Stock Market Update Tuesday January 28, 2025 The market recovered from yesterday's decline, with the S&P 500 (SPX) rising nearly 1% and the Nasdaq-100 (QQQs) regaining about half of its previous losses. The Russell 2000 (IWM) also increased, by around 0.5%. Today's rally was widespread, but there were clear differences between areas of strong performance and those experiencing temporary rebounds. Starbucks (SBUX) saw a 4.5% increase in after-hours trading after announcing its earnings. The earnings calendar is busy, with important reports coming from Tesla, Microsoft, Meta, Apple, and others.
Away From Stocks: In the fixed income market, Treasury yields rose slightly, stabilizing after a decline yesterday. WTI crude oil prices increased, approaching $74 per barrel, while gold prices neared their October highs at $2,763 per ounce. However, Bitcoin remained stagnant around $100,000, contrasting with the overall positive trend. The CBOE Volatility Index (VIX) fell below 17, indicating reduced market uncertainty. This early-week volatility sets the stage for important developments in the coming days. The Federal Open Market Committee (FOMC) will announce its decision tomorrow, followed by Chair Powell's press conference at 2:30 PM ET. The week will wrap up with the release of the Personal Consumption Expenditures (PCE) report on Friday, which is a key indicator of inflation and may influence market sentiment.
NVIDIA (NVDA) recovered sharply, climbing 9% after yesterday’s pullback, while other names poised to benefit from the DeepSeek announcement extended gains initiated in the previous session.
