Company / Analytics

Analytics, 29 January 2023

Week 04 in brief

North America

It was yet another good week for Wall Street stocks as gains across different sectors drove all indexes to weekly gains. Most Notably, Tesla rose 33% in the week, following an 11% rise on Friday, to mark its best weekly performance since May 2013 and second best on record.

Other U.S.-based electric vehicle makers saw their shares climb higher. Rivian rose 22% during the week, while shares in legacy automakers Ford and General Motors each gained more than 7%. Rival electric car manufacturer Lucid spiked on Friday as well, rising 43% on reports of rumors that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, intended to take the company private.

How did the major indices perform?

On Friday:

For the week:

What drove the U.S. market?

What drove the U.S. market?

How did Asian markets perform?

Bonds and Commodities


Next week

Next week will be an eventful one, with big tech earnings, the U.S. labor market, and FOMC’s policy meeting taking center stage. We can expect earnings from some of the largest companies in the world, including big tech firms Apple, Google, Amazon, and Meta Platforms. ExxonMobil, Pfizer, UPS, McDonald’s, Caterpillar, Starbucks, and automakers Ford and General Motors will also report next week, among many others.

The latest reports on the labor market will arrive next week, including the December JOLTS report, ADP’s National Employment Report tracking private sector payrolls, and the January nonfarm payrolls report. The Federal Open Market Committee (FOMC) will gather for its first policy meeting of 2023, where it is widely expected to raise interest rates by 25 basis points.

We will also receive the latest updates on home prices, with the Case-Shiller National Home Price Index for November, as well as PMI readings from the Institute for Supply Management (ISM).

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