January 29, 2024
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Dow Jones Analysis & Us market overview for 29 January2024
Stocks are little changed
Stocks were little changed Monday as Wall Street looked toward several mega-cap tech earnings reports and the Federal Reserve’s rate policy decision.
The Dow Jones Industrial Average and the S&P 500 hovered near the flat line. The Nasdaq Composite added 0.1%.
Meanwhile, the Federal Open Market Committee will begin its two-day policy meeting on Tuesday. Investors are nearly certain the central bank will keep rates steady. Traders in the fed funds futures market assigned an almost 97% probability the Fed will not cut rates at the upcoming meeting, according to the CME Group.
“This week could be key,” said Chris Larkin, head of trading and investing at E-Trade. “If the market is going to sustain its latest breakout, it may need to avoid earnings disappointments from this week’s Big Tech lineup, get encouraging news from the Fed on interest rates, and see jobs numbers that are solid, but not too hot.”
Dow Jones Industrial Average Overview
About DJIA:
The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes.
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