Stock Market Overview
Wed, Jan 26th, 2022
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Stocks Rebound Ahead of FOMC Meeting Results
Barchart - Wed Jan 26, 9:16AM CST
What you need to know…
The S&P 500 Index ($SPX) (SPY) this morning is up +1.59%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +1.18%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.99%.
A rally in technology stocks is leading on the overall market today, with the Nasdaq 100 index up nearly +2%. Microsoft and Texas Instruments are up more than +4% after both companies delivered upbeat earnings outlooks. Stocks are also moving higher today after Goldman Sachs said, “any further weakness at the index level should be seen as a buying opportunity.”
The markets are awaiting the results of today’s FOMC meeting to see how hawkish the Fed sounds in its fight to slow inflation. The markets expect the FOMC today to signal that it will begin raising interest rates as soon as the March policy meeting. The markets are also expecting the FOMC to indicate that it will reduce its balance sheet as soon as July.
The Euro Stoxx 50 index is up sharply today by +2.47%... Read more
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Rushing Headlong
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Glass half full call on S&P 500 yesterday was vindicated – this yet another reversal has the power to go on, and credit markets appear sniffing out the upcoming reprieve. While rates have justifiably...
