On Wed, the US market did not rally; not until in the afternoon.
The moment Mr Powell confirmed the 0.25% interest hike, the market came alive and rallied like it never did.
By the time market closed, it was sweet redemption :
- DJIA : +0.02% (+6.92 to 34,092.96). Hardly excited by Mr Powell's announcement.
- S&P 500 : +1.05% (+42.61 to 4,119.21). Capped its best Jan performance since 2019
- Nasdaq : +2.00% (+231.77 to 11,816.32). Notched its strongest Jan in 22 years.
With a stellar performance like this, there's no need to check the Indexes' Moving Averages for today.
Will $Meta Platforms, Inc.(META)$ Emulate $Snap Inc(SNAP)$ Today ?
- On 31 Jan (Tue), Snap's Q4 2022 earnings report was less than ideal and the market was unrelentless is showing its displeasure.
- On 01 Feb (Wed), Meta's Q4 2023 earnings report was better than expected. More important, the $40 Billion stock buyback made the deal even sweeter.
- Will Meta coninue its rally today (a day after Q4 2022) or will it loose its steam and languish ?
How Will US Market Behave On 02 Feb 2023 ?
- Looking at US Pre-market indicators (above diagram) - Green mostly !
- Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Red & Red ! *Note: Will Bitcoin be able to break thru the $24,000 "ceiling" anytime soon ?
- Asia markets (ASX - Green !, Nikkei - Green !, KOPSI - Green !, HSI - Red !)
- EU markets - -(DAX -Green !, FTSE -Green !, CAC - Green !).
- Do you think Meta will continue to rally today ?
- Do you think US market will continue to rally another 2% today ?
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