Market Recap – January 19th
US stocks moved lower once again on Thursday due to fears of interest rate hikes and the US officially hitting the debt limit. It’s trending towards this week being a negative one as we get closer to earnings season and the Federal Reserve meeting, and the latter could cause volatility next week too. The markets closed with the S&P 500 down 0.76%, the Dow Jones also down 0.76%, and the NASDAQ down 0.96%.
Along with the broader market, Alcoa fell by 7.35% to $49.52 after poor earnings in a quarter where aluminum prices have fallen along with other commodities. There were positives, too, but they were after the bell. In after-hours trading, Netflix rose by 7.12% to $338.27 after topping earnings expectations and announcing that Reed Hastings is stepping down as the CEO.
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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.