Global News | US Stocks Close Lower, Federal Reserve Officials Say Rate Cuts Are Not Wise

【U.S. Stock Indices】

On January 30th, Eastern Time (Friday), the three major U.S. stock indices all closed lower, with the S&P 500 down 0.43% to 6939.03; the Dow Jones Industrial Average down 0.37% to 48892.47; and the Nasdaq down 0.94% to 23461.82.

【U.S. Bonds】

On January 30th, the benchmark 10-year U.S. Treasury yield was 4.26%, and the yield on the 2-year U.S. Treasury, most sensitive to Federal Reserve policy rates, was 3.52%.

【Popular U.S. Stocks】

Among popular U.S. stocks, Nvidia fell 0.72%, Google C fell 0.04%, Google A fell 0.01%, Apple rose 0.47%, Microsoft fell 0.74%, Amazon fell 1.01%, Meta fell 2.95%, TSMC fell 2.66%, Tesla rose 3.33%, Super Micro Semiconductor fell 6.13%, Intel fell 4.50%.

【Global Indices】

【China Indices】

On January 30th, overnight Hang Seng Tech Index futures fell 2.07%, Nasdaq China Golden Dragon Index fell 2.36%, FTSE China A50 Index fell 0.67%.

【Chinese Concept Stocks】

Among popular Chinese concept stocks, Tencent Holdings (HK stock) fell 2.57%, Alibaba fell 2.67%, Pinduoduo fell 1.61%, NetEase fell 2.48%, Baidu fell 2.75%, Ctrip fell 1.05%, Li Auto fell 3.65%, Xpeng Motors fell 3.23%, NIO fell 1.15%.

【Forex and Commodities】

【Global News】

Federal Reserve Governor Milan states that Trump never asked him to do anything regarding monetary policy

Federal Reserve Governor Milan stated that Trump never asked him to do anything regarding monetary policy. (Cailian Press)

Federal Reserve’s Moussali: Waller is fully capable of serving as Federal Reserve Chair

Federal Reserve’s Moussali said Waller is fully capable of serving as Federal Reserve Chair. (Cailian Press)

Senator Warren writes to Waller asking if he supports the Department of Justice’s investigation into Powell and Cook

Senator Warren sent a letter to Waller on Friday, asking whether he supports the Department of Justice’s investigation into Powell and Cook. (Cailian Press)

Apple has recently seen multiple AI researchers and Siri team executives leave

Reports indicate that Apple has recently seen several AI researchers and Siri team executives depart. (Cailian Press)

Federal Reserve official Moussali: Lowering interest rates now would be unwise

Cailian News, January 31 — Federal Reserve official Moussali stated that lowering interest rates at this time would be unwise. The risk of a significant deterioration in the employment market has decreased, and if new evidence of a weakening employment market emerges, it could support rate cuts. Short-term inflation is unlikely to accelerate, and if inflation expectations fall to the target level, that could support rate cuts. The U.S. economy is expected to grow at or above trend levels through 2026. (Cailian Press)

Trump: The renovation of the Federal Reserve headquarters is either incompetence or theft

Regarding the Department of Justice’s investigation into Powell, Trump said that the renovation of the Federal Reserve headquarters is either incompetence or theft.

Senate Minority Leader Schumer: The Department of Justice should not withdraw its investigation into Powell, or Republicans will not advance Waller’s nomination

Senate Minority Leader Schumer stated that if the Department of Justice does not withdraw its investigation into Federal Reserve Chairman Powell, then Republicans will not be able to push Waller’s nomination forward. (Cailian Press)

Federal Reserve Governor Milan: Deregulation will enable the Fed to reduce its balance sheet

Federal Reserve Governor Milan said he believes Fed officials will welcome Waller. Continued active efforts to optimize regulatory scale are necessary, and deregulation will allow the Fed to shrink its balance sheet. The Fed’s forecasts can be modernized. (Cailian Press)

Eli Lilly plans to spend $3.5 billion at its Pennsylvania plant

Eli Lilly plans to invest $3.5 billion in its Pennsylvania plant to produce next-generation weight-loss drugs.

Hasset not disappointed about “failed Fed Chair nomination” and criticizes the Fed’s January inaction

White House advisor Hasset said he is not disappointed about not being nominated as Fed Chair by President Trump. Hasset expressed high respect for Kevin Waugh, the Fed Chair nominee, and will do his best to promote Senate confirmation. The White House believes Waller’s nomination should be quickly confirmed by Congress. The Fed’s decision not to cut rates in January was a mistake. (Cailian Press)