The SPDR S&P 500 ETF has bounced back this week and surged to a new record high. SPY and other S&P 500 funds like VOO and IVV have risen in the last three straight days. These gains were driven by a recent inflation report that showed core prices dropped slightly last month.

The SPY ETF also jumped after Donald Trump’s swearing-in this week and the rising hope that he is using the tariff threat to negotiate trade deals. So, let us look at the top stocks that are driving the S&P 500 gains this year. 

The caveat here is that the year is still young, and a lot will change as companies publish their financial results. 

Constellation, Vistra, and GE Vernova

The top 3 companies in the S&P 500 index this year are in the energy industry. Constellation Energy stock price has jumped by almost 50% this year, while Vistra and GE Vernova have jumped by 35% and 30%. 

Constellation stock is up by over 183% in the last 52 weeks, helped by the deal to restart its nuclear power plant in a deal with Microsoft. Vistra has soared by over 367% as demand for the power utility company continued rising because of the AI trend. 

The AI macro theme has also helped GE Vernova do well. Just this week, Donald Trump witnessed the signing of a deal between OpenAI, Softbank, and Oracle that will see numerous data centers built this year. 

Micron Technology

Micron Technology stock price has jumped by about 30% making it the fourth-best performing company in the semiconductor industry. This growth happened because of the general view that the firm is highly undervalued and that the chip industry is doing well. 

A key catalyst emerged with the strong Taiwan Semiconductor earnings published earlier this month. The company will also benefit from the ongoing AI investments in the US.

Texas Pacific Land 

Texas Pacific Land, which we have covered before here and here, is another top-performing SPY ETF this year as it soared by over 28%. It has also jumped by over 185% in the last 12 months.

The main catalyst for the Texas Pacific Land is that its insiders have been buying the stock aggressively in the past few years. They bought 2,632 shares, currently worth over $3.7 million in the last 12 months. 

The company is also expected to benefit from the potential energy boom during the Trump administration.

Walgreens Boots Alliance

The other good-performing SPY ETF stock is Walgreens Boots Alliance, a company that has become a fallen angel in the past few years. Walgreens is up over 25% this year but has retreated almost 50% in the last 12 months.

The main reason for the Walgreens Boots Alliance stock price surge is that there are rumours that it will be taken private by Sycamore Partners. Such a move would help it to restructure its business in the private market and then it is listed as a leaner and better-performing company. 

The other top-performing SPY ETF stocks this year are firms like Applied Materials, CVS Corp, Arista Networks, Intuitive Surgical, and Citigroup.

On the other hand, the worst-performing companies in the SPY ETF are Edison International, Constellation Brands, Pacific Gas & Electric, Las Vegas Sands, Brown Forman, and Enphase Energy.

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The cryptocurrency market in 2025 is being reshaped by AI-driven innovations, with iDEGEN (IDGN) taking centre stage as one of the most intriguing projects in the sector.

Its revolutionary AI capabilities and unfiltered approach have positioned it as a standout contender, surpassing many established tokens.

On the other hand, Sui (SUI) is struggling to maintain its footing, with bearish indicators pointing towards further declines.

This contrast highlights iDEGEN’s growing dominance in the market, particularly as it outpaces competitors with a presale price of just $0.0133 and a staggering $17.7 million raised.

iDEGEN: AI agent

Unlike traditional tokens that rely on incremental upgrades or conservative roadmaps, iDEGEN has disrupted the market with a bold and unconventional approach.

This AI agent was designed to interact with users across platforms like Twitter, Telegram, and soon TikTok, leveraging its AI capabilities to generate engagement, controversy, and hype.

Its development strategy, which includes no censorship or corporate filters, has made it a favourite among crypto enthusiasts seeking an edge in the volatile market.

The IDGN token presale has been a resounding success, raising over $17.7 million to date. Its price, currently at $0.0133, reflects a steep climb from its initial stages, with early adopters already enjoying gains exceeding 75,000%.

iDEGEN’s innovative roadmap includes updates for video content generation, which could further cement its position as a leader in the AI-driven crypto space.

This impressive performance starkly contrasts Sui, which has been struggling to maintain momentum amidst bearish sentiment and declining investor confidence.

Sui price struggles as bearish sentiment grows

Sui’s recent market performance reveals a worrying trend. Trading at $4.37 as of Thursday, SUI has failed to sustain its bullish structure.

The token broke below its ascending trendline earlier in the week, triggering a significant shift in market sentiment.

The rejection at the retest level has solidified its bearish outlook, with momentum indicators like the RSI (45) and MACD suggesting further declines.

Technical analysis paints a bleak picture for Sui, with projections of a 14% decline to $3.75, its 200-day EMA.

A further drop to $2.96 would represent a 30% crash from current levels, raising concerns among traders.

Coinglass data indicates a long-to-short ratio of just 0.97, reflecting strong bearish sentiment.

While Sui’s technical challenges continue to mount, iDEGEN’s upward trajectory underscores the difference in their respective market strategies.

iDEGEN’s competitive advantage over Sui

From a pricing perspective, iDEGEN’s presale value of $0.0133 is a compelling entry point for investors, especially given its track record of substantial returns and robust community engagement.

In contrast, Sui’s higher price and bearish outlook make it less attractive in the current market environment.

iDEGEN’s innovative features, such as multi-platform integration and video content creation, provide it with a unique edge over tokens like Sui.

The project’s ability to generate hype and capitalise on controversy further differentiates it, highlighting the growing demand for AI-driven tokens that prioritise engagement over traditional financial models.

While Sui’s struggles are a reminder of the challenges facing many cryptocurrencies in 2025, iDEGEN’s success story offers a glimpse into the future of AI-powered crypto projects.

Its potential to redefine market dynamics and attract unprecedented capital inflows positions it as one of the most promising tokens of the year.

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Meta Platforms, the parent company of WhatsApp, has secured interim relief from India’s National Company Law Appellate Tribunal (NCLAT), which stayed the five-year ban imposed by the Competition Commission of India (CCI) on WhatsApp’s data-sharing practices.

The NCLAT bench highlighted that the ban on WhatsApp’s data-sharing practices, tied to its privacy policy, could disrupt the platform’s business model in India.

Meta Platforms had appealed the CCI’s November 18, 2024, ruling, which prohibited WhatsApp from sharing user data with other Meta entities for advertising purposes.

To stay the penalty imposed by the CCI, the tribunal ordered Meta to deposit 50% of the ₹213 crore fine. This interim deposit will be refunded if Meta prevails in the case. Meta has already paid 25% of the penalty to the CCI.

The NCLAT also noted that India’s forthcoming data protection law could address data privacy concerns, potentially mitigating issues raised in the current dispute.

The tribunal has scheduled the next hearing for March 17.

This regulatory battle revolves around a 2021 privacy policy update introduced by WhatsApp, which mandated users to accept revised terms or risk losing access to the platform.

The policy triggered widespread criticism for allegedly abusing Meta’s dominant market position, leading to the CCI’s ruling against the company in November 2024.

WhatsApp’s 2021 privacy policy under scrutiny

The origins of the controversy date back to January 2021, when WhatsApp introduced an in-app notification requiring users to agree to revised privacy terms by February of the same year.

The new terms allowed WhatsApp to share specific user data—including phone numbers, device information, and business interaction details—with other Meta entities such as Facebook and Instagram.

Critics labelled the policy as a “take it or leave it” ultimatum that left no room for opt-out options, unlike the flexibility provided to European users under GDPR regulations.

The CCI’s investigation concluded that WhatsApp’s updated policy granted Meta an unfair competitive edge by leveraging shared user data to strengthen its position in digital advertising.

As part of its ruling, the CCI imposed a five-year ban on WhatsApp’s data-sharing practices and a fine of ₹213.14 crore.

However, Meta’s legal defence has highlighted the upcoming Digital Personal Data Protection Rules, 2025, which are expected to provide a clearer regulatory framework for data-sharing practices.

Meta argues that enforcing the CCI’s order ahead of these legislative updates would disrupt its operations and render parts of the ruling obsolete.

Business impact and user autonomy in focus

Meta’s business model heavily relies on integrating data across its platforms to provide personalised advertising. In its petition, the company argued that the ban could undermine its ability to support businesses in India.

For example, fashion retailers leveraging WhatsApp to interact with customers would lose the ability to tailor advertisements on Facebook and Instagram, potentially impacting their sales.

Indian businesses are an integral part of Meta’s ecosystem, with Facebook India Online Services reporting record revenue of $351 million in the 2023-24 financial year.

The CCI’s directive, if upheld, could compel Meta to reconfigure its advertising services and pause several features, thereby disrupting its revenue streams.

On the other hand, the CCI’s stance emphasises the need for informed user consent.

The regulator asserts that users should not be forced to accept expanded data-sharing terms as a prerequisite for accessing WhatsApp.

This principle aligns with global trends in regulating digital platforms, as seen in Germany’s temporary prohibition of Facebook from processing WhatsApp user data in 2021 and Ireland’s hefty fine against WhatsApp for a prior privacy policy breach.

The future of data-sharing in India

The tribunal’s interim relief for Meta has opened the door for further legal deliberations, especially in light of India’s evolving data protection laws.

The Digital Personal Data Protection Rules, expected to be implemented by mid-2025, aim to harmonise data privacy standards across sectors.

This legislative development could potentially address concerns raised by the CCI while redefining the boundaries for corporate data-sharing practices.

Nonetheless, the case underscores the complexities of regulating global tech giants in diverse markets.

While Meta’s practices in Europe demonstrate compliance with stricter privacy laws, its Indian operations face criticism for adopting policies that allegedly undermine user autonomy.

The contrasting regulatory environments highlight the challenges of enforcing a unified global approach to data privacy.

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Qantas Airways (QAN.AX) reached new heights on Thursday as its shares climbed to a record high of A$9.54 during intraday trading before closing at A$9.42, marking a 0.5% gain for the day.

The rally followed the Australian flag carrier’s announcement of significant changes to its frequent flyer program, designed to win back cost-conscious travellers and address recent reputational challenges.

The revamp, set to roll out over the next 12 months, is being seen as a strategic move to increase customer loyalty and revenue.

The changes come after a tumultuous period for Qantas, marked by public outcry over the sale of tickets for canceled flights, among other controversies.

Qantas’ frequent flyer changes to boost loyalty among members

Qantas’ frequent flyer program, which generated A$2.5 billion in revenue in fiscal 2024—about 11% of the company’s total revenue—has been a cornerstone of the airline’s operations.

With 16.4 million members as of June 2024, the program plays a vital role in boosting customer retention and profitability.

The upcoming changes include increased availability of premium cabin reward seats, expanded partnerships with other airlines, and the introduction of lower economy reward seat fares within Australia.

Members will also benefit from earning more frequent flyer points on Qantas flights.

These improvements build on last year’s revamp, which added 20 million additional reward seats for purchase using points.

By further enhancing the program, Qantas hopes to solidify its position as the airline of choice for frequent travelers.

Changes to program coincides with peak holiday travel season

The timing of the announcement coincides with peak holiday travel season in Australia. Jessica Amir, a market strategist at trading platform moomoo, noted the seasonal demand for domestic and international travel as a tailwind for Qantas.

“Around this time of the year, we see peak travel and consumer discretion, with many Australians still on holiday until after Australia Day,” Amir said.

“Not only are Australians travelling domestically, but many Chinese nationals are also returning home. This increased demand for travel is expected to continue benefiting Qantas.”

According to the Australian Bureau of Statistics (ABS), total departures from Australia rose 11.6% year-over-year in November, while arrivals increased nearly 7% to 1.66 million.

Although the ABS does not disclose specific airline data, these figures reflect strong travel demand, which Qantas is well-positioned to capture.

What do analysts say about QAN share price?

Analysts are optimistic about Qantas’ future, with several major firms issuing bullish ratings for the stock.

Goldman Sachs has earlier called Qantas the “flagship carrier of Australia” and expects the airline’s passenger capacity to exceed pre-pandemic levels by fiscal 2025.

“By FY25, we forecast Qantas’ capacity will return to 102% of its pre-COVID level,” Goldman Sachs stated.

“We believe QAN is not priced for a generic recovery, let alone prospects for improved earnings capacity. We continue to see upside associated with substantially improved MT earnings capacity,” the brokerage said.

Morgan Stanley also rates Qantas a “buy,” setting a price target of A$10.50.

The brokerage pointed to factors like lower fuel costs boosting profitability and the possibility of further share buybacks in FY25 added to a strong travel demand.

Analysts say there remains some pent-up demand for travel, offering further growth opportunities for the airline industry.

Australia’s strong economic resilience and a historically low unemployment rate of 4.0% are expected to support both business and leisure travel.

This favorable economic backdrop provides a solid foundation for ongoing travel activity, both within Australia and internationally.

Qantas has already conducted several share buybacks in recent years, and analysts believe more could be on the horizon, further boosting investor confidence.

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Tesla has increased the prices of its entire vehicle lineup in Canada, with some models experiencing hikes of up to C$9,000 ($6,254.78). This move has sparked speculation about the impact of potential tariffs and supply chain challenges.

The price adjustment, effective from February 1, raises questions about Tesla’s strategy in a market where it relies entirely on imports.

Price hikes across Tesla’s Canadian lineup

Tesla’s Canadian website now lists substantial price increases across its vehicle range.

The Model 3, Tesla’s most affordable car, will see the steepest rise, with prices increasing by as much as C$9,000.

Variants of the Model Y are set to rise by up to C$4,000, while all versions of the luxury Model S and Model X will cost an additional C$4,000.

The company has not provided an official reason for the price hikes, but the timing aligns with rising concerns over US-Canada trade dynamics.

Tesla’s Canadian market entirely depends on imports from its factories in the US and Shanghai, which could be affected by tariffs or logistical challenges.

This setup exposes Tesla to additional costs tied to tariffs, fluctuating currency exchange rates, and shipping expenses, which are likely being passed on to Canadian consumers through the price increases.

US-Canada tensions

Earlier in the week, President Trump proposed a 25% tariff, citing concerns about border security and trade imbalances.

Trump specifically criticised Canada, describing it as “a very bad abuser,” and suggested the tariffs could be comprehensive, though he did not provide further details.

Canadian Prime Minister Justin Trudeau also reiterated his government’s readiness to respond to potential 25% tariffs on imports from Canada and Mexico, as suggested by US President Donald Trump.

These potential tariffs could impact a range of industries, including the electric vehicle market, intensifying the pressure on Tesla to adjust its pricing strategy.

Adding further complexity, Canada imposes a 100% tariff on imports of electric vehicles from China, which includes Tesla’s Shanghai-produced cars.

This tariff policy, combined with Tesla’s import-dependent business model in Canada, highlights the vulnerability of automakers to external trade policies and geopolitical shifts.

Strategic considerations for Tesla

The decision to raise prices may also reflect Tesla’s broader challenges in managing global supply chain disruptions.

Amid rising material costs and increasing competition in the electric vehicle market, Tesla’s price hike could be an attempt to maintain profit margins in a high-cost environment.

For Canadian consumers, the price increases may dampen enthusiasm for Tesla vehicles, particularly as government incentives for electric vehicles aim to make them more affordable.

This scenario could create an opening for competitors like Ford, General Motors, and Hyundai, which are expanding their electric vehicle offerings in Canada.

Tesla’s move comes as the company seeks to reinforce its market leadership in the EV sector while navigating volatile economic conditions.

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