Preview of US Stock Market | Three major stock index futures fell together, with the U.S. December CPI hitting tonight, and the first batch of financial reports released.

Pre-market Market Trends 1. In pre-market trading on Tuesday, January 13th, US stocks fell in pre-market trading, with futures for the three major US stock indexes all declining. As of the time of writing, Dow Jones futures were down 0.14%, S&P 500 index futures were down 0.15%, and Nasdaq futures were down 0.27%. 2. As of the time of writing, the Germany DAX index fell 0.10%, the UK FTSE 100 index fell 0.05%, the French CAC 40 index fell 0.54%, and the Euro Stoxx 50 index fell 0.07%. 3. As of the time of writing, WTI crude oil rose 2.14% to $60.59 per barrel, while Brent crude oil rose 1.72% to $64.97 per barrel. Market News After the government shutdown "pressed down" inflation in November, US December CPI may rebound to 2.7%. US December CPI data will be released at 21:30 Beijing time on Tuesday. The market currently expects US December CPI to increase by 2.7% year-on-year and by 0.3% month-on-month; core CPI is expected to increase by 2.7% year-on-year and by 0.3% month-on-month. Consumer prices in the US may accelerate in December. This is because the artificial suppression of inflation levels related to the government shutdown in November may have reversed in December. This situation further strengthens the market's expectation that the Federal Reserve will keep interest rates unchanged this month. The market currently widely expects that the Federal Reserve will keep the benchmark overnight rate in the range of 3.50% to 3.75% at the meeting scheduled for January 27th to 28th. Multiple central banks worldwide plan to jointly support Powell and back Fed independence. According to an informed source, after the Trump administration significantly escalated pressure on the Federal Reserve, officials from multiple central banks around the world are preparing to issue a joint statement to express support for Federal Reserve Chair Powell. The source stated that this joint statement is expected to be released under the name of the Bank for International Settlements (BIS) and will be open for all central banks to sign. The Trump administration's unprecedented legal threats to Powell have heightened concerns about political pressure undermining the Fed's independence, and raised alertness to long-term risks that monetary policy may no longer focus on inflation and economic growth, but be constrained by political demands. As a pillar of the global financial system, the Federal Reserve and the US dollar play a crucial anchoring role, which means that both verbal pressure and legal threats have a global impact. Trump's interest rate cap policy "leaves doubts"! Wall Street warns of triggering credit tightness and economic ripple effects. Wall Street analysts point out that Trump's policy of capping credit card interest rates at 10% may not only significantly impact the banking industry, but also extend to consumer-related industries such as aviation and retail, potentially pushing consumers to higher-cost financing tools such as new banks and payday loans. This may lead to a chain reaction in the market ecosystem. Meanwhile, card issuers may take multiple measures to offset the pressure imposed by interest rate caps, including raising fees, cutting consumer rewards, reducing operating expenses, and tightening credit limits. Especially if the policy is made permanent, these measures will become more significant. GEO Group Inc's risks may be just an episode? Goldman Sachs Group, Inc. issues warnings again: Supply wave continues, oil prices may bottom out in 2026. Goldman Sachs Group, Inc. analysts point out that while political risks in countries like Russia, Venezuela, and Iran may continue to cause oil price volatility, the oversupply of crude oil this year will likely lead to a downward trend in the market, possibly reaching a supply surplus of 2.3 million barrels per day by 2026. This means that unless there is a significant supply interruption or OPEC implements production cuts, oil prices will have to be lowered to slow down the growth of non-OPEC oil-producing countries and to boost demand steady growth to achieve market rebalancing. Goldman Sachs Group, Inc. predicts that Brent crude and WTI crude prices will reach an average of $56 per barrel and $52 per barrel this year, dropping to $54 per barrel and $50 per barrel in the fourth quarter, and then gradually rebounding to an average of $58 per barrel and $54 per barrel in 2027, due to steady demand and a slowdown in the growth rate of non-OPEC countries' supply. The precious metal bull market has not peaked! UBS Group AG boasts again: Silver may soar to three digits this year. Despite significant gains in silver in 2025, UBS Group AG, one of the world's largest wealth management institutions, predicts that silver will continue to rise in 2026. The bank's strategists forecast that silver prices may climb to $85 per ounce in just three months, and even reach historical highs in three digits within the year. Despite some views that silver is already overbought, analysts at UBS Group AG predict that supported by continued investment demand and other favorable factors similar to those in 2025, silver prices are expected to break through the three-digit mark for the first time in its trading history. The report states: "The gold-silver ratio may fall to 30-50 (as in the 1970-1980s), and silver prices are expected to reach three digits." Stock Market News Strict terms for Chinese customers spark discussion! NVIDIA Corporation (NVDA.US) clarifies: No prepayment required for purchase of H200 chips. Chip giant NVIDIA Corporation stated on Tuesday that the company does not require customers to make prepayments for purchasing H200 chips. A spokesperson for NVIDIA Corporation stated in a release that the company "will never require customers to pay for products they have not received." This statement was in response to a recent article in the media. The article pointed out that NVIDIA Corporation has imposed unusually strict terms on Chinese customers seeking to purchase its artificial intelligence chips, requiring full prepayment and prohibiting the cancellation of orders, refund requests, or changes in configuration after placing an order. The strict requirements from NVIDIA Corporation are mainly to guard against the risk of policy changes, as the company has not yet obtained approval to sell H200 chips in the Chinese market. JPMorgan Chase (JPM.US) rebounds after announcing earnings. The company's fourth-quarter non-GAAP earnings were $5.23 per share, exceeding expectations by $0.37. Revenue reached $46.77 billion (up 6.9% year-on-year), surpassing expectations by $520 million. Assets under management reached $4.8 trillion, up 18% year-on-year. Book value per share was $126.99, up 9% year-on-year; tangible book value per share was $107.56, up 11% year-on-year. The stock rose 1% in pre-market trading. Delta Air Lines, Inc. (DAL.US) plummets after announcing earnings. The company's fourth-quarter non-GAAP earnings were $1.55 per share, in line with expectations. Revenue reached $16 billion (up 2.8% year-on-year), surpassing expectations by $310 million. For the first quarter, revenue is expected to grow by 5% to 7% year-on-year. The stock fell 5% in pre-market trading. Eli Lilly & Company (LLY.US) weight loss drug Orforglipron set to be approved soon, company claims "prepared to meet demand". Eli Lilly's new weight loss drug Orforglipron is expected to be approved for market in the current quarter, with company executives stating that they are prepared to meet market demand. In November last year, Orforglipron received priority review status from the US Food and Drug Administration (FDA), significantly shortening the review period from the standard process of 10-12 months to only 1-2 months. Lilly officially submitted an application for the drug's market approval to the FDA in December. Daniel Skovronsky, Lilly's Chief Scientific and Medical Officer, stated in an interview, "We plan to launch the drug simultaneously in multiple countries around the world as soon as possible," and the company has invested billions of dollars in constructing production facilities for the new drug. "K drug" patent countdown, Merck & Co., Inc. (MRK.US) showcases a billion-dollar "muscle"! Hopes to trigger a wave of major acquisitions in the innovative drug sector. Merck & Co., Inc. hopes to achieve more large-scale transactions and emphasizes the identification of "significant acquisition opportunities" worth "tens of billions of dollars." The company's CEO, Rob Davis, recently stated, "We are not restricted by balance sheet constraints more about where we see strategic acquisition opportunities." This latest statement indicates that Merck & Co., Inc. is likely to accelerate its efforts to strengthen its pipeline of innovative drugs/biotechnology products through straightforward and decisive "acquisition spending" before the expiration of the "K drug (Keytruda)" patent. In recent years, Merck & Co., Inc. has been seeking to expand its therapeutic product portfolio through acquisitions, as the pharmaceutical giant prepares for the severe impact of patent expirations some analysts predict a potential erosion of $18 billion in sales in the next five years. AbbVie (ABBV.US) pledges to invest $100 billion in the US in exchange for tariff exemptions. AbbVie recently signed an agreement with the US government. Under the agreement, AbbVie will invest $100 billion in the US over the next ten years in domestic research and development projects, including drug production manufacturing. However, the specific rules for the use of this fund have not yet been responded to by the company. The statement also noted that AbbVie will lower drug prices in its medical assistance program and supply some drugs directly to patients through the "TrumpRx" official website launched by the Trump administration. In exchange, AbbVie will be eligible for tariff exemptions and exempt from future mandatory drug pricing policies. Important Economic Data and Events Forecast 21:30 Beijing time: US December CPI 23:00 Beijing time: US October Seasonally Adjusted Annual Total New Home Sales 01:00 Beijing time the next day: EIA Monthly Short-Term Energy Outlook Report Earnings Forecast Pre-market on Wednesday: Wells Fargo & Company (WFC.US), Citigroup (C.US), Bank of America Corp (BAC.US)