US Market Commentary

After trending lower over the past several sessions, stocks showed a strong move back to the upside during trading on Friday. The major averages all moved
sharply higher, with the tech-heavy Nasdaq leading the charge.

The major averages pulled back off their best levels in late-day trading but remained firmly positive. The Nasdaq surged 340.88 points or 1.8 percent to
19,621.68, the S&P 500 jumped 73.92 points or 1.3 percent to 5,942.47 and the Dow climbed 339.86 points or 0.8 percent to 42,732.13.

Despite the rebound on the day, the major averages all moved lower for the holiday-interrupted week. The Dow slid by 0.6 percent, while the Nasdaq and the
S&P 500 both fell by 0.5 percent.

The strength on Wall Street came as some traders looked to pick up stocks at relatively reduced levels following recent weakness.

The Nasdaq and the S&P 500 had closed lower for five straight sessions, with the Nasdaq ending Thursday’s trading at its lowest closing level in a month.

However, the major averages remain well off the record highs set in December amid uncertainty about the outlook for the markets following recent
volatility.

Some traders also remained away from their desks following the New Year’s Day holiday on Wednesday, with below average trading activity potentially
exaggerating the upward move.

In U.S. economic news, the Institute for Supply Management released a report showing manufacturing activity contracted at a slower rate in the month of
December.

The ISM said its manufacturing PMI inched up to 49.3 in December from 48.4 in November, although a reading below 50 still indicates contraction.
Economists had expected the index to come in unchanged.

With the unexpected increase, the manufacturing PMI reached its highest level since hitting 50.3 in March 2024.

“While the index remains in contractionary territory, improved new orders, low customer inventories, and the potential for tariffs to pull forward
additional demand should sustain the positive momentum over the near term,” said Matthew Martin, Senior U.S. Economist at Oxford Economics.

Sector News

Technology stocks helped lead the rebound on Wall Street, as reflected by the particularly strong gain posted by the Nasdaq.

Computer hardware and semiconductor stocks turned in some of the tech sector’s best performances, with the NYSE Arca Computer Hardware Index and the
Philadelphia Semiconductor Index surging by 3.1 percent and 2.8 percent, respectively.

Considerable strength was also visible among commercial real estate stocks, resulting in a 1.4 percent gain by the Dow Jones U.S. Real Estate Index.

Oil producer, utilities and housing stocks also saw significant strength, while gold stocks showed a notable move to the downside along with the price of
the precious metal.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. China’s Shanghai Composite Index
tumbled by 1.6 percent, while South Korea’s Kospi surged by 1.8 percent.

Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index slumped by 1.5 percent, the German DAX Index
slid by 0.6 percent and the U.K.’s FTSE 100 Index fell by 0.4 percent.

In the bond market, treasuries moved modestly lower over the course of the session after seeing early strength. Subsequently, the yield on the benchmark
ten-year note, which moves opposite of its price, rose 2.1 basis points to 4.596 percent after hitting a low of 4.539 percent.

Looking Ahead

The Labor Department’s closely watched monthly jobs report is likely to be in the spotlight next week, while reports on service sector activity and
consumer sentiment may also attract attention along with the minutes of the latest Fed meeting.

https://www.howestreet.com/2025/01/while-market-soft-some-individual-stocks-still-hot-mark-leibovit/

https://economictimes.indiatimes.com/news/international/global-trends/mysterious-dense-fog-engulfs-communities-in-us-canada-and-uk-raising-health-concerns/articleshow/116919746.cms

COME ON, DAD. IT’S TIME TO EAT

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LEIBOVIT VR NEWSLETTERS – MONDAY, JANUARY 6, 2024 – SPECULATION RUNNING AMOK, ESPECIALLY IN SMALL STOCKS – A WARNING TO TRADERS

US Market Commentary

The major averages pulled back off their best levels in late-day trading but remained firmly positive. The Nasdaq surged 340.88 points or 1.8 percent to 19,621.68, the S&P 500 jumped 73.92 points or 1.3 percent to 5,942.47 and the Dow climbed 339.86 points or 0.8 percent to 42,732.13.

Despite the rebound on the day, the major averages all moved lower for the holiday-interrupted week. The Dow slid by 0.6 percent, while the Nasdaq and the S&P 500 both fell by 0.5 percent.

The strength on Wall Street came as some traders looked to pick up stocks at relatively reduced levels following recent weakness.

The Nasdaq and the S&P 500 had closed lower for five straight sessions, with the Nasdaq ending Thursday’s trading at its lowest closing level in a month.

However, the major averages remain well off the record highs set in December amid uncertainty about the outlook for the markets following recent volatility.

Some traders also remained away from their desks following the New Year’s Day holiday on Wednesday, with below average trading activity potentially exaggerating the upward move.

In U.S. economic news, the Institute for Supply Management released a report showing manufacturing activity contracted at a slower rate in the month of December.

The ISM said its manufacturing PMI inched up to 49.3 in December from 48.4 in November, although a reading below 50 still indicates contraction. Economists had expected the index to come in unchanged.