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The S&P 500 rose 1% on Friday, January 17, 2025, heading into the three-day weekend on a high note as prospects for additional interest rate cuts in 2025 rebound.
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Shares of Intel took off after reports that the semiconductor giant could be an acquisition target.
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Freight shipper JB Hunt posted lower-than-expected sales and profits for the fourth quarter, and its shares fell.
Major US equity indices pushed high At the end of the week, with traders Set for a day off Monday in observance of Martin Luther King Jr. Day, which will also feature Donald Trump being sworn in for a second term as president.
Stocks’ strength to close the week coincided with revived optimism that the Federal Reserve may continue to cut interest rates into 2025. Strengthened by signs of declining inflation. (There are four reasons Inflation is still around.)
The S&P 500 rose 1% on Friday. Strength in the tech sector helped the Nasdaq lift 1.5%, while the Dow ended the day 0.8% higher.
Intel (INTC) shares rose 9.3%, besting the S&P 500, amid reports that the semiconductor giant The goal of taking can be. The chipmaker said it will spin off its venture fund into a stand-alone entity, in which the company will remain an investor, pushing higher extended gains posted by Intel stock earlier in the week on Friday. Intel’s interim CEO said the move will help the company increase efficiency and maximize the value of its assets.
SLB (SLB), the world’s largest oilfield services company, reported better-than-expected profit for the fourth quarter, increased its dividend, and increased its share repurchases. Although SLB struck a cautious tone for 2025, indicating that year-on-year revenue growth will remain limited as high oil supply levels curb oil sector activity, its shares fell 6.1% in the wake of a strong earnings report. have increased
Shares of Trust Financial (TFC) rose 5.9% after the bank holding company topped quarterly sales and profit estimates. Net interest income and non-interest income rose from their year-ago levels, helping to deliver strong results. Growth in average deposit balances also contributed to Truist’s performance, which came despite a decline in average loan balances.
Shares of JB Hunt Transport Services (JBHT) suffered the fastest decline of any S&P 500 stock on Friday, with the shipping firm’s fourth-quarter sales and profit down 7.4%. Fell short of expectations. Declining volumes weighed on performance, and the company reported revenue declines across its segments. JB Hunt CEO said the company remains focused on repairing its margins as it navigates the headwinds of the freight industry.
