The S&P 500 Index rose by 0.56% today, while the Dow Jones Industrial Average and Nasdaq 100 increased by 0.72% and 0.59%, respectively. This uptick comes as President Trump shifted his stance on Greenland, prompting a relief rally that was boosted by NATO’s confirmation that the discussions did not affect the territory’s sovereignty. Additionally, natural gas prices surged over 12% to reach a three-year high, driven by increased demand due to an Arctic cold front across the eastern U.S.
In economic news, U.S. weekly initial unemployment claims rose by 1,000 to 200,000, which was better than the anticipated 209,000. Q3 GDP was revised up to 4.4%, higher than the expected 4.3%. Moreover, personal spending and the core PCE price index met expectations, showing stability in the economy. The upcoming focus remains on key economic indicators, including the January S&P U.S. manufacturing PMI and consumer sentiment index, as the earnings season begins with 81% of S&P 500 companies reporting positive results thus far.
In international markets, the Euro Stoxx 50 gained 1.21%, while China’s Shanghai Composite and Japan’s Nikkei 225 also showed positive trends. Meanwhile, U.S. bond yields are experiencing pressure as stocks rise and inflation expectations increase, with the 10-year T-note yield at 4.271% today.
