The S&P 500 rallied early on, but couldn't sustain its momentum in light of new concerns over whether the Fed will continue to cut interest rates in 2025.
MARKET RECAP
Stocks started the week by building on the previous Friday's rally. It was short-lived however, as Wednesday's release of the Fed's December meeting minutes inspired new doubts about whether more interest rate cuts will happen this year. Concurrently, 20-year US Treasury yields crossed 5%—its highest reading since late 2023. The markets were closed on Thursday to honor the passing of former president Jimmy Carter, but on Friday, a stronger-than-expected December payrolls report added to concerns regarding interest rate cuts. Stocks dropped following the news, and Treasury yields spiked. Overall, energy minerals, health services, and transportation were the strongest-performing sectors this week, while communications, consumer non-durables, and commercial services lagged. It was a similarly volatile week in crypto, with bitcoin crossing $102,000 on Tuesday, only to fall back below $95,000 by Friday. Meanwhile, gold and oil both had relatively green weeks, closing up 2.6% and 4.1%, respectively.
| Past week | Year-to-date | 5-year | |
| S&P 500 | –1.3% | –0.7% | 78.5% |
| Oil (WTI crude) | 4.1% | 4.8% | 29.9% |
| Gold (New York) | 2.6% | 2.2% | 74.5% |
| Bitcoin | –3.6% | 0.4% | 1,057.7% |
Source: Yahoo Finance, as of January 10, 2025.
KEY DATA FOR THE WEEK OF JANUARY 13
The earnings lineup includes key banks, tech-related manufacturing, and health care, among others. More economic data will be released as well.
| Aehr Test Systems ( |
Treasury statement – Monday |
| Applied Digital ( |
PPI - final demand – Tuesday |
| JPMorgan Chase ( |
CPI – Wednesday |
| Citigroup ( |
EIA petroleum status report – Wednesday |
| Taiwan Semiconductor Manufacturing ( |
Jobless claims – Thursday |
| UnitedHealth Group ( |
Housing starts and permits – Friday |
| See the full earnings calendar (login required). | See the full economic calendar. |
Source: Fidelity.com, as of January 10, 2025.
SCREEN OF THE WEEK
Here are 5 stocks from the Fidelity.com Stock Screener that made a new 52-week high during the week of January 6, 2024:
- Constellation Energy (CEG)
- Intra-Cellular Therapies (ITCI)
- TD Synnex (SNX)
- argenx (ARGX)
- Regeneron Pharmaceuticals (REGN)