Global News | US stocks close lower across the board, NVIDIA H200 chip export to China faces eased regulations

【U.S. Stock Indices】

On Tuesday, January 13th, Eastern Time, the three major U.S. stock indices all closed lower, with the S&P 500 down 0.19% to 6,963.74; the Dow Jones Industrial Average down 0.80% to 49,191.99; and the Nasdaq down 0.10% to 23,709.87.

【U.S. Treasury Bonds】

On January 13th, the benchmark 10-year U.S. Treasury yield was 4.18%, and the yield on the 2-year Treasury, most sensitive to Federal Reserve policy rates, was 3.53%.

【Popular U.S. Stocks】

Among popular U.S. stocks, Nvidia rose 0.47%, Google Class C increased 1.11%, Google Class A rose 1.24%, Apple gained 0.31%, Microsoft fell 1.36%, Amazon declined 1.57%, TSMC dropped 0.19%, Meta fell 1.70%, Tesla decreased 0.39%, Super Micro Semiconductor surged 6.39%, and Intel rose 7.33%.

【Global Indices】

【China Indices】

On January 13th, overnight Hang Seng Tech Index futures rose 0.38%, Nasdaq China Golden Dragon Index fell 1.86%, and FTSE China A50 Index declined 0.49%.

【Chinese Concept Stocks】

In popular Chinese concept stocks, Tencent Holdings (HK) rose 0.72%, Alibaba increased 0.40%, Pinduoduo fell 5.40%, NetEase declined 1.97%, Baidu dropped 1.91%, Ctrip fell 4.15%, Xpeng Motors decreased 3.04%, Li Auto declined 2.35%, and NIO fell 3.20%.

【Forex and Commodities】

【Global News】

U.S. Eases Export Controls on Nvidia H200 Chips to China

On January 13th, local time, according to the U.S. Federal Register, the U.S. has relaxed regulations on the export of Nvidia H200 chips to China. Previously, President Trump announced via social media that the U.S. government would allow Nvidia to sell H200 AI chips to China. The sales to China will be subject to approval and security review by the U.S. Department of Commerce, which will also charge fees for related transactions. (CCTV News)

U.S. President Trump: Hopes Fed Chair Will Cut Rates When Economic Data Looks Good

U.S. President Trump stated that he hopes the Federal Reserve Chair will lower interest rates when economic data performs well. (Cailian Press)

Fed Chair Powell Under Criminal Investigation, Experts Reveal Political Calculations

U.S. federal prosecutors have launched a criminal investigation into Fed Chair Jerome Powell. Powell confirmed on January 11th that a subpoena from the U.S. Department of Justice had been delivered to the Federal Reserve. Multiple sources revealed that the criminal investigation into Powell and the Fed began as early as November 2023. (CCTV News)

Fed’s Mester: No Reason to Further Easing Monetary Policy in the Short Term

Fed’s Mester stated that inflation is close to 3% rather than 2%, but is expected to decline this year. Economic growth in 2026 is projected to reach or exceed potential levels. There is no reason to further ease monetary policy in the short term. (Jiemian News)

Fed’s Voice: December CPI Unlikely to Change Current Wait-and-See Attitude

Nick Timiraos, the Fed’s spokesperson, said that the December Consumer Price Index (CPI) is unlikely to change the Fed’s current cautious stance, as officials probably want to see more evidence before cutting rates, indicating inflation is stabilizing and gradually declining. The Fed has cut the benchmark rate three times in recent meetings, most recently in December, despite inflation having stopped decreasing last year. The rate cuts are driven by concerns over a potential larger-than-expected slowdown in the labor market. To resume rate cuts, Fed officials likely need new evidence showing worsening labor market conditions or weakening price pressures, which may require several more months of inflation data to become clear.

Morgan Stanley: Inflation Not Heating Up but Still Above Target, Not Sufficient to Support Rate Cut in January

Morgan Stanley Wealth Management Chief Economist Guneet Sethi commented on U.S. inflation: “We’ve seen this before—inflation has not reignited but remains above target. The cost pass-through from tariffs remains limited, but housing affordability has not improved. Today’s inflation report is not enough to justify a rate cut later this month.” (Sina Finance)

Apple Launches “Apple Creators Studio”

Apple announced the launch of “Apple Creators Studio.” (First Financial)

Traders Increase Bets on Fed Rate Cuts, Probability of April Cut Rises to 42%

On Tuesday, traders increased bets that the Fed might not wait until Fed Chair Powell’s term ends in May to cut rates, following a report from the U.S. Bureau of Labor Statistics showing core consumer prices rose slightly below expectations. While June remains the most likely month for a cut, the latest data suggests a 42% chance of a rate cut in April, up from 38% before the data release.

Delta Air Lines Orders 30 Boeing 787-10 Wide-Body Aircraft

On January 13th, Delta announced an agreement to purchase 30 Boeing 787-10 wide-body aircraft, with an option to buy an additional 30. Delivery is planned to begin in 2031. Delta also reached an agreement with engine manufacturer GE Aerospace to provide maintenance services for the GEnx engines selected for these aircraft. (Jiemian News)

Meta’s Metaverse Division to Lay Off Over 1,000 Employees

Meta’s Metaverse division will lay off over 1,000 employees, with notifications starting Tuesday morning. (Sina Finance)