Traders work on the floor of the New York Stock Exchange (NYSE) during morning trading on February 01, 2023 in New York City.
Michael M. Santiago | Getty Images
Here are the most important news investors need to start their trading day:
1. February heat check
Despite mixed economic signals, concerns that the Federal Reserve will keep rates high and an average earnings season, stocks have gotten off to a good start this year. The S&P 500 is up more than 7% at Monday’s open, while the Nasdaq, which posted the worst performance of the three major indexes last year, is on a five-week winning streak. This week, investors await Fed Chairman Jerome Powell’s speech before the Economic Club of Washington on Tuesday. After Friday’s stellar jobs numbers, Powell’s words this week will come under even closer scrutiny following his comments last week on “deflationary” signs in the economy. Reading live market updates,
2. What is there to earn
It’s been another big week for companies as fourth-quarter earnings season reaches its halfway point. While Big Tech dominated last week, this time there is a wider mix of companies from different industries. Once again, investors will be paying close attention to what companies expect from this year, as the economy grapples with high inflation and rising interest rates. Here are the major names reporting this week:
3. ‘Trending to breakeven’
Elon Musk, Chief Executive Officer of Tesla Inc., departs from court Tuesday, Jan. 24, 2023, in San Francisco, Calif.
Marlena Sloss | Bloomberg | Getty Images
Elon Musk told everyone on Twitter that he gone through bad times recently. “The past 3 months have been extremely difficult, as Twitter had to be saved from bankruptcy while fulfilling essential Tesla and SpaceX duties. Would not wish that pain on anyone,” he added. said in a tweet thread sunday. But, according to Musk, some of this hard work has paid off. He said Twitter, which has gone through massive job cuts and a rocky rollout of several initiatives since Musk took over in October, “trended to breakeven.” Musk didn’t provide any numbers to back up his claim, and Twitter is now a private company, so it’s not subject to the same disclosure rules it employed with Tesla. Instead, independent firms have had to figure out the details of Twitter’s financial well-being. so far, it hasn’t been great,
4. Hundreds died due to earthquake in Turkey
A destroyed building in Diyarbakir, Turkey, following the massive earthquake and aftershocks that struck Turkey and Syria on February 6, 2023.
Omer Yasin Ergin Anadolu Agency | Getty Images
A devastating earthquake It struck southeastern Turkey early Monday, leveling buildings and killing more than 1,000 people in the country as well as in northern Syria. The death toll is expected to rise as many people are missing. According to the Associated Press, the earthquake, which registered a magnitude of 7.8, was felt as far away as Cairo in Egypt. Adding to the complexity of the situation, the earthquake struck a region that has been shaped by the effects of a decade-long civil war in Syria, which has forced 4 million refugees into Turkey. A powerful aftershock Then Monday hit.
5. Beyonce sets record
LOS ANGELES, CALIFORNIA FEBRUARY 5: Beyonce attends the Crypto. (Photo by Robert Gauthier/Los Angeles Times via Getty Images)
Robert Gauthier | Los Angeles Times | Getty Images
Still, Beyoncé Was album of the year denied at the Grammy Awards on Sunday night, but that didn’t stop her from making history. The superstar who is about to embark on a headlining tour with Ticketmaster forced to demandNow has won 32 Grammy Awards, the most in history, surpassing the late conductor sir george solti, Beyoncé isn’t the only one making history at the Grammys this year. “The Woman King” star Viola Davis became the 18th person to do so ROUND OUT AN EGOT — which means she’s won an Emmy, a Grammy, an Oscar, and a Tony. (Harry Styles’ “Harry House” won album of the yearBy the way.)
— CNBC’s John Meloy, Ashley Capute and Lora Kolodny contributed to this report.
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