Santa Claus Came Without Rallying the Troops | Live Stock

Kevin Travers joined discussion · Jan 3 23:45

Santa Claus Came Without Rallying the Troops | Live Stock

Happy Friday, investors! It's January 3rd, a brand new year to invest in! The day started with a climbing market but an overall failure for the hopes of a Santa Claus rally. There is still a possibility of a major turnaround, but there are only a couple more hours of trading to reverse a 1.16% decline in the S&P 500 during a period that normally sees a Santa climb.

$Vistra Energy (VST.US)$ led the S&P 500 in percentage gainers, up 7% after an 8% climb Thursday. Bloomberg reported Friday that the Biden Admin would loosen rules for tax credits for clean hydrogen in the Inflation Reduction Act, a loosening of who gets the government handout, including nuclear energy companies like Vistra, Seeking Alpha reports.

In other Biden-related news, the president said he would block the proposed acquisition of $United States Steel (X.US)$ by Japan's Nippon Steel, citing national security concerns and supply chain risks. The steel giant fell about 5%. "A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains," Biden said. "Without domestic steel production and domestic steelworkers, our nation is less strong and less secure."

$MicroStrategy (MSTR.US)$ led the Nasdaq 100, climbing alongside its pride and joy Bitcoin, up about 6% to bitcoins 0.63% climb.

In stocks that were the most popular in the moomoo community this week, $Tesla (TSLA.US)$ led the way, in the lead-up to and aftermath of its Thursday deliveries release. On Thursday, Tesla reported its vehicle production and delivery figures for the full year and fourth quarter of 2024. The data showed that in the fourth quarter, Tesla delivered 495,570 vehicles, setting a new quarterly record with a year-over-year growth of 2.3%. However, this figure fell below the consensus analyst forecasts - FactSet data had previously shown analysts predicting deliveries of 498,000 vehicles.

$NVIDIA (NVDA.US)$ climbed 3% Friday, after a light week. The stock held its ground as its fantastic year came to a close, finishing up 171% overall. Some believe the stock could go further, the firm's VP of robotics Deepu Talla told the Financial Times Monday that "the ChatGPT moment for physical AI and robotics is around the corner," adding that the market has reached a "tipping point."

Talla told the FT that the outburst of generative AI models and the ability to train robots using simulated environments drove the robotics market shift. For the stock, climbing higher yet again would be an impressive feat. After the firm jumped 239% in 2023, all else but another massive year would paint a picture thatthe firm's stock price was finally leveling out.

$Bitcoin (BTC.CC)$ was the third most watched equity on moomoo this week, up about 2.9% so far after leveing out below $100k, reaching down to $91k at one point.

Within industry themes tracked by moomoo, Nvidia portfolio companies were leading climbers by percentage, up nearly 5%, led by a 5% climb in $Arm Holdings (ARM.US)$ and a 2% climb in $SoundHound AI (SOUN.US)$.

Elsewhere in the economy, $Crude Oil Futures(FEB5) (CLmain.US)$ climbed up to $73/barrel. Gold fell and silver climbed, and treasuries climbed. $Bitcoin (BTC.CC)$ continued to regain ground, climbing back to $97k/coin.

The market was overall climbing. Just past 11:11 am ET the $S&P 500 Index (.SPX.US)$ traded +0.65%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.44%, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 0.86%. For the market to Rally like Santa Claus does, it would have to see an S&P 500 close over 5974.07 points today, with about 70 points left to go at the time of writing.

In macro, PMI week came to a close, with the ISM Manufacturing PMI release on Friday, which came in lower than estimated, at 45.3- just like Chicago's regional PMI release on Monday. Initial jobless claims came in below estimates Thursday, but not very far from their average 220k or so for the past year.

Traders, what do you think? What you watching on the stock market today? What is the herd following? Let me know in the comments below! $S&P 500 (LIST91326.US)$

Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!

Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more