U.S. Stocks Maintain Momentum Despite Tariff Concerns

After a week of gains, U.S. stocks opened slightly unchanged, poised to extend their rally for a second consecutive week. President Trump's recent statements, indicating a potential shift in tariff policy and a demand for lower interest rates and oil prices, have contributed to investor optimism.

Trump's Tariff Stance

Initially proposing 25% tariffs on Canada and Mexico earlier than planned, President Trump has since suggested a lower 10% duty on Chinese imports, significantly below his previous campaign proposal of 60%. This has eased concerns among investors, suggesting a less aggressive approach to tariffs.

Calls for Lower Interest Rates and Oil Prices

During his speech at the World Economic Forum in Davos, Trump urged global leaders to reduce interest rates and requested Saudi Arabia and other oil-producing nations to lower oil production costs. These statements have further fueled stock gains.

Market Performance

As of 10 AM ET, the S&P 500 rose 0.13% to 6,126.61, exceeding its previous closing high. The Dow Jones Industrial Average declined 0.31% to 44,428.44, while the Nasdaq Composite gained 0.22% to 20,098.27.

Corporate News

With tariff concerns temporarily waning, investors are now focused on company earnings reports. Notable developments include:

* Verizon's earnings exceeding expectations, driven by strong postpaid subscriber growth
* Novo Nordisk's shares soaring on positive results for its amycretin obesity drug
* Twilio's optimistic earnings outlook, leading to a 22% stock surge
* Texas Instruments' profit forecast falling short of analysts' estimates due to inventory challenges
* CSX shares dropping after reporting lower fourth-quarter results

Bitcoin's Fluctuations

Bitcoin prices continue to fluctuate after reaching record highs in anticipation of Trump's executive order on a national bitcoin reserve. While Trump has hinted at a more supportive stance towards the crypto industry, appointing crypto enthusiast Paul Atkins to the SEC, investors remain cautious as the promised reserve has not materialized.