The 'January barometer' ('As goes January, so goes the year') is the tendency for the January performance to forecast performance for the rest of the year.
The so-called January Barometer starts 2023 positive with the S & P 500 up 4.6% to start the final trading day of the month. If it ends here, it's the first up January since 2019 and a good start to the year psychologically. The "January barometer" is the tendency for the January performance to forecast performance for the rest of the year. The "Stock Trader's Almanac" says it's only had 12 significant errors in 72 years. Not a bad track record .
You can see the influence of higher prices on the revenue beats we saw Tuesday morning: Caterpillar, General Motors, Marathon Petroleum, McDonald's, Pulte, all reported revenues above expectations. However, the trend is not uniform. Several companies reported revenues that were lower than expectations. On the aggregate, revenues are not as impressive as they initially seem.
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