Stocks Settle Higher As Investors Cling To Optimism

Stocks jumped back into positive territory this afternoon, with the Dow adding more than 186 points and the Nasdaq scoring a third-straight win, despite U.S. Federal Reserve Chairman Jerome Powell dodging the topic of economic policy in his latest remarks. Powell noted that restoring price stability may "require measures that are not popular," though. Investors are optimistic about what the rest of the year may bring, after the S&P 500 demonstrated some strength over those first five trading days -- usually a good omen for Wall Street. 

Closing Index Summary January 102023

NYSE and Nasdaq Stats January 102023

Earnings January 102023

 

Unusual Options Activity January 102023


OIL PRICES STRING 4TH CONSECUTIVE WIN

Oil prices scored their fourth consecutive gain on Tuesday, thanks in part to increasing economic optimism surrounding China and the euro zone. Plus, an Energy Information Administration (EIA) report showed record expectations for consumption of liquid fuels next year. February-dated crude rose 49 cents, or 0.7%, to settle at $75.12 per barrel.

Meanwhile, gold prices settled lower despite yesterday scoring their best settlement since May. Traders are currently looking to the consumer price index (CPI) reading for December. February-dated gold rose $1.30, or roughly 0.1%, to settle at $1,876.50 per ounce.


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