The View from 5th Avenue

The View from 5th Avenue – 30 January 2023

A moment of pause in markets today. Lower. We’ll call it a healthy pullback, void of any major catalysts, amidst an otherwise quiet session as markets and participants take the day to sharpen their tools for what lies ahead this week. All sectors, save for one on the margin, closing in the red with ~80% of the S&P falling lower in Monday trading. In sector performance, some minor reversion with YTD laggards (+Staples, Utilities) floating to the relative ‘top’ and Energy, Tech leading the decline.

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