India Movers: Birlasoft, Jindal Worldwide, WPIL, REC, Signatureglobal, Tata Steel

Stock market indexes in Mumbai traded down as investors lowered annual growth expectations amid a slowdown in consumer spending and delay in investment in infrastructure. 

The Sensex index decreased by 0.2% to 78,073.69, and the Nifty index fell by 0.2% to 23,673.30. 

On the Mumbai stock exchange, 70 stocks traded at their 52-week highs, and 52 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.78%, and the Indian rupee hovered at a record low of 85.78 against the U.S. dollar.

Tata Steel decreased 0.3% to ₹133.18, and the company reported an increase in steel production in the fiscal third quarter. 

Production in the December quarter increased 6% from a year ago to 5.68 million tons after the company commissioned a new blast furnace in Kalinganagar, Odisha. 

Sobha Ltd. declined 2.4% to ₹1,475.60, and the residential property developer said new home sales in the December quarter increased 17.8% from the previous quarter. 

New home sales rose to ₹138.8 crore, and the company pre-sold 10 lakh square feet at an average price of ₹13,663 per sq ft. 

Signatureglobal India Ltd. increased 0.9% to ₹1,365.0 after the residential developer reported a strong increase in pre-sales in the fiscal third quarter.

Advanced booking of new homes in the quarter surged 120% to ₹2,770 crore from ₹1,260 crore a year ago, and the company said milestone-based payment collection rose 40% to ₹1,080 crore from ₹770 crore. 

REC Ltd. fell 0.6% to ₹512.30, and the power company said it plans to invite additional bidders for the sale of ₹2,848 crore through an auction process. 

Birlasoft Ltd. declined 1.9% to ₹537.0 after chief executive Roopinder Singh resigned. 

Jindal Worldwide Ltd. increased 1.7% to ₹452.75, and the company announced a 4-to-1 bonus issue. 

WPIL Ltd. advanced 1.6% to ₹749.35, and the company said it acquired Italy-based large water station pump maker MISA. 

India Movers: Birlasoft, Jindal Worldwide, WPIL, REC, Signatureglobal, Tata Steel

Stock market indexes in Mumbai traded down as investors lowered annual growth expectations amid a slowdown in consumer spending and delay in investment in infrastructure. 

The Sensex index decreased by 0.2% to 78,073.69, and the Nifty index fell by 0.2% to 23,673.30. 

On the Mumbai stock exchange, 70 stocks traded at their 52-week highs, and 52 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.78%, and the Indian rupee hovered at a record low of 85.78 against the U.S. dollar.

Tata Steel decreased 0.3% to ₹133.18, and the company reported an increase in steel production in the fiscal third quarter. 

Production in the December quarter increased 6% from a year ago to 5.68 million tons after the company commissioned a new blast furnace in Kalinganagar, Odisha. 

Sobha Ltd. declined 2.4% to ₹1,475.60, and the residential property developer said new home sales in the December quarter increased 17.8% from the previous quarter. 

New home sales rose to ₹138.8 crore, and the company pre-sold 10 lakh square feet at an average price of ₹13,663 per sq ft. 

Signatureglobal India Ltd. increased 0.9% to ₹1,365.0 after the residential developer reported a strong increase in pre-sales in the fiscal third quarter.

Advanced booking of new homes in the quarter surged 120% to ₹2,770 crore from ₹1,260 crore a year ago, and the company said milestone-based payment collection rose 40% to ₹1,080 crore from ₹770 crore. 

REC Ltd. fell 0.6% to ₹512.30, and the power company said it plans to invite additional bidders for the sale of ₹2,848 crore through an auction process. 

Birlasoft Ltd. declined 1.9% to ₹537.0 after chief executive Roopinder Singh resigned. 

Jindal Worldwide Ltd. increased 1.7% to ₹452.75, and the company announced a 4-to-1 bonus issue. 

WPIL Ltd. advanced 1.6% to ₹749.35, and the company said it acquired Italy-based large water station pump maker MISA. 

U.S. Trade Deficit Expands In November, Service Surplus Jumps to Record High

U.S. international trade balance widened in November, after imports rose at a faster pace than exports as businesses ramped up purchases ahead of higher tariffs. 

Total exports in November increased 6.6% to $273.4 billion from $256.5 billion, and imports advanced 9.3% to $351.5 billion from $321.2 billion, resulting in an 21% increase in the trade deficit to $78.2 billion from $64.5 billion a year ago, respectively. 

Goods exports increased to $177.5 billion from $168.8 billion, and imports advanced to $280.9 billion from $257.2 billion, driving the goods deficit higher to $103.3 billion from $88.4 billion a year ago, respectively. 

Service exports increased to $95.8 billion from $87.7 billion, and imports advanced to $70.6 billion from $64.7 billion, increasing the surplus to $25.2 billion from $23.5 billion a year ago, respectively. 

The U.S. recorded the largest goods deficit in November with China, totaling $25.4 billion, followed by the European Union with $20.4 billion, Mexico with $15.4 billion, Vietnam with $11.3 billion, Ireland with $9.3 billion, and Taiwan and Japan over $5 billion. 

The U.S. recorded the largest goods surplus with the Netherlands, totaling $5.4 billion; South and Central America had $3.6 billion; Australia and Hong Kong had $2 billion each. 

Overall trade deficit in the first eleven months to November expanded to $813.8 billion from $719.9 billion, and goods deficit increased to $1.08 trillion from $974.8 billion offset by service surplus of $268.8 billion from $254.8 billion, a year ago, respectively. 

U.S. Trade Deficit Expands In November, Service Surplus Jumps to Record High

U.S. international trade balance widened in November, after imports rose at a faster pace than exports as businesses ramped up purchases ahead of higher tariffs. 

Total exports in November increased 6.6% to $273.4 billion from $256.5 billion, and imports advanced 9.3% to $351.5 billion from $321.2 billion, resulting in an 21% increase in the trade deficit to $78.2 billion from $64.5 billion a year ago, respectively. 

Goods exports increased to $177.5 billion from $168.8 billion, and imports advanced to $280.9 billion from $257.2 billion, driving the goods deficit higher to $103.3 billion from $88.4 billion a year ago, respectively. 

Service exports increased to $95.8 billion from $87.7 billion, and imports advanced to $70.6 billion from $64.7 billion, increasing the surplus to $25.2 billion from $23.5 billion a year ago, respectively. 

The U.S. recorded the largest goods deficit in November with China, totaling $25.4 billion, followed by the European Union with $20.4 billion, Mexico with $15.4 billion, Vietnam with $11.3 billion, Ireland with $9.3 billion, and Taiwan and Japan over $5 billion. 

The U.S. recorded the largest goods surplus with the Netherlands, totaling $5.4 billion; South and Central America had $3.6 billion; Australia and Hong Kong had $2 billion each. 

Overall trade deficit in the first eleven months to November expanded to $813.8 billion from $719.9 billion, and goods deficit increased to $1.08 trillion from $974.8 billion offset by service surplus of $268.8 billion from $254.8 billion, a year ago, respectively. 

Job Openings, Hires, and Separation Change Little In November

The number of job openings increased by 259,000 from the previous month to 8.1 million in November, the highest in six months, according to the U.S. Bureau of Labor Statistics. 

The number of job openings decreased by 833,000 from a year ago, indicating slight moderation in labor market conditions. 

The number of job openings increased in professional and business services, finance and insurance, and private educational services but decreased in information. 

Over the month, the number of hires and total separations changed little at 5.3 million and 5.1 million, respectively. 

Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration. 

Job Openings, Hires, and Separation Change Little In November

The number of job openings increased by 259,000 from the previous month to 8.1 million in November, the highest in six months, according to the U.S. Bureau of Labor Statistics. 

The number of job openings decreased by 833,000 from a year ago, indicating slight moderation in labor market conditions. 

The number of job openings increased in professional and business services, finance and insurance, and private educational services but decreased in information. 

Over the month, the number of hires and total separations changed little at 5.3 million and 5.1 million, respectively. 

Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration. 

S&P 500 and Nasdaq Drop 1% On Worries of Resurgent Inflation Powered by Trump Tariffs

Stock market indexes accelerated their decline in the early afternoon after failing to advance in the early hours of trading. 

High valuations, growing worries about resurgent inflation, and chaotic administration of president-elect Trump are on top of the list of worries facing investors in the new year.

Market indexes sold off after the latest survey of the service industry showed expansion but also confirmed the fears of rising inflation amid impending higher tariffs on imported goods in the months ahead. 

The ISM Services PMI rose 54.2 in December from 52.1 in November, however, the price index soared 6.2 points to 64.4, hitting the highest since February 2023.  

The S&P 500 index edged down 0.8%, and the Nasdaq inched lower 1.5% after Nvidia released a new superchip at the CES show in Las Vegas. 

Chief executive Jensen Huang noted robots as a "multi-million dollar opportunity" in a keynote address at the annual gathering, which attracts leading tech companies and attendees from around the world.

Despite the enthusiasm surrounding artificial intelligence, market sentiment was cautious ahead of the release of the nonfarm payrolls report later in the week. 

The number of job openings increased by 259,000 from the previous month to 8.1 million in November, the highest in six months, according to the U.S. Bureau of Labor Statistics. 

The number of job openings decreased by 833,000 from a year ago, indicating slight moderation in labor market conditions. 

The number of job openings increased in professional and business services, finance and insurance, and private educational services but decreased in information. 

Over the month, the number of hires and total separations changed little at 5.3 million and 5.1 million, respectively. 

Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration. 

In a four-day trading week, investors are awaiting the release of December's non-farm payrolls report, which could provide insights about labor market conditions. 

The New York Stock Exchange will remain closed on Thursday in honor of the late former U.S. president, Jimmy Carter. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.7% to 5,930.15, the Nasdaq Composite fell 1.6% to 19,559.39, and the Russell 2000 index inched down by 0.9% to 2,245.73. 

The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched up to 4.64%, and 30-year Treasury bonds increased to 4.86%.

WTI crude oil increased $0.39 to $73.98 a barrel, and natural gas prices edged down 18 cents to $3.48 a thermal unit.

Gold increased by $19.66 to $2,854.46 an ounce, and silver rose by $0.21 to $30.14. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.21 to 108.12 and traded at a two-year high. 

U.S. Stock Movers 

Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips. 

Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan. 

After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share. 

Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season. 

The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role. 

Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion. 

The potential merger talk was reported by Reuters, citing people familiar with the discussion. 

European Markets Wavered Amid Rate Path Worries 

European markets lacked direction as investors reviewed the latest inflation updates and debated rate paths ahead of the policy meeting later this month. 

Benchmark indexes in Paris, Frankfurt, Milan, and London wavered around the flatline after the Euro Area inflation accelerated in December. 

Euro Area Inflation Accelerated for the Third Consecutive Month 

The consumer price index in the eurozone increased for the third month in a row in December to 2.4% from 2.2% in November, Eurostat reported Tuesday. 

The rebound in inflation was widely anticipated because of the base effects driven by the large decline in energy prices that are no longer available in energy prices. 

Inflation for food, alcohol, and tobacco was stable, but for energy and services, it accelerated and eased for non-energy goods. 

Inflation in Germany and France Diverged In December 

The annual inflation in France was unchanged at 1.3% in December from the previous month, France's statistical agency INSEE reported Tuesday. 

Germany's statistical agency Destatis corrected that the annual consumer price inflation accelerated to 2.8% in December from the Monday's release of 2.6%, largely driven by the increase in energy prices. 

Consumer price inflation accelerated for the third month in a row and advanced from 2.2% in November and 2.0% in October. 

Italy's Jobless Rate Dropped to Record Low In December

The jobless rate in Italy decreased to 5.7% in December from 5.8% in the previous month, the National Institute of Statistics, or ISTAT, reported Tuesday. 

The jobless rate dropped to the lowest level since record keeping began in 1983. 

The number of people seeking jobs decreased by 24,000 to 1.46 million, the lowest since April 2007; the employment participation rate was unchanged at 66.3%, and the number of employed eased by 13,000 to 24.06 million. 

UK Home Price Growth Slowed In December 

UK home prices rose at the slowest pace in five months in December, and the average home price eased, Halifax and Bank of Scotland said in a report. 

The Halifax House Price Index increased 3.3% from a year ago in December, following a downwardly revised 4.7% increase in November. 

The average house price eased 0.2% from the previous month to £297,166, after rising for two consecutive months. 

"While the housing market has been supported in recent months by falling mortgage rates, income growth, and the announcement on upcoming stamp duty policy changes, mortgage affordability will remain a challenge for many, especially as the Bank Rate is likely to come down more slowly than previously predicted. 

However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well, and, taking all this into account, we’re continuing to anticipate modest house price growth this year,” said Amanda Bryden, Head of Mortgages, Halifax. 

Europe Indexes and Yields

The DAX index increased by 0.6% to 20,350.13; the CAC-40 index rose by 0.6% to 7,489.35; and the FTSE 100 index inched lower by 0.1% to 8,245.28. 

The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.

The euro edged higher to $1.043; the British pound inched up to $1.255; and the U.S. dollar eased to 90.51 Swiss cents.

Brent crude increased $0.72 to $77.02 a barrel, and the Dutch TTF natural gas rose by €0.66 to €47.84 per MWh. 

Europe Stock Movers

NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025. 

Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter. 

Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe. 

Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%. 

Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth. 

Tokyo Tech Rally Lifts Nikkei 225 1.9%, Yen Approaches Six-Month Low

Benchmark indexes in Tokyo rebounded, tracking gains in tech stocks in New York in overnight trading. 

The Nikkei 225 Stock Average soared 1.9%, and the broader TOPIX gained 1%, following a rise in semiconductor stocks in overnight trading in New York. 

Semiconductor-related stocks jumped after the Taiwan-based Foxconn reported a sharp jump in revenue in the December quarter, citing strong demand for artificial intelligence servers. 

Foxconn said it will release full fourth-quarter results on March 14. 

The rally in tech stocks broadened to financials, retailers, and automotive companies. 

In the week ahead, investors are looking forward to the release of household income and spending data, which could provide additional clues about consumer spending and saving. 

Japan Stock Movers 

The Nikkei 225 Stock Average increased 1.9% to 40,060.95, and the broader TOPIX index jumped 1% to 2,783.87. 

Advantest Corp. jumped 4.8% to ¥9,747.0, Tokyo Electron Ltd. soared 11.5% to ¥27,110.0, Disco Corp. increased 7.6% to ¥46,470.0, and Lasertec Corp. advanced 5.8% to ¥15,870.0. 

Mitsubishi UFJ Financial Group increased 2.9% to ¥1,913.0, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,872.0, and Mizuho Financial Group gained 2.2% to ¥3,969.0. 

Fast Retailing Co. Ltd. increased 1.2% to ¥52,180.0, Seven & I Holdings Co. Ltd. inched higher 0.3% to ¥2,449.0, and Isetan Mitsukoshi Holdings Ltd. gained 0.8% to ¥2,705.0. 

Toyota Motor Corp. gained 1.6% to ¥3,061.0, Honda Motor Corp. increased 1.6% to ¥1,607.50, Nissan Motor Corp. added 1.1% to ¥480.50, and Subaru Corp. advanced 1.6% to ¥2,793.50. 

Hang Seng Index Dropped 2% After U.S. Expanded Chinese Military Entities List 

Stocks in China and Hong Kong traded down in active trading amid rising trade tensions with the U.S. and ongoing weakness in the property market.

The Hang Seng index dropped 2%, and the mainland-focused CSI 300 index decreased 0.2% as investors reacted to the latest inclusion of key Chinese tech companies as "military entities" by the U.S. 

CATL, Cosco Shipping, and Tencent Holdings were included in the supplementary list among dozens of Chinese military companies in the Federal Register released by the Department of Defense on January 7. 

The inclusion in the register does not impose a trade ban with the companies but acts as a warning to U.S. investors from investing in these publicly traded companies. 

China Stock Movers 

The Hang Seng index dropped 2.2% to 19,257.84, and the mainland-focused CSI 300 index fell 0.2% to 3,759.95. 

The yield on 10-year Chinese government notes hovered near a record low of 1.6% amid persistent deflation worries and a lack of improvement in the property market outside of three key urban regions—Beijing, Shanghai, and Shenzhen. 

CATL dropped 3.4% to ¥247.99, Cosco Shipping Holdings dropped 4% to HK $12.18, and Tencent Holdings plunged 7.3% to HK $379.40. 

Other technology stocks declined on the worries that the U.S. may expand the banned list of companies in the sector for future investments. 

JD.com dropped 1.5% to HK $133.70, Meituan fell 2.4% to HK $147.10, Alibaba Group Holding decreased 1.3% to HK $81.05. and Baidu declined 0.9% to HK $80.0. 

Property developers continued the decline as activities in top cities outside three key urban regions are expected to remain weak in 2025. 

China Vanke Ltd. decreased 1.6% to HK $4.95, China Resources Land fell 0.7% to HK $22.0, Longfor Group dropped 0.9% to HK $9.84, and Henderson Land Development declined 1.7% to HK $22.85. 

S&P 500 and Nasdaq Drop 1% On Worries of Resurgent Inflation Powered by Trump Tariffs

Stock market indexes accelerated their decline in the early afternoon after failing to advance in the early hours of trading. 

High valuations, growing worries about resurgent inflation, and chaotic administration of president-elect Trump are on top of the list of worries facing investors in the new year.

Market indexes sold off after the latest survey of the service industry showed expansion but also confirmed the fears of rising inflation amid impending higher tariffs on imported goods in the months ahead. 

The ISM Services PMI rose 54.2 in December from 52.1 in November, however, the price index soared 6.2 points to 64.4, hitting the highest since February 2023.  

The S&P 500 index edged down 0.8%, and the Nasdaq inched lower 1.5% after Nvidia released a new superchip at the CES show in Las Vegas. 

Chief executive Jensen Huang noted robots as a "multi-million dollar opportunity" in a keynote address at the annual gathering, which attracts leading tech companies and attendees from around the world.

Despite the enthusiasm surrounding artificial intelligence, market sentiment was cautious ahead of the release of the nonfarm payrolls report later in the week. 

The number of job openings increased by 259,000 from the previous month to 8.1 million in November, the highest in six months, according to the U.S. Bureau of Labor Statistics. 

The number of job openings decreased by 833,000 from a year ago, indicating slight moderation in labor market conditions. 

The number of job openings increased in professional and business services, finance and insurance, and private educational services but decreased in information. 

Over the month, the number of hires and total separations changed little at 5.3 million and 5.1 million, respectively. 

Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration. 

In a four-day trading week, investors are awaiting the release of December's non-farm payrolls report, which could provide insights about labor market conditions. 

The New York Stock Exchange will remain closed on Thursday in honor of the late former U.S. president, Jimmy Carter. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.7% to 5,930.15, the Nasdaq Composite fell 1.6% to 19,559.39, and the Russell 2000 index inched down by 0.9% to 2,245.73. 

The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched up to 4.64%, and 30-year Treasury bonds increased to 4.86%.

WTI crude oil increased $0.39 to $73.98 a barrel, and natural gas prices edged down 18 cents to $3.48 a thermal unit.

Gold increased by $19.66 to $2,854.46 an ounce, and silver rose by $0.21 to $30.14. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.21 to 108.12 and traded at a two-year high. 

U.S. Stock Movers 

Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips. 

Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan. 

After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share. 

Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season. 

The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role. 

Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion. 

The potential merger talk was reported by Reuters, citing people familiar with the discussion. 

European Markets Wavered Amid Rate Path Worries 

European markets lacked direction as investors reviewed the latest inflation updates and debated rate paths ahead of the policy meeting later this month. 

Benchmark indexes in Paris, Frankfurt, Milan, and London wavered around the flatline after the Euro Area inflation accelerated in December. 

Euro Area Inflation Accelerated for the Third Consecutive Month 

The consumer price index in the eurozone increased for the third month in a row in December to 2.4% from 2.2% in November, Eurostat reported Tuesday. 

The rebound in inflation was widely anticipated because of the base effects driven by the large decline in energy prices that are no longer available in energy prices. 

Inflation for food, alcohol, and tobacco was stable, but for energy and services, it accelerated and eased for non-energy goods. 

Inflation in Germany and France Diverged In December 

The annual inflation in France was unchanged at 1.3% in December from the previous month, France's statistical agency INSEE reported Tuesday. 

Germany's statistical agency Destatis corrected that the annual consumer price inflation accelerated to 2.8% in December from the Monday's release of 2.6%, largely driven by the increase in energy prices. 

Consumer price inflation accelerated for the third month in a row and advanced from 2.2% in November and 2.0% in October. 

Italy's Jobless Rate Dropped to Record Low In December

The jobless rate in Italy decreased to 5.7% in December from 5.8% in the previous month, the National Institute of Statistics, or ISTAT, reported Tuesday. 

The jobless rate dropped to the lowest level since record keeping began in 1983. 

The number of people seeking jobs decreased by 24,000 to 1.46 million, the lowest since April 2007; the employment participation rate was unchanged at 66.3%, and the number of employed eased by 13,000 to 24.06 million. 

UK Home Price Growth Slowed In December 

UK home prices rose at the slowest pace in five months in December, and the average home price eased, Halifax and Bank of Scotland said in a report. 

The Halifax House Price Index increased 3.3% from a year ago in December, following a downwardly revised 4.7% increase in November. 

The average house price eased 0.2% from the previous month to £297,166, after rising for two consecutive months. 

"While the housing market has been supported in recent months by falling mortgage rates, income growth, and the announcement on upcoming stamp duty policy changes, mortgage affordability will remain a challenge for many, especially as the Bank Rate is likely to come down more slowly than previously predicted. 

However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well, and, taking all this into account, we’re continuing to anticipate modest house price growth this year,” said Amanda Bryden, Head of Mortgages, Halifax. 

Europe Indexes and Yields

The DAX index increased by 0.6% to 20,350.13; the CAC-40 index rose by 0.6% to 7,489.35; and the FTSE 100 index inched lower by 0.1% to 8,245.28. 

The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.

The euro edged higher to $1.043; the British pound inched up to $1.255; and the U.S. dollar eased to 90.51 Swiss cents.

Brent crude increased $0.72 to $77.02 a barrel, and the Dutch TTF natural gas rose by €0.66 to €47.84 per MWh. 

Europe Stock Movers

NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025. 

Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter. 

Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe. 

Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%. 

Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth. 

Tokyo Tech Rally Lifts Nikkei 225 1.9%, Yen Approaches Six-Month Low

Benchmark indexes in Tokyo rebounded, tracking gains in tech stocks in New York in overnight trading. 

The Nikkei 225 Stock Average soared 1.9%, and the broader TOPIX gained 1%, following a rise in semiconductor stocks in overnight trading in New York. 

Semiconductor-related stocks jumped after the Taiwan-based Foxconn reported a sharp jump in revenue in the December quarter, citing strong demand for artificial intelligence servers. 

Foxconn said it will release full fourth-quarter results on March 14. 

The rally in tech stocks broadened to financials, retailers, and automotive companies. 

In the week ahead, investors are looking forward to the release of household income and spending data, which could provide additional clues about consumer spending and saving. 

Japan Stock Movers 

The Nikkei 225 Stock Average increased 1.9% to 40,060.95, and the broader TOPIX index jumped 1% to 2,783.87. 

Advantest Corp. jumped 4.8% to ¥9,747.0, Tokyo Electron Ltd. soared 11.5% to ¥27,110.0, Disco Corp. increased 7.6% to ¥46,470.0, and Lasertec Corp. advanced 5.8% to ¥15,870.0. 

Mitsubishi UFJ Financial Group increased 2.9% to ¥1,913.0, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,872.0, and Mizuho Financial Group gained 2.2% to ¥3,969.0. 

Fast Retailing Co. Ltd. increased 1.2% to ¥52,180.0, Seven & I Holdings Co. Ltd. inched higher 0.3% to ¥2,449.0, and Isetan Mitsukoshi Holdings Ltd. gained 0.8% to ¥2,705.0. 

Toyota Motor Corp. gained 1.6% to ¥3,061.0, Honda Motor Corp. increased 1.6% to ¥1,607.50, Nissan Motor Corp. added 1.1% to ¥480.50, and Subaru Corp. advanced 1.6% to ¥2,793.50. 

Hang Seng Index Dropped 2% After U.S. Expanded Chinese Military Entities List 

Stocks in China and Hong Kong traded down in active trading amid rising trade tensions with the U.S. and ongoing weakness in the property market.

The Hang Seng index dropped 2%, and the mainland-focused CSI 300 index decreased 0.2% as investors reacted to the latest inclusion of key Chinese tech companies as "military entities" by the U.S. 

CATL, Cosco Shipping, and Tencent Holdings were included in the supplementary list among dozens of Chinese military companies in the Federal Register released by the Department of Defense on January 7. 

The inclusion in the register does not impose a trade ban with the companies but acts as a warning to U.S. investors from investing in these publicly traded companies. 

China Stock Movers 

The Hang Seng index dropped 2.2% to 19,257.84, and the mainland-focused CSI 300 index fell 0.2% to 3,759.95. 

The yield on 10-year Chinese government notes hovered near a record low of 1.6% amid persistent deflation worries and a lack of improvement in the property market outside of three key urban regions—Beijing, Shanghai, and Shenzhen. 

CATL dropped 3.4% to ¥247.99, Cosco Shipping Holdings dropped 4% to HK $12.18, and Tencent Holdings plunged 7.3% to HK $379.40. 

Other technology stocks declined on the worries that the U.S. may expand the banned list of companies in the sector for future investments. 

JD.com dropped 1.5% to HK $133.70, Meituan fell 2.4% to HK $147.10, Alibaba Group Holding decreased 1.3% to HK $81.05. and Baidu declined 0.9% to HK $80.0. 

Property developers continued the decline as activities in top cities outside three key urban regions are expected to remain weak in 2025. 

China Vanke Ltd. decreased 1.6% to HK $4.95, China Resources Land fell 0.7% to HK $22.0, Longfor Group dropped 0.9% to HK $9.84, and Henderson Land Development declined 1.7% to HK $22.85. 

S&P 500 Extends Rally to Third Consecutive Session On Merger Monday

Stock market indexes wavered, and investors remained focused on the gathering of tech companies in Las Vegas for an annual trade show. 

The S&P 500 index edged up 0.4%, and the Nasdaq inched higher 0.2% after Nvidia released a new superchip at the CES show in Las Vegas. 

Chief executive Jensen Huang is scheduled to deliver a keynote address at the annual gathering, which attracts leading tech companies and attendees from around the world.

Despite the enthusiasm surrounding artificial intelligence, market sentiment was cautious ahead of the release of the JOLTS report later today. 

Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration. 

In a four-day trading week, investors are awaiting the release of December's non-farm payrolls report, which could provide insights about labor market conditions. 

The New York Stock Exchange will remain closed on Thursday in honor of the late former U.S. president, Jimmy Carter. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.4% to 5,999.98, the Nasdaq Composite rose 0.2% to 19,930.81, and the Russell 2000 index inched down by 0.02% to 2,266.65. 

The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched up to 4.64%, and 30-year Treasury bonds increased to 4.86%.

WTI crude oil increased $0.45 to $74.01 a barrel, and natural gas prices edged down 5 cents to $3.62 a thermal unit.

Gold increased by $24.51 to $2,658.56 an ounce, and silver rose by $0.38 to $30.31. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.21 to 108.12 and traded at a two-year high. 

U.S. Stock Movers 

Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips. 

Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan. 

After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share. 

Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season. 

The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role. 

Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion. 

The potential merger talk was reported by Reuters, citing people familiar with the discussion. 

S&P 500 Extends Rally to Third Consecutive Session On Merger Monday

Stock market indexes wavered, and investors remained focused on the gathering of tech companies in Las Vegas for an annual trade show. 

The S&P 500 index edged up 0.4%, and the Nasdaq inched higher 0.2% after Nvidia released a new superchip at the CES show in Las Vegas. 

Chief executive Jensen Huang is scheduled to deliver a keynote address at the annual gathering, which attracts leading tech companies and attendees from around the world.

Despite the enthusiasm surrounding artificial intelligence, market sentiment was cautious ahead of the release of the JOLTS report later today. 

Moreover, the yield on the 10-year U.S. Treasury note hovered near a seven-month high amid worries about resurgent inflation and a surge in federal debt under the president-elect Trump's administration. 

In a four-day trading week, investors are awaiting the release of December's non-farm payrolls report, which could provide insights about labor market conditions. 

The New York Stock Exchange will remain closed on Thursday in honor of the late former U.S. president, Jimmy Carter. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.4% to 5,999.98, the Nasdaq Composite rose 0.2% to 19,930.81, and the Russell 2000 index inched down by 0.02% to 2,266.65. 

The yield on 2-year Treasury notes edged higher to 4.28%, 10-year Treasury notes inched up to 4.64%, and 30-year Treasury bonds increased to 4.86%.

WTI crude oil increased $0.45 to $74.01 a barrel, and natural gas prices edged down 5 cents to $3.62 a thermal unit.

Gold increased by $24.51 to $2,658.56 an ounce, and silver rose by $0.38 to $30.31. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.21 to 108.12 and traded at a two-year high. 

U.S. Stock Movers 

Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips. 

Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan. 

After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share. 

Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season. 

The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role. 

Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion. 

The potential merger talk was reported by Reuters, citing people familiar with the discussion. 

U.S. Movers: Getty Images, Inari Medical, Nvidia, Shutterstock, Stryker, Ulta Beauty

Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips.  

Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan. 

After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share. 

Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season. 

The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role. 

Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion. 

The potential merger talk was reported by Reuters, citing people familiar with the discussion. 

U.S. Movers: Getty Images, Inari Medical, Nvidia, Shutterstock, Stryker, Ulta Beauty

Nvidia Corp. increased 2.5% to $153.21 after the advanced chipmaker released a new chip for desktop and laptop devices that uses the company's advanced architecture for artificial intelligence chips.  

Getty Images jumped 46% to $3.77, and Shutterstock advanced 26.5% to $38.0 after the two companies announced a merger plan. 

After the $3.7 billion merger, Getty Images' chief executive will lead the combined company, and Shutterstock shareholders have one of three options, including $28.84 in cash per share. 

Ulta Beauty jumped 3.6% to $447.0 after the company revised higher its fourth quarter outlook, citing a better-than-expected holiday season. 

The specialty cosmetic retailer announced the retirement of chief executive Dave Kimbell after 11 years of leading the company, and current President and COO Kecia Steelman will take over the role. 

Inari Medical Inc. jumped 22% to $78.95 after a report suggested that the medical device company is in advanced talks to be acquired by Stryker for as much as $4.9 billion. 

The potential merger talk was reported by Reuters, citing people familiar with the discussion. 

Europe Movers: NEXT, Sodexo

The Euro Area inflation rebounded in December, after energy prices halted steep decline and food prices stabilized. 

The UK's home price index rose at a slower pace amid affordability issues. Italy's jobless rate dropped to a record low in December. 

The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65. 

The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.

NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025. 

The retailer said full-price sales in the nine-week holiday period to December 28 increased 6.0% from a year ago. 

For the full-year ending in January 2025, group's pre-tax earnings are estimated to increase 10% to 1.01 million and pre-tax earnings per share by 11.4% to 843.8 pence, compared to previous estimate of 839.3 pence. 

Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter. 

Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe. 

Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%. 

Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth. 

Europe Movers: NEXT, Sodexo

The Euro Area inflation rebounded in December, after energy prices halted steep decline and food prices stabilized. 

The UK's home price index rose at a slower pace amid affordability issues. Italy's jobless rate dropped to a record low in December. 

The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65. 

The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.

NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025. 

The retailer said full-price sales in the nine-week holiday period to December 28 increased 6.0% from a year ago. 

For the full-year ending in January 2025, group's pre-tax earnings are estimated to increase 10% to 1.01 million and pre-tax earnings per share by 11.4% to 843.8 pence, compared to previous estimate of 839.3 pence. 

Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter. 

Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe. 

Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%. 

Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth. 

Euro Area Inflation Accelerated and UK Home Price Growth Slowed In December

European markets lacked direction as investors reviewed the latest inflation updates and debated rate paths ahead of the policy meeting later this month. 

Benchmark indexes in Paris, Frankfurt, Milan, and London wavered around the flatline after the Euro Area inflation accelerated in December. 

Euro Area Inflation Accelerated for the Third Consecutive Month 

The consumer price index in the eurozone increased for the third month in a row in December to 2.4% from 2.2% in November, Eurostat reported Tuesday. 

The rebound in inflation was widely anticipated because of the base effects driven by the large decline in energy prices that are no longer available in energy prices. 

Inflation for food, alcohol, and tobacco was stable, but for energy and services, it accelerated and eased for non-energy goods. 

Inflation in Germany and France Diverged In December 

The annual inflation in France was unchanged at 1.3% in December from the previous month, France's statistical agency INSEE reported Tuesday. 

On Monday, Germany's statistical agency Destatis confirmed that the annual consumer price inflation accelerated to 2.6% in December, largely driven by the increase in energy prices. 

Italy's Jobless Rate Dropped to Record Low In December

The jobless rate in Italy decreased to 5.7% in December from 5.8% in the previous month, the National Institute of Statistics, or ISTAT, reported Tuesday. 

The jobless rate dropped to the lowest level since record keeping began in 1983. 

The number of people seeking jobs decreased by 24,000 to 1.46 million, the lowest since April 2007; the employment participation rate was unchanged at 66.3%, and the number of employed eased by 13,000 to 24.06 million. 

UK Home Price Growth Slowed In December 

UK home prices rose at the slowest pace in five months in December, and the average home price eased, Halifax and Bank of Scotland said in a report. 

The Halifax House Price Index increased 3.3% from a year ago in December, following a downwardly revised 4.7% increase in November. 

The average house price eased 0.2% from the previous month to £297,166, after rising for two consecutive months. 

"While the housing market has been supported in recent months by falling mortgage rates, income growth, and the announcement on upcoming stamp duty policy changes, mortgage affordability will remain a challenge for many, especially as the Bank Rate is likely to come down more slowly than previously predicted. 

However, providing employment conditions don’t deteriorate markedly from a more recent softening, buyer demand should hold up relatively well, and, taking all this into account, we’re continuing to anticipate modest house price growth this year,” said Amanda Bryden, Head of Mortgages, Halifax. 

Europe Indexes and Yields

The DAX index increased by 0.2% to 20,255.52; the CAC-40 index rose by 0.5% to 7,480.62; and the FTSE 100 index inched lower by 0.2% to 8,233.65. 

The yield on 10-year German bonds edged higher to 2.46%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds rose to 3.60%.

The euro edged higher to $1.043; the British pound inched up to $1.255; and the U.S. dollar eased to 90.51 Swiss cents.

Brent crude increased $0.38 to $76.67 a barrel, and the Dutch TTF natural gas fell by €0.79 to €46.40 per MWh. 

Europe Stock Movers

NEXT plc increased 3.8% to 9,916.0 pence after the specialty retailer reported strong sales in Christmas and raised its profit estimate for 2025. 

Sodexo SA dropped 8.4% to €72.55 after the French food services and facilities management company reported a weaker-than-expected increase in revenue in its fiscal first quarter. 

Organic revenue in the quarter ending in November increased 4.6% to Є6.4 billion, after higher sales in Australia, Brazil, and India were offset by the weakness in Continental Europe. 

Organic growth was impacted by a higher base due to the Rugby World Cup last year, partially offset by the Paralympics this year, and excluding these events, underlying organic growth in the first quarter was 4.9%. 

Organic growth was driven by a 3% price increase, and the remainder increase was supported by new business contribution and sales volume growth.