Market Roundup: What Happened Yesterday and What We Can Expect Today (January 15)

Markets Under Pressure and Gold Soars to Record Highs: US Stocks Decline Amid Bank Profits and Investor Anticipation

U.S. markets posted another negative session on Wednesday, with major indices closing lower as investors reacted to a fresh wave of bank earnings and mixed economic data. At the same time, liquidity flowed toward traditional safe havens, pushing gold and silver prices to unprecedented record levels.

The tech-heavy Nasdaq Composite fell 1%, while the S&P 500 declined about 0.5%. The Dow Jones Industrial Average was relatively resilient, slipping just 0.1%.

The move extended losses from the previous session, which followed the start of the bank earnings season after a mixed report from JPMorgan Chase. Under continued pressure, shares of major banks pushed lower. JPMorgan stock, which fell more than 4% a day earlier, dropped a further 1% on Wednesday. Citigroup declined 3.4%, Bank of America lost 3.7%, and Wells Fargo slid roughly 4.6% after releasing its fourth-quarter results.

On the data front, the Bureau of Labor Statistics’ Producer Price Index, delayed by the government shutdown, showed wholesale prices rising 0.2% in November, below expectations of 0.3%. In contrast, retail sales surprised to the upside, increasing 0.6% versus forecasts of 0.4%, highlighting continued resilience in consumer demand.

In bond markets, the yield on the 10-year U.S. Treasury fell below 4.15%, down from more than 4.18% on Tuesday. While lower yields offered some support, they were not enough to reverse broader equity losses.

Energy markets also weakened. West Texas Intermediate crude futures fell 1.6% to settle near $60.15 a barrel after President Donald Trump suggested he may back away from a military strike against Iran, easing geopolitical risk premiums.

Precious metals, however, surged. Gold jumped to a record $4,650 an ounce before settling near $4,635, up almost 1%. Silver broke above $90 per ounce for the first time, surging 7.5% to a record above $93 amid strong hedging demand.

Financial stocks remained under pressure following Trump’s comments about a possible 10% cap on credit card interest rates, although Visa and Mastercard rebounded modestly, rising 0.4% each.

In technology, Nvidia slipped 1.4% after the U.S. administration said exports of advanced H200 chips to China would be permitted only under stricter security standards. Netflix fell around 2% following reports it is preparing a $72 billion all-cash bid for HBO Max and Warner Bros. Discovery Studios. Warner Bros. Discovery shares edged down 0.8%, while Paramount SkyDance declined 0.5% despite its rival takeover offer.

In cryptocurrencies, Bitcoin extended gains for a second session, trading near $97,500, while Strategy& shares jumped 3.7%, among the Nasdaq’s top performers. The U.S. dollar index was little changed at 99.10.

Market Outlook

Markets are expected to remain volatile, with investors focused on remaining bank earnings and signals from policymakers. Equities may face further downside pressure if weakness in financials and technology persists. Precious metals could stay supported if real yields remain low, while Bitcoin’s momentum may continue, though profit-taking near recent highs remains a risk.