- Wall Street recovered most of the losses caused by Microsoft's dire sales forecast.
- The S&P 500 is on track for its best January since 2019, thanks to expectations that the Federal Reserve will slow its rate hikes. According to JPMorgan Marko Kolanovic, the equity rebound came just as the economy was about to enter a downturn, setting the stage for a selloff.
- In other news, the Loonie fell as the Bank of Canada raised rates for the eighth and potentially final time, saying it expects to step back and assess the impact of its rapid tightening.
- Tesla beat forecasts to prove that it can withstand the turmoil between the US and China.
