Stock Market Today, Jan. 9: Rocket Companies Surges After Trump Floats $200 Billion Mortgage Bond Purchase Plan

Rocket Companies (NYSE:RKT), a mortgage and real estate-focused fintech platform, closed Friday’s session at $23.29, up 9.65%. Rocket Companies IPO'd in 2020 and has grown 8% since going public. Trading volume reached 69.9 million shares, about 111% above its three-month average of 33.4 million shares.Friday’s trading saw housing-sensitive names react to President Donald Trump’s floated $200 billion mortgage-bond purchase plan, and investors are watching how lower borrowing costs could affect mortgage originations. The S&P 500 (SNPINDEX:^GSPC) rose 0.65% to 6,966, while the Nasdaq Composite (NASDAQINDEX:^IXIC) gained 0.81% to close at 23,671. Within mortgage finance industry peers, PennyMac Financial Services (NYSE:PFSI) climbed 6.41% and Manhattan Bridge Capital (NASDAQ:LOAN) edged up 0.66%, reflecting broader optimism around potential policy support for housing credit.Rocket Companies hit a new 52-week high following President Trump's proposed mortgage-bond purchase, meant to combat high home prices. Investors piling into the stock is an indication that the move could loosen the tight housing market and potentially lead to lower mortgage rates. Today's stock movement was also impacted by , with call contracts seeing volume 53% above normal. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool