c7ec4d70 c900 11ef a6ff cb9468950329

Stock market today: Nasdaq, S&P 500, Dow rise as Wall Street eyes a new year comeback

By / / Finance

[ad_1]

Stocks edged higher on Thursday to kick off the first day of trading of the new year as Wall Street returned from holiday.

The S&P 500 (^GSPC) popped 0.2%, while the Dow Jones Industrial Average (^DJI) rose 0.5%. The tech-heavy Nasdaq (^IXIC) hovered near the flatline traders returned from Wednesday’s holiday shutdown.

Markets are eyeing a comeback after a year-end slide to begin the week dented hopes for a “Santa Claus rally.” But the decline capped a blowout 2024 for US stocks that saw the S&P 500 (^GSPC) post two years of over-20% gains in a row — something it hasn’t achieved in almost three decades.

Several Big Tech stocks rose modestly, with shares of Nvidia (NVDA), Amazon (AMZN), and Meta (META) all climbing as optimism around artificial intelligence crept back in. Investors have been debating what role the “Magnificent Seven” stocks will play in powering markets in 2025 after their massive outperformance last year.

Over the holiday week, US mortgage rates rose to 6.97% to reach the highest level since early July, data showed. The gain weighed on applications for home purchases and dented refinancing, according to the Mortgage Bankers Association.

Weekly jobless claims fell to their lowest level since March. Data released by the Department of Labor on Thursday morning showed claims of 211,000, a decrease from the previous week’s upwardly revised level of 220,000.

On the corporate front, Apple (AAPL) shares fell 2% after the iPhone maker offered rare price discounts on its latest models in China, reflecting rising competition from local handset makers. Meanwhile, Alibaba’s (BABA, 9988.HK) stock tipped lower as markets absorbed news the Chinese e-commerce giant will sell its shares in hypermarket chain Sun Art (SURRY, 6808.HK) at a steep discount.

Tesla (TSLA) shares slid more than 6% after the EV maker posted its first decline in annual deliveries on Thursday morning. The stock had risen in pre-market after a Cybertruck exploded in Las Vegas on Wednesday, killing its driver. The FBI is investigating whether the blast outside the Trump International Hotel was an act of terrorism.

LIVE 4 updates

  • Ines Ferré

    Dow, S&P 500 rise to kick off 2025

    Stocks rose on the first trading day of the new year following a holiday break and a roaring 2024 for the markets.

    The S&P 500 (^GSPC) jumped 0.5%, while the Dow Jones Industrial Average (^DJI) rose 0.6%. The tech-heavy Nasdaq (^IXIC) erased early session gains.

    Tesla (TSLA) stock dropped after the electric vehicle giant said it delivered 495,570 vehicles in the fourth quarter of last year, making 2024 the first year of a decline in annual deliveries.

  • Ines Ferré

    Tesla delivers over 495,000 vehicles in fourth quarter, stock drops

    Tesla (TSLA) stock dropped 3% in premarket trading after the electric vehicle giant said it delivered 495,570 vehicles in the fourth quarter of 2024, bringing total deliveries to roughly 1.79 million for the whole year.

    Wall Street analysts expected the automaker to deliver roughly 512,300 EVs for the last three months of the year, or about 1.8 million vehicles,

    In the fourth quarter, Tesla said it produced approximately 459,000 vehicles.

  • Laura Bratton

    Tesla stock rises premarket ahead of deliveries release

    Tesla (TSLA) stock rose more than 1% premarket as investors prepared for the Elon Musk-led electric vehicle maker to release its fourth quarter deliveries Thursday.

    Wall Street analysts expect the company to report deliveries of roughly 512,300 EVs for the period, bringing its annual deliveries for the 2024 fiscal year to 1.8 million EVs, according to Bloomberg consensus estimates.

    If the average analyst forecast holds true, that would mean Tesla’s annual EV deliveries fell 0.3% from the prior year — making 2024 the first year since 2011 that Tesla EV sales failed to grow, according to Bloomberg data.

    Tesla shares fell more than 3% on the last day of 2024 as megacap tech stocks lagged, but the EV company’s stock was still up more than 60% for the year.

    Tesla had warned in 2023 that production growth would be “notably lower” in the year ahead, as Pras Subrmanian noted in his roundup of Tesla’s biggest news in 2024 (you can read that story here).

    Separately, Tesla made headlines after a Cybertruck exploded outside of a Trump hotel in Las Vegas, prompting an investigation of a potential terrorist attack.

  • Jenny McCall

    Good morning. Here’s what’s happening today.

[ad_2]

Source link

Scroll to Top