01 Stock Market
As of Jan 23, U.S. stock index futures are mixed to slightly lower, with tech leadership being tested by chip headlines. Dow futures fell 0.21%, S&P 500 futures fell 0.14%, and Nasdaq 100 futures fell 0.21%. The tone reflects digestion of chip guidance alongside resilience in select AI beneficiaries, while focus stays on liquidity and defensive assets ahead of the opening bell.
Notable Stock Movers: chipmakers and metals-linked instruments are actively traded pre-market. INTC down 13.20% at $47.15; AMD up 3.18% at $261.79; NVDA up 1.41% at $187.44; AVGO down 1.87% at $319.41; AAPL down 0.11% at $248.07; MSFT up 0.07% at $451.47. Precious‑metals proxies are firmer: SLV up 2.83% at $89.60; leveraged silver ETF AGQ up 5.63% at $296.85. Specialty names are in focus: rare earth play CRML up 3.74% at $19.15; newly listed crypto custodian BTGO down 0.27% at $18.44.
Bold headlines are steering the tape: Intel’s outlook weighed on semi complex while AI demand supports select peers; AMD and NVIDIA remain bid on high‑bandwidth memory momentum; Critical Metals trades higher after a strategic refining MOU; and BitGo consolidates post‑IPO. Metals ETFs extend gains as gold strength persists, and Oracle (ORCL) is watched amid TikTok’s U.S. JV developments.
02 Other Markets
10-year U.S. Treasury yield fell 0.47%, to 4.23%.
U.S. Dollar Index rose 0.0458% to 98.33.
WTI crude oil futures rose 1.92% to 60.50 USD/barrel; COMEX gold futures rose 0.41% to 4933.60 USD/ounce.
03 Key News
Intel lowered guidance and flagged AI server chip supply constraints, pressuring shares and the broader chip complex. The company signaled demand-supply frictions in data‑center products, which dampened sentiment across semis. Pre‑market, INTC is down 13.20% at $47.15, while investors reassess near‑term margin visibility and capex alignment.
ByteDance finalized a majority American‑owned TikTok U.S. joint venture to secure data and avoid a ban, drawing attention to partnering firms. The new structure brings U.S. and global investors, including Oracle, into an 80.1% combined stake with safeguards for data and algorithm security. Pre‑market, ORCL is down 0.07% at $178.06 as markets evaluate strategic exposure and potential cloud workloads.
BitGo raised $212.8 million in its U.S. IPO and began trading near issue price, spotlighting crypto infrastructure plays. The digital‑asset custodian priced at $18 and saw strong initial interest before settling back. Pre‑market, BTGO is down 0.27% at $18.44 as investors gauge custody growth, stablecoin infrastructure, and fee economics.
Critical Metals signed an MOU with a Saudi firm to develop refining capacity tied to the Tanbreez rare earth project, boosting strategic supply narratives. The framework includes joint ventures and non‑binding offtake term sheets to process and refine rare earths, aiming to build downstream capability. Pre‑market, CRML is up 3.74% at $19.15 as the market prices in potential vertical integration. Other rare earth stocks also jumped with USA Rare Earth up 7%.
U.S. economic data on consumer spending (PCE) matched expectations, reinforcing a steady growth backdrop watched by equity and rates traders. The readings suggest resilient demand and align with views of gradual policy easing later this year. Investors continue to weigh the balance between inflation trends and the trajectory of real rates.
Bank of Japan kept its short‑term interest rate target unchanged at 0.75%, signaling confidence in a moderate recovery while maintaining policy continuity. The stance implies incremental normalization remains data‑dependent, with global spillovers for carry trades and dollar flows. Markets monitor forward guidance for signs of pacing and inflation persistence.
U.S. Bitcoin spot ETFs registered a net outflow, indicating cautious positioning as crypto volatility rose and risk appetite moderated. Aggregate data showed redemptions at several products, with some large vehicles leading the move. The flows echo a period of sharper price swings and portfolio de‑risking in digital assets.
U.S. Ethereum spot ETFs also recorded net outflows, underscoring broad investor caution across major crypto‑linked products. Managers reported withdrawals as investors reassessed exposure amid tighter liquidity and higher realized volatility. Positioning remains sensitive to macro signals and regulatory developments across digital assets.
Ericsson beat earnings expectations and unveiled a share buyback and higher dividend, strengthening its capital‑return profile. The group plans to repurchase shares through 2027 and noted stabilization in North America alongside growth in EMEA. Shares jumped about 8% as investors welcomed improved cash generation and restructuring progress.
Singapore’s key inflation gauge rose, with core inflation at 1.2% year‑over‑year, as authorities signaled normalization in unit labor costs. Policymakers expect price pressures to pick up from low levels, with private consumption steady. The outlook informs currency dynamics and regional demand conditions relevant to U.S. multinationals operating in Asia.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.