Wed 25 Jan 2023

Check out today’s heat map:

8 of 11 sectors closed green. Financials (+0.78%) led, and utilities (-1.35%) lagged. 💚

In economic news, Interest rates continue to drift lower ahead of next week’s Fed meeting. Up north, the Bank of Canada raised interest rates by another 0.25%, hinting that it may pause hikes for now. And Australia’s inflation rate hit a new 32-year high of 7.8% in the fourth quarter, reiterating that some countries are still struggling to subdue prices. 🌡️

People are more confident that companies are managing balance sheets correctly and OPEX, i expect a gradual greed coming back into the market.