Week In Perspective January 30, 2023: Earnings and Data Tell Two Different Stories on Near Future
Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.
Stocks added to their early 2023 gains amid a busy stream of mixed corporate earnings results and conflicting economic data.
Stocks showed mixed results last week as recession fears resurfaced in response to weak economic data and a tepid start to a new corporate earnings season.
Stocks ended a volatile fourth quarter with a slight gain, which helped repair some of the damage since the beginning of the year.
Stocks rallied last week thanks to fresh confirmation of inflation’s cooling trend and growing optimism that an inflation slowdown may provide the Fed with space to ease up on future rate hikes.
A strong Friday rally triggered by fresh signs of moderating inflation pushed stocks into positive territory to begin the new year.
In a holiday-shortened week, erratic trading left stocks marginally down for the week.