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Market Update Newsletter 1/19/23

Markets dropped hard yesterday, with all indexes down over 1% including Bitcoin which is back below $21k. Futures are lower.


JP Morgan CEO Jamie Dimon says interest rates will go even higher because of underlying inflationary pressures. A slight recession is still on the table.


Microsoft (MSFT) plans to lay off 10k employees, continuing the trend of tech layoffs.


Netflix (NFLX) is expected to report the slowest quarterly revenue growth EVER today.


Stocks to Watch


Proctor & Gamble (PG) reports today, as a consumer staple, the company is expected to perform favorably in uncertain economic conditions. Largest consumer packaged goods company in the world. Stock EX-Dividend day is today, meaning if you buy it today you will receive the next dividend distribution.


Roblox (RBLX) is down 6.7% after receiving a downgrade to underweight by Morgan Stanley, citing that the stock price has peaked.


Chegg (CHGG) gained in premarket after upgrade to overweight by KeyBlanc, citing potential EBITDA upside.


Happy Investing!

The Punkrock Capitalist

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