UBS Raises TSMC Price Target to T$3,400 on Strong AI Chip Demand Outlook 
Samsung, SK Hynix to Unveil Record AI and Semiconductor Investment Plans Worth Over $646 Billion 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
Firmus Partners With Nvidia to Deliver 170,000 AI GPUs in $30 Billion Cloud Infrastructure Deal 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Johns Hopkins University Lays Off 110 Employees as Federal Research Funding Declines 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Apple Supplier Stocks Slide as Samsung, SK Hynix Lead Selloff After Apple Price Hikes 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices 
SpaceX, Charter Communications Explore Mobile Partnership to Expand Starlink Wireless Service 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
The S&P 500 dipped Thursday as banking sector strength was overshadowed by a tech slump led by Apple. At market close, the Dow fell 0.2%, the S&P 500 dropped 0.2%, and the NASDAQ slid 0.9%.
Apple shares tumbled 4% after Canalys reported a 17% year-over-year drop in iPhone sales in China for 2024. The decline, attributed to competition from local brands like Vivo and Huawei, dampened broader tech sentiment despite falling Treasury yields. The 10-year yield dropped to 4.6%, reflecting easing fears of Federal Reserve rate hikes.
Retail sales data added to the cautious tone. December sales rose 0.4%, falling short of November's upwardly revised 0.8% and missing expectations. Unemployment claims also increased to 217,000, signaling potential economic softness.
Investors remained optimistic about Federal Reserve policies as inflation data hinted at potential rate cuts in early 2025. Core CPI figures eased slightly, complementing lower-than-expected producer price data earlier in the week. Markets now predict two rate cuts this year, half of initial projections.
Bank earnings were a bright spot. Morgan Stanley surged 4% on strong quarterly profits, while JPMorgan Chase reported record annual earnings. Goldman Sachs and Wells Fargo exceeded expectations, though Bank of America dipped 1% despite robust results.
Wall Street remains focused on economic indicators and corporate earnings as uncertainty persists in 2024.
