• Skip to main content
  • Skip to header right navigation
  • Skip to site footer
Bautis Financial

Bautis Financial

Secure your Castle, Achieve your Dreams.

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Market Recap Week of 1/17/2023 Through 1/20/2023

January 23, 2023 by Bautis Financial
Stock Market Recap

The S&P 500 index dropped for the first time in 2023 last week, posting a decline of 0.7%, as lackluster Q4 earnings results contributed to investors' fears of a recession.

The S&P 500 index lost 0.7% last week — the first such decline of 2023 — as lackluster Q4 earnings results contributed to investors‘ recession fears.

The decline comes as the Q4 earnings season is starting off with less-than-stellar results as companies grapple with the effects of both inflation and the Federal Reserve’s rate increases. Adding to investors’ concerns, executives at banks including JPMorgan Chase (JPM) have said they are adding to reserves to prepare for a recession.

Related: What is a Recession?

All but three of the S&P 500’s sectors fell last week. Industrials had the largest percentage drop, falling 3.4%, followed by drops of 2.9% each in utilities and consumer staples while financials slipped 2.1%. The three gainers were communication services, which rose 3%; and energy and technology, up 0.7% each.

This week’s earnings calendar features a number of heavyweight companies including Microsoft (MSFT), Johnson & Johnson (JNJ), Tesla (TSLA), Boeing (BA), Visa (V), Mastercard (MA), Intel (INTC) and Chevron (CVX).

Key economic reports due this week include the first estimate of Q4 gross domestic product on Thursday and the personal consumption expenditures price index, a closely followed inflation measure, on Friday.

Get instructions on how to enable our Flash News Briefing skill to your Amazon devices:

Bautis Financial’s Amazon Alexa Daily Flash News Briefing
Category: Finance News, InvestmentsTag: Market Recap, Market Trends, Stock Market, Stock Market Update, Weekly Market Recap
Previous Post: « The Divorce Money Guide Episode 139 – The Divorce Money Guide With Tracy Coenen
Next Post: #1 Rule to Remember When Markets Turn Volatile Remember THIS When Markets Turn Volatile »

Subscribe to Our Insights

Sign up to receive valuable financial insight and updates straight to your inbox each week.

Social

Follow along on social media

Contact

Bautis Financial
7 North Mountain Ave
Montclair, NJ 07042
Get directions
862-205-5800
Contact

Navigation

  • Schedule a Call
  • Podcasts
    • Agent of Wealth
    • Clear a Path
  • About
    • Our Approach
    • Our Team
    • Our Difference
  • Who We Work With
    • Individuals and Families
    • Small Business Owners
    • Retirees and Pre-Retirees
    • 401k Plan Sponsors
  • Insights
    • Blog
    • Business Valuation Advisor
    • College Planning Hub
    • Discover How
    • Learning Center
    • Risk Score
  • Client Access
    • Wealth Center
    • Orion

Copyright © 2023 · Bautis Financial · All Rights Reserved · Powered by Mai Theme

Return to top