FactSet Evening Market Recap

US equities were higher in Monday trading, though stocks ended off best levels. Stocks rebounded on the back of tech outperformance. Nothing on the US economic calendar today, but a bit of Fedspeak

Major US equity indices were mixed for the week. AI disruption weighed heavily on software this week. December JOLTS lowest since Sep-20. Q4 earnings growth now running at nearly +13% y/y for S&P 500% (with ~60% reported).

U.S. equities sold off Thursday and finished near the lows, led by weakness in big tech as software again underperformed while semiconductors held up better. Soft labor-market data drove a rally in Treasuries and cooled the recent broadening-out rotation, while the dollar strengthened and risk assets like crypto and commodities were pressured.

US equities finished mixed in Wednesday afternoon trading. Many cyclical pockets rallied as the broadening-out trade continued to gain momentum.

US equities were lower in Tuesday trading, though ended off worst levels. Tech weakness the big story despite big post-earnings rallies. End of partial government shutdown , White House affordability push, geopolitical tensions also in the headlines today.

US equities finished higher in Monday trading, ending not far from best levels. AI sentiment solidified today after some cautious weekend headlines. In macro news, January’s ISM manufacturing of 52.6 fell back into expansion territory against consensus for 48.9, its highest since August 2022

US equities were mostly lower this week. It was an extremely volatile week for metals, as gold climbed further into record territory before dropping sharply on Friday, and silver spent much of the week above $100/oz but saw a huge Friday drawdown. President Trump finally named his pick to succeed Powell as Fed chair, tapping former Fed governor Kevin Warsh.

It was a busy day with a lot of moving pieces and volatility. Tech was under pressure on underwhelming Azure growth from Microsoft and the AI competition narrative was overhang on software. There was a reversal in precious metals following another meaningful run-up earlier in the session with talks of an unwind of very crowded longs.

U.S. equities were mixed Wednesday, with the S&P 500 pulling back after briefly topping 7,000 as markets remained in a wait-and-see mode ahead of major technology earnings. Rates edged higher, the dollar stabilized after recent weakness, and precious metals continued to rally. The FOMC held at 3.50-3.75%, as expected, with two dovish dissents.

US equities were mostly higher in Tuesday trading, ended a bit off best levels. Growth/momentum/tech outperformance the big story today while small caps lagged again following a big run through last last week.

US equities were mostly higher in Monday trading. Stocks were higher though there was no shortage of headline volatility to start the week. On the economic calendar, preliminary November durable-goods orders rose 5.3% month over month on the headline, ahead of Street expectations for 3-4% and more than reversing October's 2.2% decline.

US equities were narrowly mixed this week with the S&P 500 and Nasdaq slightly lower for a second-straight weekly decline. Geopolitics and Greenland were the biggest focus this week. Late in the week, the focus shifted back to Iran after Trump revived threats to use military force against Iranian leadership amid a crackdown on protests.

US equities finished higher in Thursday trading, though ended off midday highs. Stocks extended Wednesday's TACO-trade gains after Trump softened stance on Greenland and as more details around NATO deal emerge. Weekly initial jobless claims printed at 200K

U.S. equities finished higher, led by small caps, high-beta, and most-shorted stocks, as market breadth was strong and Treasuries firmed with a flatter curve, while gold hit a fresh record. Stocks pushed toward session highs after President Trump signaled a softer stance on Greenland and tariffs, easing a key geopolitical overhang and reducing the risk of European retaliation. Investors also weighed stretched positioning, a flatter expected rate-cut path, and an active earnings slate.

US equities were lower in Tuesday trading as stocks ended just off session lows. Stocks sharply lower with latest trade geopolitical updates in focus. Biggest macro highlights this week will likely revolve around Trump's Greenland meetings and affordability speech in Davos on Wednesday.

US equities were mostly lower this week, though breadth was positive with equal-weight S&P outperforming the cap-weighted index by over 100 basis points. The market ended the week with no clear directional catalyst, though downside risks are still top-of-mind. In macro news, December’s core CPI came in cooler than expected.

US equities were higher in Thursday trading though stocks ended off best levels. AI sentiment underpinned by strong results and guidance (including big capex guide) from TSM (though still dispersion in the AI trade).

U.S. equities finished mostly lower, though off the worst levels of the session, as weakness in big tech and bank earnings weighed on the tape while small caps, equal-weight indices, and defensive sectors outperformed. Economic data was largely in line, Fed commentary leaned cautious, and geopolitical and policy uncertainty remained in focus, including tariffs, China technology restrictions, and developments related to Iran. Corporate headlines drove single-stock moves, with notable pressure in financials and select growth names, offset by strength in commodities-linked stocks following upgrades and higher price forecasts.

US equities were lower in Tuesday trading, though ended off worst levels. Today saw another rotation from tech toward cyclicals, and a rotation within tech trade itself away from software/AI adopters and into semis/AI enablers. December core CPI was cooler, though the data was noisy.

US equities were higher in Monday trading as stocks finished a bit off best levels. Stocks were higher and Treasuries and the dollar ended off worst levels as the market shrugged off this morning's cautious tone on the latest Trump threat to Fed independence, reversing a modest “sell America” trade at the open. No economic data on today's calendar, in macro news, but the Treasury auctioned $68B of 3Y notes and $39B in 10's