Daily Chart Report π Thursday, January 2, 2025
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Todayβs Summary
Thursday, January 2, 2025
Indices: Russell 2000 +0.07% | Nasdaq -0.17% | S&P 500 -0.22% | Dow -0.36%
Sectors: 4 of the 11 sectors closed higher. Energy led, gaining +1.17%. Consumer Discretionary lagged, falling -1.31%.
Commodities: Crude Oil futures rose +1.97% to $73.13 per barrel. Gold rose +1.06% to $2,669 per oz.
Currencies: The US Dollar Index ticked higher by +0.06% to $108.08.
Crypto: Bitcoin rose +2.67% to $96,907. Ethereum rose +2.95% to $3,452.
Volatility: The Volatility Index gained +3.34% to 17.92.
Interest Rates: The US 10-year Treasury yield inched lower to 4.563%.
Here are the best charts, articles, and ideas shared on the web today!
Chart of the Day
π Today's Chart of the Day was shared by Chris Verrone (@verrone_chris).
- It was a December to forget, with the S&P 500 dropping -2.5% last month. In addition, the Santa Claus Rally will likely be negative this year. It officially ends tomorrow, but $SPX has fallen -1.8% since it started.
- While Santa failed to show up last month, Chris points out that January has historically been more meaningful than December in setting the market's tone for the next six months.
- When January was positive, the S&P 500 historically gained an average of +6.9% over the next six months. When January was negative, the index only gained +0.6%.
The Takeaway: January has historically been more prophetic than December in setting the tone for the next six months.
Top Links
Best Performing Stocks of 2024 - Bespoke
Bespoke breaks down the strongest stocks of 2024.
Let the Consumers Decide - Alfonso's Daily Note
Alfonso De Pablos points out that a key risk ratio is at a potential inflection point.
Wall Street Forecasts Green in 2025 - LPL Financial Research
Adam Turnquist examines analyst expectations for the year ahead.
2024 Portfolio Review: Where I Won, Where I Lost, and Key Takeaways - Options Jam Session
Options strategist Sean McLaughlin reviews the key lessons and trades from 2024.
Bitcoin: Was That The Top? - All Star Charts
JC Parets looks at the recent price action in Bitcoin.
Quote of the Day
"An optimist stays up until midnight to see the new year in.
A pessimist stays up to make sure the old year leaves."
- Bill Vaughan