Market gave away gains mid-day due to uncertainty, construction spending flat, signaling economic slowdown.

From Nasdaq: 2025-01-02 18:34:00

On the first trading day of the year, the market gave away big gains mid-day due to uncertainty over tariffs, government layoffs, and global economic sluggishness. Construction spending figures for November came in weaker than expected, signaling economic slowdown. Market participants will watch ISM Manufacturing numbers and December auto sales on Friday.

Market participants will attempt to reverse the losing trend on Friday after the end of the “Santa Claus Rally.” ISM Manufacturing numbers are expected to be slightly below the previous month, and December auto sales data will also be released. Check out the Zacks Top 10 Stocks for 2025 for potential investment opportunities.



Read more at Nasdaq: Markets Fail to Stay in the Green, Construction Spending Flat