Stock market today: Dow leads weekly stock market rally ahead of Trump inauguration
Published On Jan 17, 2025, 6:35 PM
US stocks made significant gains as tech stocks rebounded, encouraged by positive economic data and earnings reports, along with optimism surrounding potential interest rate cuts. The Dow Jones rose 0.8%, the S&P 500 increased by 1%, and the Nasdaq climbed 1.5%. Economic performance indicators, including housing starts and industrial production, exceeded forecasts, bolstering investor confidence. There is also anticipation regarding the upcoming policies under President-elect Donald Trump, particularly concerning tariffs and cryptocurrency regulations, which could further impact market sentiment. Tech companies like Nvidia and Tesla saw notable stock recoveries, while bitcoin surged past $100,000, positively influencing crypto-linked stocks like Coinbase.
Stock Forecasts
NVDA
Positive
The positive sentiment surrounding tech stocks and the overall market trend suggests a favorable environment for investment in technology sectors. Nvidia's resurgence in particular, given its central role in AI and data centers, could indicate continued growth.
TSLA
Positive
Tesla is experiencing a wave of optimism amidst speculation regarding expansion and policy alignment with Trump, enhancing its attractiveness as an investment opportunity. The stock has already shown remarkable recovery and could continue on this path.
COIN
Positive
The favorable crypto environment, supported by potential policy advancements under Trump, makes Coinbase a strong candidate for growth. With Bitcoin prices rising, the company is well-positioned to benefit from increased trading activity.
NVO
Negative
Given the negative news about Novo Nordisk's price negotiations and market pressures, a bearish outlook on its stock seems valid. The impact of drug price negotiations could lead to further declines in their stock price.
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