04:29 PM EST, 02/14/2025 — US benchmark equity indexes closed mixed Friday as traders analyzed data showing a drop in retail sales and a rise in industrial production in January.
The Dow Jones Industrial Average decreased 0.4% to 44,546.1, while the Nasdaq Composite rose 0.4% to 20,026.8. The S&P 500 was little changed at 6,114.6. Consumer staples and health care saw the biggest drops among sectors, while technology led the gainers.
For the week, the Nasdaq jumped 2.6%, while the S&P 500 advanced 1.5%. The Dow added 0.6%.
US markets will be closed Monday in observance of Presidents Day.
In economic news, retail sales in the US fell more than market expectations last month amid declines in most categories, including the motor vehicle component, data from the Census Bureau showed Friday.
“A resilient labor market, strong household balance sheets, and lower interest rates than a year ago mean we still expect consumer spending to rise at a solid pace in 2025,” Oxford Economics said. “The proliferation of tariff threats takes off some of the shine, but are grounds for us to cut, not slash the forecast.”
US industrial production increased more than projected in January amid gains in aerospace equipment and utilities, Federal Reserve data showed.
“Despite the monthly vagaries of the data, factory conditions are trending in the right direction,” Oxford Economics said in a separate note.
The US two-year yield dropped 4.8 basis points to 4.26%, while the 10-year rate lost 4.7 basis points to 4.48%.
In company news, Applied Materials (AMAT) shares dropped 8.2%, the steepest decline on the Nasdaq and among the worst on the S&P 500. Late Thursday, the semiconductor equipment manufacturer issued a downbeat fiscal second-quarter revenue outlook at the midpoint amid the impact of US restrictions on exports to China.
GoDaddy (GDDY) was the worst performer on the S&P 500 Friday, down 14%. Late Thursday, the company reported fourth-quarter earnings that plunged more than feared.
Airbnb (ABNB) shares surged nearly 15% Friday, the best performer on the S&P 500 and the Nasdaq. Late Thursday, the vacation rental company logged a bigger-than-projected fourth-quarter profit as strong demand propelled revenue above Wall Street’s estimates.
Wynn Resorts (WYNN) was among the top gainers on the S&P 500 Friday, up 10%. The company late Thursday delivered a fourth-quarter beat.
West Texas Intermediate crude oil dropped 0.8% to $70.72 a barrel Friday.
On Thursday, President Donald Trump signed a memorandum ordering the development of a plan to impose “reciprocal tariffs” on other countries.
This is “a step in the wrong direction,” the European Commission said Friday. “The EU maintains some of the lowest tariffs in the world and sees no justification for increased US tariffs on its exports.”
Gold fell 1.7% to $2,896.50 per troy ounce, while silver ticked 0.2% lower to $32.68 per ounce.
06:13 AM EST, 02/14/2025 — Wall Street futures were modestly lower before the bell Friday, as traders considered Ukrainian peace talks and the unfolding earnings season.
Market denizens await the January national retail sales bulletin, which will be released in Washington at 8:30 a.m. ET, for clues to consumer spending power.
In futures, the S&P 500 fell 0.1%, the Nasdaq was flat and the Dow Jones was off 0.2%.
Asian exchanges traded unevenly overnight, although Hong Kong gained 3.7% in a rally led by tech shares. European bourses edged north at midday on the continent.
Airbnb (ABNB) traded up 13.5% pre-bell after the online lodging broker reported strong Q4 revenue and earnings late Thursday.
Enbridge (ENB), TC Energy (TRP), and Fortis (FTS), among others, plan to report earnings pre-bell.
Also on the economic calendar is the January import and export prices report at 8:30 am ET, followed by the January industrial production release at 9:15 am.
The December business inventories report posts at 10 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.
Dallas Federal Reserve President Lorie Logan speaks at 3 pm.
In pre-market action, Bitcoin traded at $97,042, West Texas Intermediate crude oil traded higher at $71.49, and 10-year US Treasuries offered 4.53%. Spot gold traded for $2,939 an ounce.
04:33 PM EST, 02/13/2025 — US benchmark equity indexes closed higher Thursday, while Treasury yields retreated as markets assessed the latest corporate earnings, economic data, and tariff updates.
The Nasdaq Composite rose 1.5% to 19,945.6, while the S&P 500 increased 1% to 6,115.1. The Dow Jones Industrial Average advanced 0.8% to 44,711.4. All sectors posted gains, led by materials and consumer discretionary.
In company news, AppLovin (APP) shares surged 24%, the top gain on the Nasdaq. Late Wednesday, the company delivered Q4 beats on earnings and revenue.
MGM Resorts International (MGM) was the biggest gainer on the S&P on Thursday, up almost 18%. The company late Wednesday posted Q4 adjusted earnings and revenue that fell less than projected.
West Pharmaceutical Services (WST) shares tumbled 38%, the biggest drop on the S&P, after the company issued a downbeat full-year outlook.
Trade Desk (TTD) shares slumped 33%, the steepest decline on the Nasdaq. The company late Wednesday logged Q4 revenue that fell short of Wall Street’s views.
The US 10-year yield dropped 9.9 basis points to 4.54% Thursday, while the two-year rate lost 5.4 basis points to 4.31%.
In economic news, US producer price growth rose more than the Street’s expectations last month as wholesale costs of goods increased amid a jump in diesel fuel, the Bureau of Labor Statistics reported.
“A hotter-than-expected producer price report on the heels of yesterday’s rise in the (consumer price index) report reinforces concerns of ingrained inflationary pressures in the economy and further upside price risks given an aggressive fiscal policy agenda,” Stifel said. “As such, hopes of further policy relief from the (Federal Reserve) is off the table, at least for now, or until inflation stabilizes and/or the labor market shows meaningful signs of cooling.”
Weekly applications for unemployment insurance in the US dropped more than projected, according to government data.
“We now think the Fed will keep rates on hold for most of 2025 and look for only one rate cut this year, to come in December,” Oxford Economics said.
Earlier this week, Fed Chair Jerome Powell said policymakers do “not need to be in a hurry” to adjust interest rates as the economy remained strong.
West Texas Intermediate crude oil gained 0.1% to $71.42 a barrel on Thursday.
President Donald Trump signed a memorandum outlining his plan to impose reciprocal tariffs on other countries, media outlets reported. “They charge us a tax or tariff and we charge them,” Trump said, according to reports.
Gold rose 1% to $2,957.30 per troy ounce, while silver gained 0.6% to $32.99 per ounce.
09:02 AM EST, 02/13/2025 — US equity futures were cautiously higher ahead of Thursday’s opening bell as traders digested the producer inflation report.
The Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures declined 0.1%, and Nasdaq futures increased 0.3%.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.2% at $74.25 per barrel and US West Texas Intermediate crude 1.2% lower at $70.50 per barrel.
New unemployment claims, released at 8:30 am ET, fell to 213,000 in the week ended Feb. 8 from 220,000 in the preceding week, compared with estimates compiled by Bloomberg for 216,000 claims. Producer prices rose 0.4% in the final demand for January following a 0.5% gain in December, compared with estimates for a smaller 0.3% increase.
In other world markets, Japan’s Nikkei closed 1.3% higher, Hong Kong’s Hang Seng ended 0.2% lower, and China’s Shanghai Composite finished 0.4% lower. Meanwhile, UK’s FTSE 100 fell 0.5%, and Germany’s DAX index fell 1.7% in Europe’s early afternoon session.
In equities, Applovin (APP) shares rose 30% pre-bell after the company reported late Wednesday higher Q4 profit and revenue and issued Q1 revenue guidance that topped analysts’ estimates.
On the losing side, The Trade Desk (TTD) shares were down 29%, a day after the company posted Q4 revenue that trailed analysts’ estimates. Fastly (FSLY) stock was 24% lower after the company reported late Wednesday it swung to a Q4 loss.
04:29 PM EST, 02/12/2025 — US benchmark equity indexes closed mostly lower Wednesday, while Treasury yields increased after official data showed that consumer inflation accelerated in January.
The Dow Jones Industrial Average fell 0.5% to 44,368.6, while the S&P 500 fell 0.3% to 6,052. The Nasdaq Composite was little changed at 19,650. Among sectors, energy saw the biggest drop, down 2.7%, while communication services was little changed. Consumer staples was higher.
In economic news, the US consumer price index increased 0.5% in January from 0.4% the month prior, while the annual measure accelerated to 3% from 2.9%. Core inflation, which excludes the volatile food and energy components, accelerated to 0.4% sequentially and to 3.3% annually last month, topping Wall Street’s views.
“The first CPI reading for 2025 showed core inflation rising at its fastest pace in nearly a year, amid a further uptick in goods prices and ongoing stickiness in services inflation,” TD Economics said. Separately, BMO said the report is likely to make the Federal Reserve more cautious and patient regarding future rate cuts than it already is.
Fed Chair Jerome Powell said the latest CPI report fits with an overall picture that policymakers are “close but not there” on getting inflation back to their 2% goal, media outlets reported.
On Tuesday, Powell said the Fed does “not need to be in a hurry” to adjust monetary policy as the economy remained strong.
The official US producer price report for January is scheduled to be released Thursday.
The US 10-year yield jumped 9.4 basis points to 4.63%, while the two-year rate added 7.1 basis points to 4.36%.
In company news, Biogen (BIIB) guided for a decline in earnings and revenue for 2025 amid ongoing challenges in its multiple sclerosis product category. The company’s shares fell 4.3%, the steepest decline on the Nasdaq.
Westinghouse Air Brake Technologies (WAB) shares slumped 9.1%, the worst performer on the S&P 500, after the company’s fourth-quarter results fell short of the Street’s views.
CVS Health (CVS) posted better-than-expected fourth-quarter results and projected higher 2025 earnings on a year-over-year basis. The shares jumped nearly 15%, the top gainer on the S&P 500.
Generac (GNRC) was the second-best performer on the S&P 500, up 7.6%, after the company delivered a fourth-quarter earnings beat.
West Texas Intermediate crude oil dropped 2.8% to $71.29 a barrel Wednesday.
The Organization of the Petroleum Exporting Countries maintained its global oil demand projections for 2025 and 2026, while flagging uncertainty from the impact of potential tariffs.
“It remains to be seen how and to what extent potential tariffs and other policy measures will play out” for the global economy, the cartel said. “So far, they are not anticipated to materially impact the current underlying growth assumptions.”
Commercial crude stockpiles in the US increased more than expected last week, government data showed.
Gold decreased 0.3% to $2,924.20 per troy ounce, while silver rose 1.1% to $32.68 per ounce.
06:25 AM EST, 02/12/2025 — Wall Street futures pointed flat to modestly lower pre-bell Wednesday as traders awaited the latest inflation report from Washington and further testimony by the nation’s top central banker to Congress.
The January consumer price index (CPI) bulletin posts at 8:30 am ET in Washington, with pundits projecting a 2.9% on-year rise, but 3.1% on the CPI-core that excludes certain food and energy costs.
Federal Reserve Chairman Jerome Powell is slated to appear before the the US House of Representatives at 10 am ET, but is expected to repeat his sentiments expressed before the US Senate on Tuesday, and that is that the Fed is about right in holding interest rates steady for a while.
In the futures, the S&P 500 fell 0.2%, the Nasdaq was down 0.1% and the Dow Jones was off 0.2%.
Asian exchanges traded mostly higher overnight, with China-based real estate issues rallying after media reports that Beijing plans a multi-billion dollar support plan for ailing developer China Vanke.
European bourses tracked moderately north midday on the continent.
CME (CME), CVS Health (CVS) and Dominion Energy (D) plan to report earnings pre-bell, among others. Cisco Systems (CSCO) reports after-bell.
On the economic calendar, in addition to the CPI bulletin and Chair Powell hearing, is the weekly MBA mortgage applications bulletin at 7 am ET, followed by the weekly EIA petroleum status report at 10:30 am.
Atlanta Fed President Raphael Bostic speaks at noon, followed by Fed Governor Christopher Waller at 5:05 pm.
In premarket action, Bitcoin traded at $96,196, West Texas Intermediate crude oil traded lower at $72.48, and 10-year US Treasuries offered 4.55%. Spot gold traded for $2,889 an ounce.
04:35 PM EST, 02/11/2025 — US benchmark equity indexes closed mixed Tuesday as markets analyzed Federal Reserve Chair Jerome Powell’s comments on monetary policy and awaited the official consumer inflation data for January.
The Nasdaq Composite fell 0.4% to 19,643.9, while the Dow Jones Industrial Average rose 0.3% to 44,593.7. The S&P 500 was little changed at 6,068.5. Consumer discretionary posted the biggest drop among sectors, while consumer staples led the gainers.
“With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance,” Powell said in prepared remarks to the Senate Committee on Banking, Housing and Urban Affairs. “We know that reducing policy restraint too fast or too much could hinder progress on inflation. At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment.”
Powell is scheduled to appear before the House Financial Services Committee on Wednesday.
The US 10-year yield rose 4.2 basis points to 4.54% Tuesday, while the two-year rate added 2.2 basis points to 4.29%.
Government data are expected to show Wednesday that US consumer inflation last month rose 0.3% sequentially following a 0.4% gain in December, according to a Bloomberg consensus. On an annual basis, the US consumer price index probably increased 2.9% in January, unchanged from the prior month.
The official US producer price report for January is due Thursday.
Late last month, the Fed kept interest rates unchanged following three straight cuts and said inflation remained “somewhat elevated.”
In economic news, small business optimism in the US fell more than projected in January, while the uncertainty index jumped, a survey by the National Federation of Independent Business showed.
“With monetary policy on hold for the foreseeable future, fiscal policy grinding its way slowly through Congress, and trade policy front and center, it is likely that uncertainty will remain a constraint on business confidence over the coming months,” TD Economics said.
West Texas Intermediate crude oil increased 1.3% to $73.24 a barrel.
In company news, Fidelity National Information Services (FIS) shares fell 12%, the steepest decline on the S&P, after the financial technology company’s revenue performance in Q4 and the outlook for the full year disappointed Wall Street.
Electric vehicle maker Tesla (TSLA) shares fell 6.3%, the biggest drop on the Nasdaq and the third-largest decline on the S&P.
DuPont de Nemours (DD) posted stronger-than-expected Q4 growth amid higher volumes, while projecting organic revenue acceleration in 2025. The industrial materials manufacturer’s shares jumped 6.9%, the top increase on the S&P.
Coca-Cola (KO) logged better-than-expected Q4 results amid volume and pricing gains, while the beverage giant projected annual growth in earnings and organic revenue for 2025. The company’s shares jumped 4.7%, the biggest increase on the Dow.
Gold fell 0.3% to $2,926.30 per troy ounce, while silver lost 0.8% to $32.25 per ounce.
08:48 AM EST, 02/11/2025 — US equity futures dropped ahead of Tuesday’s opening bell as traders looked ahead to key inflation reports due later in the week.
The Dow Jones Industrial Average futures slipped 0.3%, S&P 500 futures declined 0.4%, and Nasdaq futures were down 0.6%.
Investors are keeping an eye on the consumer price index report scheduled for release on Wednesday, which will be followed by the producer price index on Thursday.
Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $77.18 per barrel and US West Texas Intermediate crude up 1.7% at $73.47 per barrel.
Federal Reserve Chair Jerome Powell is scheduled to speak before the US Senate Committee on Banking, Housing, and Urban Affairs for the first day of his semiannual monetary policy testimony at 10 am ET.
In other world markets, Hong Kong’s Hang Seng ended 1.1% lower, China’s Shanghai Composite finished 0.1% lower, while the Japanese market was closed for holiday. Meanwhile, UK’s FTSE 100 slipped 0.02%, and Germany’s DAX index gained 0.1% in Europe’s early afternoon session.
In equities, shares of Humana (HUM) were 4% higher pre-bell after the company reported Q4 adjusted loss and revenue that topped analysts’ estimates. SelectQuote (SLQT) shares were up 31%, a day after the company said it signed an agreement for $350 million in investment from funds managed by Bain Capital, Morgan Stanley (MS) Private Credit, and Newlight Partners.
On the losing side, Fluence Energy (FLNC) stock was 40% lower after the company posted a wider fiscal Q1 loss and cut its 2025 sales outlook. Harmonic (HLIT) shares were down 28% after the company issued late Monday 2025 financial outlook that trailed analysts’ projections.
04:35 PM EST, 02/10/2025 — US benchmark equity indexes closed higher Monday as traders evaluated the latest tariff threat by President Donald Trump and awaited key inflation data due later in the week.
The Nasdaq Composite rose 1% to 19,714.3, while the S&P 500 advanced 0.7% to 6,066.4. The Dow Jones Industrial Average increased 0.4% to 44,470.4. Energy led the gainers among sectors, while financials and health care closed lower.
Aluminum and steel stocks in the US jumped after Trump said Sunday he would impose 25% tariffs on metal imports. Last week, he delayed plans for 25% general import tariffs on Canada, which was the biggest supplier of aluminum to the US in 2023, ING said in a research note published Monday.
China recently announced a series of retaliatory tariffs against the US, while the Trump administration paused the announced tariffs on Mexico.
The US 10-year yield rose 1.2 basis points to 4.50% Monday, while the two-year rate was little changed at 4.28%.
The official US consumer inflation report for January is due Wednesday, with producer prices data scheduled for Thursday. Consumer inflation is expected to have increased 0.3% sequentially and 2.9% annually last month, according to a Bloomberg-compiled consensus. In December, the US consumer price index rose 0.4% month on month and 2.9% on an annual basis.
Late last month, the Federal Reserve kept interest rates unchanged following three consecutive cuts and said inflation remained “somewhat elevated.”
US consumers’ long-term inflation expectations rose in January, while the year-ahead unemployment outlook reached a multiyear low, the New York Fed said Monday.
Fed Chair Jerome Powell is scheduled to deliver semiannual congressional testimony to the Senate Banking Committee Tuesday and the House Financial Services Committee Wednesday.
West Texas Intermediate crude oil increased 2.1% to $72.46 a barrel Monday.
In company news, Rockwell Automation (ROK) affirmed its full-year earnings outlook as the industrial automation company’s bottom-line results for the fiscal first quarter came in ahead of Wall Street estimates. The company’s shares jumped nearly 13%, the second-top gainer on the S&P 500.
McDonald’s (MCD) was the best performer on the Dow, up 4.8%, after the fast-food giant posted a surprise same-store sales increase for the fourth quarter.
ON Semiconductor (ON) shares slumped 8.2%, the steepest decline on the S&P 500 and the Nasdaq, after the company issued a downbeat quarterly outlook following a fourth-quarter miss.
Some 62% of S&P 500 companies had reported quarterly results through Friday, with earnings jumping nearly 13% year over year on 5.4% revenue growth, Oppenheimer Asset Management said Monday. Before the reporting season’s start, Bloomberg put analysts’ projected bottom-line growth at 7.3%, the brokerage said.
Moderna (MRNA), Palo Alto Networks (PANW), Applied Materials (AMAT), Cisco (CSCO), and Coca-Cola (KO) are among the major names scheduled to report later this week.
Gold increased 1.6% to $2,934.80 per troy ounce, while silver added 0.1% to $32.48 per ounce.
06:11 AM EST, 02/10/2025 — Wall Street futures pointed moderately higher pre-bell Monday, as traders awaited testimony by the Federal Reserve chair, a key inflation report, and another week of earnings releases.
Fed Chair Jerome Powell is slated to deliver his semi-annual monetary policy statements to the House Financial Services Committee on Wednesday, and the Senate Banking Committee on Thursday.
Traders look forward also to the January consumer price index (CPI) report from Washington on Wednesday pre-bell, and then the national retail sales bulletin, on Friday morning.
Among blue-chips reporting earnings this week are Applovin (APP) Coca-Cola (KO), Shopify (SHOP), Cisco (CSCO), CVS Health (CVS), Applied Materials (AMAT), S&P Global (SPGI), Palo Alto Networks (PANW), and Deere (DE).
In the futures, the S&P 500 rose 0.5%, the Nasdaq inclined 0.6% and the Dow Jones was up 0.3%, as traders shrugged off plans by President Donald Trump to raise tariffs on aluminum and steel imports.
Gold struck fresh all-time zeniths in early morning hours, topping $2,930 an ounce.
Asian exchanges traded unevenly overnight, although China-exposed markets gained after soft inflation reports from Beijing boosted outlooks for government macroeconomic stimulus.
European bourses tracked moderately higher midday on the continent.
Steelmaker Nucor (NUE) traded up 8.8% pre-bell, as steel-making issues gained on prospects for Trump levies on the metal.
McDonald’s (MCD), Rockwell Automation (ROK) and Loews (L) plan to report earnings pre-bell, among others.
The economic calendar is vacant for Monday
In pre-market action, Bitcoin traded at $97,961, West Texas Intermediate crude oil traded higher at $72.08, and 10-year US Treasuries offered 4.49%. Spot gold traded for $2,930 an ounce.
04:29 PM EST, 02/07/2025– US benchmark equity indexes dropped Friday after data showed the economy added fewer jobs than projected in January, while a survey pointed to surging inflation expectations among consumers.
The Nasdaq Composite declined 1.4% to 19,523.4, while the Dow Jones Industrial Average and the S&P 500 lost 1% each to 44,303.4 and 6,026, respectively. Among sectors, consumer discretionary saw the steepest decline, while energy was little changed. No sector closed higher.
For the week, the Dow and the Nasdaq decreased 0.5% each, while the S&P 500 shed 0.2%.
In economic news, total nonfarm payrolls in the US rose by 143,000 last month, the Bureau of Labor Statistics reported Friday. The consensus was for a 175,000 increase, according to a survey compiled by Bloomberg.
“With inflation progress having stalled in recent months and heightened uncertainties on how far the new administration will go on tariffs, the [Federal Reserve] is likely to remain more cautious on rate cuts and hold the policy rate steady until sometime this summer,” TD Economics said.
US consumer sentiment reached its lowest level since last July, while year-ahead inflation expectations hit the highest since November 2023, preliminary results of a February survey by the University of Michigan showed. The survey indicated concerns regarding the negative impact of the Trump administration’s tariff policy.
Earlier this week, China announced a series of retaliatory tariffs against the US. The Trump administration paused planned tariffs on Mexico and Canada for a month after negotiations.
President Donald Trump intends to announce reciprocal tariffs on many countries next week, Reuters reported Friday.
The US two-year yield increased 7.7 basis points to 4.29%, while the 10-year rate added 5.1 basis points to 4.49%.
In company news, Amazon.com (AMZN) shares fell 4.1%, the second-steepest decline on the Dow and the Nasdaq and among the worst on the S&P 500. The e-commerce and technology giant late Thursday logged stronger-than-expected Q4 results, though its revenue outlook for Q1 fell short of Wall Street’s estimates.
Elf Beauty’s (ELF) shares plummeted nearly 20% Friday. The cosmetics company lowered its fiscal 2025 outlook late Thursday.
Expedia (EXPE) shares jumped 17%, the best performer on the S&P 500. The company late Thursday delivered a Q4 beat and reinstated a quarterly dividend.
Uber Technologies (UBER) was among the top gainers on the S&P 500, up 6.6%. Investor Bill Ackman said Friday that his Pershing Square hedge fund owns 30.3 million shares of the ride-hailing giant.
West Texas Intermediate crude oil gained 0.5% to $70.94 a barrel Friday. Prices rose following new sanctions on Iran’s crude exports, D.A. Davidson said in a note to clients.
Gold increased 0.3% to $2,886.40 per troy ounce, while silver dropped 1.2% to $32.24 per ounce.
06:26 AM EST, 02/07/2025 — Wall Street futures pointed sideways pre-bell Friday as traders awaited the latest US monthly payrolls bulletin, and digested a tempered earnings report from Amazon.com (AMZN), issued after-bell on Thursday.
The January national employment situation bulletin from Washington is slated for an 8:30 am ET release. Pundits project about 168,000 net new jobs.
Amazon shares traded down 2.8% pre-bell after the online retailer offered moderated guidance and noted rising capital outlays, especially with regards to AI, in its Q4 release.
In the futures, the S&P 500, the Nasdaq and the Dow Jones indices all hewed close to Thursday closes.
Asian exchanges traded unevenly overnight, while European bourses tracked sideways midday on the continent.
Expedia (EXPE) traded up 10% pre-bell after the online travel agency reported Q4 revenues and earnings above expectations, late Thursday
Fortive (FTV) an Kimco Realty (KIM) plan to report earnings pre-bell, among others.
On the economic calendar, in addition to the employment report, is the University of Michigan consumer sentiment report for February at 10 am, along with wholesale inventories bulletin for December.
The Baker Hughes domestic oil-and-gas rig count posts at 1 pm.
Federal Reserve Governor Michelle Bowman speaks at 9:25 am, and Governor Adriana Kugler speaks at noon.
In premarket action, Bitcoin traded at $97,478, West Texas Intermediate crude oil traded higher at $71.26, and 10-year US Treasuries offered 4.43%. Spot gold traded for $2,867 an ounce.
04:26 PM EST, 02/06/2025 — US benchmark equity indexes closed mixed Thursday as markets assessed the latest labor market data and awaited the official jobs report for January.
The Nasdaq Composite rose 0.5% to 19,792, while the S&P 500 increased 0.4% to 6,083.6. The Dow Jones Industrial Average fell 0.3% to 44,747.6. Among sectors, consumer staples and financials led the gainers, while energy saw the biggest drop.
In economic news, weekly applications for unemployment insurance in the US rose more than expected, the Department of Labor reported.
US-based employers cut 49,795 jobs last month, up 28% from December, but down 40% annually, Challenger Gray & Christmas said.
On Friday, data from the Bureau of Labor Statistics is expected to show that the US economy added 170,000 nonfarm jobs last month, which would mark a slowdown from the 256,000 gain posted for December, according to a Bloomberg poll.
“The lack of clear weakness in the labor market, coupled with stalling progress in disinflation, prompted the (Federal Reserve) to take a seat on the sidelines at the start of the year, perhaps for a prolonged period of time,” Stifel said in a Thursday note to clients. “Going forward, any further strength in hiring or acceleration in price pressures will work to reinforce the committee’s steady position.”
Late last month, the central bank’s Federal Open Market Committee kept interest rates unchanged following three consecutive cuts and said inflation remained “somewhat elevated.”
The US two-year yield rose 2.7 basis points to 4.21% Thursday, while the 10-year rate added 1.6 basis points to 4.44%.
In company news, Tapestry (TPR) shares jumped 12%, the top gainer on the S&P 500, as the luxury fashion company raised its full-year revenue outlook after logging stronger-than-projected sales in the holiday quarter.
Philip Morris International (PM) issued an upbeat full-year earnings outlook as the tobacco company reported fourth-quarter results above market expectations amid robust demand for its smoke-free products and ZYN nicotine pouches. Its shares surged nearly 11%, the second-best performer on the S&P 500.
Honeywell International (HON) saw the biggest drop on the Dow and the Nasdaq, down 5.6%. The industrial conglomerate announced plans to split into three publicly listed entities as part of its goal to optimize its portfolio. The company issued a downbeat full-year outlook despite beating market expectations for the fourth quarter.
West Texas Intermediate crude oil dropped 0.7% to $70.58 a barrel.
The US Treasury Department announced sanctions against an international network for allegedly facilitating Iranian crude oil shipments to China that the Treasury said were worth “hundreds of millions of dollars.”
Gold fell 0.4% to $2,881.50 per troy ounce, while silver dropped 0.9% to $32.69 per ounce.
09:05 AM EST, 02/06/2025 — US equity futures were flat ahead of Thursday’s opening bell as traders digested a deluge of corporate earnings.
The Dow Jones Industrial Average futures increased 0.1%, S&P 500 futures gained 0.1%, while Nasdaq futures slipped 0.1%.
Eli Lilly (LLY) and Philip Morris (PM) both reported pre-bell higher Q4 adjusted earnings and revenue. Meanwhile, Amazon (AMZN) is scheduled to report after the closing bell.
Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $75.04 per barrel and US West Texas Intermediate crude 0.6% higher at $71.44 per barrel.
New unemployment claims, released at 8:30 am ET, rose to 219,000 in the week ended Feb. 1 from 208,000 in the previous week, compared with estimates compiled by Bloomberg for 213,000 claims. Nonfarm productivity rose by 1.2% in Q4, in line with expectations; while unit labor costs rose by 3% versus estimates for a 3.4% increase.
In other world markets, Japan’s Nikkei closed 0.6% higher, Hong Kong’s Hang Seng ended 1.4% higher, and China’s Shanghai Composite finished 1.3% higher. Meanwhile, the UK’s FTSE 100 was up 1.6%, and Germany’s DAX index was 0.9% higher in Europe’s early afternoon session.
In equities, Philip Morris shares were up 9% pre-bell. Lipella Pharmaceuticals (LIPO) stock was 158% higher after the company said it received a US Food and Drug Administration approval for an expanded access program for LP-310, an oral rinse formulation designed to treat oral lichen planus.
On the losing side, Skyworks Solutions (SWKS) shares were down 26% after the company overnight reported lower fiscal Q1 adjusted net income and revenue. Matrix Service Company (MTRX) stock was nearly 18% lower, a day after the company posted a wider fiscal Q2 loss. Roblox (RBLX) shares were down 18% after the company reported Q4 revenue that trailed analysts’ estimates.
04:27 PM EST, 02/05/2025 — US benchmark equity indexes closed higher Wednesday as traders analyzed the latest economic data and corporate earnings.
The Dow Jones Industrial Average rose 0.7% to 44,873.3, while the S&P 500 advanced 0.4% to 6,061.5. The Nasdaq Composite increased 0.2% to 19,692.3. Real estate and technology led the gainers among sectors, while communication services saw the biggest drop. Materials was little changed.
In economic news, employment growth in the US private sector topped expectations for January, while pay gains stabilized, Automatic Data Processing (ADP) reported.
Growth in the US services sector slowed in January amid weakness in business activity and new orders, two surveys by the Institute for Supply Management and S&P Global (SPGI) showed Wednesday. The ISM survey indicated concerns regarding potential tariff actions by the Trump administration.
“We expect that the service sector will grow along a solid trend going forward,” Jefferies said in a note to clients. “Our base case expectation is that the net effect of the tariffs will be rather modest on corporate profit margins and inflation, and that the drag will be overwhelmed by the positive impacts of deregulation and tax cuts.”
The US trade deficit grew 25% in December, taking the 2024 shortfall to $918.42 billion, government data showed Wednesday.
Inflation in the US is approaching the Federal Reserve’s 2% target, Chicago Fed President Austan Goolsbee said. However, “if we see inflation rising or progress stalling in 2025, the Fed will be in the difficult position of trying to figure out if the inflation is coming from overheating or if it’s coming from tariffs,” he said. “That distinction will be critical for deciding when or even if the Fed should act.”
On Tuesday, China announced a series of retaliatory tariffs against the US. The Trump administration recently announced 25% tariffs on goods from both Canada and Mexico, along with a 10% levy on imports from China. However, President Donald Trump on Monday paused the announced tariffs on Mexico and Canada for a month.
The US 10-year yield fell 8.3 basis points to 4.43% Wednesday, while the two-year rate dropped 2.3 basis points to 4.19%.
In company news, Johnson Controls International (JCI) shares jumped 11%, the top gainer on the S&P 500, after the building systems manufacturer increased its fiscal 2025 earnings outlook and announced a new chief executive.
Amgen (AMGN) was the best performer on the Dow, up 6.5%. The company delivered a fourth-quarter beat late Tuesday.
Alphabet’s (GOOG, GOOGL) class A shares fell 7.3%, while its class C shares dropped 6.9%, the steepest decliners on the Nasdaq and among the worst on the S&P 500. The Google parent’s fourth-quarter revenue trailed Wall Street’s estimates late Tuesday.
Advanced Micro Devices (AMD) was among the worst Nasdaq performers Wednesday, down 6.3%. Late Tuesday, the chipmaker forecast a sequential decline in revenue for the first quarter and reported weaker-than-expected data center sales for the fourth quarter.
West Texas Intermediate crude oil declined 2.1% to $71.19 a barrel Wednesday.
Commercial crude stockpiles in the US climbed by 8.7 million barrels to 423.8 million barrels through the week ended Friday, the Energy Information Administration said. The consensus was for a gain of 1.9 million barrels, according to a Bloomberg poll.
Gold rose 0.2% to $2,881.60 per troy ounce, while silver fell 1% to $32.70 per ounce.
09:12 AM EST, 02/05/2025 — US equity futures were falling ahead of Wednesday’s opening bell, with futures of technology-heavy Nasdaq Composite leading the losses after earnings from sector majors Alphabet (GOOG, GOOGL) and Advanced Micro Devices (AMD).
The Dow Jones Industrial Average futures slipped 0.1%, S&P 500 futures fell 0.4%, and Nasdaq futures were down 0.7%.
Oil prices fell, with front-month global benchmark North Sea Brent crude down 1.1% at $75.36 per barrel and US West Texas Intermediate crude down 1.1% at $71.89 per barrel.
The ADP Institute’s Employment Report, released at 8:15 am ET, showed a 183,000 increase in private payrolls for January versus a 176,000 gain a month earlier, compared with estimates compiled by Bloomberg for a 150,000 rise.
US trade deficit, released at 8:30 am ET, widened to $98.43 billion in December from $78.94 billion previously, compared with estimates for a $96.8 billion gap.
The Institute for Supply Management’s Services index, scheduled for 10 am ET, is seen coming in at 54.2 for January versus 54.1 previously.
In other world markets, Japan’s Nikkei closed 0.09% higher, Hong Kong’s Hang Seng ended 0.9% lower, and China’s Shanghai Composite finished 0.7% lower. Meanwhile, the UK’s FTSE 100 was up 0.3%, and Germany’s DAX index flatlined in Europe’s early afternoon session.
In equities, Alphabet shares were down 7% pre-bell after the company reported late Tuesday Q4 revenue that trailed analysts estimates. Meanwhile, AMD stock was 10% lower after the chipmaker overnight reported weaker-than-expected data center sales for Q4 and warned of a sequential decline in revenue for Q1.
On the winning side, Novo Nordisk (NVO) shares were up 4% after the company reported higher Q4 earnings and sales. Pasithea Therapeutics (KTTA) stock was 58% higher after the company said it received a positive recommendation from a safety review committee for its ongoing phase 1 trial of PAS-004 in advanced cancer to advance to the next dose cohort.
04:27 PM EST, 02/04/2025 — US benchmark equity indexes closed higher Tuesday, shrugging off trade concerns, despite China announced a series of retaliatory tariffs against the US.
The Nasdaq Composite rose 1.4% to 19,654, while the S&P 500 advanced 0.7% to 6,037.9. The Dow Jones Industrial Average added 0.3% to 44,556. Energy led the gainers among sectors, up 2.2%, while utilities saw the biggest drop.
China will impose additional tariffs of 15% on coal and liquefied natural gas imports from the US and 10% higher duties on items including American crude oil and agricultural machinery, effective Feb. 10, China’s finance ministry said Tuesday.
The Trump administration recently announced 25% tariffs on goods from both Canada and Mexico, along with a 10% levy on imports from China. However, US President Donald Trump on Monday paused the announced tariffs on Mexico and Canada for a month.
“Despite the back and forth, risks to the market, and threat to international relationships, the Trump administration continues to tout the importance of tariffs as a carrot and a stick to ensure international cooperation at the border, as well as securing fair trade deals,” Stifel said in a Tuesday note. “That being said, tariffs are not without costs and most of the price increase will land on the end user.”
The US two-year yield fell 4.9 basis points to 4.22%, while the 10-year rate dropped three basis points to 4.51%.
In company news, Palantir Technologies (PLTR) shares jumped nearly 24%, the top gainer on the S&P 500 and the Nasdaq. The software maker late Monday logged Q4 results that topped analysts’ estimates amid rising demand for artificial intelligence capabilities.
Spotify Technology’s (SPOT) US-listed shares surged 13% Tuesday as the audio streaming company issued an upbeat revenue outlook for Q1 after closing out its first full year of profitability.
PayPal (PYPL) offered a strong bottom-line outlook as Q4 earnings unexpectedly rose, though its Q1 revenue guidance implied a sequential deceleration. The payments processor’s shares sank 13%, the worst Nasdaq performer, and the second-steepest decline on the S&P 500.
PepsiCo’s (PEP) Q4 earnings came in ahead of Wall Street’s estimates, while revenue posted a surprise decline amid weakness in the beverage and snacks company’s North American businesses. Its shares fell 4.5%, the second-biggest drop on the Nasdaq.
West Texas Intermediate crude oil declined 0.8% to $72.60 a barrel Tuesday.
In economic news, US job openings decreased to 7.6 million as of the last day of December from November’s upwardly revised 8.16 million print, according to the Bureau of Labor Statistics’ job openings and labor turnover survey. The consensus was for an 8 million level in a survey compiled by Bloomberg.
Gold rose 0.6% to $2,874.40 per troy ounce, while silver added 1.2% to $32.90 per ounce.
09:01 AM EST, 02/04/2025 — US equity futures were flat ahead of Tuesday’s opening bell as traders assessed the potential impact of China’s retaliatory tariffs on US goods.
Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures flatline, and Nasdaq futures were up 0.2%.
On Tuesday, China unveiled tariffs of up to 15% on imports of US coal and liquefied natural gas, as well as 10% duties on crude oil, farm equipment, and certain vehicles in response to fresh US tariffs on Chinese goods.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 1.7% at $74.71 per barrel and US West Texas Intermediate crude 2.5% lower at $71.30 per barrel.
US factory orders, scheduled for release at 10 am ET, are expected to have dropped by 0.7% in December following a 0.4% decline previously, according to estimates compiled by Bloomberg. Meanwhile, the Labor Department’s Job Openings and Labor Turnover Survey is expected to show a decline in job openings to 8 million in December from 8.098 million in November.
In other world markets, Japan’s Nikkei finished 0.7% higher, Hong Kong’s Hang ended 2.8% higher, while the Chinese market was closed for holiday. UK’s FTSE 100 slipped 0.1%, and Germany’s DAX index gained 0.2% in Europe’s early afternoon session.
In equities, shares of Spotify Technology (SPOT) were 8% higher pre-bell after the company reported it swung to Q4 earnings on higher revenue. Quantum BioPharma (QNTM) shares surged 74% after the company said its clinical trial of unbuzzd achieved “statistically significant” results in accelerating alcohol metabolism and lowering blood alcohol concentration.
On the losing side, Merck (MRK) shares fell 8.3% after the drugmaker issued 2025 adjusted earnings and sales guidance that trailed analysts’ projections. Estee Lauder (EL) shares dropped 4.4% after reporting see lower fiscal Q2 adjusted profit and sales.
04:29 PM EST, 02/03/2025 — US benchmark equity indexes closed lower Monday, but pared losses from earlier in the session after President Donald Trump paused new tariffs on Mexico.
The Nasdaq Composite closed 1.2% lower at 19,392, while the S&P 500 fell 0.8% to 5,994.6. The Dow Jones Industrial Average dropped 0.3% to 44,421.9. Technology saw the steepest decline among sectors, while consumer staples led the gainers.
The Trump administration on Saturday announced 25% tariffs on goods from both Canada and Mexico, along with a 10% levy on imports from China. However, Trump said Monday that the US will pause the announced tariffs on Mexico for one month as the two sides engage in negotiations.
Apple (AAPL) shares slid 3.4%, the steepest decline on the Dow. Nvidia (NVDA), Goldman Sachs (GS) and Caterpillar (CAT) were among the worst performers on the Dow. Electric vehicle maker Tesla (TSLA) shares decreased 5.2%, the second-biggest drop on the Nasdaq and among the worst on the S&P 500.
Trump signaled over the weekend that tariffs on the European Union will be implemented next.
The Trump administration’s tariff plans are likely to prompt Americans to brace for higher prices on various items such as vegetables, cars and liquor, Stifel said in a Monday note.
The US 10-year yield dropped 3.2 basis points to 4.54%, while the two-year rate rose 1.3 basis points to 4.25%.
In economic news, the US manufacturing sector rebounded in January as demand conditions improved, two separate surveys showed. Data from the Institute for Supply Management indicated an expansion for the first time in more than two years. S&P Global said its manufacturing purchasing managers’ index moved back above the 50 mark for the first time in seven months.
“Business confidence about prospects for the year ahead has leaped to the highest for nearly three years,” S&P Global Market Intelligence Chief Business Economist Chris Williamson said.
West Texas Intermediate crude oil rose 0.5% to $72.88 a barrel.
Atlanta Fed President Raphael Bostic said he wants to wait “a while” before easing monetary policy again following last year’s interest rate cuts amid uncertainty over the US economy this year, Bloomberg News reported.
In company news, IDEXX Laboratories (IDXX) shares jumped 11%, the best performer on the S&P 500 and the Nasdaq, after the company delivered a fourth-quarter beat.
Tyson Foods (TSN) lifted its full-year revenue growth outlook as the meat producer reported better-than-expected fiscal first-quarter results, buoyed by volume and price gains. The company’s shares increased 2.2%.
Some 36% of S&P 500 companies have reported quarterly results so far this season, with earnings up 7.4% year over year on 4.5% sales growth, Oppenheimer Asset Management said. Before the reporting season’s start, Bloomberg put analysts’ projected bottom-line growth at 7.3%, according to the report.
Roughly 131 companies are expected to report results this week, including mega-caps Amazon.com (AMZN) and Alphabet (GOOG, GOOGL).
Gold rose 0.8% to $2,857.60 per troy ounce, while silver added 0.7% to $32.51 per ounce.
08:58 AM EST, 02/03/2025 — US equity futures were falling pre-bell Monday after President Donald Trump unveiled fresh tariffs against key trading partners.
The Dow Jones Industrial Average futures fell 1.3%, S&P 500 futures dropped 1.5%, and Nasdaq futures were down 1.7%.
The tariffs, set to take effect on Tuesday, will include 25% duties on Canada and Mexico, and 10% on China.
Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.8% at $77.01 per barrel and US West Texas Intermediate crude 2.7% higher at $74.50 per barrel.
The Purchasing Managers’ Manufacturing Index, scheduled for release at 9:45 am ET, is seen coming in at 50.1 in January, which would be unchanged from the flash report.
Forecasters see the Institute for Supply Management’s January Manufacturing Index, due at 10 am ET, unchanged from December at 49.3. Construction spending is expected to have risen by 0.3% in December following no change in November.
In other world markets, Japan’s Nikkei finished 2.7% lower, Hong Kong’s Hang Seng ended 0.04% lower, while the Chinese market was closed for holiday. The UK’s FTSE 100 was down 1.3%, and Germany’s DAX index was 1.6% lower in Europe’s early afternoon session.
In equities, GH Research (GHRS) shares were up 90% after the company said a phase 2b trial of a treatment candidate for treatment-resistant depression met its primary endpoint. Triumph Group (TGI) stock was 34% higher after the company agreed to be acquired by affiliates of Warburg Pincus and Berkshire Partners for about $3 billion.
On the losing side, Cleveland-Cliffs (CLF) shares were down 2.5% after the company said it plans to sell $750 million senior guaranteed notes in an offering exempt from registration requirements. SR Bancorp (SRBK) stock was down 20% after the company reported late Friday lower Q4 earnings and revenue.
04:55 PM EST, 01/31/2025 — US equity indexes were mixed this week after the White House announced trade tariffs with major trading partners, effective Saturday, countering earlier gains from mega-cap quarterly earnings, a monetary policy pause and in-line inflation data.
The S&P 500 closed at 6,040.53 on Friday, down from 6,101.24 a week earlier, and the Nasdaq Composite ended at 19,627.44, down from 19,954.30 a week earlier The Dow Jones Industrial Average rose to 44,544.66 from 44,424.25 a week earlier. The indexes traded close to all-time highs before the tariffs were announced Friday.
The Trump administration will begin implementing a 25% tariff on Mexico and Canada and a 10% tariff on China on Saturday, media reports said, citing White House Press Secretary Karoline Leavitt. CNBC reported the tariffs will be available for public inspection at some point on Saturday.
Microsoft (MSFT), Meta Platforms (META), Tesla (TSLA), and Apple (APPL) reported earnings this week with Meta and Apple shares gaining.
Fed Chair Jerome Powell said the Federal Open Market Committee doesn’t need to rush to lower interest rates as the pace of inflation remains elevated. The FOMC left interest rates unchanged in January.
The personal consumption expenditures price index grew 0.3% in December, as expected in a survey compiled by Bloomberg, following a 0.1% increase in the previous month. The year-over-year core PCE advanced to 2.6% from 2.4% as anticipated. Core PCE price index climbed 0.2% — as forecast in a separate Bloomberg poll — following a 0.1% gain in November. The annual rate remained at 2.8%, meeting expectations.
The Dow Jones Industrial Average dropped 0.8% to 44,544.7, while the S&P 500 fell 0.5% to 6,040.5. The Nasdaq Composite lost 0.3% to 19,627.4. Energy saw the steepest decline among sectors, while communication services and consumer discretionary were the only gainers.
For January, the Dow jumped 4.7%, while the S&P 500 increased 2.7%. The Nasdaq advanced 1.6%.
Tomorrow, Trump be implement 25% tariffs on Mexico, 25% tariffs on Canada, and a 10% tariff on China for the illegal fentanyl distributed in the US, Reuters reported Friday, citing White House Press Secretary Karoline Leavitt.
The US 10-year yield rose 2.9 basis points to 4.54%, while the two-year rate was little changed at 4.20%.
In economic news, official data showed that US consumer spending growth accelerated at the end of 2024, while the Federal Reserve’s preferred inflation gauge held steady at the annual level.
“Despite the tamer price and wage figures, robust consumer spending and uncertain trade policies will likely keep the Fed sidelined in the months ahead,” BMO Capital Markets said in a note.
Separately, Fed Governor Michelle Bowman said that policymakers should take a “cautious and gradual” approach to adjusting monetary policy amid upside risks to inflation.
“In light of the ongoing strength in the economy and with equity prices substantially higher than a year ago, it seems unlikely that the overall level of interest rates and borrowing costs are exerting meaningful restraint,” Bowman said.
On Wednesday, the Federal Open Market Committee decided to hold its benchmark lending rate steady following three straight cuts, saying that inflation remained “somewhat elevated.”
West Texas Intermediate crude oil rose 1.1% to $73.51 a barrel Friday.
In company news, Deckers Outdoor (DECK) shares sank nearly 21%, the worst performer on the S&P 500. Late Thursday, the company’s updated fiscal 2025 sales guidance fell short of Wall Street’s views.
Walgreens Boots Alliance (WBA) saw the second-steepest drop on the S&P 500 Friday, down 10%. The drugstore chain said late Thursday it has decided to suspend its quarterly dividend.
Atlassian (TEAM) shares surged nearly 15%, the best performer on the Nasdaq, a day after issuing an upbeat outlook for its fiscal Q3 revenue, after delivering a Q2 beat.
AbbVie (ABBV) posted better-than-expected Q4 results Friday amid robust sales of Skyrizi and Rinvoq, prompting the drugmaker to lift its long-term combined revenue outlook for the two immunology drugs. It shares increased 4.7%, among the top gainers on the S&P 500.
Gold fell 0.5% to $2,831 per troy ounce, while silver dropped 0.8% to $32.25 per ounce.
09:15 AM EST, 01/31/2025 — US equity futures rose ahead of Friday’s opening bell as traders digested key inflation data.
The Dow Jones Industrial Average futures gained 0.2%, S&P 500 futures rose 0.4%, and Nasdaq futures were up 0.7%.
Oil prices were higher, with front-month global benchmark up 0.2% at $76.01 per barrel and US West Texas Intermediate crude 0.2% higher at $72.88 per barrel.
The Personal Consumption Expenditures price index, released at 8:30 am ET, showed a 0.3% growth in prices, in line with estimates compiled by Bloomberg. The core measure, which is the Federal Reserve’s preferred measure of inflation, was also up as expected at 0.2%. Meanwhile, employment costs rose 0.9% on the quarter in Q4, in line with estimates.
Forecasters see the Chicago Purchasing Managers Index, due at 9:45 am ET, coming in at 40.3 in January versus 36.9 previously.
In other world markets, Japan’s Nikkei closed 0.2% higher, while the Hong Kong and Chinese markets were closed for holiday. Meanwhile, UK’s FTSE 100 rose 0.5%, and Germany’s DAX index increased 0.30% in Europe’s early afternoon session.
In equities, shares of Novartis (NVS) were 1.2% higher pre-bell after the company reported higher Q4 core earnings and revenue.
On the losing side, Deckers Outdoors (DECK) fell 14% after the company issued fiscal 2025 revenue guidance shy of analysts’ estimates.
04:29 PM EST, 01/30/2025 — US benchmark equity indexes closed higher Thursday as traders analyzed the latest set of corporate earnings and economic data.
The S&P 500 rose 0.5% to 6,071.2, while the Dow Jones Industrial Average gained 0.4% to 44,882.1. The Nasdaq Composite added 0.3% to 19,681.8. Barring technology, all sectors closed higher, led by utilities.
In company news, IBM (IBM) shares jumped nearly 13%, the best performer on the Dow and the second-best on the S&P 500. The company delivered a fourth-quarter earnings beat late Wednesday.
Mastercard (MA) posted better-than-expected fourth-quarter results Thursday amid robust consumer spending. The payments giant’s shares increased 3.1%.
Comcast (CMCSA) shares declined 11%, the worst performer on the Nasdaq and among the worst on the S&P 500. The media and connectivity giant logged a sharper fourth-quarter loss in domestic broadband subscribers than it previously expected, and said there’s likely no competitive relief in sight.
Caterpillar (CAT) said it expected softer 2025 revenue than last year’s level amid ongoing weakness in the construction and resource industries after reporting top- and bottom-line declines in the fourth quarter. The company’s shares fell 4.6%, the second-steepest drop on the Dow.
The US 10-year yield decreased 3.5 basis points to 4.52%, while the two-year rate dropped 2.3 basis points to 4.20%.
In economic news, the US economy grew at an annual rate of 2.3% in the fourth quarter, according to an advance estimate by the Bureau of Economic Analysis. The consensus was for a 2.6% gain in a survey compiled by Bloomberg. Official data showed that inflation sped up in the quarter.
“We may see consumer spending slow and drift back to trend over the next few quarters, but we do not see any evidence of an inflection point that would push the economy into a recession any time soon,” Jefferies said.
Pending home sales in the US unexpectedly declined in December after four consecutive months of gains, the National Association of Realtors said.
Weekly applications for unemployment insurance in the US dropped unexpectedly, while continuing claims also fell, government data showed.
West Texas Intermediate crude oil rose 0.3% to $72.85 a barrel Thursday.
On Wednesday, the Federal Reserve left its benchmark lending rate unchanged following three straight cuts, saying that inflation remained “somewhat elevated.”
The Federal Open Market Committee’s statement on Wednesday showed an upwards assessment of the labor market and downwards assessment of inflation improvement. This suggests that policymakers are “increasingly willing to take a prolonged position on the sideline,” if warranted by incoming data, Stifel said in a Thursday note to clients.
Gold rose 2% to $2,848.20 per troy ounce, while silver jumped 3.9% to $32.62 per ounce.
08:55 AM EST, 01/30/2025 — US equity futures were narrowly mixed ahead of Thursday’s opening bell as traders digested quarterly results from Meta Platforms (META) and Tesla (TSLA) as well as key economic data.
The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures increased 0.3%, and Nasdaq futures were up 0.5%.
Oil prices were little changed, with front-month global benchmark North Sea Brent crude hovering at $75.61 per barrel and US West Texas Intermediate crude hovering at $72.58 per barrel.
US gross domestic product, released at 8:30 am ET, showed 2.3% growth in Q4, smaller than the 2.6% estimate compiled by Bloomberg and down from the 3.1% increase in Q3. New unemployment claims fell to 207,000 in the week ended Jan. 25 from 223,000 in the preceding week, compared with estimates for an increase to 225,000.
Forecasters see pending home sales, due at 10 am ET, unchanged in December following a 2.2% growth in the preceding month.
In other world markets, Japan’s Nikkei closed 0.3% higher, while the Hong Kong and Chinese markets were closed for holiday. UK’s FTSE 100 rose 0.7%, and Germany’s DAX index gained 0.3% in Europe’s early afternoon session.
In equities, shares of Meta were 2.4% higher pre-bell after the company late Wednesday reported higher Q4 earnings and revenue that topped estimates from analysts surveyed by FactSet. Meanwhile, Tesla shares were up more than 4% after reporting stronger Q4 adjusted profit and revenue.
On the losing side, Cargo Therapeutics (CRGX) shares were down 75%, a day after the company said it will discontinue its phase 2 study of a treatment candidate for large B-cell lymphoma and reduce its workforce by about 50%.
04:26 PM EST, 01/29/2025 — US benchmark equity indexes closed lower Wednesday as the Federal Reserve held its benchmark lending rate steady and said inflation remained “somewhat elevated.”
The S&P 500 and the Nasdaq Composite dropped 0.5% each to 6,039.3 and 19,632.3, respectively. The Dow Jones Industrial Average lost 0.3% to 44,713.5. Real estate saw the steepest decline among sectors, while communication services and consumer staples led the gainers.
The Federal Open Market Committee kept interest rates in the range of 4.25% to 4.50%, in line with Wall Street’s expectations, following three consecutive cuts. The FOMC reiterated that inflation was “somewhat elevated,” and removed a reference from its December statement that inflation had made progress toward policymakers’ 2% target.
“The unemployment rate has stabilized at a low level in recent months, and labor market conditions remain solid,” the FOMC said Wednesday, following its two-day meeting.
The US 10-year yield fell 1.1 basis points to 4.54%, while the two-year rate rose 1.7 basis points to 4.22%.
In company news, officials from the Trump administration are considering additional curbs on the sale of Nvidia (NVDA) chips to China, Bloomberg News reported. The chipmaking giant’s shares fell 4.1%, the steepest decline on the Dow and the Nasdaq.
Danaher (DHR) reported Q4 earnings that fell short of market estimates, while the medical technology company expects its adjusted core revenue to decline in the ongoing three-month period. It shares dropped 9.7%, the second-worst performer on the S&P 500.
Starbucks (SBUX) was the top gainer on the Nasdaq and the second-best on the S&P 500, up 8.1%. Late Tuesday, the coffee giant’s fiscal Q1 results topped Wall Street expectations as higher prices helped cushion a blow from weak volume.
T-Mobile US (TMUS) reported better-than-expected Q4 results Wednesday, aided by its postpaid phone subscriber additions that came in ahead of the Street’s projections. The wireless company’s shares jumped 6.3%, the second-best performer on the Nasdaq and among the best on the S&P 500.
West Texas Intermediate crude oil decreased 1.2% to $72.92 a barrel. Commercial crude stockpiles in the US increased more than projected last week, government data showed.
In economic news, mortgage applications in the US declined last week, mainly due to weak refinancing activity across conventional and government loans, the Mortgage Bankers Association said.
Gold rose 0.1% to $2,769.50 per troy ounce, while silver gained 2% to $31.50 per ounce.
08:50 AM EST, 01/29/2025 — US equity futures were flat ahead of Wednesday’s opening bell as traders looked ahead to the Federal Reserve’s interest rate decision.
The Dow Jones Industrial Average futures slipped 0.1%, S&P 500 futures declined 0.2%, and Nasdaq futures were up 0.02%.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.4% at $76.22 per barrel and US West Texas Intermediate crude down 0.3% at $73.55 per barrel.
US trade in goods deficit, released at 8:30 am ET, widened to $122.11 billion in December from $105.5 billion in the preceding month, compared with estimates compiled by Bloomberg for a $103.5 billion gap.
The Federal Open Market Committee is scheduled to release a statement at the conclusion of its two-day policy-setting meeting at 2 pm ET. Forecasters expect no action from the Fed this time.
In other world markets, Japan’s Nikkei closed 1% higher, while the Hong Kong and Chinese markets were closed for holiday. UK’s FTSE 100 gained 0.3%, and Germany’s DAX index rose 0.7% in Europe’s early afternoon session.
In equities, shares of Corning (GLW) were up 5% pre-bell after the company reported higher Q4 core earnings and net sales. Starbucks (SBUX) stock was 3.2% higher after the company late Tuesday reported fiscal Q1 non-GAAP net income and revenue that beat analysts’ estimates.
On the losing side, LendingClub (LC) shares were down 18% after the company overnight posted lower Q4 net earnings.
04:43 PM EST, 01/28/2025 — The S&P 500 and the Nasdaq Composite rebounded Tuesday from a technology-led selloff the prior session as the Federal Reserve’s two-day monetary policy meeting got underway.
The tech-heavy Nasdaq rose 2% to 19,733.6, while the S&P 500 added 0.9% to 6,067.7. Both equity indexes closed sharply lower Monday amid potential artificial intelligence competition from Chinese startup DeepSeek.
The Dow Jones Industrial Average increased 0.3% to 44,850.4 Tuesday. Among sectors, tech led the gainers, followed by communication services. Consumer staples saw the steepest decline.
Chip-making giant Nvidia’s (NVDA) shares jumped 8.9%, the best performer on the Dow and among the best on the S&P 500 and the Nasdaq, following a nearly 17% decline Monday. Tech giants Apple (AAPL) and Microsoft (MSFT) were among the top gainers on the Dow.
Markets widely expect the central bank’s Federal Open Market Committee to hold interest rates steady Wednesday, according to the CME FedWatch tool.
“The Fed is likely to focus on the elevated and uncertain pathway of price pressures and the reduced risk of weakness in the labor market as justification to pause further policy adjustments, at least for now, as the committee continues to assess the incoming data and impact of fiscal policy,” Stifel said in a Tuesday note to clients.
The US 10-year yield rose less than one basis point to 4.54%, while the two-year rate was little changed at 4.20%.
In economic news, US consumer confidence retreated this month as views on current labor market conditions deteriorated for the first time since September, the Conference Board said.
US home prices increased to a new record in November as annual growth accelerated, S&P Global (SPGI) division S&P Dow Jones Indices said.
Separately, the Federal Housing Finance Agency said home prices increased 0.3% on a seasonally adjusted basis in November, compared with October’s upwardly revised 0.5% growth. The latest reading matched the consensus in a survey compiled by Bloomberg.
US durable goods orders unexpectedly fell in December amid a plunge in nondefense aircraft, government data showed.
Manufacturing activity in the US Mid-Atlantic region saw a surprise improvement in January, but remained in contraction territory, according to Richmond Fed data.
West Texas Intermediate crude oil increased 1.1% to $73.94 a barrel.
In company news, Royal Caribbean Group (RCL) shares jumped 12%, the best performer on the S&P 500. The company issued an upbeat full-year earnings outlook after delivering a fourth-quarter beat.
General Motors (GM) outlined a strong bottom-line outlook for the full year as the automaker’s fourth-quarter results topped market expectations. Its shares dropped 8.9%, the second-steepest decline on the S&P 500.
JetBlue Airways’ (JBLU) fourth-quarter results came in better than expected, while the airline said it expects operating expenses to continue growing this year. The company’s shares sank nearly 26%.
Gold rose 1.2% to $2,798.60 per troy ounce, while silver gained 1.7% to $30.92 per ounce.
09:13 AM EST, 01/28/2025 (MT Newswires) — US equity futures were little changed pre-bell Tuesday, with investor sentiment stabilizing after a technology-sector slump fueled by concerns over the Chinese AI startup DeepSeek.
Dow Jones Industrial Average futures slipped 0.1%, S&P 500 futures increased 0.1%, and Nasdaq futures were up 0.2%.
The S&P 500 and Nasdaq Composite closed lower on Monday after DeepSeek launched an open-source artificial intelligence model that could potentially run on less-advanced chips.
Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.9% at $76.89 per barrel and US West Texas Intermediate crude up 1.1% at $73.99 per barrel.
Durable goods, released at 8:30 am ET, fell by 2.2% in December following a 2% drop in the preceding month, compared with estimates compiled by Bloomberg for a 0.6% gain.
Consumer confidence, due at 10 am ET, is seen recovering to 105.7 in January from 104.7 in December.
In other world markets, Japan’s Nikkei closed 1.4% lower, Hong Kong’s Hang Seng ended 0.1% higher in a shortened session, while the Chinese market was closed for holiday. Meanwhile, UK’s FTSE 100 rose 0.6%, and Germany’s DAX index rose 0.8% in Europe’s early afternoon session.
In equities, shares of Nvidia (NVDA) were nearly 3% higher pre-bell, partially recovering after a 17% slump in the previous session.
On the losing side, HSBC (HSBC) shares fell 1% following multiple media reports that the bank plans to scale back its investment banking operations in Europe, UK and the Americas.
04:37 PM EST, 01/27/2025 — The S&P 500 and the Nasdaq Composite posted sizable losses Monday as concerns regarding potential artificial intelligence competition from a Chinese startup rattled the US technology sector.
The tech-heavy Nasdaq declined 3.1% to 19,341.8, while the S&P 500 lost 1.5% to 6,012.3. The Dow Jones Industrial Average rose 0.7% to 44,713.6. The tech sector sank 5.6%, while utilities dropped 2.3%. Consumer staples paced the gainers.
China’s DeepSeek recently launched a large language model that Wedbush Securities said “rivals” Microsoft (MSFT)-backed OpenAI’s ChatGPT and Meta’s (META) Llama 3.1.
Chip-making giant Nvidia’s (NVDA) shares tumbled nearly 17% Monday, the worst performer on the Dow and among the worst on the Nasdaq. Microsoft shares fell 2.1%, while Meta rose 1.9%. Broadcom (AVGO) slid 17%, among the steepest declines on the Nasdaq, along with Marvell Technology (MRVL) and Micron Technology (MU).
DeepSeek’s AI assistant overtook ChatGPT as the top-rated free app on Apple’s (AAPL) US App Store over the weekend, news outlets reported. The iPhone maker’s shares rose 3.2% Monday, among the best performers on the Nasdaq and the Dow.
While Wedbush called the DeepSeek technology impressive, it doesn’t believe that the firm will ultimately derail the US industry’s path to artificial general intelligence dominance.
AT&T (T) logged better-than-expected fourth-quarter results and reiterated its full-year earnings outlook. The telecommunications giant’s shares jumped 6.3%, the second-top gainer on the S&P 500.
Several major companies are scheduled to report results later this week, including mega-caps Apple, Microsoft, Meta, and Tesla (TSLA).
S&P 500 companies’ latest quarterly earnings have surprised to the upside so far, pointing to “promising” early signs for the reporting season, Oppenheimer Asset Management said Monday.
The US 10-year yield fell 9.1 basis points to 4.53%, while the two-year rate lost 7.7 basis points to 4.20%.
In economic news, new-home sales in the US rose in December, while median prices at the national level picked up both sequentially and annually, government data showed.
“Looking past January, we expect new home sales to improve modestly in 2025, based on our forecast for mortgage rates to decline modestly over the course of the year,” Oxford Economics said.
Texas manufacturing activity unexpectedly rose this month as orders increased, while expectations on the six-month horizon improved, according to the Federal Reserve Bank of Dallas.
West Texas Intermediate crude oil decreased 2.1% to $73.08 a barrel Monday.
A survey by Oxford Economics showed that Donald Trump’s return as US president poses the biggest risk to global economic prospects.
“While geopolitical concerns have declined markedly, two-thirds of businesses judge that the US president’s policies pose a very significant threat to the global economy over the next two years,” the firm said.
Gold dropped 1.2% to $2,773.30 per troy ounce, while silver fell 1.8% to $30.61 per ounce.
09:03 AM EST, 01/27/2025 — US equity futures dropped ahead of Monday’s opening bell, with futures of the technology-heavy Nasdaq Composite leading the losses amid concerns surrounding the artificial intelligence sector.
Dow Jones Industrial Average futures fell 0.7%, S&P 500 futures dropped 2%, and Nasdaq futures were down 3.5%.
Nvidia (NVDA) and other artificial intelligence players were sharply lower after the rapid rise of Chinese artificial intelligence startup DeepSeek, which launched an open-source artificial intelligence model that can potentially run on less-advanced chips.
Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $77.00 per barrel and US West Texas Intermediate 0.7% lower at $74.11 per barrel.
New home sales, scheduled for release at 10 am ET, are expected to have risen to a 669,000 annual rate in December from 664,000 in the preceding month.
In other world markets, Japan’s Nikkei closed 0.9% lower, Hong Kong’s Hang Seng ended 0.7% higher, and China’s Shanghai Composite finished 0.06% lower. Meanwhile, the UK’s FTSE 100 fell 0.2%, and Germany’s Dax index dropped 0.8% in Europe’s early afternoon session.
In equities, Nvidia shares fell 12% pre-bell, while ASML (ASML), Advanced Micro Devices (AMD), Broadcom (AVGO), and Micron Technology (MU) were also down between 4% to 10% amid the DeepSeek threat. Microsoft (MSFT) shares fell 4% after Reuters reported that more Indian news outlets joined a copyright lawsuit against OpenAI.
On the winning side, Aurora Mobile (JG) shares were up over 170% after the company said its business-oriented AI agent platform GPTBots.ai has integrated the DeepSeek R1 large language model. Akero Therapeutics (AKRO) stock increased more than two-fold after the company said its phase 2b trial of a drug candidate for biopsy-confirmed compensated cirrhosis showed “statistically significant” preliminary results.
04:34 PM EST, 01/24/2025 — US benchmark equity indexes closed lower Friday as markets assessed the latest economic data, including a survey showing a drop in consumer sentiment and an increase in inflation expectations.
For the week, the Dow rose 2.2%, while the S&P 500 and the Nasdaq added 1.7% each.
In economic news, US consumer sentiment declined for the first time in six months as one- and five-year inflation expectations increased, a survey by the University of Michigan showed Friday.
“Currently, it seems that respondents identifying as Democrats are expecting extraordinarily high inflation from Trump’s policy proposals, while those identifying as Republicans are in wait-and-see mode, both due to uncertainty about tariffs,” Jefferies said in a note.
US private-sector output growth eased in January amid a slowdown in the services sector, S&P Global (SPGI) said. Year-ahead expectations remained high on optimism around the Trump administration’s policies, according to the report.
“Higher input cost and selling price inflation was broad-based across goods and services and, if sustained, could add to worries that a combination of robust economic growth, a strong job market, and higher inflation could encourage a more hawkish policy approach from the (Federal Reserve),” S&P Global Market Intelligence Chief Business Economist Chris Williamson said.
Existing home sales in the US rose more than expected in December, logging the biggest year-over-year increase since June 2021, according to data released by the National Association of Realtors.
“We expect sales in 2025 to hover around the late-2024 pace, but see some risk to the upside if mortgage rates decline as we expect,” Oxford Economics said.
The US two-year yield fell 1.9 basis points to 4.27% Friday, while the 10-year rate lost 1.8 basis points to 4.62%.
In company news, Texas Instruments (TXN) shares slid 7.5%, the worst performer on the S&P 500 and the Nasdaq, after the company issued a downbeat first-quarter earnings outlook late Thursday.
Microchip Technology (MCHP) was the second-worst performer on the Nasdaq and among the worst on the S&P 500 Friday, down 5.3%, as B. Riley adjusted its price target on the stock to $85 from $93.
NextEra Energy (NEE) shares jumped 5.2%, the top gainer on the S&P 500. The company reaffirmed its 2025 adjusted per-share earnings outlook after logging higher fourth-quarter bottom-line results year over year.
Novo Nordisk (NVO) said its investigative weight loss drug, amycretin, led to a body weight reduction of up to 22% in an early-stage trial. The Danish pharmaceutical giant’s US-listed shares surged 8.5%.
West Texas Intermediate crude oil was fractionally lower at $74.60 a barrel.
Gold gained 0.5% to $2,777.60 per troy ounce, while silver added 0.8% to $31.08 per ounce.
04:39 PM EST, 01/24/2025 — US equity indexes rose this week as Netflix’s (NFLX) earnings aided risk appetite while President Donald Trump announced a $500 billion artificial intelligence infrastructure program and alleviated concerns over harsh trade tariffs.
- The S&P 500 closed at 6,101.24 on Friday, versus 5,966.66 a week earlier and the Nasdaq Composite stood at 19,954.30 compared with 19,630.20 the week prior. The Dow Jones Industrial Average stood at 44,424.25 versus 43,487.83 a week ago. The S&P 500 made two new intraday record highs this week, while the Dow and the Nasdaq traded close to their all-time peaks.
- Communication services and technology topped sector charts. Arm Holdings (ARM), Oracle (ORCL), and Microsoft (MSFT) were among the top mega-cap outperformers. Nvidia (NVDA) and Broadcom (AVGO) also contributed strongly to market gains.
- Netflix boosted risk sentiment after reporting subscriber growth and earnings well above market expectations.
- SoftBank, OpenAI, Oracle, and MGX are the initial equity funders of Stargate, the AI infrastructure project unveiled by Trump. Arm, Microsoft, and Nvidia are among the key technology partners.
- Trump stopped short of announcing fresh import duties this week but said his administration plans to impose 25% tariffs on Mexico, Canada, and China, possibly from Feb. 1. Tariffs will likely come slower than anticipated or at least implemented more tactically to secure better trade deals, cooperation on ending illegal immigration, and deter military conflict, as opposed to implementing a “one size fits all” strategy, Stifel Chief Economist Lindsey Piegza said.
- The US dollar index fell 0.5% to 107.46 late Friday, its lowest in about five weeks, as Trump advocated lower oil prices and inflation while calling for a cut in interest rates. He also told Russian President Vladimir Putin to end the war in Ukraine or face new sanctions.
09:29 AM EST, 01/24/2025 — US stocks look set to open slightly lower in Friday’s trading session as investors await manufacturing and services data, as well as existing home sales figures set for release later in the morning.
The Dow Jones Industrial Average futures were down 0.30%, S&P 500 futures declined 0.10%, and Nasdaq futures were off 0.12%.
Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.60% and 0.47% respectively.
In other world markets, Japan’s Nikkei edged 0.07% lower, Hong Kong’s Hang Seng climbed 1.86%, and China’s Shanghai Composite was up 0.70%. Meanwhile in Europe’s early afternoon session, the UK’s FTSE 100 was off 0.34%, while Germany’s DAX and France’s CAC gained 0.14% and 0.63% respectively.
The Manufacturing Purchasing Managers’ Index, which measures the activity level of purchasing managers in the manufacturing sector, is expected to rise to 49.8 in January from 49.4 the previous month, according to Bloomberg. A reading above 50 implies the manufacturing sector is expanding, while a reading below 50 indicates contraction.
The services PMI reading, which is released by Markit Economics, is expected to decline to 56.4 in January from 56.8 in December but remain above the 50-point threshold marking expansion from contraction, according to Bloomberg
And existing home sales figures for December are expected to increase to 4.19 million from 4.15 million a year earlier, according to Bloomberg.
In equities, shares of Allurion Technologies (ALUR) soared 370% after the company said overnight that it plans to initiate a combination clinical study to improve muscle mass and overall body composition. Evaxion Biotech (EVAX) shares shot up 91%, piling on to a 53% gain on Thursday. Starbox Group’s (STBX) stock jumped 74%, more than erasing an 18% loss the previous session. Shares of CKX Lands (CKX) surged 17% after a 1.6% loss Thursday. And Twilio (TWLO) shares jumped 21% after Baird upgraded it to outperform from neutral and raised its price target to $160 from $115.
On the losing side, shares of Snow Lake Resources (LITM) plunged 30% after it said late Thursday it priced a best-efforts offering of 16 million shares at $1 per share for expected gross proceeds of $16 million. Hyzon Motors’ (HYZN) stock tumbled 34% after it said late Thursday that that its stock will be delisted from Nasdaq. Sprott Focus Trust (FUND) shares shed 1%, adding to a slight decline the previous session. Jupiter Neurosciences’ (JUNS) stock dropped 15%, adding to a 60% loss the previous day. And shares of Ctrl Group (MCTR) fell 12%, paring back its 57% gain from Thursday.
04:36 PM EST, 01/23/2025 — The S&P 500 closed at an all-time high Thursday, while oil fell as markets analyzed President Donald Trump’s remarks on interest rates and oil prices.
The S&P 500 rose 0.5% to 6,118.7, while the Dow Jones Industrial Average jumped 0.9% to 44,565.1. The Nasdaq Composite increased 0.2% to 20,053.7. All sectors closed higher, led by health care and industrials.
Trump said he’s going to ask Saudi Arabia and the Organization of the Petroleum Exporting Countries to bring down the cost of oil.
“If the price came down, the Russia-Ukraine war would end immediately,” he said while speaking remotely at the World Economic Forum in Davos, Switzerland. “With oil prices going down, I’ll demand that interest rates drop immediately, and likewise, they should be dropping all over the world.”
West Texas Intermediate crude oil slipped 1.6% to $74.20 a barrel.
Commercial crude stockpiles in the US posted a bigger draw than projected last week, government data showed.
In company news, GE Aerospace (GE) shares jumped 6.6%, the second-best performer on the S&P 500, after the company delivered a fourth-quarter beat.
Union Pacific’s (UNP) fourth-quarter earnings growth surpassed views, while flat freight revenue contributed to a top-line miss as the railroad operator said it remains on track to meet targets outlined in September. Its shares increased 5.2%, among the top gainers on the S&P 500.
Electronic Arts (EA) was the worst performer on the S&P 500 and the Nasdaq, down nearly 17%. Late Wednesday, the company reported preliminary fiscal third-quarter revenue that fell short of market expectations.
Leidos (LDOS) said Thursday it received a follow-on contract from the Transportation Security Administration to maintain 12,000 units of transportation security equipment at more than 430 airports in the US and its territories. The company’s shares dropped 7.6%, the second-steepest decline on the S&P 500.
The US 10-year yield rose 4.9 basis points to 4.65%, while the two-year rate fell less than one basis point to 4.29%.
In economic news, manufacturing declines in the US Midwest region held steady this month, while the expected pace of growth cooled, the Federal Reserve Bank of Kansas City said.
Applications for unemployment insurance in the US rose more than expected last week, while continuing claims reached their highest level since November 2021, government data showed.
Gold fell 0.4% to $2,760.90 per troy ounce, while silver dropped 1.9% to $30.84 per ounce.
08:49 AM EST, 01/23/2025 — Traders cautiously treaded water Thursday after days of euphoria in the wake of the inauguration of President Donald Trump and a flurry of pro-business policy announcements.
Dow Jones Industrial Average futures were up 0.1%, while S&P 500 futures declined 0.1% and Nasdaq futures fell 0.4%.
Oil prices stayed mostly flat after days of declines, with the front-month global benchmark North Sea Brent up 0.1% to $79.05 per barrel and US West Texas Intermediate crude up less than 0.1% to $75.46 per barrel.
Traders were zeroing in on weekly jobless claims reports to be released before the opening bell. Analysts expect claims to be nearly flat at 218,000 after a larger-than-expected jump of 14,000 to 217,000 a week ago.
After the bell, investors will be watching weekly updates on natural gas prices, petroleum reserves, and the Federal Reserve balance sheet scheduled for later in the day.
Among the big companies releasing earnings today are GE Aerospace (GE), railway giant Union Pacific (UNP) and CSX (CSX), and copper producer Freeport McMoran (FCX)-as well as dozens of more large-cap companies reporting Q4 numbers.
Asian stock markets were mixed, with Japan’s Nikkei 225 up around 1%, Hong Kong’s Hang Seng down 0.4%, and China’s Shanghai Composite finishing up 0.5%.
European bourses inched up, with the UK’s FTSE 100 up 0.2%, and Germany’s DAX up 0.3% in the early afternoon session.
In equities, shares of luxury apparel maker Vince Holding (VNCE) were up 48% pre-bell following news of the acquisition of a majority stake by investor P180. Vigil Neuroscience (VIGL) was up more than 11% after reporting positive results of its potential Alzheimer’s treatment.
Among losers, American Airlines (AAL) shares fell more than 9% despite a Q4 earnings report that beat earnings expectations.
04:33 PM EST, 01/22/2025 — US benchmark equity indexes closed higher Wednesday with the S&P 500 and the Nasdaq Composite getting a boost from a post-earnings rally in Netflix (NFLX) shares.
The technology-heavy Nasdaq jumped 1.3% to 20,009.3, while the S&P rose 0.6% to 6,086.4. The Dow Jones Industrial Average increased 0.3% to 44,156.7. Tech and communication services were the only sectors to post gains. Utilities posted the steepest decline.
In company news, Netflix shares jumped 9.7%, the biggest gain on the S&P 500 and the second-largest on the Nasdaq. The streaming giant’s Q4 results exceeded Wall Street’s estimates with a record addition of new subscribers.
Netflix’s latest price hikes are expected to drive revenue growth this year, while its ad tier is seen accelerating sales in 2026, Wedbush Securities said.
Nvidia (NVDA) shares increased 4.4%, the top gain on the Dow, followed by Microsoft (MSFT), up 4.1%. Oracle (ORCL) was among the top gainers on the S&P, up 6.8%, while Arm (ARM) surged 16%, the biggest increase on the Nasdaq.
On Tuesday, Japan’s SoftBank and Microsoft-backed OpenAI said a new company called Stargate plans to invest $500 billion over the next four years building new artificial intelligence infrastructure for OpenAI in the US.
SoftBank, OpenAI, Oracle and MGX are the initial equity funders in Stargate, while Arm, Microsoft, Nvidia, Oracle and OpenAI will be the key initial technology partners.
Home Depot (HD) announced new partnerships with Uber (UBER) and DoorDash’s (DASH) delivery services, expanding one-hour delivery options. The home improvement retailer’s shares decreased 2%, the biggest decline on the Dow. Uber rose 0.1%, while DoorDash lost 0.2%.
Johnson & Johnson’s (JNJ) Q4 results topped market expectations, while the health-care products conglomerate anticipates results in 2025 will increase. The shares still fell 1.9%, the second-steepest decline on the Dow.
The US 10-year yield rose 3.1 basis points at 4.61%, while the two-year rate advanced 2.1 basis points to 4.30%.
In economic news, the income required to afford asking rents for a US apartment fell to the lowest since March 2022, Redfin (RDFN) said.
“Rental affordability will continue improving this year, as wages grow and rents remain flat, thanks to the recent boom in apartment construction,” said Sheharyar Bokhari, the real estate brokerage’s senior economist.
Mortgage applications in the US were little changed last week as 30-year fixed interest rates remained around 7%, the Mortgage Bankers Association said.
West Texas Intermediate crude oil fell 0.5% to $75.43 a barrel Wednesday.
Gold gained 0.3% to $2,766.70 per troy ounce, while silver dropped 0.3% to $31.39 per ounce.
09:13 AM EST, 01/22/2025 — US equity futures advanced pre-bell as traders overlooked mixed earnings reports and focused on President Trump’s $500 billion plan to boost US artificial intelligence infrastructure.
Dow Jones Industrial Average futures and S&P 500 futures moved up 0.3%, while tech-heavy Nasdaq futures advanced 0.6%.
Oil prices continued to slide after Tuesday’s losses, with the front-month global benchmark North Sea Brent down 0.1% to $79.19 per barrel and US West Texas Intermediate crude down 0.2% to $75.71 per barrel.
On the economic calendar, investors are looking ahead to the 10 am ET release of the Index of Leading Indicators, a monthly composite of 10 economic measures that aims to predict general economic conditions. Analysts expect December index to decline slightly.
Traders also focused on earnings reports Wednesday from big pharma companies, including, Johnson & Johnson (JNJ), Abbott Laboratories (ABT), and GE Vernova (GEV).
Trump announced on Tuesday a private-sector investment initiate of up to $500 billion to build AI infrastructure involving Microsoft-baked (MSFT) OpenAI, Oracle (ORCL), and SoftBank.
Asian stock markets were mixed, with Japan’s Nikkei 225 up 1.6% following the disclosure of SoftBank’s role in the US AI plan, Hong Kong’s Hang Seng down 1.6% and China’s Shanghai Composite finishing down 0.9%.
European bourses were mostly in the black, with the UK’s FTSE 100 up 0.2%, and Germany’s DAX up 1.2% in the early afternoon session.
In equities, shares of AI and quantum computing stocks advanced pre-bell, with Oracle up more than 10%, Nvidia (NVDA) up 3%, Rigetti Computing (RGTI) up 2.1%, D-Wave Quantum (QBTS) up 12%, and Quantum Computing (QUBT) up 8%.
Among decliners, Abbott Laboratories fell more than 2% following Q4 sales results that fell short of analyst expectations.
04:32 PM EST, 01/21/2025 — US benchmark equity indexes closed higher Tuesday, while oil prices dropped as markets digested President Donald Trump’s initial agenda items.
The Dow Jones Industrial Average rose 1.2% to 44,025.8, while the S&P 500 gained 0.9% to 6,049.2. The Nasdaq Composite increased 0.6% to 19,756.8. Barring energy, all sectors closed higher, led by industrials.
US markets were closed Monday in observance of Martin Luther King Jr. Day.
Trump’s inauguration ceremony was held Monday. He outlined various agenda items for his administration, including higher tariffs and stricter immigration restrictions, according to Stifel.
“While the administration is widely expected to follow through on increasing the burden on foreign exporters, the use of tariffs is likely to be implemented more slowly than previously anticipated or at least in a more tactical manner in order to secure better trade deals or cooperation on ending illegal immigration or to deter military conflict, as opposed to implementing a ‘one-size-fits-all’ strategy,” Stifel said in a note to clients.
West Texas Intermediate crude oil dropped 2.6% to $75.89 a barrel Tuesday.
“In line with his election promises, Trump declared a national energy emergency and set out a general policy direction aimed at accelerating domestic oil and gas supply, immediately revoking former President Joe Biden’s pause on new liquefied natural gas permitting,” Rystad Energy said in a report.
The US 10-year yield fell 4.1 basis points to 4.57%, while the two-year rate was little changed at 4.27%.
In company news, 3M (MMM) logged better-than-expected fourth-quarter results and forecast earnings to be higher in 2025 than the previous year. The industrial conglomerate’s shares jumped 4.2%, the top gainer on the Dow.
Prologis (PLD) was among the best performers on the S&P 500, up 7.1%, after the logistics real estate investment trust’s fourth-quarter core funds from operations surpassed market expectations.
Walgreens Boots Alliance (WBA) shares slumped 9.2%, the steepest decline on the S&P 500. The drugstore chain is facing a lawsuit by the US Department of Justice over its alleged improper dispensing of opioids.
Apple (AAPL) was the worst Dow performer and the second-worst on the Nasdaq, down 3.2%, as Jefferies and Loop Capital downgraded the stock.
Separately, Bloomberg News reported that the technology giant’s iPhone sales declined around 18% in China in the December quarter, according to an independent research firm.
In economic news, US home prices in December recorded their biggest annual increase in almost a year, with all 50 of the most populous metropolitan areas tracked by Redfin (RDFN) seeing year-over-year gains for the first time since May 2022, the real estate brokerage said in a report.
Gold rose 0.3% to $2,756.00 per troy ounce, while silver advanced 1.2% to $31.52 per ounce.
08:47 AM EST, 01/21/2025 — Traders drove up equity futures in Tuesday’s premarket in the first trading session following the inauguration of President Donald Trump.
Dow Jones Industrial Average futures, S&P 500 futures and Nasdaq futures were up 0.4%.
Oil prices slid, with the front-month global benchmark North Sea Brent crude down 1.7% to $78.83 per barrel and US West Texas Intermediate crude down 2.4% to $75.99 per barrel.
The price drop followed Trump’s first-day executive orders invoking a national energy emergency meant to clear away hurdles to increased domestic energy exploration and production.
“The inflation crisis was caused by massive overspending and escalating energy prices,” Trump said in his inaugural address. “We will drill, baby, drill.”
Around the world, Asian stock markets mostly advanced, with Japan’s Nikkei 225 up 0.3%, Hong Kong’s Hang Seng rising 0.9%, and China’s Shanghai Composite finishing down less than 0.1%.
European bourses slid, with the UK’s FTSE 100 down less than 0.1%, and Germany’s DAX down less than 0.1% in the early afternoon session.
In equities, shares of Innovate (VATE) advanced 44% pre-bell following news Friday that the US Food and Drug Administration has approved its MediBeacon platform for the assessment of kidney function.
Shares of chip stocks Nvidia (NVDA) and Intel (INTC) were also gaining following Trump’s decision to rescind executive orders to place limits on AI technologies. Tesla (TSLA) advanced more than 1% a day after Chief Executive Elon Musk’s headline-grabbing visibility at inauguration events.
Among losers, shares of Trump Media and Technology Group (DJT) fell 6% pre-bell after surging in days before its namesake’s ascendance to the presidency.
A quiet economic news calendar on Tuesday and Wednesday of this week precedes market-moving reports Thursday and Friday on jobless claims, existing home sales, consumer sentiment, and manufacturing.
09:04 AM EST, 01/17/2025 — Traders were upbeat ahead of the opening bell Friday as they looked to economic data showing modest improvements in housing starts, expected improvements industrial production, and a long Martin Luther King, Jr. holiday weekend capped by the inauguration of President-elect Donald Trump.
Dow Jones Industrial Average futures edged up 0.6%, while S&P 500 futures increased 0.7%, and Nasdaq futures moved ahead 1.0%
Oil prices were mostly steady, with the front-month global benchmark North Sea Brent crude down 0.2% to $81.14 per barrel and US West Texas Intermediate crude flat at $78.68 per barrel.
December housing starts beat expectations with a 1.499 million annualized rate, compared to the 1.33 million consensus, up from a 1.264 million in November. December housing permits increased to 1.483 million, beating expectation’s of 1.46 million.
The Federal Reserve’s December index of industrial production, set for release at 9:15 am ET, is expected to show an increase of 0.3%, with manufacturing seen bouncing 0.4 percent, after several weak months. Capacity utilization is expected to grow to 77.0%, up from an unexpectedly low 76.8% in November.
Traders will also be watching the Baker Hughes North American rig count, a measure of oilfield activity and energy demand, due for release at 1 pm ET, and the November Treasury International Capital report, which tracks the flow of capital in and out of the US and serves as a measure of the dollar’s strength, at 4 pm ET.
Asian stock markets were mixed, with Japan’s Nikkei 225 down 0.3%, Hong Kong’s Hang Seng rising 0.3%, and China’s Shanghai Composite finishing 0.2% higher.
European bourses were performing strongly, with the UK’s FTSE 100 up 1.3%, and Germany’s DAX index advancing 1% in the early afternoon session.
In equities, shares of fintech firm Nukkleus (NUKK) were up more than 62% in the premarket after the company regained compliance with Nasdaq listing rules. Shares of electric car maker Rivian (RIVN) advanced 3% and solar energy company Zeo Energy (ZEO) more than 41% following reports that the outgoing Biden administration was racing to support clean energy companies ahead of its departure.
Among losers, shares of quantum computing firms continued their topsy-turvy ride with IonQ (IONQ) and Rigetti Computing (RGTI) down 3.5% and 5.1%, respectively.