Trading results for 23 January 2025

After three consecutive days of post-inaugural growth with upward gaps, many analysts believed the market was due for a pause. The first half of Thursday reflected this sentiment. Indeed, trees do not grow to the sky: on Wednesday, the S&P 500 index hit a new all-time high, so a slight correction on Thursday seemed logical. Unsurprisingly, the main trading session opened slightly in the red, and during the first hour, the decline appeared to deepen. However, market optimism eventually prevailed, driven by pre-market quarterly reports from major players like GE Aerospace (formerly General Electric, GE, +6.60%) and leading U.S. railroad carrier Union Pacific (UNP, +5.20%).

Additionally, for the first time in a while, healthcare stocks supported the overall positive mood. Investors suddenly turned their attention to this underperforming sector, realising it had yet to see significant growth this year. Naturally, laggards were pulled up to match the gains of the leaders. As a result, healthcare stocks were the day’s best performers, averaging a 1.24% gain.

By the end of the day, the market gained momentum, with sentiment noticeably improving. All indexes closed firmly in positive territory, and a final 15-minute surge allowed the S&P 500 to set new all-time highs, both at close and in absolute terms. Even the NASDAQ Composite, which spent most of the day in negative territory, managed to end in the green with a 0.22% gain.

Indexes in the ITS family joined the rally, with the global market index ITS World (ITSW) rising by 0.47% and the ITS Shariah Index (ITSS) gaining 0.45%. Interestingly, neither GE nor UNP – the day’s main growth drivers – are included in these indexes. Nevertheless, their well-diversified portfolios found growth drivers independent of U.S. market conditions. For example, the ITSW index’s top performers included Japan’s Sony Group (SONY, +2.15%), which outpaced healthcare leaders like UnitedHealth (UNH, +1.93%) and Novartis (NVS, +1.89%).

Both ITS indexes are now approaching their historical highs, and with continued market growth – which seems highly likely – these levels could be surpassed in the coming days.