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Tech Slides, Banks Shine
Todayās stock market saw the Nasdaq take a hit, down nearly 0.9%, as Tesla and Nvidia struggled. Meanwhile, Morgan Stanley and Bank of America posted stellar earnings, proving that Wall Street dealmaking is alive and well.
Retail Sales Disappoint
Retail sales grew just 0.4% in December, missing expectations. While inflation continues to ease, cautious consumer spending could temper hopes for rapid rate cuts.
Scott Bessent Faces Congress
Treasury nominee Scott Bessent called US spending āout of controlā but promised a ānew economic golden age.ā His stance on tariffs and debt will be critical under Trumpās administration.
Why It Matters
From inflation and rate cuts to techās vulnerability and bank resilience, todayās market highlights the need for diversification in your portfolio.
Stay tuned as we track how these trends unfold in the weeks ahead.
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