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January 29: Market Summary

S&P 500 hits record high

January 29, 2024

Jan 29, 2024

Good afternoon. Markets rally, Bitcoin climbs above $43,000, and the S&P 500 hits a record high.

Let's dive in.

Markets

Here are today's market moves:

What's Happening

  • U.S. stocks climbed on Monday to kick off a busy week.

  • The S&P 500 is at a record high for the first time in two years:

  • Investors will be watching Big Tech earnings this week. Microsoft, Google, Apple, Amazon, and Meta are set to report.

  • The crypto market climbed on Monday. Bitcoin is trading near $43k after the approval of spot Bitcoin ETFs.

Catch Up

  1. Microsoft has reached a $3 trillion market cap for the first time ever.

  2. The Federal Reserve is expected to hold interest rates steady on Wednesday.

  3. Around 20% of S&P 500 companies will report Q4 earnings this week.

What Else?