Friday, January 19, 2024

Stock Market Recap - January 16- 19,2024

 

3 Nephi 15:9  Behold, I am the alaw, and the blight. Look unto me, and endure to the end, and ye shall clive; for unto him that dendureth to the end will I give eternal life. 3 Nephi


January 19, 2024


It is a record-high Friday for the US major benchmarks.

  • SPY +.89%  DIA +.56%  QQQ +1.42%
52-week highs for some mega technology stocks:
  • GOOGLE +2.02%  META +1.95%  NVDA +4.17%
  • MELI +3.86%

January 18, 2024


The U.S. equities from 2 days' losses, AAPL +3.26% rallied on the BOFA upgrade citing strong demand for its upcoming launch of Vision Pro whose debut has been delayed to March as AAPL cites strong demand for the product.  AAPL weighs 7.03% of the S&P 500 index, hence the market is sensitive to AAPL stock price reaction.  


US Macro News:  US Weekly Jobless Claims and Housing permits

  • Weekly jobless claims fall 16,000 to 187,000
  • Continuing claims drop 26,000 to 1.806 million
  • Single-family housing starts decline 8.6% in December
  • Single-family building permits increase 1.7%

The AI bull momentum continues as TSM +9.79% rallied on a strong earning report citing 20% growth this year because of AI high-end chips.



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