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Index Update
US stocks reverse gains, snapping 3-day winning streak! S&P 500 falls 0.2%, Nasdaq drops 0.7%, and Dow Jones loses 68 points.
Market Movers
Big tech shares, including Apple (-4%) and Tesla (-3.3%), weigh on the market amid economic growth and inflation concerns. Despite strong bank earnings from Morgan Stanley (+4%) and Bank of America, dovish Fed comments, and declining Treasury yields fail to boost investor sentiment
Commodities Update
Gold prices hover near a one-month high at $2,710/oz, with a 1% gain this week, fuelled by softer US inflation data and potential Fed rate cuts, while silver and copper also rise, and oil prices recover ahead of Trump's inauguration, amidst expectations of stimulus and geopolitical developments.
Macro Update
Dollar set for 1st weekly decline in 7! Weakened by surprise drop in US core inflation, boosting bets on more Fed rate cuts. Markets now price in 41bps of easing this year. Dollar loses ground vs yen ahead of potential BoJ rate hike.
Futures Update
US stock futures rise 0.4% after Thursday's losses! Investors eye potential Fed rate cuts, softer inflation data & corporate earnings. Truist Financial +2% & Apple +0.9% in premarket. S&P 500 +1.9% for the week so far.

Following the substantial rally seen during Wednesday's session, stocks turned in a relatively lackluster performance during trading on Thursday. The major averages fluctuated over the course of the trading day before eventually closing in negative territory. The tech-heavy Nasdaq ended the day more firmly in the red amid a slump by shares of Apple (AAPL), sliding 172.94 points or 0.9 percent to 19,338.29. The Dow and the S&P 500 posted more modest losses. The Dow dipped 68.42 points or 0.2 percent to 43,153.13 and the S&P 500 slipped 12.57 points or 0.21 percent to 5,937.35. From a technical perspective, the S&P 500 is still within an upward trend channel, indicating potential for further gains. The 14-period Relative Strength Index (RSI) remains in a favorable range. Key levels to monitor include resistance at 5,990 and support at 5,880.






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