Market Recap – January 4th
US stocks rose in a volatile session on Wednesday as investors responded to a series of economic data releases and anticipated the release of minutes from the Federal Reserve’s December policy meeting. The S&P 500 increased by 1.2%, the Dow Jones Industrial Average rose by 0.7%, and the Nasdaq Composite increased by 1.1%.
Looking at specific investments, we’re watching Salesforce and Microsoft. Salesforce announced a restructuring plan that includes cutting 10% of its workforce and reducing some office space, causing shares of the cloud-based software company to increase by more than 3%. Microsoft’s stock fell by 4% after UBS downgraded it from a “buy” to a “neutral” rating due to concerns about the risks associated with the Office and Azure businesses.
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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.