The Market Brief
Hey team. It’s been a volatile week for stocks, with the S&P 500 logging intraday gains over the past two sessions, only to finish lower each day.
Let’s recap yesterday’s session and see what’s next!
Impact Snapshot
🟥 ISM Manufacturing PMI - 10:00am
Macro Viewpoint
U.S. stock index futures inched higher on Friday as investors awaited new economic data for clues about the economy's health and prepared for potential policy shifts under the incoming Trump administration.
The year began on a somber note for Wall Street, with all three major indexes wiping out early gains to close lower for a fourth consecutive session on Thursday. This broke from the historical pattern of markets typically rallying during the final five sessions of December and the first two sessions of January.
While stretched equity valuations remain a concern, many brokerages anticipate another year of growth for U.S. stocks, fuelled by robust corporate performance.
Quarterly earnings reports set to be released later this month will serve as a critical test for Wall Street’s bull market, now more than two years in the making.
Later today, markets will analyse ISM's December manufacturing activity report, ahead of a crucial employment figure set for release next week.
