stock news today
As of January 30, 2025
Global Markets Overview
- Asian Markets: Shares in Asia mostly rose on Thursday following the U.S. Federal Reserve's decision to maintain current interest rates. Japan's Nikkei 225 increased by 0.4%, and Australia's S&P/ASX 200 climbed by 0.7%. Some regional markets remained closed due to the Lunar New Year holiday.
Corporate Earnings and Developments
Tesla: Despite missing earnings expectations, Tesla's stock rose after CEO Elon Musk provided an optimistic outlook, highlighting advancements in self-driving technology and projecting significant developments by 2026.
Meta Platforms: The company reported mixed results, with quarterly sales surpassing estimates but offering a muted outlook for the future.
Norway's Sovereign Wealth Fund Achieves Record Profit
- Norway's sovereign wealth fund reported its highest profit in nearly three decades, achieving a gain of 2.51 trillion kroner ($222 billion) in 2024. This success was largely driven by substantial investments in major U.S. technology companies, including Apple, Microsoft, Alphabet, and Nvidia.
Federal Reserve's Interest Rate Decision
- The U.S. Federal Reserve opted to keep interest rates unchanged, with Chair Jerome Powell expressing confidence in the current inflation trajectory. He indicated that rates are likely to remain steady unless there are significant changes in inflation or the job market.
Market Movements
- U.S. markets experienced slight declines, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all closing lower. Notably, Nvidia's stock fell sharply due to concerns over AI development costs, significantly impacting the S&P 500.
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