Week of 01/16-01/20 Goldman Sachs bring down the green streak but Netflix and Alphabet bring it back

01/17/2023 - Four-day bull rally snapped today as Goldman Sachs reports quarterly earnings and leaves investors with more questions than answers. Goldman announced the worst fourth quarter in a decade as shares slid over 6%. Morgan Stanley report better than expected earnings results but it is not enough to keep the market green.

01/18/2023 - SPY drops over 6-points intraday due to retail sales report falling below expectations for December.

01/20/2023 - The market finished the week green with an intraday rally of around 7 points for the SPY, bringing back the potential to break the 400point level. Netflix and Alphabet Google report better than anticipated earnings, helping the market edge higher to end a volatile week. Job cuts by big tech continue as they come down to reality growth expectations after the rapid pandemic surge. Google, Microsoft, Amazon, Spotify, Meta, and Twitter are some of the few names that are laying off employees and cutting bank on spending. After the FTX collapse, crypto related exchanges such as Coinbase, Crypto.com, and Robinhood have been affected by job cuts and restructuring plans. As much as we would like to see the market continue to rally, the overall outlook for the market does not look great and we can only hope to not see another bull run quickly fail.