Latest News
-
S&P 500 closes at record high, driven by Broadcom and other chipmakers
The S&P 500 ?rallied to a record high close on Friday, lifted by Broadcom and other chipmakers, while a ?weaker-than-expected jobs report did little to alter expectations of interest rate cuts from ?the ?Federal Reserve this year. Wall Street's main three indexes gained in the first week of 2026 trading. This was fueled by gains in industrials, materials and other sectors, which have lagged behind technology stocks in recent times. The Labor Department reported that the U.S. labor market did not rapidly degrade in December. However, the decline in unemployment to 4.4% was more than expected. The PHLX semiconductors index reached a new record high. Mizuho increased its price target for the tool maker of chip manufacturing to $220, up from $200. Broadcom, Alphabet and Tesla boosted the S&P 500 and Nasdaq. Vistra's shares soared after Meta Platforms announced that it would buy electricity from its nuclear plants. Zachary Hill is the head of portfolio management for Horizon Investments, located in Charlotte, North Carolina. "We see that as an improvement." It means we are getting closer to the monetization stage, when people will be able to see and feel the revenue enhancements coming from this revolutionary technology. Intel's stock rose after Trump claimed to have had a "great" meeting with Lip-Bu Tan, the chief executive officer of the chipmaker. Preliminary data shows that the S&P 500 rose 44.32 points or 0.64% to 6,965.78, and the Nasdaq Composite rose 189.73 or 0.81% to 23,669.75. The Dow Jones Industrial Average increased by 234.09 points (or 0.48%) to 49,500.20. Wall Street valuations were high in advance of the fourth-quarter earnings season. According to LSEG, the S&P 500 trades at 22 times expected earnings - down from 23 in Novembre, but still above its five-year median of 19. The S&P 500 Value Index has gained about 3% in 2026 compared to a 1% increase in the S&P 500 Growth index. The U.S. Supreme Court announced that it would not rule on Friday regarding the legality and sweeping tariffs imposed by President Donald Trump. Investors, who had been waiting for a ruling, were left in limbo. If the court rules against the tariffs, traders expect a rise in volatility on the financial markets. Mortgage lenders increased their prices a day after Trump announced that he would order his representatives to purchase $200 billion worth of mortgage bonds in an effort to lower housing costs. LoanDepot, Rocket Companies, and Opendoor Technologies have rallied. General Motors' shares dropped after the automaker announced on Thursday that it would deduct $6 billion to pay for some investments in electric vehicles.
-
OpenAI and SoftBank invest $1 Billion in SB Energy to expand Stargate
OpenAI and SoftBank Group are investing $1 billion in SB Energy. SB Energy is a SoftBank owned provider of data-centers and power infrastructure. SB Energy announced that OpenAI and SoftBank each invested $500 million into SB Energy. SB Energy will build and run a 1.2-gigawatt OpenAI data center in Milam County, Texas. SB Energy said it will also be a customer of OpenAI. It will use its application programming APIs and deploy ChatGPT for employees. Stargate is a massive?computing effort and infrastructure? that sits at the heart of the U.S. drive to increase domestic AI capability. When the companies announced their plan in January 2025, President Donald Trump supported the initiative. Oracle and Abu Dhabi-based tech investors MGX are also major investors in the project. OpenAI, Oracle, and SoftBank announced in September 2025 that they were planning five new U.S. computer sites spread across Texas, New Mexico, and Ohio. They said that once the sites are operational, they will add up to approximately seven gigawatts of power capacity. SB Energy is developing several data center campuses. The first facilities are expected to be operational in 2019.
-
Venezuela seeks to restore diplomatic relations with the US
Venezuelan officials have 'begun to explore the potential of expanding diplomatic ties with the United States,' with the?U.S. State Department officials are traveling to Caracas, the State Department said in a Friday statement. Separately, the State Department said that?U.S. Officials were evaluating a "potential resumption of operations" in the South American nation. Washington and Caracas have signaled their desire for cooperation following last week's dramatic U.S. military operation which resulted in the capture of President Nicolas Maduro. Delcy Rodriguez, his vice president, took over as interim leader. The Venezuelan government announced in a press release that it had decided to begin an exploratory diplomatic procedure with the U.S. Government, "with the aim of reestablishing diplomatic missions in both nations." It?said that a Venezuelan delegation would?also be sent over to the U.S. for assessments. On Friday morning, U.S. President Donald Trump had said that the release of political prisoner in Venezuela was a "sign of seeking peace" and he canceled an attack plan for a second wave.
-
Tusk: Poland is worried about tensions within NATO over Greenland
Poland's Prime Minister is concerned about the strain that the United States' threats to 'take over Greenland' is putting on NATO. He said this on Friday. Warsaw, as a loyal ally, should be honest about its concerns with Washington. Poland sees the United States and NATO in a 'critical role in its security, in light of a 'increasingly assertive Russia. Policymakers in Warsaw are concerned that divisions in the alliance might embolden Moscow. The NATO alliance would be shocked if the U.S. took Greenland away from Denmark, a long-time ally. It would also deepen the divide that exists between Trump and European leaders. Tusk said at a press briefing that he was "very concerned" about the Greenland problem, as well as the events in the United States and all the things that are?building up such ideological and politic tensions within NATO and even the United States themselves. "But we are allies and friends, and Poland is a particularly loyal ally of the United States. I also believe that in such a situation, one should not be on their knees, but rather, express what they think. You should be honest with your friends about what is right and wrong. (Reporting and editing by Alex Richardson, Barbara Erling, Alan Charlish and Pawel Florkiewicz)
-
Stellantis Europe's chief is concerned about a'misalignment of EU regulations'
Stellantis' head of Europe stated on Friday that the size and shape any future investments by the company in Europe will depend on "decisions made on auto industry regulations". He expressed concern over what has been announced thus far. After pressure from the auto industry in the region, the EU Commission proposed last month to lift the ban on combustion engine cars starting 2035. This is the biggest retreat by the bloc from its green policies over the past few years. Stellantis found the new package inadequate and Antonio Filosa, CEO of Stellantis, warned that it would put manufacturers' investments at risk in the region. In his first press conference after taking over the position in October, Stellantis Europe's?head Emanuele Cappellano stated on Friday, at the Brussels auto show: "The decisions made by the European Union?will have an impact on visibility and on the dominant technologies needed." Cappellano expressed concern about "misalignment", between EU regulation, automakers?needs and customers' demand. "We must be honest about this." "What has been announced so far has failed to this extent," said he on Friday. He added that the industry as well as customers are looking for short-term solutions. The problem isn't 10 years away. "The problem is not 10 years from now. It's today, and customers need something different," he said. He said that the EU should protect European auto industry and fill some gaps in comparison to Chinese competitors, such as in batteries and semiconductors. When asked about the future of Stellantis' sprawling 14-brand portfolio, which many believe is too difficult to manage due to overlap between models, Cappellano referred to the new business plan of the group. CEO Filosa will present this in the second quarter. He said: "We will work on a strategy plan, but my top priority is ensuring that the CEOs of (Stellantis') brands have the opportunity to strengthen their brand attributes."
-
Venezuela bondholders group seeks authorisation for debt restructuring discussions
On Friday, a key group of Venezuelan bonds holders said that they were prepared to begin debt restructuring talks with the country as soon as 'authorisation' was granted. Venezuela's defaulted government bonds surged in value this week, after the U.S. seized President Nicolas Maduro over the weekend. This fueled hopes that one of the largest sovereign debt restructurings could get underway. The current U.S. sanctions prevent engagement with Venezuelan officials without a special license or waiver. In a press release, the "Venezuela?Creditor?Committee" said that it was ready to begin a negotiated debt restructuring process when authorized. The group includes GMO, Greylock Capital Fidelity T. Rowe Price Mangart Capital Morgan Stanley Investment Management. Venezuela's government, and the state oil firm PDVSA, have defaulted in bonds worth around $60 billion. However, Total external debt Analysts estimate that the total amount of PDVSA obligations and bilateral loans, as well as arbitration awards, is between $150 billion and $170 billion. This depends on how interest accrued and court judgments are counted. The Creditor Committee said: "The VCC acknowledges that the restoration access to international private capital will be crucial to Venezuela's economic and social recovery, including the oil sector." (Reporting and editing by Karin Strohecker, Rodrigo Campos and Marc Jones)
-
The Portuguese government supports Savannah's lithium mining project with a $128 million grant
Savannah Resources, listed on the London Stock Exchange, announced that it was awarded a 110 million-euro grant ($128 millions) by?the Portuguese Government for its lithium mine in northern Portugal. This is a sign of official support for a hotly contested project. Around 82 million euro of the non-reimbursable grants will fund the initial capital expenses of the project, in Portugal's Barroso Region. The remainder of the grant is linked to performance milestones. The company stated that the estimated reserves of the Barroso deposit spodumene, a lithium-bearing mineral, are more than 39 million metric tonnes, making it Europe's largest deposit. The success of Savannah's project in Portugal will be a test of Europe's capability to reduce its dependency on imports from China and other countries for materials such as lithium, which are essential to the shift to clean energy. Savannah, however, has met with strong opposition by local residents and the environmentalists since Barroso is a World Heritage Site for Agriculture. Chief Executive Emanuel Proenca said that the grant was another "highly significant milestone" for Savannah, and "underscores the Portuguese state’s significant support for the project's completion", mirroring other governments' efforts to support strategic projects in?Europe. The Portuguese government's financial contribution will be a "significant" contribution to the project capex, as the production is aimed at 2028. According to Portugal's Official Gazette, Secretary of State for Economy Joao Fereira approved the grant on 7 January, qualifying it as an incentive "for major investments in carbon neutral and strategic net zero transition sectors."
-
Stocks rise ahead of US jobs report and tariff ruling
Global stocks rose on Friday, ahead of an important U.S. employment report. Investors also awaited the Supreme Court's ruling on whether President Donald Trump’s tariffs were legal. These tariffs shocked markets last year. Geopolitical tensions around the world have pushed up oil prices and defence stocks. They will continue to be on traders' minds when they consider developments in Venezuela and Greenland. The U.S. Supreme Court's possible ruling on tariffs will dominate the conversation on Friday. The reduction of tariffs may impact U.S. revenue, driving Treasury yields up and causing new waves in volatility. Kyle Rodda said that the ruling is a "real wildcard" and any action to lower U.S. Tariffs will also boost the broader market sentiment. Investors believe that stocks will rise if the court reverses existing tariffs. This is especially true for companies who had to absorb large import costs. He added that "a constraint could be the fact that, even if tariffs were ruled illegal, the Trump administration is unlikely to give in and look for other ways to maintain levies." Traders are still hesitant to bet on market events. Around midday, the Stoxx 600 index in Europe was up by 0.6%. The major regional indices are in the positive zone, with the French CAC40 adding 0.9% on the day and the German DAX rising 0.5%. S&P futures EScv1 rose?0.1%. This suggests a modest increase at the opening later. The S&P500.SPX closed flat on Thursday. However, an aerospace and defense index reached a record high. European defence shares also hit a new all-time high. US JOBS REPORT DECK The December U.S. Jobs Report will also be a key focus point, following a series of data releases on the labour market earlier in this week. On the positive side, there's no sign of a recession in this labour market. That's a good thing. There is also no indication of a strong acceleration on the subdued end. Samy Chaar is chief economist at Lombard Odier. He said that this was consistent with an economy growing moderately. There's no sign of overheating or growth above potential. The JOLTS report on hirings and ADP's private sector payrolls released earlier this week showed that employment in the largest economy in the world is slowing down. We want to confirm today the signals we received yesterday from JOLTs, ADP and the claims we got yesterday. "We don't want an upward surprise in the unemployment rate, or job creation," Chaar stated. Right now, the markets expect two rate reductions from the Federal Reserve in this year. This expectation could be reduced if the monthly employment report is strong. A survey by economists estimates that nonfarm payrolls increased by 60,000 jobs last month, after recovering by 64,000 jobs in November. In October, the economy lost 105,000 positions, which is the biggest drop in almost five years. Most of these were federal employees who took deferred-buyouts. The yield on the benchmark 10-year U.S. notes remained at 4,187%, after increasing 4.5 basis points in the previous day. The dollar index (which measures the U.S. against six other currencies) hovered at a month-high. Scott?Bessent, U.S. Treasury secretary said that he expects Trump to make an announcement soon about who will replace Jerome Powell when the Fed chairman's term expires in?May. Markets are expecting Trump to appoint someone dovish. The oil prices rose on Friday to their highest weekly level since late October. Investors were concerned about the situation in Venezuela, and also worried about supply from Russia, Iraq and Iran. In a post on social media on Friday, Trump announced that he had cancelled the previously anticipated second wave of attacks against Venezuela due to its cooperation. Two sources said that foreign embassies are preparing for a visit next week by representatives of American and European oil companies. Brent futures The price of crude oil in the United States rose by 0.9%, to $62.54 per barrel. However, they are still on track for a gain of nearly 3% over the past week. U.S. West Texas Intermediate crude The price of a barrel was also up by 0.9%, at $58,29. Reporting by Sophie Kiderlin, London. Ankur Banerjee contributed additional reporting from Singapore. Editing was done by Amanda Cooper and Susan Fenton.
ASIA GOLD-Higher prices in India are affecting retail demand; China's gold premiums are widening
This week, India's gold prices increased further. In China, dealers raised premiums over international rates to rekindle retail interest after the holidays.
Indian dealers have charged a premium this week
On?the day the domestic gold price was trading at around 138,000 rupees for 10 grams, which is not far off from the record high of 140,465 rupees.
The rising prices are affecting the jewellery market. "Retail buyers are delaying purchases," Ashok Jain, owner of Mumbai-based wholesaler Chenaji Narsinghji said.
A Mumbai-based dealer of bullion with a private banking company said that jewellers reported?very low footfall' and "only marginal demand" for coins and bars.
Bullion traded in top consumer China at a premium of up to $21 per ounce over the global benchmark spot price
Bernard Sin, Regional Director, Greater China at MKS PAMP, said: "Physical Gold demand in Asia is showing renewed strength, especially in China and Hong Kong. This is due to tighter supply and retail interest after the holiday season."
The Chinese central bank’s "accumulation" continues to support the market and reinforce the perception that Chinese demand is both cyclical and structural.
In Singapore
In Hong Kong, gold
The benchmark spot gold price for international markets fell on the day but was headed to a weekly increase of over 3%.
"We estimate jewelry?demand dropped by double-digits in 2025, and we suspect that there?will only be a tepid recover at best in the years 2026 and 2027," HSBC's James Steel stated.
He added that "with prices over $4,000/oz the demand has further eroded."
Even a significant retracement of prices may not be enough to stimulate significantly more demand, as the trend towards lighter items and substitution to platinum jewellery is likely to continue. $1 = 90,1250 Indian Rupees (Reporting from Ishaan Jadhav and Rajendra Jadhav respectively in Bengaluru and Mumbai; Additional reporting provided by Swati verma; Editing done by Sumana Niandy).
(source: Reuters)