From Nasdaq: 2025-01-17 12:56:18

The S&P 500, Dow Jones, and Nasdaq 100 are all up today, with the S&P and Nasdaq at 1-1/2 week highs and the Dow at a 1-month high. Lower T-note yields and strength in chip stocks are driving the market. US economic news is positive, with better-than-expected housing starts and manufacturing production data.

Global markets are optimistic due to strength in China’s economy, with Q4 GDP exceeding expectations. The IMF raised its 2025 global GDP forecast to 3.3%, citing strong US demand. Hawkish comments from the Cleveland Fed President and European bond yield movements are impacting market sentiment.

Bitcoin price surged on news of President-elect Trump’s plan to prioritize crypto. Earnings season is starting, with analysts estimating 7.5% earnings growth for S&P 500 in Q4. The chance of a rate cut at the FOMC meeting is at 1%. Overseas markets are mixed, with the Euro Stoxx 50 hitting a 24-year high.

Stocks like Intel, Lumentum Holdings, and Truist Financial are seeing gains. Chip stocks, including GlobalFoundries and Marvell Technology, are leading the market higher. Cryptocurrency-related stocks are also climbing. On the downside, JB Hunt and Crowdstrike Holdings are among the top losers in the S&P 500 and Nasdaq 100.



Read more at Nasdaq: Stocks Rally on US Economic Strength and US-China Trade Optimism