Macro Events & News
The final week of 2024 was subdued, marked by light trading volume and minimal economic data due to the New Year holiday. A steady sell-off into year-end erased some gains from what was otherwise a strong year for the major indexes. The first Friday of 2025 brought a much-needed rebound, with the S&P 500 rising 1.3%, the Nasdaq gaining 1.8%, and the Dow adding 0.8%. Despite this recovery, the overall weekly performance remained negative. Market activity is expected to pick up as key economic reports and corporate earnings begin to roll in mid-January.
The 10-Year Treasury yield fell back a tad to 4.6%, and the VIX advanced slightly to 16.13.
For the week, all major indexes ended lower but not by much: the Dow down < 1%, the S&P 500 down < 1%, and the Nasdaq down < 1%.
Watchlist News
GameStop (NYSE:GME) 2% ▼
GameStop lost earlier momentum midweek, experiencing a 5% sell-off, but staged a strong recovery alongside the broader market on Friday. The stock stayed resilient despite a lack of significant news or catalysts during the week.
GameStop continues to trade within a narrow range, reflecting sustained investor interest despite the lack of a clear catalyst. This consolidation suggests that market participants are watching closely, anticipating a potential trigger to drive the next significant move – higher or lower.
august bear notes
NVIDIA (NASDAQ:NVDA) 4% ▲
NVIDIA surged back to the mid-$140s this week, marking a notable recovery after a period of subdued performance. The stock gained momentum throughout the week without any major news or announcements, closing strong on Friday.
The past month’s action appeared to reflect profit-taking and rotation out of one of 2024’s top performers, NVIDIA, which delivered an impressive 190% return. With the new year underway, portfolio managers are reallocating into industry leaders that have consistently delivered results, like NVIDIA. This renewed momentum could signal the start of a strong run toward all-time highs, especially with retail investors poised to join in.
august bear notes
