Stocks tumble as traders cast doubt on 2025 rate cut

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Stocks tumble as traders cast doubt on 2025 rate cut. 📊 Global stocks fell on Monday, while the dollar hit 26-month peaks following a bumper U.S. jobs report that prompted investors to question if interest rates will fall at all this year, just as earnings season is about to get underway. Reuters reports.

🚫 ChipLock: The U.S. government said on Monday it would further restrict artificial intelligence chip and technology exports, divvying up the world to keep advanced computing power in the U.S. and among its allies while finding more ways to block China’s access. CNBC reports.

🔒 TikTockBan: The Supreme Court seemed inclined on Friday to uphold a law that would force a sale or ban the popular short-video app TikTok in the United States by January 19, with the justices focusing on the national security concerns about China that prompted the crackdown. Reuters reports.

🌏 ChinaSlip: Apple is losing market share in China due to declining iPhone shipments, supply chain analyst Ming-Chi Kuo wrote in a report on Friday. The stock slid 2.4%. CNBC reports.

⚡ ChipPower: Taiwan Semiconductor Manufacturing has begun producing advanced four-nanometer chips for U.S. customers in Arizona, Commerce Secretary Gina Raimondo told Reuters, a milestone in the Biden administration's semiconductor efforts. Reuters reports.

↗️ StellarTurn: Stellantis’ top priority for the U.S. this year is to grow its retail market share after several years of declining sales in its largest, most crucial market. CNBC reports.

⚔️ OpenFight: U.S. antitrust enforcers weighed in on Friday on Elon Musk's lawsuit seeking to block OpenAI's conversion to a public company, pointing out legal doctrines that support his claim that OpenAI and Microsoft engaged in anticompetitive practices. Reuters reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Benzinga reports.

1. $:ATCP: Agape ATP
Total gain: 53.96%

2. $:SAGE: Sage Therapeutics
Total gain: 38.73%

3. $:GCTK: GlucoTrack
Total gain: 34.78%

4. $:XHG: XChange Tec
Total gain: 32.74%

5. $:ITCI: Intra-Cellular Therapies
Total gain: 30.7%

The closing price of the top three market percent gainers trading near or above $3 on January 10.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1. $WKEY: Wisekey International Holding
Total gain: +54.33%
SEALSQ, in collaboration with its parent company WISeKey International Holding, will organize a thought-provoking roundtable on January 22, 2025, in Davos, focused on "Cybersecurity in a Post-Quantum AI Era: What Happens When You Mix Generative AI with Quantum Computing?". Benzinga reports.

2. $DATS: DatChat
Total gain: +52.18%
The stock appeared to be moving on no notable news.

3. $BNRG: Brenmiller Energy
Total gain: +30.43%
The stock appeared to be moving on no notable news.

Time (ET) / Report / Period

2:00 pm - Monthly U.S. federal budget - December

"The lesson for the individual investor is clear: the only way to beat the market is to start by owning it."

― Burton G. Malkiel

Sourced in:
"A Random Walk Down Wall Street.’’, by Burton G. Malkiel, published in 1973.