On Tuesday, U.S. stock indices closed mixed, with the Dow Jones Industrial Average reaching a new intraday record high of 50,512.79 points. The latest retail sales report indicated that consumer spending remained flat in December, falling short of the 0.4% monthly increase economists had expected. November's retail sales had grown by 0.6%. Investors are awaiting the release of the January non-farm payrolls report scheduled for Wednesday.

At market close, the Dow gained 52.27 points, or 0.10%, to finish at 50,188.14. The Nasdaq Composite fell 136.20 points, or 0.59%, closing at 23,102.47. The S&P 500 declined by 23.01 points, or 0.33%, ending at 6,941.81. Among individual stocks, Nvidia dipped nearly 1%, S&P Global dropped close to 10%, Intel fell 6%, and Western Digital slid over 8%. The Nasdaq Golden Dragon China Index rose 0.87%, with Alibaba gaining 2% and Dingdong Maicai climbing 7%.

In European markets, Germany's DAX 30 index edged down 1.37 points, or 0.01%, to 25,003.37. The UK's FTSE 100 decreased by 32.01 points, or 0.31%, closing at 10,354.22. France's CAC 40 added 4.60 points, or 0.06%, settling at 8,327.88. The Euro Stoxx 50 fell 10.85 points, or 0.18%, to 6,048.16. Spain's IBEX 35 dropped 70.89 points, or 0.39%, finishing at 18,124.21, while Italy's FTSE MIB declined 26.31 points, or 0.06%, to 46,796.50.

In the cryptocurrency market, Bitcoin retreated below the $70,000 mark, falling over 2% on the day to $68,698. Ethereum declined by 4.5%, trading at $2,010.

The U.S. dollar index, which measures the greenback against a basket of six major currencies, slipped 0.02% to settle at 96.799. By the close of New York forex trading, one euro traded at $1.1894, down from $1.1921 the previous session. One pound sterling was worth $1.3666, compared to $1.3699 previously. The dollar bought 154.49 Japanese yen, down from 155.68, and 0.7682 Swiss francs, up from 0.7660. It exchanged for 1.3551 Canadian dollars, slightly lower than 1.3557, and 8.9021 Swedish krona, down from 8.9094.

Spot gold fell 0.74% to $5,022.97 per ounce, while spot silver was at $80.818 per ounce. Wells Fargo commented that the recent pullback in gold prices represents a healthy correction following a significant rally. Spot gold has declined more than 10% from its record high set in late January, primarily due to profit-taking after prices surged over 30% above the 200-day moving average. The bank raised its 2026 gold price target to a range of $6,100 to $6,300 per ounce, implying over 20% upside, citing geopolitical risks, market volatility, and strong central bank demand.

In the oil market, March WTI crude futures in New York fell 0.6% to settle at $63.96 per barrel. April Brent crude declined 0.4%, closing at $68.80 per barrel.

U.S. retail sales unexpectedly stalled in December, indicating more cautious consumer spending at the end of the holiday season. Data from the Commerce Department showed that seasonally adjusted retail sales were essentially flat in December after a 0.6% increase in November. Sales excluding auto dealers and gas stations also showed no growth. Eight of the thirteen retail categories reported declines, including clothing and furniture stores. Auto dealer sales also decreased. Meanwhile, spending increased at building material stores and sporting goods retailers. The data suggests weakening consumer momentum as the holiday shopping period concluded. Although many economists expect tax refunds to support demand early this year, households remain concerned about high living costs and persistent worries about the job market. The breadth of consumer spending is also a concern. While wealth generated by stock market gains may stimulate demand, there are indications that discretionary spending among lower-income Americans, who rely more on modest wage growth, is less robust.

The U.S. loan delinquency rate surged to its highest level in nearly a decade during the fourth quarter. Delinquency rates across various loan types, from mortgages to credit cards, rose to 4.8% of total outstanding household debt, the highest since 2017, driven mainly by increased defaults among lower-income groups and younger borrowers. Data from the New York Fed showed that while the overall proportion of loans in default is near pre-pandemic averages, the rising delinquency rate among the lowest-income groups further indicates a diverging U.S. economy. The increase was primarily driven by mortgage delinquencies, especially prominent in lower-income zip codes. Student loan delinquencies also contributed significantly to the overall rise, rebounding sharply after pandemic-era repayment pauses ended. The proportion of credit card loans at least 90 days overdue rose to 12.7%, the highest since Q1 2011. Seriously delinquent auto loans increased to 5.2%, nearing the record set in 2010. Approximately 16.3% of student loans transitioned into delinquency in Q4, the largest increase since records began in 2004.

Federal Reserve official Lorie Logan expressed "cautious optimism" that the current policy rate level could guide inflation back to the 2% target while maintaining labor market stability. She stated that economic data in the coming months would test this assessment. Logan noted, "If this proves true, it would suggest our current policy stance is appropriate and no further rate cuts are needed to achieve our dual mandate goals." However, she added that if inflation falls alongside a significant cooling in the labor market, "further rate cuts might become appropriate. But for now, I am more concerned about inflation remaining stubbornly high." She indicated that downside risks to the labor market "appear to have eased significantly" after three rate cuts last year, but this also introduces additional inflation risks. With short-term borrowing costs widely estimated to be in a "neutral" range, the current rate level provides limited restraint on the strongly rebounding economy and inflation that has persisted above the Fed's target for nearly five years. Logan expects inflation to make progress this year, with some preliminary signs of improvement already visible.

Cleveland Fed President Andrea Hammack stated that, with a "cautiously optimistic" view on economic activity, there is no urgent need for the Fed to adjust its interest rate policy stance this year. Given the potential outlook, "we might keep the target range for the federal funds rate unchanged for quite some time." She remarked, "I believe we are in a good position to maintain the federal funds rate at its current level and observe how the situation develops," suggesting that monetary policy is likely接近 to a stance that neither restrains nor stimulates economic activity. "Rather than attempting fine-tuning of rates, I prefer patience in assessing the impact of recent rate cuts and observing economic performance." Hammack pointed to a positive economic outlook but emphasized that inflation remains "too high," stressing the importance of declining price pressures given the risk that inflation could hover around 3% this year. Regarding hiring, available information indicates relatively stable current conditions.

CME Group announced plans to launch single-stock futures products this summer, pending completion of all regulatory reviews and processes. The new product series will allow market participants to trade futures contracts on over 50 leading U.S. stocks from the S&P 500, Nasdaq 100, and Russell 1000 indices, including Alphabet, Meta, Nvidia, and Tesla. All contracts will be cash-settled. Tim McCourt, Global Head of Equity, FX, and Alternative Products at CME Group, stated, "These contracts will provide investors with a simpler, more cost-effective way to express views on individual stocks, while also allowing market participants to gain exposure or hedge against potential price volatility without directly purchasing the shares." The contracts will be listed on and subject to the rules of the CME.

Average daily trading volume in U.S. stocks exceeded $1 trillion in January, setting a new record for capital flows. The surge marks a significant jump compared to the same period last year. Compiled data shows that average daily trading volume reached a record $1.03 trillion in January, an increase of approximately 50% compared to January 2025. The average daily number of shares traded was about 19 billion, the second-highest in history. As U.S. stocks hover near record highs, trading activity has risen among both retail investors and institutional capital. However, amid concerns over high valuations, continued capital inflows also present higher risks for participants. Analyst Jackson Gutenplan noted increased trading from retail investors, market makers, quantitative trading firms, and hedge funds, with the prevalence of automated trading being unprecedented. Data indicates that the average daily number of shares traded has exceeded 15 billion for 13 consecutive months, whereas before 2025, this level was only reached three times.

Boeing is pushing to increase production capacity for its 737 aircraft. A company executive stated at a conference north of Seattle that Boeing plans to raise the monthly production rate of its core 737 series to 63 aircraft within the coming years. Katie Ringgold, head of the 737 program, said at the Pacific Northwest Aerospace Alliance conference that the company has installed tooling supporting a new 737 final assembly line in a traditional wide-body factory and is hiring mechanics and engineers to begin production by mid-year. She indicated that output for the narrow-body aircraft should increase by about 15% over the next 18 months. Maintaining a steady recovery in 737 production is crucial for Boeing to improve its financial health and repay debt, as the model is a key revenue source.

Stellantis is seeking to exit its U.S. battery joint venture with South Korea's Samsung SDI. This move follows the company's announcement last week of over €22 billion (approximately $26 billion) in asset impairments as it scales back its electric vehicle ambitions to preserve cash. Exiting the joint venture could be costly and protracted. Stellantis might also sell its stake to a third party. With pressure mounting on EV and battery projects following policy moves by the Trump administration that undermine plug-in vehicles, CEO Antonio Filosa is working to contain related losses. Stellantis and Samsung established the Indiana joint venture in 2021, committing to a $2.5 billion investment and creating 1,400 new jobs in Kokomo. The plant, Samsung's sole U.S. battery factory, began operations in 2024 and has started producing some battery cells for energy storage.

Regarding analyst ratings, Morgan Stanley maintained a Neutral rating on Tesla with a $415 price target. Deutsche Bank raised its price target on Micron Technology from $300 to $500.