On the evening of January 30, 2025, stock futures demonstrated a modest uptick as investors digested earnings reports from major corporations. The S&P 500 and Nasdaq 100 futures saw slight gains, while the Dow Jones Industrial Average futures also showed positive movement. Apple's shares surged in after-hours trading following its fiscal first-quarter results, which exceeded analysts' expectations despite lower iPhone sales. Other tech giants like Intel and KLA also experienced gains, contrasting with declines in companies such as Deckers Outdoor. This activity followed a volatile yet positive trading session earlier in the day, setting the stage for an important economic report on Friday.
The market's performance this week has been marked by significant fluctuations, particularly in the technology sector. On Thursday night, investor attention was drawn to the latest earnings reports, especially those from Apple. The personal technology giant reported stronger-than-expected services revenue, overshadowing weaker iPhone sales. This positive outlook propelled Apple's stock nearly 3% higher in extended trading. Similarly, semiconductor firms Intel and KLA posted better-than-anticipated earnings, leading to respective gains of over 3% and 4%. However, not all companies fared well; Deckers Outdoor faced a substantial drop in share prices due to underwhelming revenue forecasts. These movements reflect the ongoing scrutiny of corporate financial health amid broader economic uncertainties.
In addition to corporate earnings, traders are preparing for key economic data releases on Friday. The focus will be on the December personal consumption expenditures price index, a critical inflation indicator favored by the Federal Reserve. Investors will also monitor employment costs and personal income figures. These metrics are expected to provide insights into the overall economic landscape and potentially influence future monetary policy decisions. Furthermore, the earnings season continues with upcoming reports from major energy companies like Chevron and Exxon Mobil. So far, approximately 77% of S&P 500-listed firms have surpassed analyst expectations, signaling a generally favorable reporting period.
As the month of January comes to a close, the market reflects a mix of gains and losses. Despite weekly downturns for the S&P 500 and Nasdaq Composite, all three major indexes are set to post monthly gains. The Dow Jones Industrial Average leads with a projected 5.5% increase for the month, followed by the S&P 500 at 3.2% and the Nasdaq Composite at 1.9%. This performance underscores the resilience of the market, even as it navigates challenges from various sectors. Looking ahead, investors remain cautiously optimistic, anticipating further developments in both corporate earnings and economic indicators.