Stocks Fluctuate at Start of Busy Economic Week: Markets Wrap
(Bloomberg) — A big week for economic data began with stocks wavering as investors digested a $1 trillion surge that followed last week’s artificial intelligence-driven rout. Bitcoin fell below $70,000. Gold topped $5,000.
As Wall Street braced for key reports that will help shape the Federal Reserve outlook, equity traders refrained from making big bets. That was after a sharp advance that almost erased last week’s losses. While almost 400 shares in the S&P 500 dropped, the high-profile group of technology firms that were at the center of last week’s selloff continued to outperform.
The January jobs report on Wednesday and the consumer price index, due Friday, are unusually close together on the calendar after the partial government shutdown delayed each by a few days.
Economists predict payrolls rose 69,000 in January. Such an outcome would be the best in four months and offer some reassurance against further softening in the labor market. The unemployment rate is seen holding at 4.4%, near a four-year high.
“A so-so jobs report probably won’t have much of an impact, but traders expecting stocks to bounce on weak numbers have to consider the possibility that a choppy stock market may simply treat good news as good and bad news as bad,” said Chris Larkin at E*Trade from Morgan Stanley.
Each January release includes an annual revision to the jobs count, and the benchmark update is expected to reveal a notable markdown to payrolls growth in the year through March 2025.
Action in the US bond market was fairly muted following an earlier slide driven by news that Chinese regulators were said to be urging banks to curb Treasury exposure amid market risks.
The S&P 500 was little changed. The yield on 10-year Treasuries rose two basis points to 4.22%. The dollar fell 0.6%. Japanese equities jumped to a record after Prime Minister Sanae Takaichi secured a historic election triumph.
Corporate Highlights:
Alphabet Inc. is looking to raise about $15 billion from a US high-grade dollar bond sale, according to people with knowledge of the matter, adding to a borrowing spree by companies at the forefront of the artificial intelligence investment boom. Meta Platforms Inc. was given a European Union warning over policies that block the use of rival Artificial Intelligence assistants on WhatsApp, raising the possibility of further tensions with the Trump administration over the regulation of US tech companies. Eli Lilly & Co. agreed to buy closely held US biotech Orna Therapeutics Inc. for up $2.4 billion in cash, its second deal in as many days as the company expands its pipeline beyond its well-known blockbuster obesity drug Zepbound. Novo Nordisk A/S said it’s suing Hims & Hers Health Inc. for making knock-offs of its obesity medicines, even as Hims scrapped plans to sell a copycat version of the Wegovy pill. Kroger Co. plans to name Greg Foran as the supermarket chain’s next chief executive officer, according to a person familiar with the matter, as the nation’s largest grocer looks to carve a new path after a failed megadeal and an unexpected exit of its former boss. Apollo Global Management Inc. set a record in its business of making loans, a crucial plank in the firm’s ambition to become one of the largest underwriters on Wall Street. Newmont Corp., a partner with Barrick Mining Corp. in its most important mines, wants the Canadian company to improve the operations before it spins off the assets and believes it has the power to potentially block the initial public offering, according to people familiar with the matter. NatWest Group Plc agreed to buy wealth manager Evelyn Partners, as the British bank looks to increase its access to affluent clients in its home market. Some of the main moves in markets:
Stocks
The S&P 500 was little changed as of 9:49 a.m. New York time The Nasdaq 100 was little changed The Dow Jones Industrial Average fell 0.4% The Stoxx Europe 600 rose 0.1% The MSCI World Index rose 0.5% Bloomberg Magnificent 7 Total Return Index rose 0.3% Philadelphia Stock Exchange Semiconductor Index rose 0.7% IShares Expanded Tech-Software Sector ETF rose 1.2% The Russell 2000 Index fell 0.2% Currencies
The Bloomberg Dollar Spot Index fell 0.6% The euro rose 0.8% to $1.1912 The British pound rose 0.2% to $1.3639 The Japanese yen rose 1% to 155.65 per dollar Cryptocurrencies
Bitcoin fell 2% to $69,228.04 Ether fell 2.5% to $2,040.88 Bonds
The yield on 10-year Treasuries advanced two basis points to 4.22% Germany’s 10-year yield was little changed at 2.84% Britain’s 10-year yield advanced six basis points to 4.58% The yield on 2-year Treasuries declined one basis point to 3.49% The yield on 30-year Treasuries advanced three basis points to 4.88% Commodities
West Texas Intermediate crude rose 1% to $64.19 a barrel Spot gold rose 1.4% to $5,033.04 an ounce ©2026 Bloomberg L.P.
