Market Recap – January 11th
The S&P and other indexes started the year with a slight downward trajectory. Yesterday however, the indexes appeared to rebound with the DOW, S&P, and NASDAQ all up close to 1%. This added to Tuesday’s rebound, which closed fractionally higher for the Nasdaq. According to Bespoke Investment Group, the investments making up the bulk of this reversal were those which had seen the worst year-to-date performance. Two specific stocks we’re watching for the next week are Illumina and the grocery store Albertsons. Illumina shot up 12.7% in reaction to a strong 2022 revenue outlook. Albertson stock contrarily moved down 6% despite strong fourth-quarter earnings.
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.