Daily Markets: Can Stocks Keep Their Momentum Going?
From Nasdaq:
Asia-Pacific equity markets mostly finished lower today, with Japan closed for National Day, and markets in China, Hong Kong, Taiwan, and South Korea closed for New Year celebrations. European markets are up, and U.S. equity futures are pointing to a flattish open. No major economic data to start the week, but two Fed speakers are scheduled.
Israeli Prime Minister Benjamin Netanyahu claimed “victory is within reach” as the country continues its bombardment of the Gaza Strip. Congress approved Turkey’s $23 billion acquisition of F-16 Block 70 aircraft and a $95 billion emergency aid bill for Ukraine and Israel. International tensions are reflected in the markets with Energy declining 1.54% and the Dow dropping 0.14%.
Chevron’s drop and Disney’s losses impacted the Dow, but Technology led sector performance with Microsoft and Nvidia gains. Expedia Group fell 17.78% after earnings. The Dow is up 2.61% year-to-date, the S&P 500 up 5.28%, the Nasdaq Composite up 6.52%, and the Russell 2000 down 0.84%. Bitcoin and Ether are up 12.35% and 8.41%, respectively.
Monday.com and Trimble are releasing earnings, with Tesla temporarily cutting U.S. prices for some Model Ys. Joby Aviation shares gained after announcing air taxi services in Dubai by early 2026. A power outage at Applied Digital impacted the company’s revenue, and Diamondback Energy and Endeavor Energy Resources are merging in a $26 billion deal. Three IPOs are set to price this week.
After market close, several companies, including Arista Networks, Avis Budget, and Waste Management are expected to report quarterly results. Looking ahead, economic data releases this week include Japan’s Producer Price Index and GDP, the Eurozone’s ZEW Economic Sentiment Index and Industrial Production, and U.S. CPI, Retail Sales, and Consumer Sentiment Index.
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