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S&P 500 Hits First Record of the Year

S&P 500 Hits First Record of the Year

Update: 2025-01-23

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A strong start to earnings season and President Trump’s support for tax cuts and deregulation have buoyed the stock market. Plus: UnitedHeathCare names new CEO after the killing of Brian Thompson. GE Aerospace shares surge after beating analyst expectations. And American Airlines stock falls after predicting a bigger-than-expected quarterly loss. Danny Lewis reports.

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Transcript

00:00:00

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00:00:31

[Música]

00:00:34

Here's your closing bell brief for Thursday, January 23rd.

00:00:38

I'm Danny Lewis for the Wall Street Journal.

00:00:40

The S&P 500 hit its first record of 2025 today.

00:00:45

The major index rose 32 points about half a percent.

00:00:48

The Dow Jones industrial average gained 408 points, almost a percent, to close at 44,565.

00:00:56

The NASDAQ advanced 44 points.

00:00:59

A strong start to earning season and President Trump's support for tax cuts and deregulation have buoyed stocks to start the year.

00:01:07

The market got another boost this week when Trump and tech leaders unveiled the $500 billion stargate project, reinvigorating investor's enthusiasm for artificial intelligence.

00:01:18

Trump also made fresh tariffs during a video call with business leaders at the World Economic Forum in Davos, Switzerland, saying companies that don't make their products in the U.S.

00:01:28

could be targeted.

00:01:30

In individual companies today, UnitedHealthCare named Tim Knowle as its new CEO after the killing of Brian Thompson last month.

00:01:38

Stock in its parent company, UnitedHealth Group, rose almost 2%.

00:01:44

Shares in GE Aerospace surged 6.6% after a strong earnings report.

00:01:49

The jet engine maker beat Wall Street estimates on quarterly profit and revenue and ended 2024 with fourth quarter orders up 46%.

00:01:59

And Stock in American Airlines tumbled 8.7% after the carrier predicted a bigger than expected quarterly loss.

00:02:06

The company's finance chief told the journal that new labor contracts and reduced flying capacity are pushing up costs.

00:02:13

We'll have more coverage of the day's news on the WSJ's What's News podcast.

00:02:18

You can add a tier playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

00:02:23

S&P 500 Hits First Record of the Year

S&P 500 Hits First Record of the Year

The Wall Street Journal

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