US indexes dropped yesterday
Yesterday, Tuesday 3 January, was the first trading day of the year.
All the US major indexes have closed in a loss.
The S&P 500 at -0.4%, the Nasdaq at -0.76% and the Dow Jones closed at -0.03%.
The worst-performing stocks
Tesla and Apple (NASDAQ:AAPL) have registered heavy losses yesterday.
The company owned by Elon Musk dropped 12.2%, which erases all the gains registered since Tesla joined the S&P in 2020.
Apple’s shares went down 3.7% on the first trading day of 2023 because there are concerns regarding the possible insufficient supply for this quarter.
The company's market capitalisation has dropped to under $2 trillion.
Today's important data to watch
The US Institute for Supply Management Manufacturing Purchasing Managers' Index (PMI) for December will be shared today at 3 pm GMT.
At 7 pm GMT, the Federal Open Market Committee (FOMC) will release December's meeting minutes.
Investors have all their eyes on it because it can give some clues on the 2023 outlook.
Markets can be volatile today due to the two above-mentioned important data.
Sentiment Indicator - Fear & Greed Index
The market sentiment is at 36 in the "Fear" mode which is higher than the level registered one week ago.
FedWatch Tool - FED rates probabilities
72.3% of investors are expecting the FED to increase the interest rates by 0.25% at the next meeting.
The remaining 27.7% are expecting a 0.50% rate increase.
No other options are considered at this time.
The next FED meeting is on 1 February 2023.
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Negative first trading day of the year for the US stock market
Published 04/01/2023, 13:01
Negative first trading day of the year for the US stock market
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