If you looked just at the week-over-week change in the S&P 500 (Index: SPX), you might think that not much newsworthy happened to influence stock prices during the final trading week of January 2025. The index fell just one percent from its previous week’s close, ending at 6,040.53 on Friday, 31 January 2025.But the same is not true for Nvidia (Nasdaq: NVDA which lost 17.0% of its total market capitalization on Monday, 27 January 2025 after news that China’s DeepSeek artificial intelligence application was up and running became public over the weekend. That news shook AI stocks like Nvidia because the new AI system was reported to not require the company’s high-end computer chips to be a viable competitor to established AI systems.As that happened, NVDA stock went from accounting for 6.96% of the S&P 500’s total market capitalization to 5.94%. That’s the difference between being the biggest publicly-traded company in the index to the third-biggest.According to S&P’s Howard Silverblatt, Nvidia’s stock had a 171% gain in 2024, contributing a little over one-fifth to the S&P 500’s overall return of 25% for the year by itself. 2025 is shaping up to be a very different year for the AI stocks that powered the index in 2024.Regardless, the latest update of the alternative futures chart finds the S&P 500’s trajectory remained consistent with investors continuing to focus on the distant future quarter of 2025-Q4 through the past week, where the likely timing of a second rate cut by the Fed during 2025 is drawing their forward-looking attention.latest updateHere are the daily highlights of the market moving headlines investors absorbed during the trading week.Monday, 27 January 2025
- Renewed inflation worries help drive oil price rally
- Oil hits 2-week low as China’s DeepSeek AI spurs demand fears
- US new home sales exceed expectations; rising supply curbs house price growth
- China Jan manufacturing activity unexpectedly contracts, hits five-month low
- China’s industrial profits fall 3.3% in 2024, third year in the red
- BOJ may revert to fuzzy communication after Fed-style clarity on rates
- ECB’s Lagarde warns over cost of losing independence
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DeepSeek’s ‘Sputnik moment’ prompts investors to sell big AI players
- DeepSeek’s ‘Sputnik moment’ prompts investors to sell big AI players
- DeepSeek artificial intelligence application
Tuesday, 28 January 2025
- Oil prices rebound from multi-week lows as investors brace for Trump tariffs
- US house price growth moderates in November
- US labor union membership slips in 2024 to record low
- BOJ to raise rates again by July, eventually eye hike to 1.5%, says ex-policymaker
- Japan’s corporate service inflation hits 2.9%, signals broadening price pressure
- Germany in deep economic crisis, BDI industrial lobby group says
- Germany must address structural weaknesses to keep AAA rating, Scope says
- How does Nvidia’s $593B market cap wipeout compare to Mag 7 peers?
Wednesday, 29 January 2025
- Oil prices slip as US inventories rise; tariff concerns in focus
- Record US goods trade deficit seen cutting into fourth-quarter GDP growth
- Companies eye US expansion to lessen fallout from potential tariffs
- FACTBOX: All of Donald Trump’s tariff threats
- Fed leaves rates unchanged, sees no hurry to restart cuts
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Fed stands pat, leans hawkish with omission of inflation-progress reference
- Fed chief Powell does not comment on Trump’s ‘demand’ to decrease interest rates
- Fed entering tough period for measuring money market liquidity
- Bank lending prospects among key inputs for policymakers at Fed meeting
- Bank of Canada cuts growth forecasts for 2025 and 2026
- Bank of Canada cuts rates, says tariff war could be very damaging
- Kuroda’s ‘bazooka’ was losing fans within BOJ by time it was expanded, minutes show
- BOJ board signalled intent to keep hiking rates, December meeting minutes show
- BOJ will keep raising rates if economy on track, deputy governor Himino says
- Swedish central bank cuts policy rate eying weak economy
- Nasdaq leads Wall St higher, tech shares recover from Monday’s sell-off
Thursday, 30 January 2025
- Oil wavers as markets await clarity on Trump tariffs on Canada, Mexico
- Weak business spending restrains US economy; domestic demand robust
- Companies race to ship goods to the US ahead of potential tariffs
- Bank of England readies rate cut and could hint at more to come
- ECB rate decision: European central bank expected to cut again
- BOJ will keep raising rates if economy on track, deputy governor Himino says
- BOJ must maintain monetary support, says governor Ueda
- Core inflation in Japan’s capital hits 1-year high, keeps BOJ rate-hike bets alive
- ECB cuts rates and governors expect more amid weak growth
- ECB rate decision: European central bank expected to cut again
- Stocks muted as ‘Magnificent Seven’ earnings land; gold nears record
- Gold prices hit all-time highs as the U.S. dollar and bond yields sink: SA Charts
Friday, 31 January 2025
- US inflation rises in December; consumer spending accelerates
- Trump is getting the lower interest rates he demanded from everyone but the Fed
- Oil set for weekly decline as Trump tariff threat looms large
- Trump Slaps 25% Tariffs On Canada & Mexico, 10% On China
- Traders bet Fed’s next rate cut will wait until June
- Bowman: Inflation risks to the upside, further rate cuts should be gradual, cautious
- Fed’s Goolsbee comforted by latest inflation data, worried about tariffs
- Exclusive: Chinese workers in BYD Brazil factory signed contracts with abusive clauses, investigators say
- S&P 500, Dow ease as White House says Trump to implement tariffs
The CME Group’s FedWatch Tool continues to anticipate the Fed will next act to cut interest rates by a quarter point on 18 June (2025-Q2). However, the projected timing of a second rate cut in 2025 has moved up from 10 December to 29 October (2025-Q4).The Atlanta Fed’s GDPNow tool’s final projection of real GDP growth rate for the now-past quarter of 2024-Q4 was a +3.0% annualized growth estimate, which overshot the BEA’s official first estimate of GDP in 2024-Q4 of 2.3% annualized growth. The GDPNow tool’s first projection of what real GDP growth will be in the first quarter of 2025 is 2.9%.More By This Author:The Changing Composition Of The U.S. Stock Market New Home Market Cap Points To Disappointing Year U.S. Recession Probability Plunges To 27%
