2026-01-14 11:37
LONDON, Jan 14 (Reuters) - By Marc Jones, global markets correspondent The news overload since the start of the year shows no sign of letting up, with markets starting to search for the motion sickness tablets. Sign up here. Donald's Trump's pledge to Iranian protestors that "help is on its way" has sent gold and silver to new highs. Meanwhile, the Supreme Court could rule on Trump's tariffs today, another trio of Wall Street banks is reporting earnings, and currency markets are back on yen-intervention watch as the prospect of a snap election next month turbocharges the so-called "Takaichi trade". Finally, U.S. retail sales arrive just as Saks Fifth Avenue's owner files for bankruptcy. I’ll get into all that and more below. But first check out Mike Dolan’s latest column on some of the contradictions in the Trump administration's plans to make buying a house more affordable. Today's Market Minute * High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday in one of the largest retail collapses since the pandemic. * Tehran has warned U.S. allies in the Middle East it will strike U.S. bases on their soil if Washington attacks Iran, a senior Iranian official told Reuters on Wednesday. * China posted a record trade surplus of nearly $1.2 trillion in 2025 amid soaring exports to non-U.S. markets in Southeast Asia, Africa and Latin America. * President Donald Trump’s bid to ignite American industry with cheap oil and gas is a high‑stakes gamble that, win or lose, will leave China the world’s leading low‑carbon technology powerhouse, argues ROI Energy Columnist Ron Bousso. * Meta's 2025 acquisition of Manus, a Chinese-founded AI startup, challenges the widespread narrative of US-China tech decoupling and could signal a new modus operandi in AI’s future focused on talent acquisition, writes Fidelity International’s Taosha Wang. SHOP TILL YOU DROP The myriad of geopolitical tensions has propelled silver to $90 per ounce for the first time - the metal has surged nearly 30% in the first nine trading days of the year. Gold prices have also climbed to yet another record, with $5,000 an ounce the next obvious target for traders to fixate on. In addition to concern over the next steps in Iran, there are talks later in the day involving the foreign ministers of Greenland and Denmark and U.S. Vice President JD Vance alongside Secretary of State Marco Rubio at the White House. Trump's son-in-law Jared Kushner and envoy Steve Witkoff plan to travel to Moscow soon to meet Russian President Vladimir Putin, according to reports. For Wall Street, Citigroup, Bank of America, and Wells Fargo are all reporting earnings. S&P 500, Nasdaq and Dow futures prices are fractionally lower right now, and it has been a bit of a tough run for financials this week. Trump's proposal to cap credit card interest rates at 10% has sent plenty of share prices lower, while the biggest of the big guns, JPMorgan, suffered a more than 4% tumble on Tuesday as its investment banking fees caused disappointment. Elsewhere, investors have mostly looked past China reporting a record trade surplus of nearly $1.2 trillion in 2025, led by booming exports to non-U.S. markets. Focus has been heavily on the yen instead, with Japan's finance minister sending another explicit intervention warning after the currency hit an 18-month low as a weak bond sale compounded the pressure of the snap election. And to round things off, there's a packed schedule of Federal Reserve speakers later, including Philadelphia Fed President Anna Paulson, Trump appointee Stephen Miran, Minneapolis Fed's Neel Kashkari, Atlanta Fed's Raphael Bostic and the New York Fed's John Williams. That could all make very interesting viewing after this week's move by the Trump administration to investigate Fed chief Jerome Powell over the costly refurbishment of the central bank's headquarters. Chart of the day High-end department store conglomerate Saks Global filed for bankruptcy protection late on Tuesday in one of the largest retail collapses since the Covid-19 pandemic - and barely a year after a deal that brought Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus under one debt-laden roof. While Saks - which opened its doors in 1867 - may have once been a favourite of the rich and famous, from Gary Cooper to Grace Kelly, the internet age has seen sales at U.S. department stores roughly halve over the last 25 years. Today's events to watch Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles , opens new tab, is committed to integrity, independence, and freedom from bias. Want to receive the Morning Bid in your inbox every weekday morning? Sign up for the newsletter here. https://www.reuters.com/business/finance/global-markets-view-usa-2026-01-14/
2026-01-14 11:24
Jan 14 (Reuters) - Canadian Natural Resources (CNQ.TO) , opens new tab is in talks to buy a $1-billion-plus portfolio of natural gas properties from Tourmaline Oil Corp (TOU.TO) , opens new tab, Globe and Mail reported on Wednesday, citing two sources familiar with the negotiations. Competition Bureau Canada's website indicates that Canadian Natural had filed the paperwork for approval of a transaction with Tourmaline on December 30, but details of the potential deal had not been disclosed publicly. Sign up here. Tourmaline is among the biggest natural gas producers in Canada's prolific Montney basin, a massive shale play that is already a hotbed of M&A activity as Canadian producers prepare to increase supply for the country's LNG export industry. The region produces about 10 billion cubic feet per day of natural gas, about 50% of Canada's total output. Canadian Natural, the country's biggest shale producer, is seeking preliminary regulatory feedback on a potential acquisition of the Tourmaline assets in the Montney basin located in Alberta's Peace River region, Globe and Mail said. Canadian Natural and Tourmaline did not immediately respond to requests for comment. https://www.reuters.com/business/energy/canadian-natural-talks-buy-tourmalines-natgas-portfolio-globe-mail-reports-2026-01-14/
2026-01-14 11:24
LONDON, Jan 14 (Reuters) - Economic confrontation between nations and its consequences topped the World Economic Forum's (WEF) annual risks perception survey released on Wednesday, replacing armed conflict as the number one concern of 1,300-plus experts surveyed worldwide. The survey also showed perceptions of environmental risk slipping down the rankings while other concerns came to the fore - notably fears over the long-term consequences of weak governance of artificial intelligence. Sign up here. Saadia Zahidi, managing director of the WEF annual gathering in Davos due to start next week, cited rising tariffs, checks on foreign investment and tighter supply controls on resources like critical minerals as examples of "geoeconomic confrontation", which ranked as the top risk. "(It is) when economic policy tools become essentially weaponry rather than a basis of cooperation," she told an online press conference. U.S. President Donald Trump's "America first" policies have led to a sharp rise in U.S. trading tariffs across the world and fed into tensions between the U.S. and China, which is dominant in critical minerals and the world's second largest economy. Perceived risks around extreme weather over the next two years dropped from 2nd to 4th place and pollution from 6th to 9th. Anxiety over critical change to earth systems and biodiversity loss fell seven and five positions respectively. However, when asked what their sharpest concerns were over a longer, 10-year period, those same respondents ranked such environmental concerns in the top three spots. Anxiety about "adverse outcomes of AI technologies" ranked 30th place in the two-year horizon but 5th place in the 10-year horizon. Zahidi said the survey revealed that most of the concerns focused on how insufficient governance around AI could harm jobs, society and mental health while seeing it increasingly being used as a weapon in warfare. The WEF said its annual survey draws on responses from "over 1,300 global leaders and experts from academia, business, government, international organizations and civil society". https://www.reuters.com/business/davos/economic-confrontation-replaces-armed-conflict-top-risk-wef-survey-2026-01-14/
2026-01-14 11:24
MOSCOW, Jan 14 (Reuters) - Russian Foreign Minister Sergei Lavrov said on Wednesday that Russia was open for peace talks on Ukraine but that talk of a ceasefire ahead of a full peace deal was simply not serious. Asked about a Bloomberg report that White House envoy Steve Witkoff and U.S. President Donald Trump's son-in-law Jared Kushner are seeking to travel to Moscow to meet Russian President Vladimir Putin, Lavrov said that Putin had repeatedly said he is open to serious discussions about peace in Ukraine. Sign up here. It would, Lavrov said, be helpful if Washington briefed Moscow on the latest peace proposals for Ukraine. https://www.reuters.com/world/europe/russia-says-talk-ceasefire-rather-than-full-peace-deal-ukraine-is-simply-not-2026-01-14/
2026-01-14 11:05
FTSE 100 up 0.3%, FTSE 250 down 0.4% Precious metal miners lead gains as gold hits record high AstraZeneca to acquire Modella AI, shares up 2.3% Pearson falls after losing New Jersey contract BoE's Taylor expects interest rates to fall as inflation cools Jan 14 (Reuters) - The UK's FTSE 100 scaled a record high on Wednesday, powered by gains in mining and healthcare stocks, while education company Pearson (PSON.L) , opens new tab fell after losing a New Jersey contract. The blue-chip FTSE 100 (.FTSE) , opens new tab was up 0.3% as of 1010 GMT, following a subdued session the previous day. The domestically focused mid-cap index (.FTMC) , opens new tab was down 0.37%. Sign up here. The precious metals and miners index (.FTNMX551030) , opens new tab climbed 1.9% after gold prices jumped 1% to $4,632.03 per ounce, buoyed by softer U.S. inflation data that reinforced expectations of interest rate cuts by the Federal Reserve and stoked demand for safe-haven assets amid geopolitical uncertainty. "A more interventionist Donald Trump who is pressuring the Fed, demanding corporations do as he wishes, and plans to take Greenland are all driving flows into the relative safety of gold," said Kathleen Brooks, research director at XTB. Separately, Bank of England policymaker Alan Taylor said UK interest rates should keep falling as inflation is on track to hit the 2% target by mid-2026, earlier than previously forecast. London-listed miners rose, with Antofagasta (ANTO.L) , opens new tab, Rio Tinto (RIO.L) , opens new tab and Glencore (GLEN.L) , opens new tab gaining between 1.1% and 2.1%, boosted by higher copper prices. The pharmaceutical index (.FTNMX201030) , opens new tab also advanced, up 1.6%, helped by heavyweight AstraZeneca (AZN.L) , opens new tab after the drugmaker agreed to buy Boston-based Modella AI, as the industry increasingly uses artificial intelligence to speed up drug discovery. Capping gains on the FTSE 100, the media index (.FTNMX403010) , opens new tab slipped 2.8%, dragged by an 8% drop in Pearson (PSON.L) , opens new tab, the benchmark's worst performer. The British education company reported that its biggest division, Assessment & Qualifications, lost a contract with New Jersey, which will be a headwind in the first half of 2026. BP (BP.L) , opens new tab fell 1.3% after the oil major said it expects to book $4 billion to $5 billion in fourth-quarter impairments, mainly tied to its energy transition businesses. https://www.reuters.com/world/uk/londons-ftse-100-touches-fresh-peak-miners-healthcare-gain-pearson-drops-2026-01-14/
2026-01-14 08:48
LONDON, Jan 14 (Reuters) - Interest rates set by the Bank of England should continue to fall as inflation is likely to settle around the central bank's 2% target soon, BoE policymaker Alan Taylor said on Wednesday. "We can now see inflation at target in mid-2026, rather than having to wait until 2027 as in our previous projection," Taylor said in the text of a speech he was due to give at the National University of Singapore. Sign up here. "I see this as sustainable, given cooling wage growth, and I now therefore expect monetary policy to normalise at neutral sooner rather than later....Interest rates should continue on a downward path, that is if my outlook continues to match up with the data, as it has done over the past year." Taylor was part of a five-strong majority on the central bank's Monetary Policy Committee that approved a cut in the BoE's benchmark interest rate to 3.75% from 4% in December. The other four MPC members favoured no change to borrowing costs. BoE Governor Andrew Bailey has said inflation - which stood at 3.2% in its most recent reading - could fall to around 2% in April or May this year. Investors are close to pricing two further quarter-point rate cuts by the BoE in 2026. In his speech on Wednesday, Taylor focused on the outlook for global trade which he expected to recover in the long run from shocks in recent years including U.S. President Donald Trump's import tariffs, helping to reduce inflation pressures. "Smoother international trade is, at the end of the day, a positive supply shock – for those countries who choose to participate, at least," he said. https://www.reuters.com/world/uk/bank-englands-taylor-says-rates-set-fall-further-inflation-drops-2026-01-14/
