Tonight's Highlights | U.S. December PPI Beats Expectations Across the Board — Three Major Futures Slide

On Friday, the three major U.S. stock index futures all declined, while major European indices rose across the board.

 

President Trump announced on social media Wednesday that he will nominate former Fed Governor Kevin Warsh to replace Jerome Powell as Fed Chair.

 

Given Warsh’s prior role as Fed Governor and hawkish leanings, his selection could ease market concerns over Fed independence.

 

While Warsh may support rate cuts in the near term as Trump desires, financial markets believe he will prioritize monetary policy credibility over full deference to the President.

 

Freedom Capital Markets Chief Market Strategist Jay Woods said: “The market shouldn’t overreact to this news. While he has criticized Powell for cutting rates too late, he understands the importance of Fed independence.”

 

Gold futures fell more than 4%, silver futures plunged 12%. Despite the correction, gold and silver are still up 80% and 209% respectively over the past year.

Company News

Musk Reportedly Planning Space Compute Push  

 

Multiple media outlets reported on January 29 that Elon Musk is considering consolidating assets to advance space-based computing. Sources told Bloomberg that Musk is weighing a potential merger between SpaceX and xAI, or between SpaceX and Tesla.

 

The plans are not finalized, and the companies could remain independent. Reuters first reported a possible SpaceX-xAI merger, potentially via a stock swap.

 

Apple Reportedly Prioritizing Premium iPhone Models in 2026  

 

Apple is reportedly prioritizing production of three premium iPhone models for 2026 while delaying standard models. Focus in H2 2026 will be on a foldable iPhone and two non-foldable high-end devices (with advanced cameras and larger screens).

 

Standard iPhone 18 is now slated for H1 2027. The move aims to optimize resources amid soaring memory chip prices.

 

Samsung SDI U.S. Subsidiary Signs Battery Supply Agreement  

 

On January 30, Samsung SDI disclosed in a regulatory filing that its U.S. subsidiary has signed a battery supply agreement. Customer name and deal value were not disclosed.

 

STMicroelectronics 2025 Revenue $11.8 Billion, Net Profit $166 Million  

 

On January 29, STMicroelectronics reported 2025 Q4 and full-year results. Q4 net revenue $3.33 billion (+0.2% YoY); gross margin 35.2%; operating profit $125 million; net loss $30 million.

 

Full-year revenue $11.8 billion (-11.1% YoY); gross margin 33.9%; operating profit $175 million; net profit $166 million. Q1 2026 guidance: net revenue ~$3.04 billion (±350 bps), gross margin ~33.7% (±200 bps).

 

Bosch 2025 Sales €91 Billion  

 

Bosch Group reported 2025 sales of €91 billion (up slightly from €90.3 billion in 2024; +4.2% after currency adjustment). EBIT margin ~2% (below expectations; 2024 was 3.5%).

 

LG Chem 2025 Sales Down 5.7% YoY  

 

On January 29, LG Chem reported full-year 2025 sales of 45.9322 trillion KRW (-5.7% YoY); operating profit 1.1809 trillion KRW (+35% YoY). Q4 sales 11.1971 trillion KRW; operating loss 413.3 billion KRW. Excluding LG Energy Solution, LG Chem sales ~23.8 trillion KRW. 2026 sales target set at 23 trillion KRW.

 

Mercedes-Benz CEO: Turned Down Headquarters Move to U.S.  

 

Mercedes-Benz Group CEO Ola Källenius said on January 29 local time that about a year ago, before Howard Lutnick became U.S. Commerce Secretary, Lutnick met with him and urged relocating the German automaker’s headquarters to the U.S., citing lower energy costs, simpler regulation, and lighter taxes. Källenius rejected the proposal, warning that Europe must recognize the fierce global competition for investment.