Tuesday's Market Update (Jan 17, 2023)
At Tuesday, with NASDAQ barely moving (o: 11070, c: 1195) and BTC lingering roughly where it was three days ago (o: 21235, c: 21390), traders appeared to be just hanging out there waiting for Wednesday's PPI. Meanwhile, NY Fed's general business conditions index fell to -32.9 in December (-11.2 in Nov) - the largest decline in two years.
Substantial reductions are seen in new orders and shipments. Also, employment growth stalled across 200 surveyed companies.
The index, which shows the difference between "increase" and "decrease" responses in percentages, almost certainly won't bulge the FED at Jan 31, but might have been priming the pump a bit for bulls at Jan 17.