‘Pray for Trump’ Trends as ‘Unrelated’ Ambulances Attend Mar-a-Lago
Stocks dropped Friday led by a decline in mega-cap tech firms. The 10-year Treasury yield jumped above 4.6%. Still, equities ended the holiday-shortened week in the green. US stocks sank on Friday as technology firms led a broad-sweeping decline across each major index. The tech-heavy Nasdaq Composite fell 1.49% while the S&P 500 lost 1.11%. The Dow Jones shed 333 points to end the day. "I think what you see today is a lack of faith," UBS senior portfolio manager Alan Rechtschaffen told CNBC , citing uncertainty around trade and productivity. A sell-off in government bonds is also weighing on equity appetite, with the 10-year Treasury yield now trading above 4.6%. Bond traders may be adjusting to expectations of higher-for-longer interest rates next year, and are monitoring how the Trump administration responds to rising fiscal deficits. Despite Friday's sharp decline, indexes remained in the green for the holiday week. Investors may still be holding out for stocks to rally into the year-end, as is typical during the last five trading days of the year. While gains have been made during the holiday-shortened week, it could bode ill if the so-called Santa Claus rally fails to manifest. "When Santa doesn't show up and stocks are lower over this period, the S&P 500 has generated an average January and forward annual return of -0.02% and 5.0%, respectively," Adam Turnquist chief, technical strategist for LPL Financial, wrote this week. Here's where US indexes stood shortly after the 4:00 p.m. closing bell on Friday: S&P 500 : 5,970.84 ( -1.11%) Dow Jones Industrial Average : 4 2,992.21 ( -0.77%) Nasdaq composite : 19,722.03 ( -1.49%) Here's what else is happening: Warren Buffett's Berkshire Hathaway is buying up shares of internet domain provider VeriSign. Apple stock has 26% upside as its AI strategy unlocks a 'new era' of growth, Wedbush says. De Beers builds up the largest diamond stockpile since the 2008 crisis as demand slumps, report says. Why not to worry about overstretched stock valuations in 2025 , according to one strategist.
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Luke Humphries bid for back-to-back World Championship titles on track after winTrump asks Supreme Court to delay TikTok ban so he can weigh in after he takes officeThe field for the Olympic mixed doubles curling trials includes a who’s who of Canadian curling. The 16 teams announced Tuesday compete Dec. 30, 2024, to Jan. 4, 2025, in Liverpool, N.S., for the right to represent Canada at the 2026 Olympic Games in Milan-Cortina, Italy. Mixed doubles made its Olympic debut in 2018, when Canada’s Kaitlyn Lawes and John Morris claimed the first gold medal in Pyeongchang, South Korea. The 2025 trials winner must help qualify Canada for the Winter Games and will do that at the 2025 world championship April 26 to May 3 in Fredericton. The top eight countries in World Curling’s rankings will compete in Italy. The 2024 world mixed doubles championship was also a qualifying factor. Canada ranks fifth in the world after Colton and Kadriana Lott of Gimli, Man., reached the playoff round in Aberdeen, Scotland. The Lotts, Brendan Bottcher and reigning women’s world champion skip Rachel Homan, Lisa Weagle and John Epping, Laura Walker and Kirk Muyres, and the husband-and-wife duos of Jennifer Jones and Brent Laing, and Jocelyn Peterman and Brett Gallant, are in the trials field. Peterman and Gallant were world championship silver medallists in 2019 and Walker and Muyres, the top-ranked team in Canada, were bronze medallists in 2018. Eight teams gained entry to the Olympic trials via the 2024 national mixed championship, last season’s Canadian rankings or at one of three direct-qualifying events. The remaining eight top-ranked teams were confirmed after the Rocky Mountain Classic concluded Sunday in Banff and Canmore, Alta. The rest of the trials field includes Nancy Martin and Steve Laycock, Brittany Tran and Rylan Kleiter, Jennifer Armstrong and Tyrel Griffith, Riley Sandham and Brendan Craig, Taylor Reece-Hansen and Corey Chester, Anne-Sophie Gionest and Robert Desjardins, Melissa Adams and Alex Robichaud, Jessica Zheng and Victor Pietrangelo, Paige Papley and Evan Van Amsterdam, and the father-daughter duo of Jim Cotter and Jaelyn Cotter. Canada’s team trials will be Nov. 22-30 in Halifax. The mixed doubles trials were shifted to much earlier in the calendar to allow the winner more preparation time, particularly if those curlers aspire to represent Canada in both team and mixed doubles in Italy. No title sponsor nor broadcast partner has been announced yet for mixed trials. Games will be streamed on Curling Canada’s YouTube channel.