Markets
Luke Kawa
1/15/25

Banks, Magnificent 7 power biggest gains for US stocks since Trump’s election win

The S&P 500 soared 1.8%, the Russell 2000 jumped 2%, and the Nasdaq 100 outdid them both with a 2.3% advance on Wednesday.

Data showing US inflationary pressures cooled in December and solid earnings reports fueled the S&P 500’s best day since the session following the election in November. Ten-year Treasury yields, meanwhile, had their biggest one-day decline since early August when the unemployment rate unexpectedly jumped.

Every S&P 500 sector ETF gained with the exception of consumer staples.

Banks had a fantastic session as the fourth-quarter reporting period unofficially kicked off. Strong results buoyed Goldman Sachs, Wells Fargo, Citi, and JPMorgan, with the last two hitting 52-week highs.

The Magnificent 7 cruised higher, headlined by Tesla’s 8% advance amid a litany of mixed headlines.

Buoyant stock and crypto activity propelled Robinhood Markets up 9.1% to finish at its best level since August 2021. (Sherwood Media is an independent subsidiary of Robinhood Markets, Inc.)

Heavily shorted stocks like AMC, Riot, and SoundHound AI also booked big gains on the day.

Lowlights amid the sea of green included Lululemon, Hershey, and United Airlines.

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Rocket lab soars to new record close amid rally for retail faves

Rocket Lab ripped by roughly 10% Friday to close at a new all-time high, riding an upturn of retail enthusiasm for a coterie of tech-themed favorites, even as the broader market was more or less flat on the day.

Goldman Sachs’ basket of “retail favorites” — its heaviest weights are Reddit, AppLovin, and Tempus AI — was the second-biggest gainer among the company’s flagship US equity baskets on Friday, rising about 1.6%. The S&P was almost dead flat.

It’s not Rocket Lab’s first retail rodeo, as the money-losing company has more than doubled this year and is up nearly 700% over the last 12 months.

Oracle Wall Street Revisions

Analysts revise up anything and everything they thought about Oracle

After the company’s bombshell earnings this week, Wall Street thinks Oracle’s trajectory has changed.

markets

Six Flags pops after reiterating its guidance as theme park attendance rebounds

Six Flags shares rose more than 7% today after the company reported a rebound in attendance and early season pass sales heading into the fall. The nine-week period ended August 31 saw 17.8 million guests, up about 2% from the same stretch last year, with stronger momentum in the final four weeks. 

More importantly, Six Flags reaffirmed its full-year adjusted EBITDA guidance of $860 million to $910 million, showing confidence that its cost and operations strategy can stay strong for the duration of the year. Riding that wave, Six Flags also said early 2026 season pass unit sales are pacing ahead of last year, and average season pass prices are up about 3%.

The good vibes come despite a drop in in-park per-capita spending, especially from admissions, where promotions and changes to attendance mix (which parks or days guests visit) have weighed. Earlier this week, the amusement giant signed a new agreement that extended its position as the exclusive amusement park partner for Peanuts™ in North America through 2030.

Despite the rally, Six Flags shares are down about 52% year to date.

markets

Rivian turns red on the year, squeezed by a recall and the looming end of the EV tax credit

Shares of EV maker Rivian are down more than 5% on Friday following the company’s recall of 24,214 vehicles due to a software issue. The stock move erases Rivian’s year-to-date gain and turns the company negative on the year.

Rivian’s 2025 model year R1S and R1T are affected by the defect, which was identified after a vehicle’s hands-free highway assist software failed to identify another vehicle on the road, causing a low-speed collision. Rivian said it’s released an over-the-air update to fix the issue.

The recall marks Rivian’s fifth this year, affecting nearly 70,000 of its vehicles.

Rivian’s shares are down more than 20% from their 2025 high, which came prior to the passage of President Trump’sbig, beautiful bill.” Through the legislation, the $7,500 EV tax credit is set to expire at the end of the month.

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