Stocks up on tech strength and dovish comments from Fed official, mixed global influences.

From Nasdaq: 2025-01-03 13:26:01

The S&P 500, Dow Jones, and Nasdaq are all up today, with tech stocks driving gains. The market also reacted positively to dovish comments from Richmond Fed President Barkin. T-note yields rose on strong US Dec ISM manufacturing data, influencing Fed policy. Concerns about China’s economic growth are bearish for global prospects.

Overseas, stock markets are down, with China’s Shanghai Composite hitting a 1-1/2 month low. T-note yields rose after the US Dec ISM manufacturing index beat expectations. European bond yields are mixed, and swaps predict a rate cut by the ECB. German unemployment data exceeded expectations.

US stock movers include Nvidia, Amazon, and Tesla, boosted by tech stock strength. Chewy, PulteGroup, and Carlyle Group also saw gains. J.B. Hunt Transport Services and US Steel had notable movements. Alcohol beverage stocks fell after the US Surgeon General’s cancer warning, impacting Molson Coors, Constellation Brands, and Brown-Forman Corp.

Adobe led losers in the Nasdaq 100, while cruise line operators like Carnival and Norwegian Cruise Line Holdings fell due to rising fuel costs. Royal Caribbean Cruises Ltd also saw a decline. Earnings reports for 1/3/2025 are not available.



Read more at Nasdaq: Stocks Moderately Higher on Strength in Megacap Tech Stocks and Dovish Barkin