Tuesday's Markets Update (January 28, 2025)

28 Jan 2025 by rate3

On Tuesday, stocks rebounded as tech rose from an AI-driven sell-off. Nvidia surged +8%, while Apple and Microsoft also gained. The dollar is up again due to new tariff threats. BTC, ETH, and SOL's recoveries were reversed under the pressure of bearish technicals, with ETH being affected the most heavily.

Details

Durable goods orders fell 2.2% to $276.1B in December, missing forecasts of a 0.6% rise, driven by a 7.4% drop in transportation equipment. Excluding transportation, orders rose 0.3%, while business investment proxy increased 0.5%. 1Y trend: "Side" (Census)
The Dallas Fed service sector index fell to 7.4 in January from 10.8, reflecting a broader slowdown in business activity due to higher rates. Employment and wages rose, while input costs and price increases eased. Future expectations for orders and shipments declined. 1Y trend: "Down" (RFed)

Crypto

World Markets

Zimbabwe’s monthly inflation surged to 10.5% in January, driven by higher food, housing, and utility costs amid drought and after bureaucrats imposed taxes on "excessive spendings" such as sport betting and fast-food. Dollar inflation rose to 11.5%, while the gold-backed ZIG currency depreciated nearly 2%. 1Y trend: "Up"(RBZ)

Currencies

The dollar rebounded as Trump announced tariffs on imported chips, pharmaceuticals, and metals to boost domestic production. Traders remained cautious ahead of the February 1 deadline for tariffs targeting China, Mexico, and Canada. 1Y trend: "Up"