Market Recap – February 1st
On Wednesday’s trading day, markets continued to rise off of the suspected 25 basis point hike and Fed Chair Jerome Powell’s press release on the state of the economy. All three major indices saw positive gains as investors seemed hopeful that the Fed will pause rate hikes soon and earnings will continue to show promise. The S&P 500 rose 1.05%, the NASDAQ Composite went up 2.00%, and the Dow Jones inched higher by 0.02%.
After a stellar earnings report, shares of AMD rose 12.63% as investors favored their market maneuverability much better than Intel’s. Not all market news was positive, as shares of Electronic Arts plummeted 9.26% following earnings that missed analysts’ expectations.
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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.