Price Return Last Week
S&P 500 +1.7% S&P Mid Cap +1.1% Russell 2000 +1.4%
MSCI EAFE +3.2% MSCI EM +1.9%
10 Yr US Treasury Rate – rose from 4.61% to 4.62%
Source: Refinitiv Eikon
Recent News
AI Investment – President Donald Trump announced a private sector investment of up to $500 billion to build infrastructure for artificial intelligence over the next four years. OpenAI, Softbank, Oracle and others plan on making investments. The announcement seems to be an extension of the $100 billion project that OpenAI and Microsoft were working on as far back as March 2024.
Source: Thomson Reuters, Refinitiv Eikon
Existing Home Sales – Annual existing home sales in the U.S. fell to 4.1 million in 2024. This represents the lowest level in nearly thirty years and a decline of 0.7% compared to 2023. Despite sales falling, the median existing home price in December was 6% higher than a year ago.
Source: The Wall Street Journal
Japan Hikes Rates – The Bank of Japan rose interest rates to 0.25% to 0.50%. This represents the highest rates have been in Japan since the global financial crisis and is the first increase from the central bank since July 2024.
Source: Thomson Reuters
Wicked Wildfires – The musical, “Emilia Pérez,” led all movies with 13 Oscar nominations. “The Brutalist” and “Wicked” were just behind with 10 nominations apiece. Oscar voting was unusual this year as it was extended twice due to wildfires in Los Angeles. The Oscars are set to occur on March 2 and be hosted by Conan O’Brien, but this may end up being delayed as well due to fallout from the natural disasters.
Source: Variety
Upcoming Events
1/27 – Notable Earnings Reports: Nucor
1/28 – Durable Goods, Consumer Confidence, Notable Earnings Reports: Boeing, Lockheed Martin, RTX, Kimberly-Clark, Chubb, Stryker, Starbucks
1/29 – Fed Meeting, Notable Earnings Reports: Danaher, IBM, Microsoft, Tesla, Meta, ServiceNow
1/30 – GDP, Notable Earnings Reports: Caterpillar, Blackstone, Comcast, Dover, Southwest Airlines, Mastercard, Northrop Grumman, Pultegroup, Thermo Fisher Scientific, Tractor Supply, Valero, Apple, Visa, Intel, KLA
1/31 – PCE, Notable Earnings Reports: Aon, Exxon Mobil, Chevron, Colgate-Palmolive, AbbVie
Source: Refinitiv Eikon
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