Amazon has struggled amid the challenging economic environment, and the near-term outlook remains grim.
(Bloomberg) -- This year’s surge in technology stocks has been especially pronounced in the riskiest corners of the market, suggesting to some skeptics the potential for a swift reversal.Most Read from BloombergMeta Asks Many Managers to Get Back to Making Things or LeaveQuake Toll Hits 4,000 in Turkey, Syria as Overseas Aid FlowsTrump Charges in Georgia Over 2020 Could Lead to Bigger Fed CasePowell Says Further Rate Hikes Needed and Markets Take HeedWall Street Goes Risk-On Without Powell’s Pus
The Nasdaq Composite had its best January in more than 20 years this past month, which is a promising sign for investors. The index, primarily made up of technology stocks, was up 10.7% in January, the best return in January since 2001. It was a bit unexpected as many market watchers predicted that there could be another correction in 2023, due to projections that an economic slowdown, and potentially a recession, is possible, given the rapid rise in interest rates.