreign media said Waymo, Google's self-driving unit, cut jobs and its self-driving trucks department was hurt the most. Research has been released on MusicLM, an AI model that can generate any type of hi-fi music from text descriptions, but Google does not plan to release the model immediately due to concerns about the risks.

SoFi Technologies (SOFI)

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SOFI rose 12.46%, 22Q4 revenue rose 60% year over year, net loss narrowed 64% year over year, and forecast Q1 adjusted revenue of $430 million to $440 million, slightly below consensus of $443.5 million. Meanwhile, Wedbush analyst David Chiaverini maintained a Buy rating on SoFi Technologies today and set a price target of $8.00.

Opportunities

Market is now pricing a 99% chance of Fed raising 25bps in the Feb 1st meeting. Meanwhile, the earnings so far have reflected the US economy is in the recession. Nearly 140 S&P 500 has posted their latest earnings, 70% have exceeded the expectations.

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Under these circumstances, investors should be looking for stocks with the growth and reasonable valuations. Here is the screener for Grow-at-a-reasonable-price stocks.

Growth at a Reasonable Price (GARP) Stocks

View more : https://www.ainvest.com/market-trends/morning-brief/

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Comments

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Unknownirish t1_j6mpdsj wrote

We get it. There is a lot of fear right now.

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Exterminator2022 t1_j6mqs9x wrote

Which fear? Greed and fear index is at greed.

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Unknownirish t1_j6mrdr3 wrote

I haven't checked that in months.

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Exterminator2022 t1_j6ms69g wrote

I had stopped too but out of curiosity I checked it yesterday. Greeeed.

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Unknownirish t1_j6mshf7 wrote

I mean I'm not changed just yet. This is likely FOMO and the worse year we just had. People want a win and are acting irrationally.

I hold not looking at the Fed projections (25bps is set in stone) and Papa Pow is a pussy.

Sad for my puts.

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AcceptableEnd8715 t1_j6mqhtx wrote

Lmfaoooooooo for weeks every fickjng news source and the market itself have been acting like they’re pricing in 25 points. No all of a sudden u wanna say this movement is indicative of a 50 point hike. IM CALLING BULLSHIT. Id love the 50 point hike but I’m very skeptical with the way this rally’s been going. It’s more regarded than most of this subreddit

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VisualMod t1_j6mobjs wrote

Hey /u/Any-Lie-1107 - I'm a bot from /r/wallstreetbets. You submitted a spam domain 'ainvest.com' and your submission was removed.

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hearthegrassgrow t1_j6n07tk wrote

Safe Haven with dividend stocks. Good against heart attack 😜

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thehandsoap t1_j6no9o8 wrote

I’m switching to calls today so you no tomorrow it will tank and all the puts I sold will be worth gold

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