HeatMap 31st Jan 2023 Great Green Day 

Check out today’s heat map:

Every sector closed green. Consumer discretionary (+2.29%) led, and utilities (+0.74%) lagged. 💚

In economic news, the employment cost index rose 1% in the fourth quarter, less than the 1.1% expected. It joins the growing group of inflation gauges that continue to trend lower. The housing market continues to cool, as the S&P Case-Shiller index experienced its fifth straight monthly decline in November, coming in at +7.7% YoY. And finally, the Chicago Purchasing Manager’s Index fell again in January, its fifth straight month in contraction territory. 🏭

Internationally, the eurozone’s Q4 GDP surprised to the upside, coming in at +0.1% vs. the -0.1% expected. European stocks also rallied sharply in January as optimism about the region’s economic outlook grew. And speaking of optimism…the International Monetary Fund updated this year’s outlook saying a global recession will probably be avoided. 🔺