?? Market Summary The markets are roaring to start the new year, with the S&P 500, NASDAQ, and Russell 2000 all up over 1%, marking a strong kickoff for 2025.
- Rivian: Shares soared 15% after reporting better-than-expected 2024 production and delivery numbers, signaling a potential turnaround.
- Tesla: Record-breaking 2024 sales in China (657,000 vehicles delivered) highlighted growth in the region, though exports faced challenges.
- US Steel: Dropped 8% as President Biden blocked a $14B acquisition by Nippon Steel, citing national security concerns.
- Carvana: Fell 4% after Hindenburg Research accused the company of financial misrepresentation and risky loan practices.
- Santa Claus Rally Recovery?: After a disappointing rally period, markets are showing signs of a strong January, historically a good indicator for annual performance.
- Tesla's China Growth: While domestic sales hit record highs, Tesla's exports from China dropped 24%, pressured by rising competition and shifting market preferences.
- Biden Blocks US Steel Deal: The administration cited national security risks in rejecting Nippon Steel’s proposed acquisition, drawing bipartisan support but raising foreign investment concerns.
- January Matters: History suggests when stocks rise in January, the year ends positively 79% of the time. Keep an eye on early 2025 trends!
- Hollywood's Comeback: U.S. box office revenues reached $8.7B in 2024, exceeding expectations. Disney led the charge with blockbuster hits like Inside Out 2 and Moana 2.
