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Today's Market

Michael P. Reinking, CFA
Sr. Market Strategist

January 10, 2025 at 7:00 pm Est.

First and foremost, our thoughts and prayers go out to all those impacted by the ongoing fires in California. Last week ended on a positive note following a rough stretch to end 2024. Last Friday’s rally broke a five-session losing streak with the S&P 500 bottoming out right around the post-election low (~5,830). The index rallied into Friday's close ending the week right at its 50d moving average (~5,950). That rally was driven by better-than-expected ISM manufacturing PMI, Mike Johnson securing his role as House Speaker and building optimism ahead of this week’s Consumer Electronic Show in Las Vegas.

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