24/01/2025 Daily Reports
S&P 500 Closes at Record High
Trump Pushes for Lower Oil Prices and Interest Rates
- At the World Economic Forum, President Donald Trump made a bold move by calling for immediate cuts to interest rates and oil prices.
- He even hinted at discussing this directly with Fed Chair Jerome Powell.
S&P 500 Hits Record High
- The S&P 500 closed at 6,118, surpassing its previous record from December 2024. Once again, markets seem to be energized by the “Trump effect.”
Impact on Oil and Treasury Yields
- Trump’s remarks sent oil prices lower while the 10-year Treasury yield climbed to 4.646%. The market remains highly sensitive to any policy-related signals.
Upcoming Federal Reserve Meeting
- With the Fed meeting just around the corner, Trump’s comments add an intriguing layer of complexity.
- While markets expect rates to remain unchanged, any surprising remarks from Fed officials could change the narrative.
Earnings Season Kicks Off
- Mega-cap tech companies like Apple, Meta, and Tesla are set to report earnings next week.
- So far, 78% of companies have beaten expectations, which is a strong start to the season.
US Job Market Update
- Initial jobless claims slightly increased to 223,000, but this is unlikely to raise major concerns about the overall health of the labor market.
Whats’ next?
- Trump’s bold remarks once again show his knack for moving markets. But while promises of “lower rates and cheaper oil” might fuel short-term optimism, are they really sustainable in the long run?
- With the Fed meeting next week, the stakes couldn’t be higher. Add to that the earnings reports from tech giants, and we’re set for an exciting week ahead.
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Dollar Hits One-Month Low as Trump Eases Tariff Rhetoric; Stocks Mixed
- The dollar fell to a one-month low, sliding 0.4% on Friday and heading for its biggest weekly drop in 14 months, after President Donald Trump signaled a softer stance on tariffs against China.
- In an interview, Trump expressed a preference to avoid imposing tariffs on the world’s second-largest economy.
- While European and Asian stocks rallied, US equity futures fluctuated following the S&P 500’s record high.
- Gold neared a record high, trading around $2,781 per ounce, as investors sought safe-haven assets.
- The yen strengthened after the Bank of Japan raised interest rates for the first time since July, with Governor Kazuo Ueda leaving future hikes on the table.
- Analysts noted that Trump’s early actions and rhetoric have so far bolstered market confidence, with financial assets generally responding positively.
