Market Recap – January 6th 💰

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Market Recap – January 6th

The markets had a great day, gaining ground to end the opening rally of 2023. After a down day on Thursday, the market closed Friday with the S&P 500 up 2.28%, the Dow Jones up 2.13%, and the NASDAQ up 2.56%.

After a December jobs report calmed investors, we have seen that fears of a large rate hike have quelled among the public, bolstering the rally on Friday. Despite this, XPeng fell by 15.04% along with the rest of the Chinese EV market because of Tesla cutting their prices in China, which would place Tesla ahead of them while demand is decreasing. On a more positive note, WWE rose by 16.98% to $84.27 as former CEO Vince McMahon returned to lead the company. It’s not often we mention a company like WWE, but they are now at their highest point since 2019, which creates an interesting investment opportunity.

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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