Market Recap – January 13th 💰

Market Recap – January 13th

After what looked to be a rough period of trading to end the week, the markets rebounded from a morning slump to head into the long positive weekend. We saw a sharp downturn in the morning hours, but the recovery seemed to signal positive investor sentiment in the days following the December CPI report. The market closed with the S&P 500 up 0.40%, the Dow Jones up 0.33%, and the NASDAQ up 0.71%.

Due to midday market swings, we didn’t see many big winners or losers, but some stocks did outperform. Wendy’s, for one, rose by 5.97% following an earnings report that excited investors. Sales grew faster than expected, and the board announced they will double the dividend they give to investors in coming quarters. Some stocks underperformed too, including Rivian who fell by 6.43% to $16.45 along with the broader EV market due to Tesla’s price cuts. These price cuts have changed the outlook for the industry in the future, and other companies must adapt now.

Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!

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.

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