Wall Street slips after rally as earnings, data eyed

Wall Street slips after rally as earnings, data eyed

By Chuck Mikolajczak

Thu January 16, 2025 5:16 PM

Yesterday’s ebullience was replaced by today’s caution and continuing uncertainty as the indexes once again swung back and forth between black and red several times, but only modestly so. The Nasdaq took a slightly bigger hit being in the red virtually all day and closing down 3-digits, though all of the losses were just a small fraction of yesterday’s gains. So it was a day to take breath despite a considerable amount of good news which included the big banks, which are the market’s bellwether, still coming in with strong earnings.  

Wall St surges as inflation data, bank earnings fuel rally

Wall St surges as inflation data, bank earnings fuel rally

By Chuck Mikolajczak

Wed January 15, 2025 4:53 PM

Yesterday’s PPI wasn’t enough to change the needle but today’s CPI sure as heck was. It didn’t seem to matter that the numbers still came in with its highest increase in nine months, but still lower than expected. The fact that it wasn’t on fire triggered an enormous rally at the outset that continued all day with all three indexes enjoying 3-digit gains, the biggest in two months, the Dow up over 700. The Fed Beige Book showed economic activity increased slightly which immediately increased the odds for a June rate.  

S&P 500 edges higher, Nasdaq dips in choppy session as inflation data eyed

S&P 500 edges higher, Nasdaq dips in choppy session as inflation data eyed

By Chuck Mikolajczak

Tue January 14, 2025 7:08 PM

In a very choppy session swinging back and forth between black and red at least four times, investors sit on pins and needles waiting for this week’s inflation data, given a bit of a reprieve today with PPI coming in a little lower than expected but not low enough to move the needle on rate cut expectations which remain today at a 50% chance of a ¼ point rate cut no earlier than June, and nothing after that. With the much more closely watched CPI and Beige Book coming in starting tomorrow, reevaluations may be coming then. Or more likely, more of the same.  

Nasdaq closes lower, S&P 500 up slightly as US yields stay elevated

Nasdaq closes lower, S&P 500 up slightly as US yields stay elevated

By Chuck Mikolajczak

Mon January 13, 2025 5:14 PM

The resilient economy combined with rising prices continues to push up bond yields and lower hopes for more rate cuts which are today down to just one ¼ point cut this year, perhaps in June, and even that at just 53%. Both the Nasdaq and S&P were in the red all day, all starting well into the red, the Nasdaq down some 330 points in the morning, though rising all day and recovering to only modest losses by close, the S&P even slightly above break-even.  

Treasury yields rise, stock falls pressured by stronger-than-expected US jobs data

Treasury yields rise, stock falls pressured by stronger-than-expected US jobs data

By Chibuike Oguh and Amanda Cooper

Fri January 10, 2025 5:37 PM

It was another good news = bad news day as way above forecasted job numbers threw a very wet blanket on rate cut expectations and caused all the indexes to severely plunge at the outset and stay down all day, both the Dow and Nasdaq into serious 3-digit losses.  It was yet another day when investors were far less interested in good economic news and much more in Fed action. The forecast for the next cut has now been moved from May to June (at earliest) added to doubts that there will another one before year-end.  

Wall Street little changed as investors assess inflation path

Wall Street little changed as investors assess inflation path

By Johann M Cherian, Sukriti Gupta and Carolina Mandl

Wed January 8, 2025 4:32 PM

The market became truly schizophrenic today with severe seesaw action as the indexes bounced back and forth between black and red several times, the Dow itself swinging back and forth between a -200 and +100 all day. The inciting incidents were two conflicting employment reports, one saying payrolls were down, the other saying new jobless claims were also down – so which one do you believe? The other conflict was Trump floating the idea of declaring a national emergency on inflation to enable him to order tariffs that, ironically, are widely feared to spark more inflation.  

Wall Street ends lower as inflation fears mount

Wall Street ends lower as inflation fears mount

By Johann M Cherian, Sukriti Gupta and Carolina Mandl

Tue January 7, 2025 4:34 PM

It was a shot straight down on all the indexes, particularly tech, as inflation concerns came back full force on the front burner again. Not only are Trump’s inflationary tariffs once again front and center after a very brief hiatus yesterday, but unexpected data showing increased job openings and accelerating services activity put a damper on the market’s consensus the economy was slowing down and we were in the final inning on the inflation fight.