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T&G Market Recap: Banks Shine, Tech Slumps, and Bessent Faces the Music on Capitol Hill 💥💼

T&G Market Recap: Banks Shine, Tech Slumps, and Bessent Faces the Music on Capitol Hill 💥💼

Retail data flops, big banks pop, and Trump’s Treasury pick takes the hot seat — all while the market runs out of steam.

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Ben The Bull
Jan 16, 2025
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T&G’s Substack
T&G’s Substack
T&G Market Recap: Banks Shine, Tech Slumps, and Bessent Faces the Music on Capitol Hill 💥💼
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The Rally That Went Missing 🙃

One day after stocks partied like inflation was fixed for good, the markets just... ran out of gas on Thursday:

  • S&P 500 (^GSPC) fell ~0.2%: So much for that mid-week victory lap.

  • Dow Jones (^DJI) slipped 0.1%: Not a meltdown, but definitely lost the fireworks from Wednesday’s surge.

  • Nasdaq (^IXIC) tumbled ~0.9%: Tech took a nap, with Nvidia and Tesla leading the dozers. Yawn. 😴

The hype from Wednesday’s tamer inflation data? Deflated. Traders realized the Fed might have more to say (or do) about rates — plus, we got a new wave of bank earnings to parse and a new Treasury Secretary nominee to grill.

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