01 Stock Market

The S&P 500 ended lower on Wednesday, pulled down by declines in JPMorgan, Blackstone and other financials, while Nvidia and Alphabet lifted the Nasdaq as investors shifted toward AI-related stocks.

The Dow Jones Industrial Average was down 0.94% at 48996.08; the S&P 500 was down 0.34% at 6920.93; and the Nasdaq Composite was up 0.16% at 23584.28. The mixed close reflected cross-currents from CES-related chip headlines, AI-linked momentum, and weakness across storage and precious-metals names. Large-cap tech participation remained uneven, with several mega-cap leaders advancing while select consumer-tech and semis eased.

Unusual-move stocks saw notable dispersion. INTC up 6.47% at $42.63. NVDA up 1.00% at $189.11. GOOG up 2.51% at $322.43; GOOGL up 2.43% at $321.98. MSFT up 1.04% at $483.47. AAPL down 0.77% at $260.33. AMD down 2.02% at $210.02. META down 1.81% at $648.69. TSLA down 0.36% at $431.41. WDC down 8.89% at $199.88. PLTR up 1.10% at $181.68. COIN down 1.85% at $245.93. SPY down 0.32% at $689.58; QQQ up 0.10% at $624.02. SLV down 3.73% at $70.96; AGQ down 7.66% at $188.83. SOXL down 3.18% at $52.29. CRML up 16.43% at $13.75.

Context and takeaways: CES updates helped Intel while memory-linked storage names slipped, and precious metals-backed ETFs weakened. Intel’s strength contrasted with storage-sector pressure, with Western Digital highlighted among decliners. Rare-earth exposure names showed outsized moves, consistent with project-development headlines. Chinese ADRs and AI-adjacent plays were mixed, with TSM down 2.67% at $318.68, while Amazon was modestly positive, AMZN up 0.26% at $241.56. Across leveraged products, semis and precious-metals ETFs magnified sector swings. For investors, dispersion underscores the need to separate AI infrastructure winners from cyclical memory and commodity-linked exposures.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.42%, latest at 4.16.

USD/CNH rose 0.00%, at 7.00; USD/HKD fell 0.0103%, at 7.79.

U.S. Dollar Index rose 0.0132%, at 98.73.

WTI crude futures rose 0.55%, at 56.30 USD/bbl; COMEX gold futures rose 0.21%, at 4472.00 USD/oz.

03 Top News

Lilly Moves Beyond Blockbuster Obesity Drugs with $1.2 Billion Ventyx Buy

Eli Lilly will buy autoimmune drug developer Ventyx Biosciences for $1.2 billion in cash, the companies said on Wednesday, marking the Zepbound maker's latest push to expand beyond its blockbuster diabetes and weight-loss drugs.

Ventyx is developing several treatments, including oral therapies for inflammatory bowel diseases such as Crohn's and ulcerative colitis, besides drugs for immunity-related, cardiometabolic and neurodegenerative disorders.

Intel Jumps on First Shipments of Chips Built on 18A Process; Melius Upgrades Stock to Buy

Intel shares had jumped 6% on Wednesday, following the revelation yesterday that the chipmaker had successfully shipped its first products using the 18A manufacturing process, specifically the Panther Lake chips branded as Intel Core Ultra Series 3.

Intel's first Panther Lake line, Core Ultra Series 3, will power more than 200 PC designs. Pre-orders began on January 6, and a global rollout will begin on January 27. Additional designs are slated for release throughout the first half of 2026. Edge systems powered by Intel Core Ultra Series 3 will be available starting during the first quarter of 2026.

Trump Blocks Defense Company Payouts Until Arms Production Speeds up

U.S. President Donald Trump vowed to block defense contractors from paying dividends or buying back shares until they speed up weapons production, a ​rare presidential strike at Wall Street norms that sent defense stocks tumbling and ‌signaled sweeping changes for America’s military-industrial complex.

Trump and the Pentagon have criticized the defense industry for what they say ‌are high costs and slow production and have promised dramatic changes to make production of war equipment more nimble.

Sources: Reuters, Dow Jones, Tiger Newspress, public market data

Disclaimer: This content is for reference only and does not constitute investment advice.