Stocks are up due to short covering, tech stock strength, and potential market-friendly legislation support from Trump.

From Nasdaq: 2025-01-03 11:43:23

The S&P 500, Dow Jones, and Nasdaq are all up today. Markets are higher on short covering and tech stock strength. President-elect Trump’s support for a new Speaker of the House could aid market-friendly legislation. Chinese stock concerns drag down global growth prospects. US manufacturing data awaited for market direction.

Interest rates: T-notes up, yield down. European bond yields mixed. German unemployment data beats expectations. ECB expected to cut rates. Megacap tech stocks like Nvidia and Amazon lead market gains. Stock upgrades boost Square, Chewy, PulteGroup, Carlyle Group, and J.B. Hunt Transport.

US Steel down on sale block news. Alcohol stocks down after cancer warning labels. Stellantis NV falls on electric vehicle tax credit changes. Carvana drops on loan portfolio concerns. Adobe leads Nasdaq 100 losers. ACADIA Pharmaceuticals and Red Rock Resorts downgraded by analysts.

No earnings reports today. All information in this article is for informational purposes only. The author does not hold positions in mentioned securities. Market trends and analyst actions impact stock movements.



Read more at Nasdaq: Stocks Climb Ahead of Dec ISM Manufacturing Report