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 […]

U.S. Stocks Finish Volatile Session Modestly Lower

Stocks moved notably higher early in the session on Thursday but failed to sustain the upward move and fluctuated over the course of the trading day.

The major averages swung back and forth across the unchanged line in morning trading before sliding more firmly into negative territory in the early afternoon only to regain ground in the latter part of the session.

The major averages eventually ended the day modestly lower. The Dow fell 151.95 points or 0.4 percent to 42,392.27, the Nasdaq dipped 30.00 points or 0.2 percent to 19,280.79 and the S&P 500 slipped 13.08 points or 0.2 percent to 5,868.55.

The early strength on Wall Street came as some traders looked to pick up stocks at relatively reduced levels following the notable downward move seen to close out 2024.

Buying interest waned shortly after the start of trading, however, as a Labor Department report showing an unexpected decline by weekly jobless claims seemingly provides support for the Federal Reserve’s measured approach to lowering interest rates.

The report said initial jobless claims slipped to 211,000 in the week ended December 28th, a decrease of 9,000 from the previous week’s […]