Hi readers! It's Daniel Silva here, and today I want to talk to you about the stock market's incredible gains and whether they can continue in 2024. 🚀
As U.S. markets reopen after Martin Luther King Jr. Day, all eyes are on the banks. Morgan Stanley, Goldman Sachs, and PNC Financial Services are set to post earnings, and investors are eager to see the results. Stock futures are lower, and benchmark Treasury yields are trading around 4%. 📉
But let's dig deeper into the market's performance. In 2023, we witnessed a remarkable rally, with big tech stocks leading the way. However, as we entered the new year, some of these stocks started losing momentum. Government-bond yields have risen, and inflation might not be cooling as quickly as investors had hoped. After a strong start, the S&P is now clinging to a 0.3% advance in January. 📅
So, what's next for the stock market? Well, investors say that a decline in enthusiasm is normal after a period of robust gains like the ones we saw last year. They also highlight that the path of the economy and interest rates will be crucial in determining the market's trajectory in 2024. 📈
But let's not forget about the stocks to watch. Tesla, the electric-vehicle maker, saw its stock fall more than 2% after CEO Elon Musk mentioned his interest in building AI and robotics products outside of the company. Boeing, on the other hand, faces fresh delays in the resumption of 737 MAX jet deliveries to China after the recent Alaska Airlines incident. And Kroger's proposed merger with Albertsons will happen later than expected, as both companies continue discussions with regulators. Apple is also making headlines, as it removes a blood-oxygen sensor from some of its smartwatches to resolve a patent dispute. 📉
Today, we'll also be keeping a close eye on the earnings reports of Morgan Stanley, Goldman Sachs, and PNC Financial Services. These reports will provide valuable insights into the financial sector's performance and its impact on the overall market. 💼
As we embark on this new year, uncertainty looms in the market. But remember, with uncertainty comes opportunity. Stay informed, stay vigilant, and keep an eye on the latest news affecting the markets. And as always, invest wisely! 💪
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