U.S. stocks ended January sharply lower with the S&P 500 posting its worst monthly performance since the onset of the COVID-19 pandemic in March 2020. Even so, the S&P 500 avoided deeper losses to end the volatile month with the largest two-day rally since April 2020. Combined, the S&P 500 rallied nearly 4.4% over the final two days of the month, trimming a much larger loss that exceeded 10% intra-day on January 28.
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The Monthly Recap is published by Cetera Investment Management LLC, an SEC registered adviser owned by Cetera Financial Group. Cetera Investment Management provides market perspectives, portfolio guidance, model management, and other investment advice to its affiliated broker-dealers, dually registered broker-dealers and registered investment advisers.
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