Stocks rally to close out strong week, await Trump policies
Fri January 17, 2025 4:37 PM
After yet another day of positive data showing the strength and resilience of the economy, investors today decided it was time to celebrate on this final market day before Trump begins his second administration. Positive housing news combined with continued good corporate earnings reports plus Fed Governor Waller’s statement yesterday that, given the fact that inflation is expected to continue easing, rate cuts could come sooner and faster after all, for the first time since the rate cut scare started, the odds of a June cut are now above 50%.
All amounted to a big rally right at the outset that once again shot the indexes up a substantial 3-digits which continued all day with the mood now changing to optimism awaiting a flood of new policies under the new administration. The consensus is that we’re getting off to a strong start to the year but, to add a note of caution courtesy of today’s expert from Plante Moran in Southfield, Michigan, “there’s plenty of questions both in terms of fiscal and monetary policy and what the Trump agenda will look like, or what shape it will take.” Volume remains below the 15.6 billion average, today at 14.6 billion.
DJ: 43,153.13 -68.42 NAS: 19,338.29
-172.94 S&P: 5,937.34
-12.57 1/16
DJ: 43,487.83 +334.70 NAS: 19,630.20
+291.91 S&P: 5,996.66
+59.32 1/17
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