U.S. stocks rose further on Friday as the market awaited manufacturing data and Tesla (TSLA) stock looked for a comeback, trying to shake off a weak start to 2025.
The S&P 500 (^GSPC) rose 0.6%, and the Dow Jones Industrial Average (^DJI) rose about 0.5%. The Nasdaq Composite Index (^IXIC), which has a high proportion of high-tech stocks, rose 0.8%.
Friday is the last day of a successful “Santa Claus” rally for the S&P 500 (^GSPC), which is being watched as a historic harbinger of solid returns for January and this year.
But hopes have faded as the benchmark fell again on Thursday, snapping a five-session losing streak, its longest since April. The S&P 500 and Dow are both on track to end the holiday-shortened week with losses of more than 1%, while the Nasdaq faces a nearly 2% decline for the week.
Meanwhile, Tesla shares soared after the electric car maker announced sales in China would reach a record high in 2024. The stock fell 6% on Thursday as Tesla’s global sales declined at the start of the year.
U.S. Steel (X) shares have fallen nearly 8% after becoming a lightning rod for political opposition after President Joe Biden blocked a $14.9 billion takeover of the company by Japanese buyer Nippon Steel. It fell.
On the statistical side, an upcoming update on U.S. manufacturing should provide insight into whether the health of the U.S. economy makes the Fed reluctant to cut rates.
live 3 updates
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Stock prices rise but expected to record losses this week
U.S. stocks rose further on Friday as the market awaited manufacturing data and Tesla (TSLA) stock struggled to recover from a weak start to 2025.
The S&P 500 (^GSPC) rose 0.5%, and the Dow Jones Industrial Average (^DJI) rose about 0.5%. The Nasdaq Composite Index (^IXIC), which has a high proportion of high-tech stocks, rose 0.6%.
Friday is the last day of a successful “Santa Claus” rally for the S&P 500 (^GSPC), which is being watched as a historic harbinger of solid returns for January and this year.
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good morning. Here’s what happened today:
revenue: Nothing in particular
economic news:ISM manufacturing, ISM price payment (December)
Here are some of the biggest stories you may have missed.
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JP Morgan to deliver upgrades in early 2025
All eyes are on JPMorgan (JPM) after Wolf Research raised its stock price this morning.
Analyst Stephen Chuback said of his upgrade:
“While JPM is not a top stock for 2025, we believe the stock should outperform its Universal Brokers/Trust peers.As we downgrade the stock in tandem with a preview of Q2 2024, we expect a deeper rate cut.” Since then, interest rate forecasts have been revised upwards and are now in 2026. Upside is expected to consensus net interest income for the year, which supports a more robust EPS growth algorithm. 2026. Compared to its money center peers, absolute valuations (P/E and price to tangible book value) are still a little frothy, but our 2026 EPS puts JPM at about 12.5x (a modest premium to its peers) It is estimated that it is traded at We have consistently generated the strongest EPS growth among our bank coverage (underpinned by capital markets/deposit share gains) and believe our premium valuation is justified and our performance Please upgrade to exceed. ”
JPM stock is up about 1% in premarket trading.
