Markets: A Mildly Disappointing Friday

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One does rather wish the markets would make up their minds. The S&P 500, after a week of fidgeting, settled down a mere fraction – 0.06% to 6,940.01 – as Washington’s latest dramas proved more diverting than any actual economic news. The Nasdaq Composite mirrored the ennui, easing 0.06% to 23,515.39, while the Dow Jones Industrial Average, with a sigh of resignation, fell 0.17% to 49,359.33. A perfectly dreary end to the week, wouldn’t you say?

A Spot of Optimism (and Rockets)

The only real excitement, if one can call it that, came from the rather unexpected enthusiasm for space ventures. AST SpaceMobile, having secured a government contract – one assumes involving something terribly important and probably expensive – soared 14.29%. Firefly Aerospace, buoyed by an analyst’s upgrade, managed a respectable 12.30% gain. And Novo Nordisk, thanks to a regulatory nod for its weight loss treatment in the U.K., jumped 8.95%. One begins to suspect the entire market is looking for an escape route.

What It All Means (If Anything)

The week concluded with a modest decline. The S&P 500, down 0.38% over five days, and the tech-heavy Nasdaq, losing 0.66%, suggest a certain…hesitation. Investors are, naturally, preoccupied with the usual assortment of geopolitical absurdities – Greenland, apparently, is still causing trouble – and the tiresome speculation surrounding the next Federal Reserve Chair.

President Trump, it seems, is playing a little game with potential candidates, cooling on Kevin Hassett while bolstering Kevin Warsh’s position. Honestly, the whole affair is rather exhausting. The whispers about when the Fed might deign to cut rates this year are equally tedious. One longs for a little decisiveness, doesn’t one?

Yesterday’s earnings from Taiwan Semiconductor Manufacturing Company, combined with the U.S.-Taiwan trade deal – a tidy $250 billion investment in semiconductor production – did offer a glimmer of hope for the AI sector. Super Micro Computer and Micron Technology, predictably, enjoyed the reflected glory, posting gains of 11.00% and 7.76% respectively. One suspects it’s all rather speculative, of course, but a little speculation never hurt anyone, did it?

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2026-01-17 02:03