The stock market closed higher on Thursday as December’s inflation eased. This raised hopes that the Federal Reserve can slow interest rate hikes.
Overall, S&P 500 rose 0.3% to 3,983, while NASDAQ grew 0.6% 11,001.
Tweet of the Day
Breadth has been strong since the 2104 net advances Dec 29, nine days ago. So strong, in fact, that the market needs only 380 net advances tomorrow to generate Breakaway Momentum and indicate that a full-fledged bull market is underway: https://t.co/LhCrAp5YaO. Stay tuned!
— Walter Deemer (@WalterDeemer) January 12, 2023
Chart of the Day
Our chart of the day is the ten-year chart of TJX Companies (TJX) as of December 21, 2022, when the stock was at $79.
TJX is the largest major international off-price retailer in the world, which operates in the U.S. since 1976, in Canada since 1990 (Winners), in the U.K. and Ireland since 1994 (where its stores are named as T.K. Maxx). TJX divisions include Marmaxx, HomeGoods/HomeSense, TJX Canada and TJX International.
TJX has been an all-time stock market winner as it soared from $0.05 to $79 since 1980. It is currently around a 10-12% grower that also pays a 2% dividend yield.
This is a well oiled machine that is a juggernaut in the world of fashion.
TJX is part of the Conservative Growth Portfolio.
