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The S&P 500 jumped 1% on Friday, January 17, 2025, heading into a three-day weekend higher as expectations for additional interest rate cuts in 2025 rebound.
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Intel shares took off after reports that the semiconductor giant could be a takeover target.
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Shipping company J.B. Hunt reported lower-than-expected fourth-quarter sales and profits, and its shares fell.
Major US stock indices I paid higher To end the week with the traders Set for a day off In celebration of Martin Luther King Jr. Day on Monday, which will also see Donald Trump take the oath of office for his second presidential term.
The strength among stocks to close the week coincided with renewed optimism that the Federal Reserve may continue to cut interest rates in 2025, Supported by signals of declining inflation. (Here are four reasons Inflation still exists.)
The S&P 500 advanced 1% on Friday. Strength in the technology sector helped the Nasdaq rise 1.5%, while the Dow Jones ended the day up 0.8%.
intel (Intech) Shares rose 9.3%, recording the best performance of the S&P 500 index, amid reports that the semiconductor giant Could be a takeover target. Friday’s gains pushed on top of the extended gains Intel shares posted earlier in the week after the chipmaker said it would spin off its investment fund into a standalone entity, with the company remaining an investor. Intel’s interim CEO said the move will help the company enhance efficiency and maximize the value of its assets.
plunder (SLB), the largest oil field services company in the world, reported better-than-expected profits for the fourth quarter, increased its profits, and intensified its stock buybacks. Although SLB Bank took a cautious tone for 2025, suggesting that year-over-year revenue growth will be limited as high oil supply levels restrict oilfield activities, its shares jumped 6.1% in the wake of the strong earnings report.
Truist Financial shares (Untie itThe company’s shares gained 5.9% after the bank holding company exceeded quarterly sales and profit estimates. Net interest income and non-interest income were higher than a year ago, helping drive the strong results. The increase in average deposit balances also contributed to Truist’s performance, which came despite a decline in average loan balances.
JB Hunt Transport Services shares (JBHT) suffered the biggest decline of any S&P 500 stock on Friday, falling 7.4% after the shipping company’s fourth-quarter sales and earnings. Didn’t live up to expectations. The decline in volumes impacted performance, and the company reported a decline in revenues across all its segments. CEO J.B. Hunt said the company remains focused on repairing its margins while weathering headwinds in the shipping industry.