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.
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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.