The Dow and S&P 500 are on track for their best weekly wins since November
Wall street is on track for its first weekly win of 2025, boosted by encouraging inflation data and strong earnings. Today’s gains come after December's industrial production rose 0.9% and capacity utilization improved 77.6%, both beating estimates. After toppling 4.8% earlier in the week, the 10-year Treasury yield now sits at 4.6%, cooling off and enabling a more risk-on environment for investors.
The Dow Jones Industrial Average (DJI) is up 442 points and, along with the S&P 500 Index (SPX), is heading for its best weekly performance since the U.S. presidential election in November. The Nasdaq also boasts a triple-digit gain and is on pace for its best single-week advance since early December. Wall Street's "fear gauge," meanwhile, is heading for its lowest close since Christmas Eve.
Continue reading for more on today's market, including:
- Analysts turn bullish on 2 cloud stocks.
- Fastenal's disappointing fourth-quarter results.
- Plus, Rivian's massive government grant; Intel buyout rumors; and JBHT's post-earnings plunge.
Rivian Automotive Inc (NASDAQ:RIVN) is seeing an uptick in bullish options activity, after the electric vehicle (EV) company completed a loan agreement with the Department of Energy. The finalized deal grants the firm up to $6.6 billion for a new manufacturing site in Georgia. In response, more than 129,000 calls have traded hands, volume that's double the average intraday amount. The equity is 2.4% higher at $14.79 at last glance, extending its nine-month gain to more than 70%.
Intel Corp (NASDAQ:INTC) is one of the best stocks on the Nasdaq this afternoon, up 8.1% at $21.26 at last glance, as rumors swirl that an unnamed firm is considering buying the semiconductor giant "whole." Despite elevated demand for artificial intelligence (AI) chips, INTC is down nearly 55% over the last 12 months.
J.B. Hunt Transport Services Inc (NASDAQ:JBHT) shares are under pressure today, last seen 6.9% lower at $173.30 after earnings. The transportation and logistics giant reported fourth-quarter earnings of $1.53 per share, which was well below the $1.61 per share estimate. So fart today, JBHT is the worst performing equity on the Nasdaq, and it now sits 11.5% lower year-over-year.