Stocks rose Friday and capped off a winning week fueled by better-than-expected economic growth and a pop in Tesla shares. Investors have been weighing economic data released on Friday ahead of this week's Federal Reserve policy meeting.

All the major averages posted a positive week and are on pace for a month of gains. The tech-heavy index rose 4.32 per cent and closed out its fourth week of gains. It's on pace for its best monthly performance since July. The S&P and Dow added 2.47 per cent and 1.81 per cent, respectively, this week. Earnings season has pressed on, with strong guidance boosting American Express shares by 10.5 per cent despite a top-and bottom-line miss. Some chip stocks rose even as Intelslumped more than 6 per cent on a dismal earnings report that missed expectations.

In sector news, Consumer Discretionary was the standout, up 2.27 per cent, whilst Energy was the worst performer, down almost 2 per cent. To Commodity news, industrial metals have ripped higher since November on bets that China's reopening will boost demand for raw materials. A group of "base metals" led by tin, zinc and copper have surged more than 20 per cent in three months, further supported by the US Federal Reserve signalling a slowdown in the pace of interest rate rises and a softening in the US dollar, which importers use to buy commodities.

Across the Atlantic, European markets closed higher. London's FTSE added 0.1 per cent, Frankfurt gained 0.1 per cent while Paris closed flat. In Asian markets, Tokyo's Nikkei added 0.1 per cent, Hong Kong's Hang Seng gained 0.5 per cent while China's Shanghai Composite was closed. On Friday, the Australian sharemarket closed 0.3 per cent higher to close at 7,494.

Gold lost 0.1 per cent. Silver fell 1.7 per cent. Copper shed 1.1 per cent and oil dropped 1.6 per cent.

Dow Jones 33,978.08 +28.67 +0.08%
US S&P500 4,070.56 +10.13 +0.25%
US Nasdaq 12,166.60 +115.12 +0.96%
UK FTSE 100 7,765.15 +4.04 +0.05%

RECENT INDIAN OCEAN SECURITIES TRANSACTIONS

Balkan Mining Minerals Limited (ASX:BMM) Mining Exploration Sector IPO at $0.20 Price Change from IPO Investment: + $0.175 / 85.50%
Smart Auto Australia Limited (NSX:SAL) Electric Commercial Vehicles Sector IPO at $0.10 Price Change from IPO Investment: + $0.10 / 100%
Azure Health Technology Limited (NSX:VTL) Health Technology IPO at $0.20 Price Change from latest Investment entry: - 0.05 / 25%
Albion Resources Limited (ASX:ALB) Diversified Metals & Mining IPO at $0.20 Price Change from latest Investment entry: - $0.015 / 7.5%
Sprintex Limited (ASX:SIX) Auto Parts & Equipment IPO at $0.086 Price Change from latest Investment entry: - $0.013 / 15.12%
Jadar Resources Limited (ASX:JDR) Diversified Metals & Mining Private Placement at $0.03 Price Change from latest Investment entry : - $0.007 / 23.33%
Krakatoa Resources Limited (ASX:KTA/KTAOC) Gold Sector Private Placement at $0.06 Price Change from latest Investment entry : - $0.008 / 13.33%
PYX Resources Limited (NSX:PYX) Diversified Metals & Mining IPO at $0.40 Price Change from latest Investment entry: + $0.76 / 190%
Cokal Limited (ASX:CKA) Steel Sector Funding at $0.04 Price Change from latest Investment entry: + $0.036 / 90%
Cyclone Metals Limited (ASX:CLE) Steel Sector Placement: at $0.0017 Price Change from latest Investment entry: + $0.0073 / 429.41%
Food Revolution Limited (ASX:FOD) Packaged Foods & Meat Placement at $0.035 Price Change from latest Investment entry : - $0.0007 / 20%
Synertec Corporation Limited (ASX:SOP) Technology Sector Placement at $0.023 Price Change from latest Investment entry: + $0.077 / 334.78%
Douugh Limited (ASX:DOU) Wireless Telecommunications Services Placement at $0.020 Price Change from latest Investment entry: + $0.074 / 370%
This information has proudly been provided by Indian Ocean Securities - www.indianoceansecurities.com. Indian Ocean Securities is a Boutique Australian Financial Services licensee firm (AFSL: 336409), providing tailored strategic advice and corporate finance solutions to a select, high net-worth/ wholesale, Institutional and corporate clients, throughout the Asian and Australian Financial markets.

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Advanced Share Registry Limited published this content on 30 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 January 2023 09:03:10 UTC.