The Nasdaq gains over 280 points as tech stocks rally on Friday

Last Week Risers & Fallers:

• Nasdaq (US100) – The Nasdaq gained 288 points on Friday or 2.66%. Over 100 companies’ earnings reports coming out this week, amongst them are Tesla, Microsoft, and Boeing.

• Microsoft Inc. (NASDAQ: MSFT) – Microsoft stocks gained 3.57% on Friday after tech stocks rallied in light of upcoming tech earnings this week. The stock closed at $240.22.

• Goldman Sachs (NYSE: GS) – Goldman Sachs stock price fell 2.54% on Friday, closing at $341.84. Less favorable Q4 earnings report and a regulatory investigations into the bank’s consumer business caused the losses.

• Gold – Gold was up 0.20% on Friday and reached a daily high of 1,939.90.

Major events to watch:

• NZ (NZD): New Zealand Consumer Price Index (CPI) – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.  CPI was up 2.2%, better than the forecast of 1.6%.
  
  The report is due Tuesday, 24 January at 21:45 GMT

• CANADA (CAD): Canada Interest Rate Decision – Bank of Canada (BOC) governing council members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.  Canada’s interest rate is set to 4.25%.

The report is due Wednesday, 25 January at 15:00 GMT

• USA (USD): USA Gross Domestic Product (QoQ) – Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. US GDP improved to 3.2% versus the forecast of 2.9%.

The report is due Thursday, 26 January at 13:30 GMT

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