Stock market today: S&P 500, Dow rise as Wall Street eyes a new year comeback
Published On Jan 2, 2025, 9:31 AM
On the first trading day of 2025, stock markets showed positive movement. The S&P 500 rose by 0.5%, and the Dow Jones increased by 0.6%. However, the Nasdaq experienced a slight drop. Notably, Tesla shares fell by over 6% after announcing that it delivered about 495,570 vehicles in Q4 2024, falling short of analyst expectations. Apple shares dropped 2% due to price discounts in China, highlighting increased competition. Additionally, upbeat jobs data was reported, but rising mortgage rates to a 6.97% average exert pressure on housing applications.
Stock Forecasts
TSLA
Negative
Despite a strong overall market opening, Tesla's disappointing delivery figures combined with a troubling incident involving its Cybertruck might impact investor sentiment negatively in the short term. Conversely, the general upward trend in the S&P 500 could suggest broader market optimism. However, caution remains warranted given specific company issues.
SPY
Positive
The overall positive market sentiment on the first trading day could indicate a continued recovery trend for the S&P 500 post-holiday. This optimism is fueled by expectations of continued strong performance in tech stocks, which could benefit key players like Nvidia and Amazon.
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