Market Recap – January 27th
Markets continued down into the red today as the Federal Reserve’s Chair Jerome Powell made clear that the central bank is ready to lift interest rates. By making it harder to borrow interest rates slow economic growth. The S&P is down less than a percent, edging closer to the levels it sat at during October of last year. Looking at more specific investments, we’re watching Texas Instruments and Microsoft. Texas Instruments saw a nice boost in their stock in reaction to better-than-expected quarterly revenue figures. In total the company saw fourth-quarter revenue of $4.83 billion, beating the estimates which sat around $4.43 billion. On the other hand, Microsoft shares fell around 5% despite posting strong results for the quarter. The company saw a profit of $2.48 per share on revenue of $51.73 billion, beating analyst expectations of $2.31 per share.
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.