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ADDX Go Market Morning Wrap - 31st Jan

Go Wire
Go Wire
January 30, 2025
GoGPT Summarizes Articles




Stock Market

The S&P 500 closed up 31.86 points, or 0.53%, at 6071.17. The Dow Jones Industrial Average, which is closely related to the economic cycle, closed up 168.61 points, or 0.38%, at 44882.13. The Nasdaq, which is dominated by technology stocks, closed up 49.43 points, or 0.25%, at 19681.75. The Nasdaq 100 closed up 0.45%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed up 0.67%. The Russell 2000 small-cap index, which is more sensitive to the economic cycle, closed up 1.07%. The VIX index fell more than 4% and fell below 16.


Key Events

  1. $UPS fell 18% and then closed down more than 14%, at least the biggest drop since 2008. The fourth quarter revenue and this year's revenue guidance were both lower than expected. It reached an agreement with its largest customer Amazon to cut its business volume by at least half by the second half of next year
  2. $AAL American Airlines fell 2.5%. One of the company's planes collided with a US military helicopter, which was the first fatal commercial aviation accident in the United States since 2009
  3. $IBM rose about 13% to a new high, the largest single-day increase since 1999, and its fourth-quarter earnings and next quarter guidance exceeded expectations
  4. $LVS Las Vegas Sands Group, whose revenue exceeded expectations, rose 11%, the largest single-day increase since 2022. Optimism pushed casino stocks higher collectively, and Wynn Resorts rose more than 6%
  5. Industrial giant $CAT Caterpillar fell 4.6%, and $WHR Whirlpool fell more than 16%, both of which had fourth-quarter revenues that were lower than expected
  6. Telecom giant $CMCSA fell 11% to a two-year low, the worst performance since 2008, and broadband users were lost faster than expected
  7. The China Technology Index ETF ($CQQQ ) rose 2.3%, and the China Internet Index ETF ($KWEB ) rose nearly 4%. Among the popular Chinese stocks, $BABA rose more than 6%, $BIDU rose nearly 6%, $JD and $XPEV rose about 5%


Magnigicent 7

$TSLA , which expects capital expenditures to exceed $11 billion in 2025, closed up 2.87%, $GOOGL rose 2.79%, $META rose 1.55%, $NVDA rose 0.77%, and $AAPL closed down 0.74%, ending a three-day rally. $AMZN ell 1.03%, and $MSFT fell 6.18%, the biggest drop since late October last year. $AAPL 's first-quarter revenue exceeded expectations, but mobile phone revenue was lower than expected. It rose and then fell after the market. After the company disclosed its second-quarter revenue guidance for the fiscal year, it rose more than 4% after the market.


Macro

  1. The initial reading of US GDP in the fourth quarter of last year was 2.3% annualized, lower than the 3.1% growth in the third quarter. The median forecast is 2.6%, but the full-year data continues to grow at a steady pace, growing by 2.8% in 2024 after growing by 2.9% in 2023. It is worth noting that the annualized quarterly growth rate of the core PCE price index in the fourth quarter was 2.5%, the second time since the end of 2022 that the quarterly growth rate has accelerated
  2. The European economy is sluggish again, with the eurozone's GDP recording zero growth on a quarter-on-quarter basis in the fourth quarter of last year, compared with expectations for a 0.1% increase and the previous reading of 0.4%. The GDP of the top two economies, Germany and France, both fell into negative growth on a quarter-on-quarter basis and were weaker than expected.


Forex

The US dollar index showed a V-shaped trend. In the late trading, it rose sharply above 108 due to Trump's remarks that he would impose tariffs on Canada and Mexico. The euro rose and then fell to 1.04.

When media reported on Trump's tariff plan on Mexico and Canada, the Canadian dollar plunged 90 points in a short period of time and the Mexican peso fell by more than 1%.


Key Events

  1. Trump plans to impose a 25% tariff on Canadian and Mexican goods starting February 1


Cryptocurrency

$BTC , the largest leader by market value, rose 4% during the session and briefly broke through $106,000. CME Bitcoin futures once rose to $107,000.

The main contract of CME $ETH futures DCR was quoted at $3,237.00, up 3.20% from Wednesday.


Market Events and Most Anticipated Earnings Releases



#Market Morning Wrap#$United Parcel Service Inc. Class B(UPS)#$American Airlines Group Inc.(AAL)#$International Business Machines Corporation(IBM)#$Las Vegas Sands Corp.(LVS)#$Caterpillar Inc.(CAT)#$Whirlpool Corp.(WHR)#$Comcast Corp(CMCSA)#$BTC/USDT COINBASE(BTC)#$ETH/USDT COINBASE(ETH)#$Tesla Inc. Common Stock(TSLA)#$Alphabet Inc. Class A Common Stock(GOOGL)#$Meta Platforms Inc. Class A Common Stock(META)#$Nvidia Corp(NVDA)#$Apple Inc.(AAPL)#$Amazon.Com Inc(AMZN)#$Microsoft Corp(MSFT)#$Invesco China Technology ETF(CQQQ)#$KraneShares CSI China Internet ETF(KWEB)#$Alibaba Group Holding Limited American Depositary Shares each represents eight Ordinary Shares(BABA)#$Baidu Inc.(BIDU)#$JD.com Inc.(JD)#$XPeng Inc. American depositary shares each representing two Class A ordinary shares(XPEV)