Indexes end up as investors weigh earnings; tariff talk a damper
Thu January 30, 2025 6:51 PM
After a tepid beginning to the day, triggered mostly by Microsoft announcing a weaker forecast after yesterday’s strong Q4, all the indexes got a boost right around 12:30 brought on by a stack of Q4 reports including Meta and IBM beating forecasts. More than 70% of reporting S&P companies have now beaten forecasts. Investors are also now looking the other way from Tesla’s disappointing Q4 after today’s Musk comments about future Tesla plans helped boost that stock and the market.
There are still abundant concerns about the 25% tariffs on Canada and Mexico coming on Saturday though today Trump backpedaled a bit and now says he hasn’t yet made the final decision. Though the Dow was up nearly 300 as late as 3:30, it took a sudden plunge at that time losing everything, then bounced back just as quickly to regain over half in the space of just 15 minutes. Trading is expected to remain volatile and skittish until there is a clear picture of Trump’s coming policies. Meanwhile, volume remains below the 15.4 billion average, closing today at 13.8 billion.
DJ: 44,713.52 -136.83 NAS: 19,632.32
-101.26 S&P: 6,039.31
-28.39 1/29
DJ: 44,882.13 +168.61 NAS: 19,681.75
+49.43 S&P: 6,071.17
+31.86 1/30
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