Stock Markets
US stocks fall as Treasury yields on data flagging fresh inflation concerns
Investing.com–US stocks edged higher Tuesday, consolidating a rally in technology shares, ahead of the release of key economic data.
At 09:30 ET (14:30 GMT), the rose 100 points, or 0.2%, the index rose 23 points, or 0.4%, and the rose 65 points, or 0.3%.
Wall Street indexes were buoyed by a broader rally in tech stocks on Monday, which helped them recoup some of their losses from late-December and early-January.
Nvidia in focus
Nvidia (NASDAQ:) stock gained over 2% Tuesday, following an over 3% rally during the prior session, when the stock briefly hit a record high.
At CES 2025, a major annual tech conference in Las Vegas, CEO Jensen Huang laid out how the world’s second-most valuable firm is bringing technology that powers its lucrative data center AI chips to consumer PCs and laptops.
Nvidia gained around $2 trillion in market capitalization through 2024, as the company further cemented its position as the premiere maker of advanced AI chips.
The company also acts as a bellwether for the broader tech sector, given its prevalence in the fast-growing AI industry.
Elsewhere, Meta Platforms (NASDAQ: stock fell 0.3% after the Facebook-parent said it would end its current third-party fact-checking program in the United States and instead begin moving to a ‘Community Notes’ program similar to that on social media platform X.
Microsoft (NASDAQ:) stock rose 0.4% after the software giant announced plans to spend $3 billion to expand its Azure cloud and artificial intelligence capacity in India.
Trump comments temper optimism
Beyond tech, gains in stock markets were somewhat tempered by U.S. President-elect Donald Trump denying media reports that his administration will pursue a less aggressive tariff regime than previously feared.
Trump denied a Washington Post report that his administration will only target certain sectors in imposing trade tariffs, instead of the broad tariffs promised by Trump during his campaigning.
Uncertainty over Trump’s policies had also weighed on Wall Street in the beginning of the year, given that he is widely expected to enact expansionary and protectionist policies that could underpin inflation and disrupt global trade.
Labor market data in focus
The major economic data release due later in the session is the for November, as the focus turns to the labor market and what it is saying about the strength of the US economy.
The is slated for Wednesday, ahead of Friday’s widely-watched December’s report.
The holds its next policy-setting meeting at the end of this month, and signaled a more cautious stance regarding cutting interest rates at its December meeting.
Crude bounces
Oil prices edged higher Tuesday, bouncing after the previous session’s losses on optimism of more policy support to revive economic growth in China, the world’s largest crude importer.
By 09:30 ET, the US crude futures (WTI) climbed 0.6% to $74.01 a barrel, while the Brent contract rose 0.7% to $76.86 a barrel.
Both benchmarks slid on Monday, after rising for five days in a row last week to settle at their highest levels since October on Friday.
(Ambar Warrick contributed to this article.)
Constellation Energy (NASDAQ:) Corp. is on the verge of acquiring Calpine Corp., a move that could mark one of the most significant transactions in the power generation industry, Bloomberg reported on Wednesday.
Baltimore-based Constellation is negotiating with Calpine’s private equity owners to finalize the terms of a deal that could place the value of Calpine at approximately $30 billion, including the assumption of debt, the report said, citing people familiar with the matter.
The potential acquisition, which could be announced within the next few weeks, is still subject to ongoing deliberations, report added.
Constellation’s interest in Calpine underscores the strategic moves within the power sector as companies seek to consolidate and expand their market presence.
While the exact terms of the deal are still being discussed, the acquisition’s completion would likely have considerable implications for both Constellation and the wider power generation sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By John Irish and Alexander Ratz
PARIS/BERLIN (Reuters) -European Union sanctions in Syria that obstruct the delivery of humanitarian aid and hinder the country’s recovery could be lifted swiftly, France’s foreign minister said Wednesday.
The United States on Monday issued a sanctions exemption for transactions with governing institutions in Syria for six months after the end of Bashar al-Assad’s rule to try to ease the flow of humanitarian assistance.
Speaking to France Inter radio, Foreign Minister Jean-Noel Barrot said the EU could take a similar decision soon without giving precise timing, while adding that lifting more political sanctions would depend on how Syria’s new leadership handled the transition.
“There are other (sanctions), which today hinder access to humanitarian aid, which hinder the recovery of the country. These could be lifted quickly,” said Barrot, who met Syria’s de facto leader Ahmed al-Sharaa on Friday with Germany’s foreign minister.
“Finally, there are other sanctions, which we are discussing with our European partners, which could be lifted, but obviously depending on the pace at which our expectations for Syria regarding women and security are taken into account.”
Three European diplomats speaking on condition of anonymity said the EU would seek to agree to lift some sanctions by the time the bloc’s 27 foreign ministers meet in Brussels on Jan. 27.
Two of the diplomats said one aim was to facilitate financial transactions to allow funds to return to the country, ease air transport and lessen sanctions targeting the energy sector to improve power supplies. A third said Germany had put forward a position paper on the potential sanctions to be lifted.
“Due to the new situation, existing sanctions are under scrutiny. Germany has already pitched ideas on this issue,” German foreign ministry spokesperson Christian Wagner said on Wednesday.
“The focus lies on economic questions and return of funds of the Syrian diaspora,” he said.
Syria suffers from severe power shortages, with state-supplied electricity available two or three hours per day in most areas. The caretaker government says it aims to provide electricity for up to eight hours per day within two months.
The U.S. waivers allow some energy transactions and personal remittances to Syria until July 7, but do not remove any sanctions.
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday that Nippon Steel’s blocked acquisition of U.S. Steel received a “thorough analysis” by an interagency national security review body that was sent to President Joe Biden.
Yellen, in a live interview on CNBC, said she could not discuss specifics of the review of the merger blocked by Biden last week that is now the subject of a lawsuit that alleges that the review by the Committee on Foreign Investment in the United States (CFIUS) was not conducted in good faith and was prejudiced by Biden.
“I think, as you know, there is ongoing litigation over this case, and as head of CFIUS, I regret there is very little substantive that I can say to you about this,” Yellen said. “Other than that, CFIUS did analyze the specifics, as it always does of this situation, and prepared a thorough analysis to go to the president.”
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