Pre-Markets Reflect on High Valuations: Q4 Earnings, Econ Data Continue

Friday, January 24, 2025

It’s been a sublimely successful shortened week of trading in the stock market this week. The S&P 500 just notched a new all-time closing high Thursday afternoon. The Nasdaq, unsurprisingly, has led the major indexes over the past five trading days, but actually trails the field over the past month. Year to date, we’ve blasted off mid-month lows over the past week and a half.

That said, we’re currently in the red across the board this morning. New record closing highs have a way of triggering a more reflective attitude — at what point in this exuberant mood with the onset of a new Trump administration, and subsequent deregulation, etc. are equities becoming overvalued? The Dow is lower by -118 points at this hour, the S&P is presently giving back -10 points, the Nasdaq -31 and the small-cap Russell 2000 -5.

Q4 Earnings Results at a Glance: AXP, VZ, NEE

American Express AXP is currently riding a four-quarter positive earnings winning streak with this morning’s Q4 beat, albeit by a penny to $3.04 per share. Revenues of $17.18 billion were a smidge ahead of the Zacks consensus, but basically in-line. Shares o the credit card major have surged nearly +10% year to date, but are giving back a small portion of that on the news in this morning’s pre-market. For more on AXP’s earnings, click here.

Check out the updated Zacks Earnings Calendar here.

Communications giant Verizon VZ also beat Q4 earnings expectations by a penny to +$1.10 per share (and 2 cents above the year-ago quarter) on $35.68 billion in quarterly revenues which came in ahead of the Zacks consensus by +0.79%. Shares have lagged the S&P year to date, but are ratcheting up +1.3% in today’s pre-market on the Q4 report. For more on VZ’s earnings, click here.

What to Expect in the Stock Market Today