The Day Ahead

COMING UP IN U.S.

• Department of Labor to release weekly jobless claims data.
  • Initial claims likely rose to 215,000.
  • Continued jobless claims likely dropped to 1.858 million.
• Federal Reserve Vice Chair Michelle Bowman to testify on an update from prudential regulators.
• Dell expected to report fourth-quarter revenue, driven by AI-powered servers. Investors to watch commentary on memory chip crisis and PC shipments.

U.S. TOP NEWS

• Eleven US states urge DOJ to thoroughly probe Netflix-Warner Bros. deal, citing threats to US dominance in movies.
• Woman suing Meta, YouTube over social media addiction to testify about mental health impact.
• Lowe's forecasts cautious full-year sales and profit, below estimates, due to stagnant housing market and guarded consumer spending.
• White House to host Big Tech (Microsoft, Anthropic, Meta Platforms) to formalize a deal to shield consumers from rising power costs.
• Google to test changes to search results, giving rivals more prominence, to avoid an EU fine.

MARKET RECAP AT 4 pm ET

• Wall Street ended higher, helped by a rally in technology stocks ahead of Nvidia's quarterly results.
• Treasury yields were higher.
• Gold gained on safe-haven demand, while the dollar weakened.
• Oil prices were mixed.

WEALTH NEWS

• U.S. tariff rate for some countries will rise to 15% or higher, says U.S. Trade Representative Jamieson Greer.
• Kevin Warsh's potential role at the Fed could lead to trimming its most powerful tools and remolding its balance sheet.
• Options traders are unusually subdued about Nvidia's post-earnings stock movement.
• The technology stock trade has stumbled in 2026, stemming from AI disruption fears and the allure of lagging groups, potentially hindering broader market gains.