Overview
The U.S. stocks advanced today, buoyed by gains in Walmart and tech giants, even as the Trump administration continued its offensive against the Federal Reserve. Financial stocks fell due to President Trump's demands to cap credit card rates at 10% for a year.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News
- Walmart and Tech Stocks Surge: Walmart surged by 3%, driven by optimistic expectations for NASDAQ performance. Google rose by 1% after securing a contract to integrate its AI technology with Apple's iPhones.
- Financial Stocks Drop: Stocks like Capital One, American Express, and JP Morgan fell following President Trump's demand to cap credit card rates.
- Fed and Government Tensions: Fed Chair Powell declared the Fed's independence amidst pressures from the Trump administration. This follows a Grand Jury investigation related to Fed building renovations.
Tomorrow's Economic Indicators
| Time | Indicator |
|---|---|
| 20:00 | U.S. NFIB Small Business Optimism Index (October) |
| 22:15 | U.S. ADP Employment Change Report |
| 22:30 | U.S. CPI Inflation Rate (December) |
| Midnight | Fed's Waller Speech |
| Midnight | U.S. Conference Board Employment Trends Index |
| Midnight | U.S. New Home Sales (October) |
| Open Market | U.S. 30-Year Treasury Auction |
| Open Market | U.S. Federal Budget Balance (December) |
General Opinion
Despite political pressure from the Trump administration, the market remains heavily influenced by corporate earnings and economic indicators. The upcoming CPI inflation rate release is anticipated to be a crucial factor in inflation expectations. The market remains optimistic, supported by robust corporate earnings outlooks.
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