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S&P 500 clinches first record close of 2025, Dow | Finance news

January 23, 2025

S&P 500 clinches first record close of 2025, Dow

S&P 500 clinches first file close of 2025, Dow | finance news

US shares closed within the inexperienced on Thursday with the S&P 500 (^GSPC) nabbing a contemporary file close as traders stayed attuned to remarks from President Donald Trump, who addressed the World Financial Discussion board in Davos.

The broad based mostly index completed the trading day up over 0.5%, securing its first all-time closing high of 2025. The Dow Jones Industrial Common (^DJI) popped round 0.9%, however was unable to secure its own file, whereas the Nasdaq Composite (^IXIC) recovered from earlier losses to close up about 0.2%.

Nvidia (NVDA) shares capped off the trading day simply above the flatline after its provider SK Hynix (000660.KS) flagged uncertainty about chip demand this yr, which additionally weighed on different associated shares all through the session.

The main focus turned to Trump’s distant speech on the World Financial Discussion board in Davos for more insight into his trade coverage. The president stated he’ll “demand that interest rates drop immediately.” He additionally stated he’ll ask OPEC to convey down the price of oil.

On the tariff entrance, the president supplied a warning to firms. “If you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff — differing amounts, but a tariff.”

Buyers are nonetheless digesting Trump’s early-days coverage charge, which introduced an AI push that invigorated tech names however left unclear when the outlined tariffs on massive trading companions — a risk for inflation and shares — may hit.

Yahoo Finance is on the ground at Davos. See the latest from the world’s business leaders right here.

In the meantime, traders stay targeted on earnings after Netflix (NFLX) set the stage for subsequent week’s Huge Tech flurry.

On the info entrance, US jobless claims elevated by 6,000 to 223,000, official figures launched on Thursday confirmed. Economists had anticipated a studying of 220,000 for the week.

LIVE 17 updates

UnitedHealth Group publicizes substitute of slain government

UnitedHealth Group (UNH) introduced Thursday it is selling the pinnacle of its Medicare health plan business to take over the company’s prime insurance coverage job, beforehand held by slain government Brian Thompson.

In keeping with UNH, Tim Noel will now lead the company’s broader insurance coverage division. He first joined the company in 2007.

Noel “brings unparalleled experience to this role with a proven track record and strong commitment to improving how health care works for consumers, physicians, employers, governments and our other partners,” UNH stated in a assertion.

Thompson was killed outdoors of an investor day assembly in New York Metropolis on Dec. 4. Luigi Mangione was arrested for the homicide days after the assault.

Shares had been up over 1% in late afternoon trading on the heels of the announcement.
Trump to Brian Moynihan: BofA blocks conservatives

Yahoo Finance’s David Hollerith studies:

President Donald Trump confronted Financial institution of America (BAC) CEO Brian Moynihan Thursday over a declare gaining traction in conservative circles: that clients are being ‘de-banked’ for his or her personal beliefs.

“I hope you start opening your bank to conservatives, because many conservatives complain that the banks are not allowing them to do business within the bank, and that included a place called Bank of America,” Trump informed Moynihan during a digital question-and-answer session on the World Financial Discussion board in Davos, Switzerland.

The president additionally appeared to incorporate JPMorgan Chase (JPM) CEO Jamie Dimon in his confrontation. JPMorgan and Financial institution of America are the nation’s two largest banks.

“I don’t know if the regulators mandated that because of Biden or what, but you and Jamie and everybody else, I hope you open your banks to conservatives because what you’re doing is wrong,” Trump added.

Learn more right here.
CNN lays off 6% of its workforce in $70 million digital push

CNN is shedding 6% of its workforce, or roughly 200 staffers, because the cable community goals to rework its newsroom into a digital-first operation.

CNN mother or father company Warner Bros. Discovery (WBD) plans to invest $70 million into the community’s revamp, which incorporates a new direct-to-consumer streaming product and a concentrate on premium digital advert experiences. CNN additionally plans to refresh its web site, bear a main pivot into digital video, and launch a first-of-its-kind lifestyle-oriented digital product.

CNN CEO Mark Thompson stated in a workers memo obtained by Yahoo Finance that jobs can be added as half of the trouble and that regardless of the job cuts, the community does not count on headcount to say no a lot this yr.

“Our objective is a simple one: to shift CNN’s gravity towards the platforms and products where the audience themselves are shifting and, by doing that, to secure CNN’s future as one of the world’s greatest news organizations,” Thompson stated.

Shares of WBD had been little modified on the news. Learn more right here.
Trending tickers on Thursday

These had been the most important movers on Yahoo Finance’s trending tickers web page on Thursday.

Digital Arts (EA)

Digital Arts stock tumbled more than 15% on Thursday after the sport writer stated quarterly bookings fell to roughly $2.22 billion, lacking analyst expectations.

GE Aerospace (GE)

Shares of the jet engine maker jumped practically 7% on Thursday after the company exceeded fourth quarter estimates on each income and earnings.

GE Aerospace additionally gave an optimistic outlook for the total yr 2025 and introduced a $7 billion stock buyback program.

American Airways (AAL)

American Airways stock tumbled after forecasting a shock loss for the primary quarter. The air service initiatives an adjusted loss of as a lot as $0.40 a share for the present quarter. Analysts had been anticipating a revenue of a minimum of $0.01, in accordance with estimates compiled by Bloomberg.

American Airways posted file fourth quarter income of $13.7 billion and file full-year income of $54.2 billion.
Homebuyers backed out of offers at file charge in December

Offers to buy a home fell by means of at a file charge in December as high mortgage charges and housing prices induced consumers to lose religion.

Almost 40,000 home buy agreements had been canceled in December, equal to 16.2% of properties that went below contract that month — the very best share of any December on file, in accordance with Redfin.

Home hunters are having bother committing as a result of housing prices stay costly. In keeping with Freddie Mac, mortgage charges have moved greater over the previous six weeks, however this week the average 30-year fixed mortgage charge fell 8 foundation factors to six.96% from 7.04%.

“Homebuyers pumped the brakes when mortgage rates ticked back up, and are now in wait-and-see mode,” Jesse Landin, a Redfin real estate agent in San Antonio, stated within the Redfin report. “Everyone is just trying to figure out when rates are going to come down again. In the meantime, a lot of house hunters are opting to rent.”

Purchaser urge for food “will likely slow further in January due to the wildfires impacting Los Angeles — the nation’s second most populous metro area — and winter storms impacting the Mid-Atlantic and Southeast,” Redfin senior economist Elijah de la Campa stated within the report.
S&P 500, Dow trade greater as traders digest Trump remarks at Davos

The S&P 500 (^GSPC) and the Dow Jones Industrial Common (^DJI) traded greater on Thursday following President Trump’s distant feedback on the World Financial Discussion board in Davos, Switzerland.

The broad based mostly index gained more than 0.1%, a stone’s throw away from an intraday file. In the meantime the Dow gained as a lot as 0.6%, led by Industrials (XLI).

The tech-heavy Nasdaq Composite (^IXIC), which opened the session decrease, fell 0.3%. Yields on the 10-year Treasury (^TNX) additionally inched up to 4.65%.

Throughout his remarks by way of video at Davos, the president stated he’ll ask OPEC to decrease the price of oil and warned firms that if they do not manufacture within the US, they should pay a tariff.

“If you don’t make your product in America, which is your prerogative, then very simply you will have to pay a tariff — differing amounts, but a tariff.”

The president didn’t point out tariffs particularly in opposition to China, a main producer of items bought within the US.
Oil slides after Trump says he’ll ask OPEC to decrease crude costs

President Trump stated he’ll ask the Group of the Petroleum Exporting Nations (OPEC), led by Saudi Arabia, to convey down the price of oil.

“I’m also going to ask Saudi Arabia and OPEC to bring down the cost of oil. You’ve got to bring it down,” stated Trump during his distant speech on the World Financial Discussion board in Davos, Switzerland.

“If the price came down, the Russia-Ukraine war would end immediately. Right now the price is high enough that that war will continue, you’ve got to bring down the oil price. You’ve got to end that war,” he stated.

Russia, a main producer of oil and gasoline, is an OPEC ally. The cartel at present has manufacturing cuts in place with a purpose to keep a flooring on costs.

Each West Texas Intermediate (CL=F) and Brent (BZ=F) fell roughly 1% following Trump’s feedback.
Trump: ‘I’ll demand that rates of interest drop instantly’

President Trump stated he’ll demand that rates of interest drop within the US.

“I’ll demand that interest rates drop immediately, and likewise, they should be dropping all over the world. Interest rates should follow us,” Trump said remotely at the World Economic Forum in Davos, Switzerland.

The Dow Jones Industrial Average (^DJI) moved to a session high, up 0.5% while the S&P 500 (^GSPC) gained 0.2%. The Nasdaq Composite (^IXIC) fell slightly.
Trump: ‘If you don’t make your products in America … you will have to pay a tariff’

President Trump spoke remotely at the World Economic Forum in Davos, Switzerland, appearing via video to a packed room of CEOs and world officials.

The president first listed a series of actions he took upon entering the White House, including withdrawing from the Paris Climate Accord and declaring a national energy emergency.

On the topic of tariffs, the president said, “My message to each business within the world could be very easy: Come make your product in America, and we gives you among the many lowest taxes of any nation on Earth.”

“However if you happen to do not make your product in America, which is your prerogative, then very merely you’ll have to pay a tariff — differing quantities, however a tariff.”
Packed house at Davos awaits Trump’s remote speech

Attendees at the World Economic Forum in Davos are waiting for President Trump’s special address via video.

Investors watching the remote speech will pay attention to any talk about the president’s tariff policy.

President Trump will also take questions after his remarks.
Bitcoin reverses losses, rises above $105,000

Bitcoin (BTC-USD) rose after Republican Sen. Cynthia Lummis said in a post on X that she will chair the Senate Banking Subcommittee on digital assets.

The token moved up to about $105,000 at around 10:50 a.m. ET.

Earlier this week, Lummis said she spoke with Eric Trump about the possibility of creating a strategic bitcoin reserve at the inaugural lunch on Monday.

Late last year, she introduced a proposal that would give the Federal Reserve the right to own the cryptocurrency.
Chip stocks fall as Nvidia supplier flags uncertain demand

Yahoo Finance’s Laura Bratton reports:

Chip stocks fell across the board early on Thursday after a Nvidia (NVDA) supplier made comments on its earnings call that indicated uncertainty about semiconductor demand this year.

South Korea-based SK Hynix (000660.KS) makes memory chips for Nvidia’s GPUs (graphics processing units), which are used in data centers to underpin artificial intelligence software.

After SK Hynix reported fourth quarter earnings that surpassed analysts’ expectations, its head of finance, Woo-Hyun Kim, painted a careful picture of the year ahead.

“2025’s memory demand outlook is clouded by inventory adjustments from PC and smartphone OEMs [original equipment manufacturers] as well as strengthened protective trade policies and geopolitical risks,” Kim said on a post-earnings conference call.

Following the comments, Nvidia shares sank as much as 2%. British chip designer Arm’s (ARM) stock dropped nearly 6%, and SK Hynix rival Micron (MU) shares fell roughly 4%.

Read more here.
Is AI out of control? HPE CEO says it’s up in the air.

Yahoo Finance’s Brian Sozzi reports from Davos:

Up and down the promenade at the World Economic Forum this week, leaders agree on one thing about artificial intelligence: It’s darn powerful, and it’s starting to materially impact how business is done and will be done.

Think AI on the cusp of rendering human call centers and HR departments obsolete.

What leaders can’t agree on is whether AI is already out of control — whether it’s beyond the point of being successfully regulated or having the proper guardrails.

“I am not sure it is [AI] out of control. I feel there are use instances that typically people need to showcase [for] … their own advantages, to see, hey, that is the potential. However the actuality is that enterprises are very sensible,” HPE CEO Antonio Neri told Yahoo Finance at the annual gathering of top business leaders.

Read more here.
American Airlines tumbles after surprise quarterly loss forecast

American Airlines (AAL) stock fell nearly 8% after the carrier forecast a surprise loss for its first quarter. The outlook is a departure from the major air travel carriers’ bullish performance in recent quarters.

American expects an adjusted loss of as much as $0.40 a share for the current quarter. Analysts were expecting a profit of at least $0.01, according to estimates compiled by Bloomberg.

The airline posted record fourth quarter revenue of $13.7 billion and record full-year revenue of $54.2 billion.

The company’s profit for the current quarter is expected to be impacted by a rise in non-fuel expenses as it continues to win back business after changing its corporate sales strategy.

American had implemented changes that pushed corporate customers to book directly with the airline, instead of third-party travel managers.
Electronic Arts stock falls after cut to bookings outlook

Electronic Arts (EA) stock tumbled 15% on Thursday after the game publisher said quarterly bookings fell to roughly $2.22 billion, missing analyst expectations.

The decline was due to the poor performance of two of its video games: soccer title “EA Sports activities FC 2025” and “Dragon Age: The Veilguard.” Both of those missed bookings expectations.

The company cut its bookings outlook for the 2025 fiscal year to a range of $7 billion to $7.15 billion.

EA is expected to release its complete results on Feb. 4.
S&P 500, Nasdaq waver as tech struggles

US stocks were mixed on Thursday, pulling back from near record levels as the markets awaited a speech from President Trump at the World Economic Forum.

The S&P 500 (^GSPC) slipped roughly 0.2%, coming off a record intraday high on Wednesday, while the Dow Jones Industrial Average (^DJI) was little changed.

Meanwhile, the Nasdaq Composite (^IXIC) fell 0.5% as tech stocks struggled. Nvidia (NVDA) shares slipped, along with those of Apple (AAPL) and Google parent Alphabet (GOOG, GOOGL).

Investors are still awaiting new developments on the tariff front. Trump is expected to remotely give an address to the WEF in Davos later in the day.
Good morning. Here’s what’s happening today.

Economic data: Initial jobless claims (week ended Jan. 18); Kansas City Fed. Manufacturing Activity (January)

Earnings: American Airlines (AAL), Alaska Airlines (ALK), CSX Corporation (CSX), Freeport-McMoRan (FCX), GE Aerospace (GE), Intuitive Surgical (ISRG), Texas Instruments (TXN), Union Pacific Corporation (UNP)

Here are some of the biggest stories you may have missed overnight and early this morning:

Trump’s new crypto token is the industry in its purest form

Why Trump is laser-focused on tariffs for Canada

Intel races to find next CEO before it sinks into irrelevance

Amazon to cut 1,700 jobs, close warehouses in Quebec

GE Aerospace posts earnings beat, plans $7B buyback

American Air stock drops as 2025 profit forecast falls short

Tesla to significantly hike prices for all models in Canada

Musk clashes with OpenAI’s Altman over ‘Stargate’

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