Market Recap: Key Indices, Top Movers, and Economic Insights

Image Source: Krish Capital Pty Ltd

Index Update

On Monday, the S&P 500 rose 0.55% and the Nasdaq gained 1.24%, driven by a semiconductor rally, with Nvidia up 3.4% and Micron spiking 10.5%. Fubo shares surged over 251% on Disney's Hulu + Live TV merger plans. Optimism also grew on reports that President-elect Trump's tariff plan might be less disruptive than anticipated.

Market Movers

On Monday, the top gainers were     Alpha Modus Holdings, Inc (+28.29%), followed by LeddarTech Holdings Inc (+27.85%). On the contrary,   Rain Enhancement Technologies Holdco, Inc. (-9.25%) and      Quantum-Si Incorporated (-6.73%) declined the most the same day.

Commodities Update

WTI crude oil futures fell to $73.3 per barrel amid a technical correction, following weak U.S. and German economic data that offset bullish factors like a weaker dollar, higher demand from colder weather, and Saudi Arabia's price hikes for Asia. Ongoing demand concerns, oversupply expectations, and geopolitical factors continue to pressure the oil market.

Macro Update

The Logistics Manager’s Index fell to 57.3 in December, its lowest in four months, driven by seasonal inventory declines. Retailers' inventories dropped sharply to 33.9, while manufacturers' rose to 57.9 due to imports. Warehousing capacity growth slowed to 61.6, and transportation prices surged to 66.8, driven by strong consumer demand and holiday-related last-mile delivery needs.

Futures Update

US stock futures edged up Tuesday, extending gains from Monday as the S&P 500 and Nasdaq logged their second consecutive rise, fueled by a rally in technology stocks.

Bitcoin traded at $100,849 on January 7, down 1.35% from the previous session. Over the past four weeks, it declined 0.22%, but its price has risen 114.07% over the last 12 months. 

 Stocks experienced a significant rally at the start of trading on Monday but gradually lost momentum as the day progressed. While the major indexes retreated from their session highs, both the Nasdaq and the S&P 500 managed to end the day in the green. The Nasdaq surged by 243.30 points, or 1.2 percent, closing at 19,864.90, while the S&P 500 rose by 32.91 points, or 0.55 percent, finishing at 5,975.37. In contrast, the Dow saw a slight decline, slipping 25.57 points, or 0.1 percent, to close at 42,706.56. From a technical analysis standpoint, the S&P 500 remains within an upward trend channel, suggesting the possibility of further increases. The 14-period Relative Strength Index (RSI) is in a healthy range. Important levels to watch include resistance at 6,066 and support at 5,920.