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U.S. Stocks Edge Up After Monday’s $1 Trillion DeepSeek Rout

U.S. Stocks Edge Up After Monday’s $1 Trillion DeepSeek Rout

Update: 2025-01-28

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Plus: U.S. consumers are losing confidence at the start of President Trump’s second term. General Motors says it has a “playbook” if the Trump administration imposes tariffs on Mexico and Canada. Anthony Bansie hosts.

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Transcript

00:00:00

Americans love using their credit cards.

00:00:02

The most secure and hassle-free way to pay, but DC politicians want to change that with the Durban Marshall credit card bill.

00:00:08

This bill lets corporate megastores pick how your credit card is processed, allowing them to use untested payment networks that jeopardize your data security and rewards.

00:00:18

Corporate megastores will make more money, and you pay the price.

00:00:21

Tell Congress to guard your card, because Americans lose when politicians choose.

00:00:27

Learn more at guardyourcard.com.

00:00:30

Here's your midday brief for Monday, January 28th.

00:00:35

I'm Anthony Bansi for the Wall Street Journal.

00:00:37

After yesterday's route of AI-related stocks, markets were calmer this morning.

00:00:42

Swinging stocks, including chip makers Nvidia and Broadcom, were wavering between modest gains and losses in morning trading, though not enough to make up for the previous session's losses.

00:00:52

Nvidia shares gained more than 1% in morning trading after a 17% crash yesterday.

00:00:57

The rebound suggests that some investors saw the sell-off yesterday as a buying opportunity.

00:01:02

Confidence among US consumers weakened for a second straight month, reflecting retreating optimism of both current and future conditions at the start of President Trump's second term,

00:01:13

and expectations that inflation will rise again.

00:01:15

According to the research group conference board, consumers sentiment fell nearly 5.5 points to a little above 104.

00:01:22

Despite following the index remained above the threshold that usually signals a recession ahead.

00:01:26

And General Motors shares fell around 11% in morning trading after the automaker reported a $2.9 billion quarterly loss.

00:01:35

GM had telegraphed the loss in December, saying it would incur a multi-billion dollar charge to get its business in China on solid footing, by closing plans and cutting its vehicle line up.

00:01:45

The company said it's taking steps to soften the blow of US tariffs on Mexico and Canada, including expediting vehicle imports from those countries, and strategizing ways to potentially build more pickup trucks domestically.

00:01:56

GM is among the most vulnerable automakers to tariffs, with more than the third of its US sales estimated to be produced in Mexico and Canada.

00:02:03

We'll have more coverage of the day's news on WSJ's What's News podcast.

00:02:07

You can add it to your playlist on your smart speaker, or listen and subscribe wherever you get your podcasts.

00:02:13

U.S. Stocks Edge Up After Monday’s $1 Trillion DeepSeek Rout

U.S. Stocks Edge Up After Monday’s $1 Trillion DeepSeek Rout

The Wall Street Journal

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