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People shop for a Tesla car in Yichang, China, on Dec. 31, 2024.
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U.S. equities edged higher on the first trading day of the new year as optimism about corporate growth in the future was dampened somewhat by concerns about the tech sector.
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Uber Technologies and Norwegian Cruise Line Holdings were added to Goldman Sachs’ U.S. Conviction List.
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Apple cut prices of its iPhone in China as competition in the cellphone market there heats up.
U.S. equities began 2025 trading by edging higher at midday, as positive analysts’ comments were offset somewhat by technology concerns. The Dow Jones Industrial Average gave up big early gains to trade up 0.2%, while the S&P 500 and Nasdaq were 0.4% and 0.5% higher, respectively.
Shares of Uber Technologies (UBER) and Norwegian Cruise Line Holdings (NCLH) advanced when Goldman Sachs added both to its U.S. Conviction List, arguing both have promising growth potential ahead.
Shares of Unity Software (U) took off after “Roaring Kitty” posted a clip on X of the late singer Rick James, who had a song called “Unity,” which some saw as a sign the meme stock hero was promoting the stock.
Shares of Newmont (NEM) and rival gold miners were up as the price of the precious metal began the year jumping 1% after a record-setting 2024.
Tesla (TSLA) was the worst-performing stock in the S&P 500 after the electric vehicle (EV) maker posted disappointing fourth-quarter delivery numbers.
Shares of Neumora Therapeutics (NMRA) plunged to an all-time low when the biopharmaceutical company’s experimental depression drug failed to meet goals in a Phase 3 trial.
Apple (AAPL) shares dropped as the tech giant slashed prices for its iPhone in China as it faced increased competition.
Oil futures rose. The yield on the 10-year Treasury note was little changed. The U.S. dollar gained on the euro, pound, and yen. Most major cryptocurrencies traded higher.
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Spot gold price.
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