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Global stock markets delivered a fragmented performance on Tuesday as investors grappled with stagnant U.S. retail sales and a looming wave of delayed economic data.
While the Dow Jones managed a modest 0.4% gain, the tech-heavy Nasdaq dipped into the red following reports that consumer spending in December failed to grow.
The mood remains cautious ahead of a high-stakes Wednesday, which will see the release of non-farm payroll data originally delayed by a recent brief U.S. government shutdown.
In Europe, the picture was equally uneven. London’s FTSE 100 dragged lower, weighed down by a 6% drop in BP shares after the oil giant halted buybacks and reported falling profits.
Conversely, Paris saw a bright spot in luxury giant Kering, whose shares soared 11% after results surpassed expectations.
Meanwhile, Tokyo’s Nikkei 225 surged over 2% to a new record high, fuelled by optimism following Prime Minister Sanae Takaichi’s recent election victory and her mandate for fiscal expansion.
The tech sector continues to face a “whipsaw” effect as the initial euphoria surrounding artificial intelligence gives way to fiscal scrutiny.
Analysts noted that while heavyweights like Nvidia and Microsoft have led recent charges, investors are increasingly questioning when the massive capital expenditures in AI will translate into realised profits.
This scepticism, paired with warnings from the Trump administration regarding a softening labour market, has brought volatility back to the forefront of Wall Street.
Currency and energy markets also felt the chill of uncertainty. The U.S. dollar weakened against the yen, while Brent crude oil slipped toward $68 per barrel.
With inflation and employment figures due later this week, traders are bracing for further “winners and losers” to emerge as the Federal Reserve’s future interest rate path becomes clearer.
