Market Recap – January 4th
Markets were mixed today with the S&P 500 down 0.06%, the Dow Jones up 0.59%, and the NASDAQ down 1.33%. This closes the Santa Rally for the stock market, and it’s clear the Dow has been the biggest beneficiary while the NASDAQ has had a dreadful time. What seems to be occurring in the markets is a natural rotation out of risky, high growth stocks into cyclical, blue chip names, and this clearly affected Shopify today, with their shares falling by more than 10 percent. On the other hand, automotive company Ford saw a double digit increase in their share price because they announced plans to ramp up production on their electric F-150, which is in high demand.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.