Traders at the New York Stock Exchange were active during the opening bell as the indexes showed a positive start to the New Year. The market opened with hopes of reversing a four-day losing streak, with notable movements in the shares of tech giants like Nvidia and Broadcom. However, Tesla saw a decline in its stock following disappointing delivery figures.
The Dow Jones Industrial Average saw an increase of nearly 200 points, while both the S&P 500 and the Nasdaq Composite also made modest gains. Bond yields decreased, with the 10-year Treasury yield dropping by two basis points to 4.555%.
Chipmakers such as Nvidia and Broadcom experienced gains, alongside crypto-related stocks like MicroStrategy. On the other hand, Tesla suffered a decline of over 6% due to its first annual drop in deliveries.
The market’s positive momentum at the start of the year came after a series of losses during the final trading days of the previous year. Despite this, the S&P 500 managed to surge by 23%, securing back-to-back annual gains exceeding 20%.
These market rebounds have reignited hopes for a traditional Santa Claus rally, a period known for positive market performance that extends from the last five trading days of the year into the first two days of January.
Analysts remain optimistic about the year ahead, foreseeing continued growth in 2025, albeit at a more gradual pace. The average 2025 year-end price target for the S&P 500 stands at 6,539, implying a potential gain of approximately 11% from current levels.
Unexpectedly, initial jobless claims dropped to 211,000 last week, a decrease of 9,000 from expectations of 222,000 claims for the same period.
As of the 9:30 a.m. opening bell on Thursday, the indexes in the U.S. were positioned as follows:
– S&P 500: 5,902.13, up 0.34%
– Dow Jones Industrial Average: 42,736.90, up 0.45% (+192.05 points)
– Nasdaq Composite: 19,322.30, up 0.06%
Additionally, notable movements were observed in various sectors:
– The 10 best-performing S&P 500 stocks in 2024
– Three crypto billionaires saw significant net worth gains during the market’s strong performance in 2024
– Goldman Sachs predicts positive trends for 2025, including rate cuts, robust employment figures, and lower prices
In the commodities market:
– West Texas Intermediate crude oil increased by 2% to $73.17 per barrel
– Brent crude, the global benchmark, rose by 1.8% to $76.05 per barrel
– Gold saw a gain of 0.8%, reaching $2,662 per ounce
– The 10-year Treasury yield fell by two basis points to 4.555%
– Bitcoin’s value rose by 3
