1 week Ago
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ChrisSteer/iStock via Getty Images The benchmark S&P 500 index ( SP500 ) ended lower for the holiday-shortened week as Wall Street's bull run lost some steam. After hefty yearly gains, investors took some money off the table. Additionally, uncertainty over the economic effects of President-elect Donald Trump's policies and the path of future monetary policy weighed on sentiment.
Tuesday marked the final trading day of 2024. The S&P ( SP500 ) eventually posted a massive advance of +23.31% for the year.
It was also the first time the S&P ( SP500 ) delivered back-to-back annual gains of more than 20% since 1998. The bull run in 2024 was driven by several factors, chief among them the Federal Reserve finally starting a rate-cutting cycle, a continued run-up in technology names driven by the artificial intelligence ( AI ) craze, and Trump's divisive election victory. New Year's Day was a holiday, while Thursday was the first trading day of 2025.
Wall Street eventually ended lower to kick off the new year, but history shows that the S&P's ( SP500 ) performance on the first trading day of a year is a poor barometer for its eventual annual performance. Tesla ( TSLA ) garnered a chunk of the spotlight this week amid two separate developments. Firstly, in the early hours of New Year's Day, a Cybertruck exploded outside the Trump International Hotel in Las Vegas.
Then, on Thursday, the company reported its first-ever annual fall in deliveries. For the week, the S&P ( SP500 ) slipped -0.5% , while the blue-chip Dow ( DJI ) fell -0.
6% . The Nasdaq Composite ( COMP:IND ) shed -0.5% .
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Weekly Movement U.S. Indices Dow -0.
6% to 42,732. S&P 500 -0.5% to 5,943.
Nasdaq -0.5% to 19,619. Russell 2000 +0.
9% to 2,265. CBOE Volatility Index +1.1% to 16.
13. S&P 500 Sectors Consumer Staples -1.4% .
Utilities +1.3% . Financials -0.
3% . Telecom -0.3% .
Healthcare flat. Industrials -0.4% .
Information Technology -0.7% . Materials -2.
1% . Energy +3.2% .
Consumer Discretionary -1.5% . Real Estate +0.
6% . World Indices London +0.9% to 8,224.
France -1% to 7,282. Germany -0.4% to 19,906.
Japan -1% to 39,895. China -5.6% to 3,211.
Hong Kong -1.6% to 19,760. India +0.
6% to 79,171. Commodities and Bonds Crude Oil WTI +4.8% to $73.
96/bbl. Gold +1.4% to $2,654.
7/oz. Natural Gas -4.6% to 3.
354. Ten-Year Bond Yield -0.2 bps to 4.
601. Forex and Cryptos EUR/USD -1.14% .
USD/JPY -0.32% . GBP/USD -1.
24% . Bitcoin +2.5% .
Litecoin +10.7% . Ethereum +5.
8% . XRP +11.9% .
Top S&P 500 Gainers Vistra ( VST ) +13% . Constellation Energy ( CEG ) +10% . Devon Energy ( DVN ) +9% .
Diamondback Energy ( FANG ) +8% . APA Corporation ( APA ) +7% . Top S&P 500 Losers Tesla ( TSLA ) -10% .
Brown-Forman ( BF.B ) -8% . Wynn Resort ( WYNN ) -7% .
Best Buy Co. ( BBY ) -6% . Tractor Supply ( TSCO ) -6% .
Where will the markets be headed next week? Current trends and ideas? Add your thoughts to the comments section..
