2025-01-18
6 分钟TNB Tech Minute gives you the day's top tech headlines, from the big names in Silicon Valley to the halls of power.
If it's making news in tech, we've got it.
Check out TNB Tech Minute in the Tech News Briefing feed from the Wall Street Journal.
Hey listeners, it's Saturday, January 18th.
I'm Francesca Fontana for the Wall Street Journal and this is what's News in Markets, our look at the biggest stock moves of the week and the news that drove them.
Let's get to it.
We welcome back everybody, and apologies in advance for any hoarseness on my part.
I'm getting over being under the weather thanks to the frigid temperatures we've been having here in New York.
And yes, I had a cold, but stocks were red hot this week, mostly on Wednesday.
The dow S&P 500 and NASDAQ all had their best trading day since the big post election rally back in November thanks to new inflation data that's been stoking optimism for rate cuts and big banks setting a strong tone for earnings season.
More on that in a second, but in came the cold.
On Thursday, all three indexes ended lower, weighed down by declines in tech stocks.
But on Friday, stocks warmed right back up and the major indexes notched their best week since that post election rally.
On a weekly basis, The Dow gained 3.7%, the S&P 500 added 2.9% and the Nasdaq rose 2.5%.
Let's circle back to those big banks which posted surging quarterly profits on Wednesday thanks to a rebound on Wall Street.
JPMorgan Chase said its net income rose 50% while Goldman Sachs said its net income more than doubled and Citigroup swung to a profit.
We got similar readings from other big players this week too, like Wells Fargo, Morgan Stanley and Bank of America.
Why the totally gangbusters numbers?
Because for one, banks are seeing this optimism from their corporate clients about the economy and the incoming Trump administration, which is spurring a big return to deal making, fundraising and trading.
So how'd the stocks do?