S&P 500 Index (SPX) - Daily Chart - Jan 3-31, 2023 (Source: Tradingview)

January 3

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• Stocks started the year diving into the red then climbing back above session lows. 
• The Dow dipped a minuscule 11 points while the S&P sunk 0.40% and the Nasdaq suffered a 0.70% decline. 
• Large tech industries such as Apple and Tesla weighed down stocks with the tech giant’s market cap falling just below two trillion dollars. 
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January 4

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• Wall Street ended the session in green territory after a choppy trading day. 
• The Dow ended at a 133-point gain after a 270-point high, the Nasdaq gained 0.48%, and the S&P went up 0.75%.
• The seasonal “Santa Claus Rally” has come to town with the S&P rising 8% over the last five days of 2022 and the first two days in 2023. 
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January 5

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• The Market declined for the day but managed to veer from session lows. 
• The Dow drifted 340 points lower while the S&P and Nasdaq fell 1.17% and 1.59%, respectively. 
• A higher-than-expected ADP private payrolls report started an early sell-off fueled by consumer fears that the jobs market may be too hot and that the Federal Reserve will take action against it. 
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January 6

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• Stocks managed to wipe out losses, bringing Wall Street back into the green this week. 
• The Dow soared 700 points and the Nasdaq rose 2.78% while the S&P broke a 4-day losing streak with a 2.28% gain. 
• While the unemployment rate fell to 3.5%, Wage growth was below expected at 4.6%, a key factor to this positive trading session.
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January 9 

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• Losing steam after a strong rally, markets were mixed while heading into the session close. 
• The S&P slid 0.08%, the Dow fell 113 points after a 300-point high, but the Nasdaq was 0.63% in the green.
• An early morning rally caused by the previous week’s most successful run since November turned sour when Atlanta Federal Reserve President Raphael Bostic said that the Fed is willing to overshoot while raising interest rates this coming year. 
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January 10 

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• Wall Street closed at session highs, persevering through a choppy trading day. 
• The Dow traded 186 points up and S&P stocks gained 0.70% while the Nasdaq rose 0.88%.
• Optimism over cooling inflation fuels a tech-heavy Nasdaq rally; meanwhile, market bulls celebrate as billionaire investor Paul Tudor Jones soundly told CNBC that the Federal Reserve knows when to hit the brakes in regards to keeping the economy stabilized. 
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January 11

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• Modestly rebounding, major averages managed to close near session highs with the Dow 269 points in the green, the S&P up 1.28%, and the Nasdaq 1.76% higher. 
• Investors look forward to an upcoming CPI reading which many people hope will show further signs of easing. 
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January 12

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• Stocks ticked higher this trading session with CPI readings falling right in with positive expectations.
• Dow stocks were up 217 points while both the S&P (+0.34%) and Nasdaq (+0.50%) were dealt modest raises.
• A positive CPI reading paints the story of cooling inflation in the market, strengthening a case of lower interest rates by the Federal Reserve.

January 13

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• Stocks drift higher into the week’s close, setting a second positive week for the market. 
• The Dow rose by 112 points and the S&P gained 0.40% while Nasdaq stocks went up 0.71%. 
• Due to loan loss provisions slightly easing, a significant reversal in bank stocks helped the broader market come back from a lackluster start to the day’s trading session
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January 17

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• Stocks traded tightly after a holiday weekend with Dow stocks falling 391 points and S&P stocks slipping 0.20% while Nasdaq stocks were able to eke out a slight winning of 0.14%.
• Banking giant Goldman Sachs posted a big earnings miss, which weighed the Dow down for the day. 
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January 18

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• Ending off on a low note for the day, stocks sold off, continuing a negative streak for the S&P and the Dow. 
• Dow stocks lost 614 points and the S&P sold 1.56% lower while the Nasdaq fell 1.27%. 
• A hopeful belief among investors that the economy will slow down at a moderate pace is threatened by retail sales and industrial production reports falling well below expectations.
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January 19

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• Stocks continue to be pressured by continuing unease of economic expansion under rising interest rates. 
• The Dow pulled back 252 points, the S&P fell 0.76%, and the Nasdaq was 1% in the red.
• A disappointing housing starts report paired with more Federal Reserve officials saying that they are still planning to raise rates to bring even more unease into the markets and its investors.
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January 20

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• Despite a positive end to the week, the Dow and S&P faced their first negative week for the month. 
• Dow stocks rose 331 points and S&P went up 1.89% while the Nasdaq increased an impressive 2.89% to wrap up the week.  
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January 23

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• A joyous jump for Wall Street starts the last week of January with the Dow rising 254 points, the S&P up 1.19%, and the Nasdaq 2.18% in the green. 
• Investors continue to pump money into the market in hopes that interest rates might be peaking despite signs that the economy is more perseverent than people thought it would be.
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January 24

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• The week continues as the market gets mixed into the close of today’s trading session. 
• The Nasdaq fell 0.22% and the S&P slid 0.07% while the Dow eked out a 104-point gain for the day. 
• The New York Stock Exchange faced some technical difficulties at the opening which in turn affected some big names in the market. 
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January 25

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• Wall Street manages to rebound from a weak start from a considerably tight point to the session close.
• The Dow was able to rebound from a 461-point loss and end 9 points in the green and the S&P lost merely 0.02% while Nasdaq stocks were down 0.27%.
• Microsoft heavily weighed on the markets as it beat both revenue and earnings estimates but shared a gloomy revenue forecast.
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January 26

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• Thursday continues a green streak for stocks as the Dow continues a five-day streak and the Nasdaq approaches a positive fourth week in a row.
• The Dow rose 205 points while the S&P and Nasdaq gained 1.10% and 2% respectively. 
• The culprit for the prosperity of tech stocks for the session was a big Tesla rally that sparked due to beating both profit and revenue forecasts despite mixed analyst sentiments concerning profit margins for the future. 
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January 27

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• A powerful rally wrapped up Wall Street’s week as the Dow drifted 28 points higher, the S&P rose 0.25%, and the Nasdaq sold 0.96% higher. 
• A reasonably tamed inflation print soothed the minds of investors as PCE reports seemed in line with the estimates which paints a picture of easing inflation. 
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January 30

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• Markets rallied to kick of the week and to end the best January performance since 2019.
• The big story for this week is the FOMC announcement.
• Wall Street is expecting the Fed to continue slowing the rate of its rate hikes as inflation appears to be easing.
• Fourth quarter GDP came in stronger than analysts had expected, lending to the narrative of a strong market and possibly “rolling recession” which impacts sectors on an incremental basis versus plunging all sectors at once. This could be the “soft landing” that the Fed had initially set out to do.
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January 31

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• Markets build on strong January gains with the Dow jumping over 200 points, the S&P advancing nearly 1%, and the Nasdaq adding just over 1%.
• Corporate earnings season continued on Wall Street and investors are closely watching company guidance for indications on consumer spending expectations in the coming quarter.
• Wall Street awaits tomorrow’s Fed interest rate decision due. Most investors expect a 25 basis point increase, and they’ll be sure to monitor Fed comments for clues into how much further the Fed may hike, or if and when it plans to cut rates.
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