Welcome 2023! I feel rejuvenated after slacking for a couple of days in the holiday season. This year has already begun with fireworks as Tesla missed its delivery target and there were news articles about Apple cutting production of some of its products perhaps due to drop in demand. Gold prices seem to be going up (this might be good for stocks such as NEM, GOLD etc.) perhaps reflecting that gold is back in the vogue as a safe haven. I think we will need to see how the companies did in Q4 based on their quarterly results and how they view Q1 (based on their guidance), to gauge the state of the economy. In any case, I think that until the Federal Reserve signal completion of interest rate hikes, markets will continue to remain volatile so I'll remain cautious. Today was no different in that December's manufacturing index showed steeper than expected decline. All three major US indices finished the day in mild red.
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