Monday Market Must-Knows: January 30, 2023
The upcoming trading week isexpected to be even more exciting than last week, with 531 companies reportingearnings this week including: Pfizer, Caterpillar, General Motors, UPS,McDonald's, Apple, Amazon, Google, Qualcomm, Ford, Bristol-Myers Squibb, andStarbucks.
These three companies (Apple, Amazon and Google) make up 26% of the NASDAQ 100.This means that if any of them have a bad day, it could cause the NASDAQ todrop, and if their earnings are strong, it could cause the NASDAQ to soar.Investors should be cautious and pay attention to these reports.
Additionally, the Federal Reserve will have an announcement on Wednesday at 2pm EST and the press conference afterwards is expected to cause significantmarket movement. Other central banks like the Bank of England and the EU willalso be reporting.
Jerome Powell, the chairman of the Federal Reserve, has previously mentionedthat the unemployment rate is expected to take a hit and that markets shouldexpect some pain.
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