U.S. Indexes Trim Gains After Strong Week
WSJ Minute Briefing
Deep Dive
Shownotes Transcript
In today's enterprise, how are CIOs creating more impact in the C-suite and with the board? What does it mean to be a blended executive? Learn more on the fourth episode of Tech Fluential, a podcast from Deloitte and custom content from WSJ. Here's your closing bell brief for Friday, January 24th. I'm Danny Lewis for The Wall Street Journal. A strong start to earnings season has helped lift spirits on Wall Street.
For the week, the Dow Jones Industrial Average gained 2.2%. The S&P 500 and the Nasdaq both rose 1.7%. President Trump has also somewhat eased investor worries that his administration would immediately issue steep tariffs. The dollar weakened after Trump told Fox News he would, quote, rather not have to use his tariff plan against China.
A slight stock pullback came today, however, after the S&P 500 hit its first record close of the year yesterday. The Dow Jones Industrial Average fell about 141 points to close at 44,424. The S&P 500 slipped 17.5 points, and the Nasdaq lost 99 points.
In individual companies, American Express posted higher quarterly profit, beating expectations. But its outlook for the year disappointed some investors. The credit card company's stock fell 1.4%. Shares in Verizon climbed almost 1% after its latest earnings topped Wall Street forecasts. The telecom giant said higher prices helped boost revenue as more people signed up for wireless service than expected.
And stock in Novo Nordisk surged 8.5% after the maker of Ozempic and Wegovy said a clinical trial showed an experimental weight loss drug helped patients lose 22% of their body weight. We'll have more coverage of the day's news on the WSJ's What's News podcast. You can add it to your playlist on your smart speaker, or listen and subscribe wherever you get your podcasts.