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. Indexes and Treasury Yields

The S&P 500 indexed increased 0.5% to 6,079.14, the Nasdaq Composite rose 1% to 19,952.92, and the Russell 2000 index edged up by 1.8% to 2,317.97.

The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes increased to 4.58%, and 30-year Treasury bonds declined to 4.80%.

WTI crude oil increased $0.35 to $75.55 a barrel, and natural gas prices edged down $0.01 to $3.79 a thermal unit.

Gold increased by $12.89 to 2,757.43 an ounce, and silver rose by $0.04 to $30.78.

The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.10 to 108.07 and traded at a two-year high.

 

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.