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Daily Market Commentary

January 13, 2025

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January 13, 2025

Bonds & Stocks

A selloff in the stock market’s most-influential group added to Wall Street’s jitters, with traders awaiting key inflation data after a massive recalibration of Federal Reserve rate-cut wagers. The S&P 500 fell 0.7%. The Nasdaq 100 dropped 1.3%. The Dow Jones Industrial Average added 0.3%. A Bloomberg gauge of the “Magnificent Seven” megacaps slid 1.9%. The Russell 2000 index of smaller firms retreated 1%. The yield on 10-year Treasuries advanced two basis points to 4.78%.

Economy

Treasuries extended their drop after Friday’s blowout employment report strengthened speculation that the Federal Reserve is poised to pause its interest-rate cuts for virtually all of this year.

World

Oil rallied to the highest level in five months as a fresh wave of US sanctions against Russia’s energy industry threatened to crimp supplies from one of the world’s top producers.

West Texas Intermediate advanced near $78 a barrel, after surging almost 4% on Friday.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy, or when to buy or sell.