USITC to Review Impact of Revoking China’s PNTR Status, Potentially Raising Tariffs on Chinese Imports 
Stock Market Movers: Dell, Block, Duolingo, Zscaler, CoreWeave, Autodesk, Rocket, MARA 
PBOC Scraps FX Risk Reserves to Curb Rapid Yuan Appreciation 
Oil Prices Steady as US-Iran Nuclear Talks and Rising Crude Inventories Shape Market Outlook 
U.S.-Canada Trade Talks Resume as Trump Administration Reviews USMCA 
Dominican Republic Unveils Massive Rare Earth Deposits to Boost High-Tech and Energy Sectors 
Tokyo Core Inflation Slows Below 2%, Complicating BOJ Rate Hike Outlook 
Gold Prices Steady in Asia, Set for Strong February Gains on Safe-Haven Demand 
IMF Urges U.S. to Cut Fiscal Deficit to Reduce Trade and Current Account Gaps 
Asian Markets Rally as AI Stocks Surge; Yen and BOJ Rate Outlook in Focus 
BOJ Signals Possible April Rate Hike as Ueda Eyes Inflation and Wage Growth Data 
U.S. Stocks Rally as Nvidia Earnings Loom, Oil Prices Near Seven-Month Highs 
Australian Dollar Rallies on Hawkish RBA Outlook; Yen Slips as BOJ Faces Political Pressure 
Gold Prices Rally in February as Geopolitical Risks and Economic Uncertainty Boost Safe-Haven Demand 
Bank of Korea Holds Interest Rate at 2.50% as Growth Outlook Improves Amid AI Chip Boom 
U.S. stocks ended lower on Friday, capping the worst monthly performance for Wall Street since March last year, as hotter-than-expected producer inflation data and continued weakness in technology stocks pressured investor sentiment. The S&P 500 fell 0.5% to 6,877.36, while the Nasdaq Composite dropped 0.9% to 22,668.21. The Dow Jones Industrial Average declined 1.1% to 48,977.18.
Technology shares led the downturn, with Nvidia stock sliding more than 5% despite reporting strong quarterly earnings. Investors appeared concerned about shareholder returns following a sharp rise in the company’s cash reserves, while profit-taking after a recent rally also weighed on the stock. For February, the S&P 500 lost 0.9% and the Nasdaq tumbled 3.4%, reflecting volatility driven by geopolitical tensions, trade uncertainty, and shifting views on artificial intelligence investment trends. Analysts noted growing concerns over AI-related capital expenditures and potential disruption risks in software and services.
Economic data added to market pressure. January’s Producer Price Index (PPI) rose 0.5% month-over-month and 2.9% year-over-year, exceeding expectations. Core PPI, which excludes food and energy, increased 0.8% monthly and 3.6% annually. The stronger inflation reading may delay Federal Reserve interest rate cuts, reinforcing concerns about sticky inflation. JPMorgan raised its January core PCE inflation estimate to 0.42%, suggesting the Fed could remain cautious in the coming months.
In corporate news, Netflix stock surged 14% after declining to raise its bid for Warner Bros. Discovery, while Paramount jumped nearly 21% following its improved $31-per-share offer. Dell Technologies soared 22% on record results fueled by AI server demand, and Block rallied 17% after announcing major job cuts to integrate artificial intelligence.
Meanwhile, OpenAI announced a record $110 billion funding round backed by Microsoft, SoftBank, Nvidia, and Amazon, underscoring surging AI demand. Oil prices also climbed, with Brent crude settling at $73.10 per barrel and WTI crude at $66.17, despite ongoing U.S.-Iran nuclear talks.
