Global markets closed higher on Monday, with investor focus centered on upcoming tech earnings and employment data. Leading the session's turnover were the top 20 most actively traded US stocks, amid reports that Nvidia's investment plans for OpenAI have stalled. Popular US-listed Chinese stocks displayed a mixed performance, with Taiwan Semiconductor Manufacturing Co. advancing 3.22%, while XPeng saw a significant decline of 8.29%. Oil prices experienced a sharp downturn Monday, driven by easing supply concerns as geopolitical tensions between the US and Iran showed signs of de-escalation. Spot gold fell 4.54%, settling at $4,671.58 per ounce. European equities resumed their record-breaking ascent as mining stocks staged a notable rebound.
The United States has agreed to reduce tariffs on India to 18%, with India consenting to halt its purchases of Russian oil. The release of the US January jobs report will be delayed due to a partial government shutdown. The US Secretary of Defense stated that the administration does not seek military confrontation with Iran. The US Treasury Department has revised its quarterly borrowing estimate downward to $574 billion. Former President Trump has called on Republicans to seize control of election procedures from individual states. The US Department of Justice removed certain documents related to the Epstein case, citing the inadvertent inclusion of victim information. France's Minister of the Armed Forces, Sébastien Lecornu, again survived a no-confidence motion, while the National Assembly passed the 2026 budget.
SpaceX, under Elon Musk's leadership, announced its acquisition of the artificial intelligence firm xAI. Boosted by US government contracts, Palantir Technologies Inc.'s CEO defended the company's surveillance technology. Oracle Corporation issued $25 billion in investment-grade bonds to fund infrastructure related to artificial intelligence. Vanguard initiated a new round of fee reductions across several of its funds, intensifying the price war within the industry. Porsche is considering canceling its electric sports car project as a measure to control its budget. Oracle is planning to raise up to $50 billion specifically for AI infrastructure development.
Emerging market ETFs recorded their 15th consecutive week of capital inflows. Volatility in the cryptocurrency market triggered $2.5 billion in Bitcoin liquidations. Bitcoin fell below a critical psychological support level, pushing a high-stakes speculative bet into a precarious position. Federal Reserve official Bostic indicated that a potential successor would face a "difficult task." CIBC Capital Markets suggested the Fed's balance sheet could become a focal point in the fourth quarter. The Chairman of the Swiss National Bank affirmed that US Treasury bonds remain the largest and most liquid investment asset. European bond markets saw German bonds edge lower, tracking the decline in US Treasuries. In the US bond market, better-than-expected manufacturing data contributed to a sell-off in Treasuries. Fed official Bostic projected that no interest rate cuts should be expected in 2026. The UK's former ambassador to the US, Peter Mandelson, is under scrutiny for allegedly leaking government information to Jeffrey Epstein.
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