Stock Market Today: Dow Futures Gain, Nasdaq Drops As Trump Signs Bill To End Partial Shutdown— AMD, SMCI, LLY In Focus (UPDATED) – State Street SPDR S&P 500 ETF Trust (ARCA:SPY)
Editor’s Note: The future prices of benchmark tracking ETFs, the lede, the headline, and the earnings data were updated in the story.
U.S. stock futures were fluctuating on Wednesday following Tuesday’s negative close. Futures of major benchmark indices were mixed.
ADP’s January employment showed that the U.S. private sector hiring slowed significantly, with employers adding a meager 22,000 jobs amid a broader three-year deceleration in job creation. Despite the lackluster hiring volume, wage growth remained resilient as annual pay for job-stayers rose 4.5%.
President Donald Trump signed a funding deal to end the four-day partial government shutdown, though the brief closure has already triggered delays for critical economic indicators.
Meanwhile, the 10-year Treasury bond yielded 4.27%, and the two-year bond was at 3.58%. The CME Group’s FedWatch tool‘s projections show markets pricing a 91.1% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.
| Index | Performance (+/-) |
| Dow Jones | 0.16% |
| S&P 500 | 0.07% |
| Nasdaq 100 | -0.28% |
| Russell 2000 | 0.31% |
Stocks In Focus
Advanced Micro Devices
- Advanced Micro Devices Inc. (NASDAQ:AMD) plunged 7.63% in premarket on Wednesday despite reporting better-than-expected fourth-quarter financial results.
- AMD maintains a stronger price trend over the short, medium, and long terms, with a solid quality ranking, as per Benzinga’s Edge Stock Rankings.
Super Micro Computer
- Benzinga’s Edge Stock Rankings indicate that SMCI maintains a stronger price trend in the short term but a weaker trend in the medium and long terms, with a strong growth ranking.
Alphabet
- GOOG maintains a stronger price trend over the short, medium, and long terms with a poor value ranking, as per Benzinga’s Edge Stock Rankings.
Enphase Energy
- Enphase Energy Inc. (NASDAQ:ENPH) surged 23.39% after the company released its fourth-quarter earnings report, beating estimates on the top and bottom lines.
- Benzinga’s Edge Stock Rankings indicate that ENPH maintains a strong price trend over the short, medium, and long terms, with a moderate quality ranking.
Eli Lilly
- Eli Lilly And Co. (NYSE:LLY) popped 9.02% after reporting better-than-expected earnings of $7.39 per share, beating the estimate of $6.93 per share. It reported revenue of $19.3 billion, well above the expected $17.93 billion.
- LLY maintains a stronger price trend over the medium and long terms and a weak trend in the short term, with a poor value ranking, as per Benzinga’s Edge Stock Rankings.
Cues From Last Session
Information technology, communication services, and health care stocks led losses on Tuesday as most S&P 500 sectors declined, though materials and energy shares managed to finish higher.
Insights From Analysts
Jeremy Siegel maintains a constructive outlook on the economy and stock market, driven by diminished political uncertainties and the nomination of Kevin Warsh for Federal Reserve Chair. Siegel views Warsh as a “decisive upgrade to Powell,” believing his leadership will be a “net positive for both bonds and equities.”
Regarding the economy, Siegel notes that while fourth-quarter GDP estimates have moderated to the “high threes” or “low fours,” growth “remains solid despite noise”.
He is not alarmed by recent “tariff-related” inflation, suggesting such effects are not “macro-defining”. He advocates for another 25-50 basis points in rate cuts to support small businesses, citing sluggish M2 money supply growth.
In the equity markets, Siegel observes a sharp rotation and a shift in the AI narrative. He predicts this will be the “year of the AI user, not the AI producer,” where returns “accrue to firms that deploy AI to boost productivity rather than those merely selling the picks and shovels.”
Overall, he remains optimistic about the medium-term outlook as major leadership and fiscal risks subside.
Upcoming Economic Data
Here’s what investors will be keeping an eye on Wednesday.
- –ADP Data: Private sector hiring slowed to just 22,000 jobs in January, a lackluster performance marked by significant losses in professional and business services that were only partially offset by gains in education and health services.
- Fed Governor Lisa Cook will speak at 6:30 p.m. ET.
Commodities, Gold, Crypto, And Global Equity Markets
Crude oil futures were trading higher in the early New York session by 0.49% to hover around $63.53 per barrel.
Gold Spot US Dollar rose 2.12% to hover around $5,052.03 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.02% higher at the 97.4550 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 2.84% lower at $76,030.63 per coin.
Asian markets closed higher on Wednesday as India’s Nifty 50, Hong Kong’s Hang Seng, China’s CSI 300, Australia’s ASX 200, Japan’s Nikkei 225, and South Korea’s Kospi indices rose. European markets were mostly higher in early trade.
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