M360 Roundup - Volume 73
January 3rd - 7th, 2025
Cole LaCour
Equity markets fell Friday on inflation concerns, but the S&P remains up 2.5% for the year
While a 10% tariff on Chinese imports is in effect, broader tariffs remain uncertain, with those on Mexico and Canada suspended pending further negotiations
The S&P 500 is up 0.94%, the Nasdaq is up 1.60%, and the Dow Industrials is up 0.08% WTD
The 10-Yr U.S. Treasury yield has decreased -0.048% to a current yield of 4.495%, whereas the 30-Yr U.S. Treasury yield decreased -0.101% to a current yield of 4.693%
Crude oil prices decreased 3.95% to a current $71.01/bbl while bitcoin decreased 1.85% to a current $95,873.25/coin
Markets have largely dismissed Trump's escalating tariff threats as negotiating tactics, but the risks of a real trade war—with higher tariffs, supply chain disruptions, and economic backlash—are growing, especially with long-term allies like Canada pushing back [WSJ]
Job quitting and hiring have slowed as opportunities to trade up diminish, with companies focusing on cost control, making the job market tougher, especially for white-collar workers [WSJ]
DeepSeek’s AI breakthrough shook Wall Street, triggering a $1 trillion stock market wipeout, with Nvidia suffering its worst-ever loss as investors feared reduced demand for its high-end chips [WSJ]
Auto stocks are plunging as Trump’s 25% tariffs threaten North American supply chains, with GM and Volkswagen hit hardest [WSJ]
Recent developments across four key industries highlight U.S. crude oil stockpiles rising and the White House preparing an executive order to cut thousands of HHS jobs
Energy & Natural Resources
U.S. refiners rallied as tariffs on Canadian and Mexican oil were delayed, easing cost concerns, though potential future tariffs could still disrupt supply chains and refinery operations [WSJ]
Conoco's Q4 net income fell with energy prices, but it expects production growth in 2025, plans increased shareholder returns, and boosts dividends following its Marathon Oil acquisition [WSJ]
U.S. crude oil stockpiles rose more than expected amid increased production, while gasoline inventories grew for the 12th straight week, highlighting strong supply buildup [WSJ]
Technology, Media, & Telecommunications
Apple, heavily exposed to tariffs, faces tough choices on absorbing costs or raising prices, as investors react to potential hits on sales and margins [WSJ]
Healthcare & Life Sciences
The White House is preparing an executive order to cut thousands of HHS jobs, potentially affecting key health agencies, though final plans remain uncertain [WSJ]
Financial Services
BPER Banca launched a €4.3 billion all-share bid to acquire Banca Popolare di Sondrio, aiming to expand its scale and client base amid Italy’s ongoing banking consolidation wave [WSJ]
Danske Bank announced a $695.8 million share buyback and strong annual net profit of 23.63 billion kroner, beating its forecast, while projecting steady growth and a dividend payout of 14.7 kroner per share [WSJ]