Stock futures are little changed after Dow ends three-day winning run: Live updates – CNBC

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The S&P 500 gained 1% to 5,996.66, and the Nasdaq Composite advanced 1.51% to 19,630.20.Big tech stocks were higher on the day, with shares of Tesla popping 3%. Chipmaking giant Nvidia jumped 3.1%, while Alphabet shares added more than 1%.For the week, the Dow and S&P 500 advanced 3.7% and 2.9%, respectively. Both indexes posted their biggest weekly advance since the week of the U.S. presidential election in November. The Nasdaq climbed 2.5% week to date for its best one-week performance since early December.Those gains come after investors received back-to-back reports showing inflationary pressures softening somewhat. The core consumer price index rose less than expected year on year, and the producer price index also had a smaller-than-anticipated increase for December. The 10-year Treasury yield pulled back sharply as hopes for multiple rate cuts this year rose. The better-than-expected economic data earlier this week has helped “revive the goldilocks narrative for equities, and likely prompted some re-risking,” Barclays strategist Emmanuel Cau wrote in a Friday note.Strong earnings from major banks also boosted stocks this week, as they tried to shake off December doldrums that carried over into the start of 2025. Shares of Goldman Sachs and Citigroup were each roughly 12% higher on the week, while JPMorgan Chase added 8% in the period.Investors are also looking ahead to next week, as Donald Trump is set to be inaugurated as president for the second time. Stocks rallied right after his November electoral victory, as investors bet on deregulation and lower taxes.The major averages ended Friday higher and notched weekly gains.The Dow Jones Industrial Average added 334.70 points, or 0.78%. The S&P 500 gained 1%, while the Nasdaq Composite rose 1.51%.For the week, the Dow is up 3.69%, while the broad market index and the tech-heavy Nasdaq have climbed 2.91% and 2.45%, respectively.— Hakyung KimShares of Microsoft are up 2.6% week to date. The stock is on track to end a four-week negative streak, its longest since August 2024.Meanwhile, Apple shares are down 3.2% for the week and nearly 10% over the last three weeks. If shares do close lower this week, the stock would post its first 3-week decline since April 2024. — Hakyung KimShares of Qorvo rose more than 13% in afternoon trading, a move that puts the stock on pace for its best day in more than four years.If the stock were to close around this level, it would see its largest percentage increase since March 24, 2020, when it jumped 13.6%.The move follows a report by The Wall Street Journal, which cited people familiar with the matter, that revealed that activist investor Starboard Value had amassed a 7.7% stake in the company. Sources told the paper that the investor is also seeking changes to improve Qorvo’s share price.— Sean ConlonThe financial sector stands to benefit the most from policies under President-elect Donald Trump, according to Chris Senyek, chief investment strategist at Wolfe Research.”We still see Financials as the biggest sectoral winner under the Trump administration,” he wrote to clients on Friday, just days before the Republican is set to be sworn into office on Monday.Senyek said there’s both upside and downside risks tied to Trump’s economic plans. However, he listed rising business and consumer confidence; an extension of tax cuts; and deregulation as three potential positive catalysts.Major financial names have been among the largest winners during this week and the week of Trump’s election. CNBC Pro subscribers can click here to learn more.— Alex HarringCheck out the companies making headlines in midday trading.For the full list, read here.— Pia SinghAlthough the dollar gained 0.5% against the yen at 155.915 on Friday, the yen was still on pace for its strongest weekly performance in over a month. Week to date, the yen strengthened more than 1% against the greenback amid growing expectations of a rate cut by the Bank of Japan next week. — Hakyung KimShares of social media companies pulled back Monday, reacting to the Supreme Court’s ruling to uphold the ban on TikTok.Snapchat tumbled more than 3% after the SCOTUS decision, and Meta Platforms fell more than 1%.— Hakyung Kim, Nick WellsMaterials, energy and financials are all up 6% and more for the week, outperforming the S&P 500.All sectors of the market are on pace to notch weekly gains.The biggest underperformer is health care, which is up just 0.9% week to date.— Hakyung KimThe KraneShares China Internet ETF (KWEB) is up 3.2% Friday, slightly below its earlier high after the Supreme Court ruled to uphold the ban on TikTok.The exchange-traded fund is pacing for its fourth positive session in the past five, as well as its best day since Dec. 9, 2024, when it gained 10%. It is also on pace to break a four-week losing streak, with its best weekly performance since early October 2024.Kanzhun, Weibo, PDD Holdings and Tencent Music are among the stock leading the ETF higher.— Hakyung KimNovo Nordisk shares are down more than 4% Friday after the company’s semaglutide — the active ingredient in both its diabetes drugs Ozempic and Rybelsus, and its obesity treatment Wegovy — was put on a list of drugs that would be included in Medicare’s next round of price negotiations.Obesity drug stocks have struggled in recent months, hurt by slower-than-expected uptake, sales shortfalls and competition from compounded versions of GLP-1 medicines.Separately, Barclays downgraded European pharma and life sciences stocks to neutral from positive, saying this week’s flurry of industry news wasn’t enough to revive investor interest. Analyst Emily Field’s advice: “Stick to high-quality stories in 1H25; revisit sector more broadly in the summer.”Field said she likes Novo’s long-term story, but expects shares to be “choppy for a bit.” A big catalyst for the stock could come in June when the company is expected to provide more detailed clinical results for CagriSema, its next-generation weight loss drug. Investors were disappointed with the initial readout on the drug, but this more nuanced update may be more encouraging, according to Field.— Christina Cheddar BerkThe recent market rally has reached an area of resistance, according to BTIG technical strategist Jonathan Krinsky.”We felt it might get back to the 5900-5950, zone, and so far that’s exactly where the rally has stalled. Closing through ~5950, while not our base case, would open the door to a re-test of 6100-6150,” Krinsky said in a note to clients. The S&P 500 closed 5,937 on Thursday.”Overall we are open to the rally expanding further, but our base case is that we stall here and turn lower again into month-end,” Krinsky added.— Jesse PoundBank of America upgraded shares of American Airlines Group to a neutral rating from underperform on Friday, pointing to “solid premium revenues, a build back of corporate travel, and growth on Atlantic routes” as catalysts.Analyst Andrew Didora accompanied the upgrade by raising his price objective to $20 from $12, implying a potential 9% upside for the stock. Shares of American Airlines have surged 41% over the past 12 months.”Further, AAL could realize outsized benefit from the return of corporate travel given its $1.5B market share loss in 1H24,” Didora added. “As such, we no longer believe an Underperform rating is warranted and upgrade to Neutral, which balances the revenue potential with execution risk, in our view.”On the other hand, the analyst downgraded shares of both Southwest Airlines and JetBlue Airways to underperform from neutral. He cited less exposure to corporate, premium and international routes, as well as a high historical valuation.— Lisa Kailai HanIndustrial production and capacity utilization numbers both easily beat expectations in December, the Federal Reserve reported Friday.On the production side, factory output rose 0.9% for the month, topping the Dow Jones estimate for a 0.2% increase and beating the upwardly revised 0.2% increase for November.Capacity utilization, a measure of efficient use of resources, improved to 77.6%, up 0.6 percentage points from the upwardly revised prior month and better than the estimate for 77%.— Jeff CoxU.S. stocks kicked off Friday’s trading session in the green.The S&P 500 rose 0.9%. The Dow Jones Industrial Average gained 304 points, or 0.7%. The tech-heavy Nasdaq Composite gained 1.5%.— Hakyung KimUnderlying a stable global economic growth outlook for 2025 is a diverging picture between a strong U.S. economy and the rest of the world, according to the International Monetary Fund. Global growth is forecast at 3.3% for 2025 and 2026, according to the IMF’s World Economic Outlook released Friday. This remains below the historical average of 3.7% growth. The global fund raised its growth projections on the U.S. to 2.7%, which is 0.5% higher than its forecast from October, citing strong labor market trends and accelerating investment. However, the “stable, albeit lackluster” growth estimate “hides divergent paths across economies and a precarious global growth profile,” the Washington-based IMF warned in its report. The prospect of widening interest rate differentials between regions such as the Euro area — where weak growth expectations are increasing rate cut expectations — versus the U.S., which is seeing more upside risks to inflation will continue strengthening the dollar against other major currencies. This raises risks of capital outflows and higher risk premiums for emerging market and developing economy countries, many of which are struggling with persistent inflation.— Hakyung KimOn Friday, Wolfe Research upgraded shares of chemical firm DuPont de Nemours to an outperform rating from peer perform. Analyst Chris Parkinson accompanied the move by setting a price target of $91, which is approximately 19% higher than where shares are currently trading.While Dupont’s fundamentals are improving, Parkinson said the stock’s “current valuation is a bit harsh.””Shares are trading in a similar range as early 2024 when several of DD’s core businesses were in the throes of a deep de-stocking cycle, whereas the platform is now lapping 1H24 headwinds and the outlooks for 5 of 6 business lines appear constructive,” he wrote, adding that a sum-of-the-parts analysis suggests an attractive entry point.Meanwhile, the absence of past headwinds in the medical packaging and water vertical provides a better outlook for the stock, as does strong growth in data center and artificial intelligence demand.— Lisa Kailai HanHousing starts rose at a much faster than expected pace in December even as mortgage rates climbed, the Census Bureau reported Friday.Privately owned new construction totaled a seasonally adjusted annualized rate of 1.499 million, 11.3% above the November rate and well ahead of the Dow Jones estimate for 1.33 million.On permits, the total of 1.482 million was slightly below the prior month but still above the forecast for 1.46 million.Borrowing costs had been declining into December but turned higher after the Federal Reserve started cutting its benchmark rate. The 30-year mortgage rate recently edged above 7% for the first time since May 2024.— Jeff CoxSome stocks are making big moves in the premarket:Read here for the full list.— Sean ConlonKeyBanc Capital Markets sees a rosy outlook ahead for both Applied Materials and Lam Research.The investment firm upgraded both semiconductor stocks to an overweight rating from sector weight.Analyst Steve Barger’s $225 price target for Applied Materials is approximately 21% higher than where the stock closed Thursday afternoon. Shares of Applied Materials have declined 27% since July 2024, which “better aligns valuation with current conditions,” Barger wrote.”We think AMAT’s broad diversification, focus on novel materials, and leading market share in technologies enabling node transitions, improved chip efficiency, and Advanced Packaging position it well for an AI-driven growth cycle,” the analyst added.Meanwhile, Barger’s $95 price target for Lam Research implies a nearly 20% potential upside. The analyst believes that due to its incumbency advantage, Lam is set to be the primary beneficiary as the NAND flash memory market invests in tool upgrades this year.”We think LRCX’s more focused strategy on technology improvement for memory markets, mainly via etching tools, sets it up well for coming process transitions in DRAM, NAND, and (potentially underappreciated by the market) in Logic,” he wrote.— Lisa Kailai HanFlutter Entertainment’s rise is just getting started, according to Stifel.The investment firm initiated the sports betting and gambling stock at a buy rating. Analyst Jeffrey Stantial’s $320 target price corresponds to a 24% upside for shares of Flutter Entertainment.Shares of Flutter Entertainment have surged 56% over the past 12 months. Nonetheless, Stantial said the stock’s valuation “remains attractive.”Stantial wrote that he sees upside for Flutter “supported by TAM momentum, regulation driven consolidation, bottoming headwinds, and top-line synergies.”— Lisa Kailai HanHere’s where the major averages stand for the week ahead of Friday’s trading:— Lisa Kailai HanThese are the stocks moving the most in extended-hours trading:— Lisa Kailai HanStocks futures ticked lower on Thursday evening.Dow futures slipped around 0.1% shortly after 6 p.m. ET, as did S&P 500 futures. Futures tied to the Nasdaq 100 shed 0.2%.— Lisa Kailai HanCorrection: An earlier version of this post misidentified the day of the week.Got a confidential news tip? We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.© 2025 CNBC LLC. All Rights Reserved. A Division of NBCUniversal
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Source: https://www.cnbc.com/2025/01/16/stock-market-today-live-updates.html