Stock Market Update Friday January 26, 2024

Jan 27, 2024

∙ Paid

Stock Market Update Friday January 26, 2024 A slight pullback interrupted the S&P 500’s five-session streak of fresh closing highs, with the broad index relinquishing an early upward momentum to end marginally lower. Meanwhile, the Nasdaq 100 once again lagged behind, settling 1.5% below its Wednesday midday levels. Last evening, Intel, following in the footsteps of Texas Instruments, issued discouraging guidance for the upcoming quarters.

That trend seems to be persisting into this year. However, these companies, among others, provide insight into the true state of the economy and corporate America. As I mentioned yesterday, despite injecting $2 trillion in deficit spending into the economy, we haven't seen much GDP growth as a result. Significant problems persist, yet the market appears to be disregarding them, continuing to move forward regardless.

Away From Stocks: Short-term Treasuries experienced some weakness, with two-year yields rising by six basis points to 4.34%, while long-term bonds remained unchanged at 4.38%. WTI crude surpassed $78 a barrel, and gold held steady at $2,018 an ounce. The VIX hovered slightly above 13.