Market Recap – January 12th
After opening negative, the markets made their way to the green side as investors digested the December CPI report. There were a lot at stake on Thursday, and investors seemed to be calmed by the economic data which is a good sign for the future. The eventful trading day ended with the S&P 500 up 0.34%, the Dow Jones up 0.64%, and the NASDAQ up 0.64%.
Tech ended up leading the way because interest rates aren’t going to be hiked, and it was a tech company who impressed yesterday, although the CPI report wasn’t the reason. TSMC rose by 6.38% to $87.00 following an earnings report where they provided weak guidance for investors. This is because investors now speculate that this could be the “bottom” for the semiconductor industry, pointing to better times ahead. Some techs also performed poorly, like Logitech who fell by 16.86% to $56.66 due to a disappointing earnings report where revenue missed expectations by 0.12 million dollars.
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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.