On Wednesday, January 29th, U.S. markets closed lower, with tech shares weighing on the S&P 500. Nvidia and Microsoft declined after a tech selloff linked to Chinese AI competition. The Fed kept rates steady, softening its stance on inflation progress. Powell’s remarks reassured markets, but future rate cuts and economic policies remain uncertain.

In economic data, the U.S. trade deficit in goods rose to a record $122.11 billion in December, up from a revised $103.5 billion in November. Wholesale inventories dropped 0.5% to $898 billion, following a 0.1% decline the previous month, contrary to market expectations of a 0.2% increase.

Most S&P 500 sectors fell Wednesday, led by tech, real estate, and healthcare, while consumer staples and communication services gained.

The Dow Jones Industrial Average was down 0.31% and closed at 44,713.52, the S&P 500 closed lower by 0.47% at 6,039.31, and the Nasdaq Composite fell 0.51% to finish at 19,632.32.  

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Eurozone at 05:30 AM ET

• The European STOXX 50 was up 0.66%.
• Germany’s DAX rose 0.39%.
• France’s CAC gained 0.46%.
• U.K.’s FTSE index 100 traded higher by 0.29%.

Commodities at 05:30 AM ET

U.S. Futures at 05:30 AM ET

Dow futures were up 0.41%, S&P 500 futures gained 0.35% and Nasdaq 100 futures gained 0.46%.

Forex at 05:30 AM ET

The U.S. dollar index declined 0.01% to 107.96, the USD/JPY fell 0.46% to 154.45, and the USD/AUD rose 0.09% to 1.6059.

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