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U.S. stocks got off to a rocky start to 2025 on Thursday as the S&P 500 and Nasdaq Composite declined for a fifth straight day.
For both, it was the longest losing streak since April, according to Dow Jones Market Data.
Meanwhile, the Dow fell for a fourth straight day — its longest losing streak since Dec. 18, when the blue-chip gauge capped off a 10-day stretch of losses, Dow Jones data showed.
All three major U.S. equity benchmarks finished lower after a volatile session. Market watchers blamed the weakness in stocks on profit-taking, as well as a surge in the value of the U.S. dollar.
Here is where stocks finished, according to preliminary closing data from FactSet.
The S&P 500 shed 13.08 points, or 0.2%, at 5,868.55.
The Dow Jone fell by 151.95 points, or 0.4%, at 42,392.27.
The Nasdaq Composite fell by 30 points, or 0.2%, at 19,280.79.
Coterra Energy Inc. is expanding its investments in the Permian Basin by adding more assets to its $3.95 billion deal with Franklin Mountain Energy and Avant Natural Resources. Specifically, Coterra will purchase an additional 1,650 net royalty acres from Sandia Minerals LLC for $43 million, as disclosed in a December 31 SEC filing. These royalties were not part of its initial acquisition from Franklin Mountain. The purchase increases the total cost of the Franklin Mountain acquisition to $1.543 billion. This deal initially included 40.89 million shares of Coterra stock, valued at approximately $1 billion, and the separate deal with Avant is worth $1.45 billion. Collectively, these acquisitions will bring Coterra between 400 and 550 new net drilling locations, primarily located in Lea County, New Mexico.
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