The S&P and Dow both closed higher after Trump urges lower interest rates

From Nasdaq: 2025-01-23 16:29:24

The Dow and S&P 500 both closed higher, with the S&P hitting another record high and the Dow reaching its highest close since December. Nasdaq struggled due to Nvidia, Amazon, and Tesla. President Trump urged lower interest rates and oil prices at the World Economic Forum in Davos.

Mortgage rates in the US dropped to 6.96% for 30-year loans in December. Retail store closures are increasing at a rapid rate. Electronic Arts stock plummeted due to a FIFA issue. Cloudy forecast overshadowed positive airline earnings. Economic and earnings docket for next week looks promising.

Oil prices dropped for the fifth consecutive session after Trump’s announcement to lower crude costs. Gold futures also fell as the U.S. dollar started to recover. March-dated WTI crude fell to $74.62 per barrel. Gold for February delivery settled at $2,750.30 an ounce, down 0.7%.



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