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- What happened to the rate cut? Not March Jan 30th Stock market update
What happened to the rate cut? Not March Jan 30th Stock market update
$MANH $ARVN
Mukund Mohan
January 31, 2024
Market
"Based on the meeting today, I would tell you that I don't think it's likely that the committee will reach a level of confidence by the time of the March meeting to identify March as the time to do that. But that's to be seen," Jerome Powell said.
All indices took a break, with NASDAQ leading the way down
After decent earnings from Google and Microsoft and a weak forecast from AMD, the market focused on Fed and learning that there would be no interest rate cut in March, headed for a much needed break lower.
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It was red in all sectors, with Communications and Tech leading the way
Novo Nordisk $NVO continued its climb after good earnings, and Make My Trip $MMYT is heading in the right direction after their strong earnings a few days ago.
Video of the day
Today’s video is on a networking leader in the AI world - Arista Networks $ANET
Deep dive of the day
Today’s writeup is on FIGS a scrubs and healthcare apparel company.
Good setups for swing
MANH is setting up well for a move LOWER first to $220 and then back to $250
$ARVN 1 month breakout to $50s by earnings Feb 26