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Today's Market

Michael P. Reinking, CFA
Sr. Market Strategist

January 17, 2025 at 9:15 a.m. Est.

Yesterday was a mixed session with tech continuing this week’s underperformance however, equities held the bulk of the previous day’s gains. While the S&P 500 was down 0.2% the equal-weight version of the index was up 0.8% and is outperforming the market cap weighted index by 1.5% this week (3.4% WTD). Part of yesterday’s strength came following comments from influential Fed Governor Waller who suggested that if ongoing inflation data was similar to this week’s data that rate cuts in the first half of the year were still on the table, a much more dovish view than the current market narrative.

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