RiskReversal Recap: January 23, 2024

Is A Market Sell-Off Coming Soon?

Author

RiskReversal Media
January 23, 2024

Today’s MRKT Call is Presented by CME Group

Is A Market Sell-Off Coming Soon?

Dan Nathan and Guy Adami break down the top market headlines and bring you stock market trade ideas for Tuesday, January 23rd.

Topic Timecodes:
Market Breadth (0:00); Tesla ($TSLA) (10:30); Rate Expectations (14:20); Procter & Gamble ($PG) (16:35); Verizon ($VZ) (19:45); Homebuilders (22:00); SPX & NDX (25:00); Crude Oil (29:45)

Click here to view all of the charts mentioned in today’s show.

“As of January 19th, $NVDA and $MSFT had accounted for about 75% of the S&P 500's gain this year, while the 20 largest stocks in the index accounted for 110% of the index's upside move. The remaining ~480 stocks were acting as a drag.” - Bespoke Investment Group

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WHAT WE’RE READING

  • Check out the CME FedWatch Tool 

  • Goldman Says Momentum Traders to Sell Stocks in ‘Every Scenario’ (Bloomberg)

  • Large Stocks Celebrate Record While Small Caps Remain Mired in Bear Market (CNBC)

  • J&J, P&G, GE, 3M, Verizon, Defense Contractors Report Earnings (WSJ)

  • D.R. Horton Slides Most Since 2020 After Miss on Home Orders (Bloomberg)

  • Apple Dials Back Car’s Self-Driving Features and Delays Launch to 2028 (Bloomberg)

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