Market Recap: A Week of Surprises and Momentum

Anticipation around upcoming big tech earnings and jobs data fueled a positive start on Wall Street. The Dow rose by 0.6%, the S&P500 added 0.8%, and the Nasdaq surged 1.1%. The Federal Reserve initiated a two-day meeting, and post-close tech earnings led to a wait-and-see attitude, resulting in mixed closing for Major Indices. The Dow increased by 0.4%, the S&P500 closed just below even, and the Nasdaq slid 0.8%.

The hawkish stance of the Federal Reserve and unchanged interest rates on Wednesday plunged the Major Indexes deep into the red. The Dow, S&P500, and Nasdaq finished 0.8%, 1.6%, and 2.2% lower, respectively. January concluded with healthy gains for Dow, S&P500, and Nasdaq.

Thursday witnessed a tech rally ahead of major tech earnings (Apple, Amazon, Meta), lifting Wall Street sharply. The Dow rose 1.0%, while the S&P500 and Nasdaq surged 1.3%. Encouraging tech earnings, coupled with better-than-expected jobs data, propelled U.S. stock markets higher on Friday. The Dow finished 0.4% higher, the S&P500 increased 1.1%, and the Nasdaq soared 1.7%.

All three Major Indices achieved higher movement for their fourth consecutive week.

Now, let’s turn our attention to the upcoming week. Join us in the video below for insights and predictions on what to expect from the stock market in the coming week.

Time Is Money: The Week ahead in Under 5!

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