Beat the street: Global shares steady; US retail sales; Chinese Q4 growth; Chips; Goldman Sachs

Plus, China's military and government acquire Nvidia chips despite a US ban, showed a Reuters review of tender documents.

(AI Video Summary)

Significant updates despite today's pause on trading

In today's edition of "Beat the street," our host Angeline Ong talks about all the latest news and information that traders need to know before the market opens. However, because it's Martin Luther King Day, there won't be any trading happening on Wall Street or in Treasury. But don't worry, global stocks are holding steady as investors wait for some important data. We're talking about things like US retail sales, Chinese Q4 growth numbers, and UK inflation statistics. Plus, this week we've got big bank earnings from Goldman Sachs and Morgan Stanley to look forward to.

Stable market overview

Ong gives us a brief overview of what's happening in the market right now. She tells us that things are pretty stable with volatility at around 14.5. Basically, that means things aren't too crazy right now. Global markets are just taking a breather before all this important economic data comes out. She also talks about how some people think the US might cut interest rates and how that's been affecting the markets.

Important economic data incoming

But let's get into the juicy stuff. Ong starts by talking about all the economic data that investors are keeping an eye on. We've got retail sales, industrial production, and housing data coming up. All this information will give us clues about when and how much the US might cut interest rates. She also mentions the upcoming US presidential election and how that could impact the markets.

Mixed big banks earnings

Now, onto the banking world. Ong tells us that some of the big banks like JPMorgan, Citigroup, Wells Fargo, and Bank of America had mixed results. Two of them even announced job cuts. And speaking of big companies, she talks about Alcoa and Schlumberger and how their recent stock performance has been.

Other news updates

The video also touches on other interesting tidbits like the surge in US electricity demand, the ongoing tensions between China and Taiwan, and the recent quality checks on Boeing planes. Plus, did you know that Microsoft is now the world's most valuable company? They've surpassed Apple in market value. Ong looks into their stock performance too.