top of page

Market update: Friday 17th January 2025

Writer's picture: NexxtGen MarketsNexxtGen Markets

Good morning all,


Sorry there was no update yesterday, I had a day full of back to back meetings.


Apple Slips in Chinese Smartphone Market, Regional Banks Show Strength, and Crypto Soars Amid Trump Optimism


Market Highlights


  • Apple Falls to 3rd in China: iPhone sales growth slows, overtaken by Vivo and Huawei.

  • Crypto Surge: Anticipation of pro-crypto policies under Trump’s leadership drives gains.

  • Bank of America Doubles Profits: Strong investment banking performance bolsters results.

  • BP Job Cuts: Targets $2 billion in savings amid efficiency push.

  • Energy Stocks Lead 2025 Gains: Sector outperforms as investors pivot from tech.


Market Movers


RUM: Rumble Inc ▲12.59% – $12.25

BTC: Bitcoin ▲1.74% – $100,644.39

NEXT: NextDecade Corp ▲11.60% – $9.04

AAPL: Apple ▼4.04% – $228.26


News Highlights


Apple’s Tough Day


Apple experienced its steepest single-day decline since August, with shares down over 4% amid concerns about slowing iPhone sales and increasing competition. In 2024, Apple slipped to third place in China’s smartphone market, trailing Vivo and Huawei.


Crypto Markets Rally Ahead of Trump’s Inauguration


Excitement over President-elect Donald Trump’s pro-crypto stance has boosted the market. Coins like XRP (+13%) and Litecoin (+22%) led gains, while Bitcoin climbed past $101,423.


Why the Optimism?


Trump’s promises of crypto-friendly regulations and support for U.S.-based mining have fuelled positive sentiment. Analysts suggest 2025 could be pivotal for crypto.


Bank of America Posts Strong Q4 Results


Bank of America reported Q4 profits of $6.67 billion, more than doubling year-over-year. Revenue reached $25.5 billion, driven by a 44% rise in investment banking fees and a 3% increase in net interest income.


BP Job Cuts and Savings Target


BP announced plans to cut 4,700 jobs and reduce contractor roles by 3,000. The move is part of a cost-saving strategy aimed at achieving $2 billion in savings by 2026. Despite challenges, BP shares rose 1.4%, signalling investor confidence in its strategic shift.


Movers & Shakers

  • UNH: UnitedHealth ▼6.04% – $510.59


    UnitedHealth missed revenue estimates, falling short of analysts’ $101.76 billion expectation.

  • XLE: Energy Select Sector SPDR ▲0.72% – $93.24


    Energy stocks led market gains, up 8.3% in January.

  • KRE: SPDR S&P Regional Banking ETF ▼0.94% – $62.14


    Regional banks outperformed recently, with Citizens Financial and Huntington Bancshares showing strength.

What to Watch


Quantum Computing Stocks on the Rise


Quantum stocks surged on Thursday, highlighting investor interest in innovative tech:


  • Arqit Quantum ▲37%

  • Quantum Corp ▲15%

  • IonQ ▲5.5%


These developments underscore the growing potential of quantum technology to transform industries.


Join Us


Copy my strategies directly at https://bit.ly/nexxtgenmarkets.


Risk Warning


Trading and investing carry risks. You should seek professional advice before engaging in such activities. Leverage can amplify both gains and losses. Past performance is not indicative of future results. Full risk disclosure: http://nexxtgen.pro/risk.




Man in a suit smiling, sitting with folded hands. Black background. Text reads "Steve Halls, NexxtGen Markets" with signature below.

0 views0 comments

Recent Posts

See All

Comments

Rated 0 out of 5 stars.
No ratings yet

Add a rating
bottom of page