美帝股评 US Market Summary 20230131

*US equities fall on tech-led slump ahead of Fed decision*

*31 January 2023*
Nasdaq 100 Index 11912.39, (-2.09%)↓
S&P 500 Index 4017.9, (-1.29%)↓
Dow Jones Indus Avg Index 33717.09, (-0.77%)↓

US shares fell as investors turned cautious ahead of Big Tech earnings and the Fed's interest rate decision later this week. The *Nasdaq* had its worst day since December 22, while the *S&P 500* fell the most since January 18. The *10-year Treasury yield* rose to around 3.54%. 10 of 11 sectors ended in the red, with *Consumer Staples* the sole sector in the green, as *Energy* and *Info Tech* led shares lower. The *VIX (+9.02%)* increased to 20.20.

All eyes will be on the *Fed's interest rate decision this Thursday, at 03:00 Singapore time*; where a 25bps hike is widely expected. Investors will be scrutinizing *Fed Chair Jerome Powell’s post policy meeting press conference at 03:30 Singapore time* for any hints on the future path of rate hikes. Focus will then shift to *Nonfarm Payroll data set to be released Friday, 21:30 Singapore time*.

*Big Tech* earnings due later this week will set the tone for markets, *Apple (-2.01%), Alphabet (-2.45%), Amazon (-1.65%), and Meta (-3.08%)* all slumped. Semiconductor stocks also fell, as *Advanced Micro Devices (-3.91%)* dropped ahead of its earnings due today. *Johnson & Johnson (-3.70%)* sank after the federal appeals court rejected the company's effort to shift its lawsuits regarding its baby powder products into bankruptcy court. *Ford Motor (-2.86%)* retreated on demand concerns after the company announced price cuts for its EV Mustang Mach-E. *SoFi Technologies (+12.46%)* surged after the financial services company reported a narrower than expected loss and forecasted turning profitable in Q4 2023.