OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Proxy Advisors Urge Vote Against ANZ’s Executive Pay Report Amid Scandal Fallout 
Boeing Executive Says Trump’s Equity Stake Plan Won’t Target Major Defense Contractors 
Firelight Launches as First XRP Staking Platform on Flare, Introduces DeFi Cover Feature 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
IKEA Launches First New Zealand Store, Marking Expansion Into Its 64th Global Market 
Visa to Move European Headquarters to London’s Canary Wharf 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Australia Moves Forward With Teen Social Media Ban as Platforms Begin Lockouts 
SpaceX CEO Elon Musk Denies Reports of $800 Billion Valuation Fundraise 
Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Netflix Nearing Major Deal to Acquire Warner Bros Discovery Assets 
Vietnam’s November Trade Sees Monthly Decline but Strong Year-on-Year Growth 
Waymo Issues Recall After Reports of Self-Driving Cars Illegally Passing School Buses in Texas 
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.
