Wall Street Eyes 1st Winning Week of 2025 as Biden Presidency Concludes/ Newslooks/ WASHINGTON/ J. Mansour/ Morning Edition/ Wall Street is on track for its first winning week of 2025, with S&P 500 and Dow Jones futures rising 0.6% and 0.5%, respectively, ahead of Friday’s trading. Mixed corporate earnings reports and global economic updates, including China’s 5% annual growth, influenced market movements. This marks the final trading session under President Joe Biden’s administration.
Wall Street Gains Amid Final Week of Biden Presidency: Quick Looks
- Market Futures Rise: S&P 500 up 0.6%, Dow Jones up 0.5%.
- Corporate Earnings: JB Hunt falls 10%, Qorvo jumps 7% after investor news.
- China’s Growth: Economy grew 5% in 2024, meeting government targets.
- Global Markets: European stocks rise, mixed results in Asia.
- Oil and Currencies: Brent crude dips to $80.66; dollar strengthens against yen.
Wall Street Eyes 1st Winning Week of 2025 as Biden Presidency Concludes
Deep Look
Wall Street appears set for its first winning week of 2025 as futures for the S&P 500 and Dow Jones Industrial Average climbed ahead of Friday’s opening bell. This final trading session under President Joe Biden’s administration caps a week of fluctuating markets driven by corporate earnings and global economic developments.
U.S. Market Performance
If gains hold, this week would be the best for U.S. markets since early November. Futures for the S&P 500 and Dow Jones rose 0.6% and 0.5%, respectively, reflecting growing investor optimism.
However, individual stock movements varied widely. JB Hunt shares tumbled 10% after the company missed fourth-quarter profit expectations, citing rising insurance premiums and labor costs. Meanwhile, Qorvo shares surged more than 7% following news that activist investor Starboard Value had acquired a 7.7% stake, signaling potential changes to improve profitability.
Regional banks delivered mixed earnings reports, contrasting with stronger results from major U.S. banks earlier in the week. These smaller banks have been under heightened scrutiny since the high-profile collapses of Silicon Valley Bank, Signature, and First Republic in 2023.
Global Market Trends
European markets rallied Friday, with Germany’s DAX and France’s CAC 40 each gaining 1.1%, while Britain’s FTSE 100 climbed 1.4%. In Asia, results were mixed.
China: The world’s second-largest economy grew at a 5% annual rate in 2024, meeting government targets but slowing compared to the previous year. Manufacturing, driven by strong exports and policies promoting investment, surged nearly 6%. However, economists predict further slowing as Beijing faces challenges from potential U.S. tariffs and technology restrictions under President-elect Donald Trump’s administration.
Japan: The Nikkei 225 slipped 0.3%, partly due to a 4.3% drop in Nintendo shares. Investors reacted lukewarmly to the announcement of the long-awaited Switch 2 console, which is set for release later this year.
South Korea and Australia: The Kospi dipped 0.2%, while Australia’s ASX 200 edged down 0.2%.
Taiwan: The Taiex rose 0.5%, boosted by a 57% profit jump from Taiwan Semiconductor Manufacturing Corp. (TSMC). The world’s largest semiconductor maker credited artificial intelligence demand for its robust performance.
Commodities and Currencies
Oil prices fell Friday, with U.S. benchmark crude dropping 57 cents to $77.28 per barrel. Brent crude, the global standard, slid 63 cents to $80.66 per barrel.
In currency markets, the U.S. dollar strengthened against the Japanese yen, rising to 155.57 yen from 155.16. The euro edged down slightly to $1.0288 from $1.0301.
Key Insights
As Wall Street looks to end the week on a high note, global markets reflect optimism tempered by regional challenges. With earnings season underway and major policy shifts looming under the incoming Trump administration, the financial landscape remains dynamic. Investors will closely monitor economic signals and corporate performances in the coming weeks.
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