Public Markets 8-Hour Briefing
×Banking Sector
Standard Chartered reported a quarterly profit decline on weak interest income, though it still exceeded its 2025 return on tangible equity target a year early. Jamie Dimon sees parallels to the pre-crisis era, warning that rivals are doing "dumb things" in fierce competition. United Overseas Bank missed fourth-quarter profit estimates, causing its shares to tumble the most in four months.
Market Performance
US stock futures crept higher after bruising losses on tariff concerns and AI jitters. Asian stocks edged higher, bucking US weakness driven by anxiety over artificial intelligence's impact. Bed Bath & Beyond narrowed its fourth-quarter loss and targeted low- to mid-single-digit revenue growth for 2026.
Commodity Markets
Oil prices held near seven-month highs as US-Iran talks loom, though tariffs cloud the outlook. Copper jumped as China's markets reopened and traders cheered potentially lower US tariffs. Gold pulled back after a four-day ascent as traders took profits.
Trade Policy & Tariffs
Los Angeles Port Executive Director Eugene Seroka warned importers face significant uncertainty due to shifts in US trade policy. FedEx filed a lawsuit against the US government seeking a full refund plus interest for tariffs imposed by President Trump. President Trump is considering alternative legislation to rebuild his tariff wall after the Supreme Court ruled against his emergency tariff authority.
Technology & AI
Anthropic kicked off a share sale for current and former employees at a $350 billion valuation. Citrini Research called for an AI tax to cushion effects of job losses from technological disruption. Chinese stocks gained on tariff relief hopes and optimism about homegrown AI technologies.