Wall Street Index Extend Rally to Second Consecutive Week

Barry Adams
24 Jan, 2025
New York City

Wall Street indexes were little changed in Friday's trading as investors reviewed the latest batch of mixed earnings and debated the future rate path amid resurgent inflation. 

The S&P 500 index gained 0.04%, and the Nasdaq Composite advanced 0.2%, and investors looked ahead to the Federal Reserve's rate decisions next week. 

The Federal Reserve is widely anticipated to hold rates steady at the end of its two-day policy meeting ending on January 29. 

Investors are looking forward to the Fed's estimates on inflation, GDP, and the jobless rate for 2025. 

Despite positive market enthusiasm on Wall Street, inflationary forces are expected to remain strong in 2025, largely because of the steady increase in services prices and a rebound in energy prices from a lower base in the previous year. 

The Federal Reserve may be forced to keep higher interest rates for longer, and odds are rising that the central bank may be forced to consider an increase in rates in the second half. 

Investors reacted to a fresh batch of mixed earnings from leading companies, including results from Boeing Company, CSX, Union Pacific, American Airlines, Texas Instruments, and Ericsson. 

 

U.S. Stock Movers 

Boeing Company declined 1% to $176.66 after the aviation company released preliminary fourth-quarter results. 

CSX Corp. decreased 4.2% to $32.25 after the railroad operator reported weaker-than-expected revenue in the fourth quarter. 

Texas Instruments decreased 4.9% to $191.28 after the advanced semiconductor company's current quarter earnings outlook disappointed some investors. 

Twilio Inc. jumped 20% to $136.13 after the cloud communication software services provider estimated strong revenue growth in the years ahead. 

The company also announced a $2 billion stock repurchase plan, supported by rising earnings and free cash flow. 

American Express increased 1% to $324.90 after the charge card company posted record revenue in 2024.