Jan 18, 2023: Yesterday and today pre-market were RISK-ON. What happened?

By Jeffrey Cohen
US Advanced Computing Infrastructure, Inc.

It looks like the entire market is falling today. The US equities market was trading higher in the morning, but economic news was negative. Now, we see long-duration bonds trading higher, and stocks falling.  Gold is flat to down slightly.

What is interesting is that up until the poor economic news from the US Commerce Department the highest-BETA stocks were trading higher. Now, everything is falling.

Good luck in the markets. Looks like we are easily maintaining our ~4,000 S&P 500 Index range for another few days.