Shesa's FEB/MARCH 2023 Investment Blog
FEBRUARY 2023 - INVESTMENT BLOG By Shesa Nayak U.S. Stock Market Commentary The stock market kicked-off with a bang in 2023. Nasdaq’s logged its best January gain since 2001, up 10.4% and S&P 500 saw its best January gain since 2019. Every major asset class finished higher in January, reversing declining trend from 2022. The falling dollar value and diminishing bond yield had resulted in a big rally in stock market because investors expected that federal reserve will stop rate hikes soon. The stock market was gaining nice momentum then came January jobs report which showed that payrolls (employment) increased by 517,000 , far higher than the 187,000 economists estimated and Unemployment fell to 3.4% lowest since 1969 , 53 years low despite the fact that technology sector has laid off over 100,000 people. So, after a spectacular January the job report further reignited fear that Federal Reserve will continue to hike rates longer than expected. Fed chair J...