Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
UK Employers Plan Moderate Pay Rises as Inflation Pressures Ease but Persist 
JPMorgan Lifts Gold Price Forecast to $6,300 by End-2026 on Strong Central Bank and Investor Demand 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
Oil Prices Slide Nearly 3% as U.S.-Iran Talks Ease Geopolitical Tensions 
India Budget 2026: Modi Government Eyes Reforms Amid Global Uncertainty and Fiscal Pressures 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
BOJ Policymakers Warn Weak Yen Could Fuel Inflation Risks and Delay Rate Action 
Gold and Asian Stocks Rebound as Market Volatility Eases and Global Sentiment Improves 
China Manufacturing PMI Slips Into Contraction in January as Weak Demand Pressures Economy 
Japan Election Poll Signals Landslide Win for Sanae Takaichi, Raising Fiscal Policy Concerns 
South Korea Inflation Hits Five-Month Low as CPI Reaches Central Bank Target 
U.S. Stock Futures Slip as Markets Brace for Big Tech Earnings and Key Data 
China Home Prices Rise in January as Government Signals Stronger Support for Property Market 
U.S. Stock Futures Rise as Investors Eye Big Tech Earnings and AI Momentum 
Philippines Manufacturing PMI Hits Nine-Month High Despite Weak Confidence Outlook 
The S&P 500 and Nasdaq closed at record highs Wednesday, driven by strong gains in Nvidia (NASDAQ: NVDA) and GE Vernova amid signs of a potential U.S.-EU trade agreement. The deal, expected to mirror President Trump’s prior accord with Japan, could introduce a broad 15% tariff on EU imports, including cars, according to diplomats.
The S&P 500 rose 0.78% to 6,358.91, while the Nasdaq added 0.61% to 21,020.02. The Dow Jones Industrial Average climbed 1.14% to 45,010.29, just shy of a record close. Year-to-date, the S&P 500 has advanced about 8% and the Nasdaq nearly 9%, buoyed by optimism over trade and robust corporate earnings.
GE Vernova surged 14.6% after boosting revenue and free cash flow forecasts, benefiting from soaring AI and cryptocurrency data center energy demand. Nvidia gained 2.25%, continuing its leadership in the AI chip market. Thermo Fisher (NYSE: TMO) also jumped 9% on strong earnings, while Texas Instruments (NASDAQ: TXN) plunged 13% after weak guidance signaled soft demand for analog chips, dragging peers like NXP Semiconductors (NASDAQ: NXPI) and Analog Devices (NASDAQ: ADI) lower.
Market volatility eased, with the CBOE Volatility Index hitting a five-month low. Investors now await U.S. jobless claims and PMI data for further economic signals. Fed rate cuts are viewed as unlikely next week, with September odds around 58%, per CME FedWatch.
Trading volume was heavy at 19.1 billion shares, above the 20-day average. Advancing stocks outnumbered decliners in the S&P 500 by more than 2-to-1, with 50 new highs recorded.
