Wednesday, 18 January 2023

S&P 500 posts worst day in more than a month, Dow closes 600 points lower

MORNING SQUAWK

APAC

Wednesday January 18 2023

AS OF THU, JAN 19, 2023 • 09:06 ET

S&P 500 Close		3,928.86
		-1.56%	-62.11

S&P 500 Futures		3,941.75
		-0.10%	-4.00

10-Year Treasury		3.371%
		0.00%	-0.004

S&P 500 posts worst day in more than a month, Dow closes 600 points lower

Stocks' January rally lost steam on Wednesday, with the Dow sliding more than 600 points.

Wholesale prices fell 0.5% in December, much more than expected; retail sales fall

The producer price index was expected to decrease 0.1% in December, according to Dow Jones estimates.

Microsoft is laying off 10,000 employees

Microsoft said it's letting go of 10,000 employees and taking a $1.2 billion charge as the software maker braces for slower top-line growth.

China's economy will be 'on fire' in the second half of 2023, StanChart chairman says

China's economy will be "on fire" in the second half of 2023 as the economic performance of East and West diverges, according to Standard Chartered Chairman José Viñals.

Morgan Stanley's Slimmon says stocks will surprise Wall Street in 2023 — and names two he likes

Morgan Stanley's Andrew Slimmon says he believes stocks are going to do "far better" than most expect this year.

TODAY'S GUEST HIGHLIGHTS ON CNBC

All times in SIN/HK

08:30

Selena Ling

Chief Economist & Head of Treasury Research & Strategy, OCBC Bank

ASEAN Economy Outlook

11:00

James Thom

Senior Investment Director, Asian Equities, Abrdn

Asian Market Outlook

13:00

Mehvish Ayub

Senior Investment Strategist, State Street Global Advisors

Global Market Outlook

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