Stock Market Today: Stocks Jump Ahead of Trump Inauguration
The Dow and S&P 500 scored their biggest weekly gains since the early November election.
Joey Solitro
Stocks closed out the week with a bang as Treasury yields retreated from recent highs. Optimism is swirling ahead of President-elect Donald Trump's inauguration on Monday, which also happens to be a stock market holiday. Indeed, both the equities and bond markets will be closed in observance of Martin Luther King Jr. Day.
At the close, the Dow Jones Industrial Average was up 0.8% at 43,487, the S&P 500 was 1.0% higher at 5,996, and the Nasdaq Composite had gained 1.5% to 19,630. It was the first weekly win of 2025 for the benchmarks and the biggest week-over-week gains for the Dow and S&P 500 since the post-election "Trump bump" in early November.
Enthusiasm toward the incoming administration gave a boost to bitcoin, which topped the $105,000 level for the first time since mid-December. This created a halo to lift several cryptocurrency-related stocks, including Robinhood Markets (HOOD, +4.5%) and Coinbase Global (COIN, +4.9%).
From just $107.88 $24.99 for Kiplinger Personal Finance
Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
SLB soars on earnings beat, dividend hike
Elsewhere, SLB (SLB) was one of the best S&P 500 stocks, adding 6.1%, after the oilfield services company beat top- and bottom-line expectations for its fourth quarter.
For the third year in a row, SLB raised its quarterly dividend, this time by 3.6%. It also announced a $2.3 billion accelerated share repurchase.
"With its significant scale, we believe SLB is poised to benefit from continued strengthening business dynamics driven by increased demand on an expected momentum in international activity (Middle East in focus)," wrote Jefferies analyst Lloyd Byrne in a January 3 note.
The analyst also expects SLB to continue with its "industry-leading margins, robust free cash flow and solid shareholder returns in the upcoming years."
Other stocks on the move
J.B. Hunt Transport Services (JBHT) stock fell 7.4% after the logistics company fell short of profit expectations and only matched revenue expectations for its fourth quarter.
"We maintain our Sell rating based on our view of increased competition," says CFRA Research analyst Emily Nasseff Mitsch. "Additionally, we expect JBHT to face challenges in expanding margins above historical levels."
Qorvo (QRVO) stock surged 14.4% after activist investor Starboard Value revealed a 7.7% stake in the chipmaker and Apple (AAPL) supplier.
"We are very intrigued by the investment stake as we have viewed Starboard as one of the most successful activists within the semiconductor industry over the last decade-plus," says CFRA Research analyst Angelo Zino (Hold).
And while Zino thinks QRVO will benefit from cost-cutting initiatives, he is "cautious about the increasing competitive landscape across the radio-frequency space both domestically and from China."
Housing starts, industrial production improved
Turning to the economic calendar, data from the Census Bureau showed housing starts jumped 15.8% month over month in December thanks to "a surge in rental unit construction," says José Torres, senior economist at Interactive Brokers.
However, "this elevated degree of groundbreaking wasn't accompanied by gains in future plans," Torres says, considering building permits slipped 0.7%.
Separate data from the Federal Reserve showed industrial production increased 0.9% in December, the second straight month of growth.
"Although this indicator has large revisions on a month-on-month basis, the prospects for the manufacturing sector seem to have brightened somewhat lately, with manufacturing diffusion indices showing a potential improvement in the sector," says Eugenio Alemán, chief economist at Raymond James.
Related content
- Earnings Season: Live Updates and Commentary
- Could ESG Funds be Removed from Your 401(k) Plan?
- Why Bank of America Stock Is Still a Buy After Earnings
-
We're 64 with $4.3 million and can't agree on when to retire.I want to retire now and pay for health insurance until we get Medicare. My wife says we should work 10 more months. Who's right?
-
Missed an RMD? How to Avoid That (and the Penalty) Next TimeIf you miss your RMDs, you could face a hefty fine. Here are four ways to stay on top of your payments — and on the right side of the IRS.
-
What Really Happens in the First 30 Days After Someone DiesThe administrative requirements following a death move quickly. This is how to ensure your loved ones won't be plunged into chaos during a time of distress.
-
Missed Your RMD? 4 Ways to Avoid Doing That Again (and Skip the IRS Penalties), From a Financial Planner
If you miss your RMDs, you could face a hefty fine. Here are four ways to stay on top of your payments — and on the right side of the IRS.
-
What Really Happens in the First 30 Days After Someone Dies (and Where Families Get Stuck)
The administrative requirements following a death move quickly. This is how to ensure your loved ones won't be plunged into chaos during a time of distress.
-
AI-Powered Investing in 2026: How Algorithms Will Shape Your PortfolioAI is becoming a standard investing tool, as it helps cut through the noise, personalize portfolios and manage risk. That said, human oversight remains essential. Here's how it all works.
-
If You'd Put $1,000 Into Caterpillar Stock 20 Years Ago, Here's What You'd Have TodayCaterpillar stock has been a remarkably resilient market beater for a very long time.
-
Good Stock Picking Gives This Primecap Odyssey Fund a LiftOutsize exposure to an outperforming tech stock and a pair of drugmakers have boosted recent returns for the Primecap Odyssey Growth Fund.
-
More Tools to Build a Bond LadderVanguard aims to launch a line of target-maturity corporate bond ETFs.
-
A Newly Retired Couple With a Portfolio Full of Winners Faced a $50,000 Tax Bill: This Is the Strategy That Helped Save ThemLarge unrealized capital gains can create a serious tax headache for retirees with a successful portfolio. A tax-aware long-short strategy can help.
-
5 Retirement Myths to Leave Behind (and How to Start Planning for the Reality)Separating facts from fiction is an important first step toward building a retirement plan that's grounded in reality and not based on incorrect assumptions.
