U.S. Markets: U.S. equity markets finished modestly lower on Friday, as gains in real estate and industrial stocks were offset by weakness in the health care sector. Treasury yields rose modestly, with the 10-year yield closing at 4.23%, remaining largely range-bound between 4.0% and 4.25%.
Trade & Tariffs: President Donald Trump threatened tariffs up to 25% on imports from eight European allies if Greenland is not sold to the U.S., prompting condemnation from EU officials. Overseas, European markets declined, while Asian markets rose after a Taiwan–U.S. trade agreement lowered tariffs on Taiwanese imports in exchange for a $250 billion investment in U.S. semiconductor manufacturing.
Elon Musk Lawsuit: Elon Musk is seeking $134 billion from OpenAI and Microsoft, claiming the companies earned "wrongful gains" from his early contributions. Both companies reject the claim and filed motions challenging his damages calculations ahead of a jury trial.
JPMorgan Dispute: Trump plans to sue JPMorgan over alleged "debanking" after Jan. 6, accusing CEO Jamie Dimon of political discrimination. JPMorgan denied wrongdoing and emphasized it does not close accounts based on political or religious beliefs.
Tech Supply Chain: Nvidia suppliers halted production of H200 AI chips after China blocked shipments, putting planned Chinese orders at risk. The company had ramped up production following U.S. approval for sales in China.
Biotech Approvals: The Saudi FDA granted accelerated approval for ImmunityBio's ANKTIVA® to treat BCG-unresponsive non-muscle-invasive bladder cancer, expanding global access. Enrollment in ongoing trials for BCG-naïve patients is ahead of schedule, with full enrollment expected by Q2 2026.
Economic Data: Investors digested a full week of economic data. Inflation and retail sales were largely in line with expectations: headline CPI rose 0.3% MoM and 2.7% YoY, while core CPI was slightly below estimates. Retail sales for November exceeded forecasts, up 0.6% MoM (+0.5% ex-autos).
Commodities & Currency: Crude oil futures fell over 4% as traders reassessed a potential U.S. military strike on Iran. Silver hit a record high, gold slipped slightly from its record, and the U.S. dollar strengthened against major currencies.
Cryptocurrency: Bitcoin futures declined more than 1% on Thursday but rose slightly on Friday, marking a third straight weekly gain, the first since July, after the Senate Banking Committee delayed a key market-structure vote.
Earnings Highlights: Fourth-quarter earnings season began with strong results from major U.S. banks, including JPMorgan Chase, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley. S&P 500 earnings are expected to grow 8% YoY in Q4, led by tech sector growth of over 25%.
Individual Stocks:
Micron Technology (MU) jumped after a board member bought nearly $8 million in shares.
PNC Financial (PNC) rose after reporting a 25% increase in Q4 profit and projecting 11% revenue growth for 2026.
J.B. Hunt (JBHT) fell after reporting weaker quarterly revenue due to lower transcontinental load volumes.
Coupang (CPNG) gained following a Deutsche Bank upgrade to Buy, citing that regulatory risks are largely priced in.
Trump Blasts Dimon, Threatens Lawsuit Against JPMorgan Over 'Debanking'
President Donald Trump criticized JPMorgan Chase & Co. and its chief executive, Jamie Dimon, on Saturday, threatening to sue the bank over his claim that he was improperly "debanked" following the Jan. 6, 2021, Capitol riot. Trump's remarks came in response to a Wall Street Journal report suggesting he had previously floated Dimon as a potential Federal Reserve chair—a claim Trump dismissed. In a post on social media, Trump said no such offer was ever made and added that he plans to file a lawsuit against JPMorgan within the next two weeks for what he described as the bank's "incorrect and inappropriate" closure of his accounts.
Musk Seeks Up To $134 Billion From OpenAI and Microsoft in 'Wrongful Gains'
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that he is entitled to "wrongful gains" the companies allegedly earned from his early involvement, according to a court filing submitted Friday. Musk claims OpenAI generated between $65.5 billion and $109.4 billion in value from his contributions when he helped co-found the organization in 2015, while Microsoft gained between $13.3 billion and $25.1 billion. The filing comes ahead of a jury trial between Musk and the two companies.
Earnings Spotlight: United Airlines (UAL)
United AirlinesUAL is scheduled to report fourth-quarter 2025 results on Jan. 20, after market close. The Zacks Consensus Estimate for fourth-quarter 2025 earnings has declined 7.6% over the past 60 days to $3.05 per share. The consensus mark indicates a decline of 6.4% from the fourth-quarter 2024 actuals. The Zacks Consensus Estimate for revenues is pegged at $15.44 billion, indicating a 5.04% increase from the fourth-quarter 2024 actuals.
What's Ahead
Monday (Jan. 19): -no reports-
Tuesday (Jan. 20): -no reports-
Wednesday (Jan. 21): Building Permits, Construction Spending, Housing Starts, MBA Mortgage Applications Index, Pending Home Sales
Thursday (Jan. 22): Continuing Claims, EIA Crude Oil Inventories, EIA Natural Gas Inventories, Q3 GDP – Revised (3rd estimate), Initial Claims, PCE Prices, Personal Income, Personal Spending
Friday (Jan. 23): University of Michigan Consumer Sentiment - Final
Earnings:
Monday (Jan. 19): -no reports-
Tuesday (Jan. 20): D.R. Horton Inc. (DHI), Fastenal Co. (FAST), Fifth Third Bancorp (FITB), KeyCorp (KEY), Interactive Brokers Group Inc. (IBKR), Netflix Inc. (NFLX), 3M Co. (MMM), United Airlines (UAL), US Bancorp (USB), Zions Bancorporation (ZION)
Wednesday (Jan. 21): CACI International Inc. (CACI), Charles Schwab Corp. (SCHW), Halliburton Co. (HAL), Johnson & Johnson (JNJ), Kinder Morgan Inc. (KMI), Knight-Swift Transportation Holdings (KNX), Pinnacle Financial Partners Inc. (PNFP), Prologis Inc. (PLD), Rli Corp. (RLI), TE Connectivity PLC (TEL), Travelers Companies Inc. (TRV), Truist Financial Corp. (TFC)
Thursday (Jan. 22): Abbott Laboratories (ABT), Alcoa Corp. (AA), Capital One Financial Corp. (COF), CSX Corp. (CSX), East West Bancorp (EWBC), Freeport-McMoRan Inc. (FCX), GE Aerospace (GE), Huntington Bancshares (HBAN), Intel Corp. (INTC), Intuitive Surgical Inc. (ISRG), McCormick & Company (MCK), Procter & Gamble Co. (PG)
Friday (Jan. 23): Booz Allen Hamilton Holding Corp. (BAH), Comerica Inc. (CMA), First Citizens BancShares (FCNCA), SLB NV (SLB), Webster Financial Corp. (WBS)
Disclaimer: We are engaged in the business of advertising and promoting companies. All content on our website is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. Neither the owner of Trading Wire nor any of its members, officers, directors, contractors or employees are licensed broker-dealers, account representatives, market makers, investment bankers, investment advisers, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with a licensed securities professional before purchasing or selling any securities of companies profiled or discussed on Trading Wire. It is possible that a viewer's entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed on this website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. Trading Wire makes no recommendation that the securities of the companies profiled or discussed on this website should be purchased, sold or held by viewers that learn of the profiled companies through our website.
Some of the content on this website contains "forward-looking statements." Such statements may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential," or similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions, and are subject to various known and unknown risks and uncertainties, many of which may be beyond a company's control, and cannot be predicted or quantified, and, consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. It is hereby noted that forward-looking statements contained herein may include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward-looking statements or announcements mentioned on this website or the websites contained within. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the company's filings with the Securities and Exchange Commission. However, a company's past performance does not guarantee future results.
Generally, the information regarding a company profiled or discussed on this website is provided from public sources tradingwire.com makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained through our website or in communications originating from our website. Viewers should use the information provided by us regarding the profiled companies as a starting point for additional independent research on the companies profiled or discussed in order to allow the viewer to form his or her own opinion regarding investing in the securities of such companies. Factual statements, or the similar, made by the profiled companies are made as of the date stated and are subject to change without notice and Trading Wire has no obligation to update any of the information provided. Trading Wire, its owners, officers, directors, contractors and employees are not responsible for errors and omissions.
From time to time certain content on this website is written and published by our employees or third parties. In addition to information about our profiled companies, from time to time, our website will contain the symbols of companies and/or news feeds about companies that are not being profiled by us but are merely illustrative of certain activity in the micro cap or penny stock market that we are highlighting. Viewers are advised that all analysis reports and news feeds are issued solely for informational purposes. Any opinions expressed are subject to change without notice. It is also possible that one or more of the companies discussed or profiled on this website may not have approved certain or any statements within the website. Trading Wire encourages viewers to supplement the information obtained from this website with independent research and other professional advice. The content on this website is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of the available data. Third Party Web Sites and Other Information This website may provide hyperlinks to third party websites or access to third party content.Trading Wire, its owners, officers, directors, contractors and employees are not responsible for errors and omissions nor does Trading Wire control, endorse, or guarantee any content found in such sites. Trading Wire does not control, endorse, or guarantee content found in such sites. By accessing, viewing, or using the website or communications originating from the website, you agree that Trading Wire, its owners, officers, directors, contractors and employees, are not responsible for any content, associated links, resources, or services associated with a third party website. You further agree that Trading Wire, its owners, officers, directors, contractors and employees shall not be liable for any loss or damage of any sort associated with your use of third party content. Links and access to these sites are provided for your convenience only. Trading Wire uses third parties to disseminate information to subscribers. Although we take precautions to prevent others from obtaining our subscriber list, there is a risk that our subscriber list, through no wrong doing on our part, could end up in the hands of an unauthorized party and that subscribers will receive communications from unauthorized third parties. We encourage viewers to invest carefully and read the investor issuer information available at the web sites of the United States Securities and Exchange Commission (SEC). The SEC has launched an investor-focused website to help you invest wisely and avoid fraud at www.investor.gov and filings made by public companies can be viewed at www.sec.gov and/or the Financial Industry Regulatory Authority (FINRA) at: www.finra.org. In addition, FINRA has published information at its website on how to invest carefully at www.finra.org/Investors/index.htm.
