U.S. Stocks
Fundamental Analysis:
The U.S. stock market’s S&P 500 index closed slightly lower on Tuesday, 24th January 2023, with intraday movement shaky as corporate results were mixed.
A group of stocks listed on the New York Stock Exchange halted trading at the opening bell due to an apparent technical glitch, which caused initial price confusion and prompted an investigation by the U.S. Securities and Exchange Commission (SEC).
More than 80 stocks were affected by the glitch, which led to sharp opening price swings for dozens of stocks, including Wal-Mart and Nike.
Economic data showed that manufacturing and services contracted less than expected in the first few weeks of the year, suggesting that the Federal Reserve’s restrictive interest rates are dampening demand.
Among the 11 major sectors of the S&P 500, industrial stocks had the largest percentage gains, while communication services stocks had the largest declines.
Technical Analysis:
(Dow 30, 1-hour chart)
Execution Insight:
The Dow today pays attention to the 33584-line. If the Dow runs stably above the 33584-line, then pay attention to the suppression strength of the 33949 and 34221 positions.
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