Stocks are up, led by chip and energy stocks, but Tesla's drop weighs on tech.

From Nasdaq: 2025-01-02 11:57:27

Stock indexes, including the S&P 500, Dow Jones, and Nasdaq, are all up today, with chip stocks and energy stocks leading the gains. Tesla’s -4% drop weighs on tech stocks. Chinese stocks fall after weak manufacturing data. US markets await the Dec ISM manufacturing index. Mortgage applications are down, and jobless claims hit an 8-month low.

US stock movers include chip stocks like Nvidia and ARM Holdings, as well as energy stocks like APA Corp and Haliburton rising with oil prices. Cloudflare, cryptocurrency-exposed stocks, US Bancorp, and RTX Corp also see movements. Tesla and Apple are among the top losers. Neumora Therapeutics, SoFi Technologies, CareTrust REIT, and Healthcare Realty Trust are down after downgrades.

Earnings reports for Critical Metals Corp, Lifecore Biomedical Inc, and Resources Connection Inc are due on 1/2/2025. Overseas markets are lower, and interest rates are up. The Eurozone’s manufacturing PMI is revised downward. Swaps predict a possible rate cut by the ECB. Stocks are reacting to various factors, including economic data, company news, and analyst upgrades/downgrades.



Read more at Nasdaq: Stocks Climb on Strength in Chip Stocks and Energy Producers