HeatMap Tues 24 Jan 2023 

We are very near to the 200 DMA and together with the reduction in staff in a number of companies to tech index has marched forward.  The number of companies pairing staff is not set to stop anytime soon as the hire/fire mentality is still in a number of companies.

Look out for the tech companies that are hiring these sparse resources which will make it harder and more expensive for those companies that need to regain staff at a later stage.  They will have a plaque that says that they will not look after staff in good times and bad.

Check out today’s heat map:

6 of 11 sectors closed green. Industrials (+0.66%) led, and health care (-0.66%) lagged. 💚

In economic news, U.S. business activity contracted for the seventh straight month in January though at a moderating pace. The Richmond Fed index also showed a slight contraction in activity in January after notching a small gain in December. And in the eurozone, the purchasing managers’ index (PMI) rose to 50.2 in January, returning to growth for the first time in six months. 🏭