The Gilmo Report

January 30, 2019

January 30, 2019

The market got off to a raucous start this morning thanks to what were perceived as favorable earnings reports from Boeing (BA) and Apple (AAPL), both of which are major components of the Dow Jones Industrials Index. This was why the Dow led the rally among the big-three market indexes, but the NASDAQ 100 was the fastest out of the gate this morning as everything tech rallied with AAPL.

As the day wore on, all this opening earnings-related action took a back seat to the Fed policy announcement. As expected, the Fed did nothing, and the policy statement came off as quite dovish. This got the market rallying to the upside right after the release.

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