Stocks stall near record highs as tech retreats: Markets Wrap
Published On Jan 23, 2025, 3:25 AM
Stock markets took a pause as technology shares slipped, following a recent rally that brought the S&P 500 and other benchmarks close to all-time highs. Concerns linger over potential tariffs from the Trump administration on major trading partners, impacting market sentiment. While Treasury yields held steady, Asian markets saw gains due to government support for equities. Investors are awaiting key economic data and earnings reports from major companies.
Stock Forecasts
SPY
Positive
Despite short-term volatility due to geopolitical tensions and mixed signals from the Trump administration, the overall growth momentum in US equities suggests potential for upward movement. However, the retreat in tech stocks might caution investors in that sector for now.
QQQ
Negative
The tech sector is experiencing a temporary setback with recent earnings misses and tariff threats impacting investor sentiment. This could lead to continued volatility in major tech stocks in the coming weeks.
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