Stocks Recover as Data Storage Companies and Chip Makers Rally

Market Overview - US stocks initially opened lower due to concerns about Federal Reserve independence amid attacks from the Trump administration, but later recovered with the S&P 500 and Nasdaq 100 reaching new highs [2][4] - The S&P 500 Index closed up +0.16%, the Dow Jones closed up +0.17%, and the Nasdaq 100 closed up +0.08% [5] - European stocks also rose, with the Euro Stoxx 50 reaching an all-time high, and China's Shanghai Composite climbing to a 10.5-year high [3][8] Sector Performance - Data storage and chip makers led the market rally, with Western Digital up more than +6% and Seagate Technology up more than +5% [13] - Mining stocks surged as gold and silver prices hit all-time highs, with Hecla Mining up more than +8% and Coeur Mining up more than +5% [14] - Credit card companies and bank stocks declined after President Trump announced a potential cap on interest rates, with Synchrony Financial down more than -8% [15] Economic Indicators - The market is focused on upcoming economic news, including CPI and PPI data, with December CPI expected to remain at +2.7% year-over-year [6] - Q4 earnings season is set to begin, with S&P earnings growth projected to increase by +8.4%, excluding major tech stocks which are expected to grow by +4.6% [7] Interest Rates - The 10-year T-note yield rose to a one-month high of 4.205% amid concerns about Fed independence and rising inflation expectations [9][10] - European government bond yields fell, with the 10-year German bund yield down to 2.841% [12]