The stock market closed higher on Tuesday as investors focus on a fresh set of corporate earnings for insights on the health of the US economy.
Overall, S&P 500 was up 0.3% to 4,865, while NASDAQ grew 0.4% to 15,426.
Tweet of the Day
Everything you need to know about $AMD, in 8 bullet points.
1. $AMD's rise over the last decade has been the result of the company betting on chiplets. Chiplets consist in making a chip out of many small chips, instead of making a big one (monolithic) directly like $NVDA does.…
— Antonio Linares (@alc2022) January 18, 2024
Chart of the Day
Here is the one-year chart of S&P Global (SPGI) as of December 20, 2023, when the stock was at $428.
S&P Global’s performance continued to improve last quarter, with accelerated revenue growth across all divisions. Leading the way was the Ratings division with 20% revenue growth due to bank loan refinancing and a better high yield market. New products are driving growth at S&P Global. The Vitality revenue metric, representing new product contributions, accounted for 12% of total revenue with 22% year-over-year growth. Overall, profits increased just 10% year-over-year with revenue up 11%. Growth, however, should accelerate further in 2024. Analysts expect 14% profit growth in 2024, but the company might do even better as growth just accelerated.
SPGI is part of the Conservative Growth Portfolio.
