Traders work on the trading floor of the New York Stock Exchange on January 15, 2025 in New York City.
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U.S. stock futures were little changed late Wednesday as the S&P 500 had its best day since November on tepid inflation reports and blowout bank earnings. Traders are also looking for more profits from big banks.
Dow Jones Industrial Average Futures An increase of 26 points, or 0.06%. S&P 500 Index Futures rose 0.03%, while Nasdaq 100 Futures down 0.01%.
30 stocks Dow Chemical It surged more than 700 points, or 1.65%. S&P 500 Index up 1.83%. this Nasdaq Index Outperformed the market, rising 2.45%. small cap Russell 2000 Up about 2%. A rebound in risk appetite was spurred by a modest improvement in core consumer price inflation in December and strong profits from big banks.
this 10-Year U.S. Treasury Bond Yield It was down sharply from a 14-month high hit earlier this week. It finally hovered around 4.65%.
Technology stocks rallied in regular trading, as did the more speculative parts of the market. Tesla and NVIDIA Soared 8% and 3% respectively. Bitcoin It once exceeded $100,000 during the transaction.
“The bond market is starting to price in the risk of further rate hikes, so you get inflation numbers that are a little bit lower than expected, which allows you to see a sharp relief rebound, mainly in the rate-sensitive parts of the market,” said Cards, chief investment officer at NewEdge Wealth. Cameron Dawson said Wednesday on CNBC’s “Closing Bell.”
“That doesn’t mean we’re necessarily out of the woods for companies like small caps, which have been experiencing volatility,” she added. “But the relief is welcome.”
Wall Street will gather more insights on the state of the economy on Thursday. According to the Dow Jones consensus forecast, the December retail sales report is expected to increase 0.5%, down from the 0.7% increase in the previous month.
Morgan Stanley and Bank of America Earnings are scheduled for Thursday, summarizing reports from the big banks.
Elsewhere, President-elect Donald Trump’s pick for Treasury secretary, Scott Bessent, will take his seat before the meeting. U.S. Senate Finance Committee Investors will parse clues about the incoming administration’s tariffs and other policies at a hearing Thursday morning.
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