![]() Of the five instances in which the S&P gained more than 5% in January after a negative year, the benchmark index rose 30% for the year on average, said Carson Group's Ryan Detrick in a tweet. The Nasdaq Composite added 10.7% this month for its best monthly performance since July.Ī solid January could be a good sign for the market, and potentially foreshadow a continued uptick in the months that follow. The S&P 500 and Dow gained 6.2% and 2.8% in January in their third positive month in four. Traders widely expect a quarter-point increase in rates by the Fed, but they are hoping softening inflation will cause Chairman Jerome Powell to signal a pause in tightening in the near future. It was below the 1.1% estimate from Dow Jones. The employment cost index, which is an important measure of wages eyed by the Fed, showed compensation increased 1% in the fourth quarter. Investors on Tuesday got bullish news on the inflation front before the Federal Reserve's latest decision on interest rates. Shares of Exxon Mobil also rose nearly 2.2% following earnings. PulteGroup shares surged 9.4% after the homebuilder reported better-than-expected earnings. General Motors shares jumped about 8.4% after the auto manufacturer posted strong earnings. ![]() Traders assessed how some of the largest firms are faring amid high inflation and fears of slowing consumer spending. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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