Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
US Dollar Hits One-Year High as Hawkish Fed Outlook Overshadows Middle East Developments 
Dollar Holds Firm as U.S.-Iran Talks Ease Tensions, GBP/USD Slips Amid UK Political Uncertainty 
Russia Stocks End Flat as MOEX Index Hits New 52-Week Low; Gold Falls and Oil Mixed 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Gold Prices Mixed as Stronger Dollar Offsets Safe-Haven Demand Amid U.S.-Iran Peace Talks 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
US Stock Futures Slip After Wall Street Rally Fueled by US-Iran Deal and Chipmaker Surge 
Asian Stocks Slip as Oil Rebounds Amid Fed Rate Hike Fears 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
Oil Prices Fall as Iran Peace Talks Progress, Hormuz Reopens, and U.S. SPR Hits 1983 Low 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
The S&P 500 closed lower Friday in a sharp reversal after the White House confirmed that tariffs on Mexico, Canada, and China would take effect Saturday. The Dow Jones fell 337 points (-0.8%), the S&P 500 dropped 0.5%, and the Nasdaq slid 0.3%, despite trading over 1% higher earlier in the day.
White House Press Secretary Karoline Leavitt confirmed the U.S. will impose 25% tariffs on Mexican and Canadian goods and 10% on Chinese imports. Investors had hoped for a last-minute reversal of the decision, which caused uncertainty in the markets. Macquarie analysts had previously speculated that tariffs on Mexico and Canada wouldn’t take effect on February 1.
Meanwhile, inflation surged in December, with the PCE price index, the Federal Reserve’s preferred measure, rising 0.3% month-over-month and 2.6% annually. Core PCE, excluding food and energy, increased 2.8% year-over-year. Personal spending also climbed 0.7%, surpassing forecasts of 0.5%, driven by a strong labor market and wage growth. The Fed, which left interest rates unchanged this week, continues to monitor inflationary trends.
In corporate news, Apple (NASDAQ: AAPL) closed lower despite forecasting sales growth in the low- to mid-single digits for Q2. Exxon Mobil (NYSE: XOM) dipped 2.5% despite exceeding Q4 profit estimates. Colgate-Palmolive (NYSE: CL) lost 4.6% after missing revenue expectations. AbbVie (NYSE: ABBV) jumped 5% on strong immunology drug sales, while Deckers Outdoor (NYSE: DECK) plummeted 20% following weak revenue guidance.
Market uncertainty persists as traders react to tariff concerns, inflation data, and earnings reports.
