NYSE Dow Jones finished today at:

[eskys]

To date, not a single stock has traded in my watchlist, and BBOZ is up. ?SPI wrong here?

 

[bigdog]

Stock market today: Nvidia and other tech stocks win back some of Monday's sharp losses

Rebounding tech stocks drove U.S. indexes higher a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it.

apnews.com

Nvidia and other tech stocks win back some of Monday’s sharp losses​

By STAN CHOE
Updated 8:20 AM GMT+11, January 29, 2025

NEW YORK (AP) — Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it.

The S&P 500 climbed 0.9% to claw back more than half of its earlier drop. The Dow Jones Industrial Average added 136 points, or 0.3%, and the Nasdaq composite rallied 2% after sliding 3.1 % the day before.

The spotlight remained on Nvidia, whose chips are powering much of the move into AI and whose stock has become a symbol of the surrounding frenzy. It rose 8.8% after plunging nearly 17% the day before, which was its worst drop since the 2020 COVID crash.

Other AI-related companies also held steadier, including chip company Broadcom, which rose 2.6%. Constellation Energy picked up 1.4% after plummeting nearly 21% on Monday. It had earlier rallied on expectations it will help supply the electricity that vast AI data centers would gobble up.

Such revenues are threatened after DeepSeek, a Chinese company, said it was able to develop a large language model that can perform as well as big U.S. rivals but at a fraction of the cost. That raises questions about whether all the spending expected for AI chips and electricity will need to happen.

AI-related stocks have been Wall Street’s biggest stars in recent years, soaring on expectations that big spending will only continue to grow. The gains, though, also created criticism that the stock prices had simply gone too high, too fast.

It’s still uncertain how much DeepSeek’s development will upend the AI industry. While it could mean less growth in spending than expected for data centers, electricity and chips, it could also boost other areas.

“If AI becomes less expensive to use, we think businesses will adopt it more quickly, making a greater investment in AI software,” according to James Egelhof, chief U.S. economist at BNP Paribas. “We think this acceleration in adoption could mean a rise in software investment that offsets – or even dwarfs – any deceleration in spending on data center structures, hardware and related investment.”

Outside of AI-related industries, stocks held up fairly well on Monday, and they were mixed Tuesday following a set of mixed profit reports.

Royal Caribbean steamed 12% higher after the cruise operator topped analysts’ profit expectations for the end of 2024. It benefited from stronger-than-expected demand from customers booking trips closer to the time of departure. The company also gave a profit forecast for the first three months of 2025 that topped analysts’ expectations.

JetBlue Airways, meanwhile, lost a quarter of its value, 25.7%, despite reporting a milder loss for the latest quarter than analysts expected. The company expects its costs outside of fuel to rise more quickly at the start of 2025 than a key underlying measure of its revenue.

Later this week will come profit reports from some of Wall Street’s most influential companies, including Apple, Meta Platforms, Microsoft and Tesla.

All told, the S&P 500 rose 55.42 points to 6,067.70. The Dow Jones Industrial Average added 136.77 to 44,850.35, and the Nasdaq composite rallied 391.75 to 19,733.59.

In the bond market, which had been driving much of Wall Street’s action before Monday’s upheaval, Treasury yields held relatively steady.

The yield on the 10-year Treasury remained at 4.53%, where it was late Monday. It’s been climbing in recent months as traders pared back expectations for how many cuts the Federal Reserve will deliver to short-term interest rates this year. The U.S. economy remains solid, and worries are high that tariffs and other policies potentially coming from President Donald Trump could put upward pressure on inflation.

A report showing confidence among U.S. consumers wasn’t as strong as economists expected made relatively small waves in the bond market. The more anticipated event will come on Wednesday, when the Federal Reserve will announce its latest decision on interest rates.

The widespread expectation is that it will leave the federal funds rate alone. If that proves true, it would be the first meeting where the Fed did not cut rates to give the economy a boost since it began doing so in September.

In stock markets abroad, indexes were mixed across Europe and Asia.

Japan’s Nikkei 225 lost 1.4% as SoftBank Group Corp. stock extended its losses, sinking 5.2%.

Fuji Media Holdings, rocked by a sex scandal, rose 3% after a marathon news conference by its top executives that lasted more than 10 hours, in which two of them resigned to take responsibility for the scandal. Fuji’s stock price has zigzagged in recent months amid Japanese magazine reports about “a problem” involving an anchorwoman and a Japanese male star. He has subsequently announced his retirement.

ASX 200 expected to Rise​

Australian share market set to rise ahead of quarterly inflation data after a strong night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 36 points or 0.4% higher this morning.

Rebounding tech stocks drove U.S. indexes higher Tuesday, a day after they tumbled on doubts about whether the artificial-intelligence frenzy really needs all the dollars being poured into it.

The S&P 500 climbed 0.9% to claw back more than half of its earlier drop. The Dow Jones Industrial Average added 136 points, or 0.3%, and the Nasdaq composite rallied 2% after sliding 3.1 % the day before.

All told, the S&P 500 rose 55.42 points to 6,067.70. The Dow Jones Industrial Average added 136.77 to 44,850.35, and the Nasdaq composite rallied 391.75 to 19,733.59.


WHAT IS THE BEST WEBSITE TO GET TODAY'S ASX 200 FUTURES NUMBER?

WESTPAC reporting +36 points
https://www.ig.com/au/indices/markets-indices/australia-200 REPORTING +15 POINTS
MARKET SNAPSHOT BELOW IS 0.4%
MARKET WATCH BELOW IS +32 POINTS, BUT IS BEFORE WALL STREET HAS CLOSED

 

[bigdog]

Stock market today: Wall Street slips after the Federal Reserve keeps interest rates steady

U.S. stocks slipped after the Federal Reserve held its main interest rate steady and broke a run of cuts that began in September. The S&P 500 fell 0.5% Wednesday.

apnews.com

Wall Street slips after the Federal Reserve keeps interest rates steady​

By STAN CHOE
Updated 8:17 AM GMT+11, January 30, 2025

NEW YORK (AP) — U.S. stock indexes slipped Wednesday after the Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through easier rates in September.

The S&P 500 fell 0.5% following the Fed’s widely expected decision. The Dow Jones Industrial Average dipped 137 points, or 0.3%, and the Nasdaq composite fell 0.5%.

The reaction was also relatively muted in the bond market following the Fed’s decision, which could hint at rates staying on hold for a while following their swift drop at the end of 2024. Lower rates would help the economy by making it cheaper for U.S. households and companies to borrow, but the downside is they could also give inflation more fuel.

Fed Chair Jerome Powell said after the decision that the central bank could cut rates if inflation were to slow further or if the job market suddenly weakened. But “right now, we don’t see that, and we see things as in a really good place for policy and for the economy, and so we feel like we don’t need to be in a hurry to make any adjustments.”

While Wall Street would almost always prefer lower interest rates, “we would continue to focus on why the Fed won’t cut anytime soon, specifically a strong economy and labor, which bodes well for solid corporate earnings growth,” said Sameer Samana, senior global market strategist at Wells Fargo Investment Institute.

Wednesday’s relatively calm movements for financial markets offered some respite following two days of disruption driven by doubts about the artificial-intelligence boom.

A Chinese upstart, DeepSeek, has raised nearly existential questions for some of the AI industry after saying it developed a large-language model that can compete with the world’s best without having to use top-flight chips.

That casts doubt about whether AI development broadly will require as much spending on chips, vast data centers and electricity as Wall Street and Big Tech had been assuming. That in turn has caused huge swings for stocks across the industry, particularly for Nvidia.

The company, whose stock has almost become a symbol of the AI bonanza, fell 4% Wednesday after plunging nearly 17% Monday and then jumping nearly 9% Tuesday. It was the single heaviest weight dragging the S&P 500 lower, by far.

Big gains for Nvidia and other Big Tech companies had been instrumental in the S&P 500’s rallying to back-to-back yearly gains of more than 20% for the first time since before the millennium. Nvidia alone accounted for more than a fifth of all of the S&P 500’s total return last year.

Elsewhere on Wall Street, Starbucks rose 8.1% after delivering a better profit for the latest quarter than analysts expected. CEO Brian Niccol said the chain is planning to cut its food and beverage offerings by 30% over the course of this year to simplify operations and speed service, part of its efforts to turn the company around.

T-Mobile US rallied 6.3% after topping Wall Street’s expectations for both profit and revenue in the last three months of 2024. It also said it expects to add between a net 5.5 million and 6 million in postpaid customers this year.

Brinker International jumped 16.3% after the company behind Chili’s restaurants delivered better results than expected. CEO Kevin Hochman said Chili’s attracted new customers and that its return customers were coming more frequently.

Railroad operator Norfolk Southern rose 1.8% after beating Wall Street’s profit forecasts. There is also growing optimism that a Republican-controlled Congress could ease restrictions on the industry.

Frontier Group Holdings climbed 5.3% after announcing it would try for a second time to merge with Spirit Airlines, which sought bankruptcy protection late last year. Frontier said the proposed deal would include newly issued Frontier debt and common stock.

Trump Media & Technology Group rose after announcing it would be getting into the financial services business via a partnership with Charles Schwab. TMTG said more details would be released later this year, and what had been a double-digit gain for the notoriously volatile stock shrank to an increase of 6.8%.

On the losing end of Wall Street was Danaher, which fell 9.7% after the life sciences, biotechnology and diagnostics company reported results for the latest quarter that just missed analysts’ expectations.

All told, the S&P 500 fell 28.39 points to 6,039.31. The Dow Jones Industrial Average dipped 136.83 to 44,713.52, and the Nasdaq composite sank 101.26 to 19,632.32.

In the bond market, the yield on the 10-year Treasury held at 4.53%, where it was late Tuesday.

In stock markets abroad, indexes were mixed in Europe. ASML’s stock jumped 5.6% in Amsterdam after announcing strong revenue on demand for its advanced chipmaking tools.

In Asia, where many markets were closed for holidays, Japan’s Nikkei 225 rose 1%

ASX 200 expected to fall​

The Australian share market looks set to fall on Thursday following a poor night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 5 points lower this morning.

U.S. stock indexes slipped Wednesday after the Federal Reserve opted not to cut interest rates for the first time since it began trying to help the economy through easier rates in September.

The S&P 500 fell 0.5% following the Fed’s widely expected decision. The Dow Jones Industrial Average dipped 137 points, or 0.3%, and the Nasdaq composite fell 0.5%.

All told, the S&P 500 fell 28.39 points to 6,039.31. The Dow Jones Industrial Average dipped 136.83 to 44,713.52, and the Nasdaq composite sank 101.26 to 19,632.32.