US Open: Wall Street partially recovers losses after Fed decision 📌

15:08 1 February 2024
  • Wall Street opens higher after yesterday's declines
  • Market tries to adjust prices post-Fed conference

US markets open higher following yesterday's end-of-session drops. Jerome Powell's more hawkish stance caused declines in risky assets and a rise in the dollar's value. The Fed clearly communicated that a rate cut in March is not on the table, contrary to some speculations.

Despite the hawkish tone, the market reaction is limited. Today, we see that the declines are not continuing, and the dollar's appreciation is somewhat slowing. On one hand, the Fed indicated no initial cuts in March, but on the other, it confirmed a willingness to cut rates this year and begin QT (Quantitative Tightening). Today, on US500 and US100, we observe increases of 0.30-0.40%. The dollar has slowed its gains from the first part of the day and is no longer the strongest currency. Meanwhile, the yields on 10-year Treasury bonds have dropped to even 3.87%.

Start investing today or test a free demo

Open account Try demo Download mobile app Download mobile app

US500

US500 retreated from around 5000 points. This psychological barrier will be extremely tough to overcome. After Jerome Powell's conference, the index price dipped below 4900 points and remains in this zone up to the present moment. The first support from below is the 4830-4840 point level.

Source: xStation 5

 

Company News

AMD (AMD.US) has raised its artificial intelligence-related revenue forecast for this year to $3.5 billion, up from the previous $2 billion estimate. Citi analysts, however, believe AMD is deliberately underestimating and expect the company to generate around $5 billion this year and $8 billion next year from the MI300. AMD CEO Dr. Lisa Su is confident in exceeding the $3.5 billion mark, citing potential upside.

Source: xStation 5

Microsoft (MSFT.US) and Meta (META.US) are reportedly the biggest customers for the MI300, with average selling prices ranging from $10,000 to $15,000. Despite weaker-than-expected guidance causing a sell-off in AMD shares on Wednesday, Citi notes multiple opportunities for AMD to improve gross margins, including growth in its Xilinx business and the MI300 ramp-up.

J.P. Morgan upgraded AT&T (T.US), expecting consistent, long-term growth in its wireless and broadband sectors, particularly due to potential in its broadband segment and ongoing fiber buildout. The firm raised its rating to Overweight from Neutral, with a year-end price target increased to $21 from $18. AT&T.

Source: xStation 5

Altria (MO.US) rose over 1.8% following the announcement of a new $1 billion share buyback plan. The tobacco giant reported Q4 2023 adjusted earnings per share in line with expectations, but saw a 2.2% year-over-year revenue decline, mainly due to a decrease in its smokeable products segment, partly offset by growth in oral tobacco products.

Honeywell (HON.US) fell 4.5% due to a Q4 2023 revenue miss and 2024 sales forecast below expectations. The adjusted profit per share guidance midpoint for 2024 was also lower than estimates. Despite this, CEO Vimal Kapur expressed confidence in Honeywell's positioning for 2024, citing automation, the future of aviation, and energy transition as key growth drivers.

Plug Power (PLUG.US) stock surged over 15% after the company announced the completion of the first fill of a Plug tanker with liquid green hydrogen at its Georgia plant.

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Back

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol Expiration date 17 October 2024
adobe_unique_id Expiration date 16 October 2025
test_cookie Expiration date 1 March 2024
SESSID Expiration date 9 September 2022
__hssc Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024
intercom-id-iojaybix Expiration date 13 July 2025
intercom-session-iojaybix Expiration date 23 October 2024
xtbCookiesSettings Expiration date 16 October 2025
xtbLanguageSettings Expiration date 16 October 2025
TS5b68a4e1027
countryIsoCode
userPreviousBranchSymbol Expiration date 16 October 2025
TS5b68a4e1027
_cfuvid
intercom-device-id-iojaybix Expiration date 13 July 2025
__cfruid
__cf_bm Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024
_cfuvid
adobe_unique_id Expiration date 16 October 2025
TS5b68a4e1027
_cfuvid
xtbCookiesSettings Expiration date 16 October 2025
SERVERID
TS5b68a4e1027
__hssc Expiration date 16 October 2024
test_cookie Expiration date 1 March 2024
intercom-id-iojaybix Expiration date 13 July 2025
intercom-session-iojaybix Expiration date 23 October 2024
intercom-device-id-iojaybix Expiration date 13 July 2025
UserMatchHistory Expiration date 31 March 2024
__cf_bm Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024
__cf_bm Expiration date 16 October 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid Expiration date 9 September 2022
_gat_UA-22576382-1 Expiration date 8 September 2022
_gat_UA-121192761-1 Expiration date 8 September 2022
_ga_CBPL72L2EC Expiration date 16 October 2026
_ga Expiration date 16 October 2026
AnalyticsSyncHistory Expiration date 8 October 2022
af_id Expiration date 31 March 2025
afUserId Expiration date 1 March 2026
af_id Expiration date 1 March 2026
AF_SYNC Expiration date 8 March 2024
__hstc Expiration date 14 April 2025
__hssrc
_vwo_uuid_v2 Expiration date 17 October 2025
_ga_TC79BEJ20L Expiration date 16 October 2026
_vwo_uuid Expiration date 16 October 2025
_vwo_ds Expiration date 15 November 2024
_vwo_sn Expiration date 16 October 2024
_vis_opt_s Expiration date 24 January 2025
_vis_opt_test_cookie
_ga Expiration date 16 October 2026
_ga_CBPL72L2EC Expiration date 16 October 2026
__hstc Expiration date 14 April 2025
__hssrc
_ga_TC79BEJ20L Expiration date 16 October 2026
af_id Expiration date 31 March 2025
afUserId Expiration date 1 March 2026
af_id Expiration date 1 March 2026
AF_SYNC Expiration date 8 March 2024
_gcl_au Expiration date 14 January 2025
AnalyticsSyncHistory Expiration date 31 March 2024
_gcl_au Expiration date 14 January 2025

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID Expiration date 10 November 2025
_omappvp Expiration date 28 September 2035
_omappvs Expiration date 16 October 2024
_uetsid Expiration date 17 October 2024
_uetvid Expiration date 10 November 2025
_fbp Expiration date 14 January 2025
fr Expiration date 7 December 2022
muc_ads Expiration date 16 October 2026
lang
_ttp Expiration date 10 November 2025
_tt_enable_cookie Expiration date 10 November 2025
_ttp Expiration date 10 November 2025
hubspotutk Expiration date 14 April 2025
YSC
VISITOR_INFO1_LIVE Expiration date 14 April 2025
hubspotutk Expiration date 14 April 2025
_uetsid Expiration date 17 October 2024
_uetvid Expiration date 10 November 2025
_ttp Expiration date 10 November 2025
MUID Expiration date 10 November 2025
_fbp Expiration date 14 January 2025
_tt_enable_cookie Expiration date 10 November 2025
_ttp Expiration date 10 November 2025
li_sugr Expiration date 30 May 2024
guest_id_marketing Expiration date 16 October 2026
guest_id_ads Expiration date 16 October 2026
guest_id Expiration date 16 October 2026
MSPTC Expiration date 10 November 2025
IDE Expiration date 10 November 2025
VISITOR_PRIVACY_METADATA Expiration date 14 April 2025
guest_id_marketing Expiration date 16 October 2026
guest_id_ads Expiration date 16 October 2026
guest_id Expiration date 16 October 2026
muc_ads Expiration date 16 October 2026
MSPTC Expiration date 10 November 2025
IDE Expiration date 10 November 2025

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id Expiration date 16 October 2026
UserMatchHistory Expiration date 8 October 2022
bcookie Expiration date 16 October 2025
lidc Expiration date 17 October 2024
lang
bscookie Expiration date 8 September 2023
li_gc Expiration date 14 April 2025
bcookie Expiration date 16 October 2025
lidc Expiration date 17 October 2024
bscookie Expiration date 1 March 2025
li_gc Expiration date 14 April 2025
personalization_id Expiration date 16 October 2026

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Language