Overnight US Stocks | The Three Major Indices Close Lower This Week, Bitcoin Concept Stocks Surge

CryptoWatch Finance APP has learned that all three major U.S. stock indices declined this week, with the Dow down 1.23%, the Nasdaq down 2.1%, and the S&P 500 down 1.39%. The U.S. January goods and services prices increased at a lower year-over-year rate than expected, bringing hope that the persistent inflation problem in the U.S. is beginning to ease. The U.S. Bureau of Labor Statistics announced on Friday that the Consumer Price Index (CPI) for January rose 2.4% year-over-year, easing 0.3 percentage points from the previous month. This inflation rate has fallen back to the level of the month after President Trump announced hefty import tariffs on U.S. goods in April 2025.

[U.S. Stocks] As of Friday’s close, the Dow gained 48.95 points, up 0.10%, to 49,500.93; the Nasdaq fell 50.48 points, down 0.22%, to 22,546.67; the S&P 500 rose 3.41 points, up 0.05%, to 6,836.17. Bitcoin-related stocks rose, with Coinbase (COIN.US) up over 16% after earnings, Strategy (MSTR.US) up over 8.8%, Robinhood (HOOD.US) and Circle (CRCL.US) up over 6%, and Iren Ltd (IREN.US) up over 5%.

[European Stocks] Germany’s DAX 30 index rose 78.91 points, up 0.32%, to 24,906.74; the UK FTSE 100 rose 39.01 points, up 0.38%, to 10,441.45; France’s CAC 40 declined 28.82 points, down 0.35%, to 8,311.74; the Euro Stoxx 50 fell 26.63 points, down 0.44%, to 5,984.66; Spain’s IBEX 35 dropped 236.58 points, down 1.32%, to 17,660.32; Italy’s FTSE MIB declined 807.45 points, down 1.75%, to 45,415.50.

[Cryptocurrency] Bitcoin rebounded sharply, rising over 4% intraday to $68,927.36; Ethereum increased over 5.4% to $2,053.51.

[Precious Metals] Spot gold rose 2.45% to $5,043.08; spot silver increased 2.83% to $77.37 per ounce. Antonio Di Giacomo from XS.com stated in a report that despite volatility in the precious metals market, demand for safe-haven assets remains, supporting the rise in gold and silver prices.

[Crude Oil] WTI March futures settled up 0.1% at $62.89 per barrel; Brent April futures settled up 0.3% at $67.75 per barrel.

[Macro News]

U.S. January CPI growth below expectations, stable labor market may keep Fed on hold. The U.S. Bureau of Labor Statistics announced on Friday that January CPI increased 0.2% month-over-month, slightly below December’s 0.3% rise and below economists’ forecast of 0.3%. Excluding volatile food and energy prices, core CPI rose 0.3% MoM, slightly higher than December’s 0.2%. Year-over-year, CPI increased 2.4%, slowing from December’s 2.7%, mainly due to high base effects last year; core CPI rose 2.5% YoY, below December’s 2.6%. The January report for the first time incorporated an updated seasonal adjustment factor reflecting price changes in 2025. Economists note that January core CPI data often exceeds expectations because the Bureau’s model does not fully account for one-time price increases at the start of the year. The current month’s increase may reflect both this seasonal effect and the transmission of broad tariffs introduced by Trump. Despite easing inflation, a stable labor market may lead the Federal Reserve to keep interest rates unchanged for a period. Economists expect that, due to import tariffs and last year’s dollar depreciation, inflation may see a phased rebound during the year.

U.S. Supreme Court to issue opinion on Trump tariffs on February 20. Reports indicate that the U.S. Supreme Court has set February 20 as the next date for issuing opinions, amid global anticipation of a ruling that could invalidate most of former President Trump’s signature tariffs. The justices are also expected to release opinions on February 24 and 25. This tariff dispute is one of 12 cases still pending, with arguments held in October or November and no decision yet. U.S. federal data shows that disputed tariffs cause over $16 billion in monthly losses for importers. Analyst Chris Kennedy estimates that, at this rate, the total tariffs collected under the core legal basis—Section 232 of the 1977 International Emergency Economic Powers Act—could exceed $170 billion by February 20.

U.S. Treasury Secretary: Senate Finance Committee agrees to advance Wosch’s Fed nomination hearing. Treasury Secretary Janet Yellen said on Friday that, despite reservations from a key senator, the Senate Finance Committee has agreed to move forward with confirmation hearings for President Trump’s nominee, Kevin Wosch, to become Fed Chair. Yellen stated, “I believe holding hearings is crucial. Chairman Powell’s term ends in mid-May, and anyone concerned about the Fed’s integrity and independence would want to see Kevin Wosch ensure continuity.”

Bank of America: “Buy everything except the dollar” trade will boost international assets. Bank of America strategist Michael Hartnett said that U.S. trade policies are creating a “new world order,” with investors selling the dollar and U.S. stocks to shift into international assets. In a report, he wrote that Trump’s “overheated policies” have spawned a new “Anything But The Dollar” trade, replacing American exceptionalism with global rebalancing. Hartnett believes this will boost international equities, with emerging market commodities likely to benefit from AI-driven demand growth. He also noted that investor allocations to China and India remain underweight.

Fed plans to appoint Wall Street lawyer Quen as head of regulatory affairs. Two sources familiar with the matter said the Fed is expected to appoint Randall Guynn, a seasoned Wall Street attorney with deep ties to banking, as the new director of regulatory affairs. Guynn, a former partner at Davis Polk & Wardwell, has represented many large U.S. banks. He will succeed Michael Gibson, who announced his retirement last July after over 30 years at the Fed. Since May 2025, Guynn has served as an advisor to Fed Board Member and regulatory vice chair Bowman. The appointment still requires a vote by the seven-member Fed Board, with no specific timing announced. Once appointed, he will report to Bowman. Choosing Guynn as head of regulatory affairs marks a significant shift in Fed personnel, as this position has traditionally been held by long-serving internal staff since at least 1977.

U.S. supports preliminary 133% tariff on Russian palladium imports. Reports indicate that the U.S. Department of Commerce has preliminarily supported a petition by a mining company to impose anti-dumping duties of nearly 133% on Russian palladium imports, with a final decision expected later this year. Sibanye Stillwater, which owns the Stillwater palladium mine in Montana, filed a petition last year with the Department of Commerce and the International Trade Commission, claiming that Russian palladium is sold below fair value when shipped to the U.S. The company alleges that the Russian government provides various forms of financial support to its palladium producers, including subsidies, preferential loans, and lax environmental regulations. The preliminary ruling to impose a 132.83% tariff on unrefined Russian palladium still requires final approval from both agencies. Sibanye expects the final decision to be made by June.

[Stock News]

Amazon-backed X-Energy Reactor’s nuclear fuel approved by U.S. regulators. Reports say that X-Energy, an advanced nuclear company supported by Amazon, has received U.S. federal approval to produce uranium fuel for advanced reactors, marking the first such license in over 50 years. The company’s Triso-X division has begun constructing its first plant, expected to start producing fuel in 2028. The license issued last Friday by the Nuclear Regulatory Commission allows the construction of two production facilities at the Oak Ridge site in Tennessee. X-Energy is among several companies developing next-generation reactor technology, including new nuclear fuels. The Tennessee plant will produce Triso fuel kernels—poppy seed-sized, triple-structured, isotropic uranium particles—that operate at higher temperatures and last longer than traditional fuel. These kernels will be encapsulated into larger capsules or spheres using highly enriched low-enriched uranium (HALEU), potentially powering various new reactor designs.

SpaceX plans to use dual-class shares in IPO to strengthen Musk’s control over Tesla (TSLA.US). Reports indicate SpaceX is considering adopting a dual-class share structure in its planned IPO later this year, similar to the scheme Musk proposed for Tesla. This structure would give certain shareholders higher voting rights, allowing Musk and insiders to maintain control even with a minority stake. Sources say SpaceX is expanding its board to prepare for the IPO and is pushing Musk’s space ambitions beyond traditional rocket and satellite business. The company aims to go public later this year, raising up to $50 billion to fund space AI data centers and lunar factories. Recently, SpaceX also acquired Musk’s xAI to enter AI. Discussions are ongoing, and IPO details may change. SpaceX has not responded to requests for comment. Dual-class structures are common among tech giants like Meta and Google, often giving founders 10–20 times the voting power of ordinary shares. Critics argue this reduces accountability. If adopted, Musk could resist activist investors and retain tight control. Musk has publicly supported dual-class shares and attempted to establish a similar structure at Tesla, demanding at least 25% voting rights or threatening to move AI and robotics operations elsewhere. Media reports have also discussed the possibility of a merger between SpaceX and Tesla, with some investors pushing for it.

Nvidia (NVDA.US) leases data center and completes highly sought-after $3.8 billion bond issuance. Reports say that Tract Capital issued $3.8 billion in bonds for a Nevada data center project that will be long-term leased to Nvidia. The bond offering attracted $14 billion in investor demand, with a coupon rate of 5.875%, below expectations, and the issuance size was increased by $150 million from the initial plan. According to the offering documents, Nvidia’s initial lease term is about 16 years, with two 10-year renewal options; the oversubscription proceeds will reduce equity contributions from Tract Capital funds. JPMorgan led the deal, with Morgan Stanley as co-underwriter. This transaction highlights the booming AI computing infrastructure financing, where even junk bonds backed by long-term Nvidia leases are highly sought after, reflecting strong market confidence in AI infrastructure development.

Apple (AAPL.US) and Google (GOOG.US, GOOGL.US) lose again in court challenge against U.S. patent review policy. Reports say that the U.S. Federal Circuit Court of Appeals on Friday dismissed lawsuits filed by Apple, Google, Intel, Cisco, and Edwards Lifesciences against a rule by the U.S. Patent and Trademark Office (USPTO). The rule reduces the number of patent validity reviews conducted by the agency. The court did not support the companies’ attempt to block this internal policy. The rule grants patent examiners greater discretion to reject inter partes review (IPR) petitions—procedures often used by tech giants to invalidate infringing patents. The companies argued that this internal rule significantly limits their opportunities to use IPR. They had sued the Patent Office in California federal court in 2020, claiming the rule was unlawful and weakened patent protections. In 2021, the California court dismissed the lawsuit; in 2023, the Federal Circuit revived the case; in 2024, the California court dismissed it again. Now, the Federal Circuit panel upheld the original ruling, stating that the rule is merely an internal policy statement that does not require public notice and comment. The USPTO and Intel declined to comment; other companies have not responded.

FTC escalates antitrust probe into Microsoft (MSFT.US), questions competitors about cloud and AI businesses. The U.S. Federal Trade Commission (FTC) is accelerating its review of Microsoft as part of an ongoing investigation into whether the company has illegally monopolized the enterprise computing market through its cloud software and AI products, including Copilot. Sources say the agency has recently issued civil investigative demands to several competitors in the commercial software and cloud computing markets. These demands include a series of questions about Microsoft’s licensing practices and other business conduct. At least six companies received such requests. Through these documents, the FTC seeks evidence that Microsoft is making it harder for customers to use Windows, Office, and other products on competing cloud services. Some sources also say the agency is requesting information on how Microsoft bundles AI, security, and identity software into Windows and Office products.