NYSE Pre-Market Update: Tech Sell-Off, GM's Strong Performance, and More
Tuesday, Jan 28, 2025 9:00 am ET
5min read 
The NYSE pre-market update for January 28th is dominated by the recent tech sell-off, triggered by concerns over the high costs associated with developing AI models. The S&P 500 and Nasdaq Composite both fell sharply on Monday, with the S&P 500 dropping about 1.5% and the Nasdaq Composite sliding over 3%. The Dow Jones Industrial Average, however, bucked the trend and rose by 289.33 points, or 0.65%. This tech slump was triggered by concerns over a Chinese start-up, DeepSeek, which raised doubts about the high costs associated with developing AI models.
Meanwhile, General Motors (GM) reported strong quarterly results, beating top- and bottom-line expectations. The company's adjusted earnings per share came in at $1.92, and revenue was $47.7 billion. GM also raised its 2025 earnings forecast, which is positive for long-term investors. The company's strong performance can be attributed to its focus on electric vehicles (EVs) and innovative technologies, as well as its strategic partnerships and cost-cutting measures.
In other news, Boeing (BA) posted its sixth consecutive annual loss, losing nearly $4 billion in the fourth quarter. The plane-maker is trying to stage a turnaround, with CEO Kelly Ortberg detailing a plan to address the company's issues. However, investors remain uncertain about the company's long-term prospects.
As the market continues to evolve, investors must stay informed about the latest developments and trends. The recent tech sell-off serves as a reminder of the importance of diversification and the need to reassess expectations for growth in the AI sector. Meanwhile, General Motors' strong performance demonstrates the potential for success in the competitive automotive market, as the company continues to invest in innovation and adapt to changing market conditions. By staying informed and making strategic investments, investors can position themselves for long-term success in the dynamic stock market.
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