Market Updates
Big Business Optimism Extends Big Rally On Wall Street
Barry Adams
22 Jan, 2025
New York City
Stock market indexes on Wall Street approached or reached record highs amid growing optimism about the weakening of the regulatory regime for big businesses.
The S&P 500 index edged up 0.2%, and the Nasdaq Composite advanced 0.4% after stocks in the energy, technology, and banking sectors continued to advance for the third month in a row.
Strong economic growth data and labor market conditions have supported the market advance over the last six weeks.
Moreover, the optimism about the possible changes in the regulatory framework for big companies in the technology, energy sectors, and financial services has also contributed to the current market enthusiasm.
U.S. Stock Movers
United Airlines jumped 5.6% to $116.70 after the company reported better-than-expected results for the fourth quarter.
Procter & Gamble jumped 3.3% to $167.10 after the consumer goods company reported better-than-expected fiscal second quarter results.
The company also reiterated its annual earnings outlook.
Netflix soared 14.5% to $996.01 after the streaming media company reported better-than-expected revenue and earnings in the fourth quarter and increased paid membership to 300 million.
The company also raised its revenue outlook for 2025.
Halliburton decreased 1.9% to $29.10 after the energy company reported weaker-than-expected revenue in its latest quarter.
Charles Schwab edged slightly lower to $80.83 and the company reported better-than-expected fourth-quarter results a day ago.
Annual Returns
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Earnings
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