Source: Caixin News
On Tuesday Eastern Time, the US stock market opened high and went low, with the three major indexes showing mixed results. $Nasdaq Composite Index (.IXIC.US)$ It declined for the fifth consecutive trading day. $Dow Jones Industrial Average (.DJI.US)$ and $S&P 500 Index (.SPX.US)$ It closed slightly higher.

(Three major index minute chart, source: TradingView)
At the close, the Dow Jones Industrial Average rose 0.52% to 42,517.79 points; the S&P 500 Index rose 0.11% to 5,842.86 points; the Nasdaq fell 0.23% to 19,044.39 points.
Technology stocks continued to fall, with investors flocking to Utilities, Financials, and Materials, all of which saw gains of over 1%.
Data released on Tuesday showed that the PPI in the USA rose 3.3% year-on-year in December, compared to an estimate of 3.5% and a previous value of 3%; the PPI in the USA rose 0.2% month-on-month in December, compared to an estimate of 0.4% and a previous value of 0.4%.
The December PPI data, which was below expectations, briefly boosted market sentiment, but positive feelings faded as investors assessed the report. For investors, the December PPI data was not all good news, as prices in certain key areas (such as airfare) rose significantly.
A more important inflation report — the December CPI data — will be released on Wednesday. CFRA Research Chief Investment Strategist Sam Stovall stated: 'If the CPI data comes in higher than expected, it will definitely be bad news for the stock market, as it means the Federal Reserve will indeed slow down the pace of interest rate cuts.'
The CME Group's Federal Reserve rate monitoring tool shows that the market expects the Federal Reserve to keep interest rates unchanged this month with almost certainty, and the probability of remaining steady in March is 78%.
Eli Lilly and Co shares fell 6.6% on Tuesday, marking the worst single-day performance since March 2021, as the company predicted weak sales for weight-loss drugs in the fourth quarter.
Performance of Popular Stocks
All major US Tech Giants suffered declines, with Apple down 0.48%, Microsoft down 0.36%, NVIDIA down 1.10%, Google down 0.71%, Amazon down 0.32%, Meta down 2.31%, and Tesla down 1.72%.
China Concept Stocks collectively rose, with the Nasdaq China Golden Dragon Index up 2.10%, Alibaba up 1.42%, JD.com up 4.04%, PDD Holdings up 2.24%, NIO up 0.49%, XPeng up 6.77%, Li Auto up 2.81%, Bilibili up 3.42%, Baidu up 1.79%, NetEase up 1.89%, Tencent Music up 1.65%, and iQIYI up 1.09%.
After a steep drop on Monday, Quantum Computing stocks made a significant rebound, with Rigetti Computing closing up about 48% on Tuesday, D-Wave Quantum up 23.5%, Quantum Computing up nearly 14%, and Qanta up over 7%.
Company news
[Meta plans to lay off 5% of low-performing employees]
Internal memorandums indicate that Meta is planning to reduce about 5% of low-performing employees and intends to fill their positions again this year. CEO Zuckerberg stated in the memorandum that the decision is to raise the standards of performance management and to more quickly eliminate underperforming employees. The memorandum shows that the company expects that by the end of the current performance cycle, 'non-regrettable' natural reductions will reach 10%, including about 5% of non-regrettable natural reductions in 2024. This means that the goal is to have about 5% of the current employees depart. Zuckerberg noted that the company will 'offer generous severance packages.'
[UK regulators to investigate Google's search services]
According to the new digital market competition system effective from January 1, 2025, the Competition and Markets Authority (CMA) of the United Kingdom launched its first investigation into 'Strategic Market Status' (SMS) on January 14. The investigation will assess Google's position in the search and search advertising services sector, as well as its impact on Consumers and Institutions (including advertisers, news publishers, and competing Search Engines).
[Toyota Requires North American Employees to Work in the Office 4 Days a Week]
Toyota Motor will require its employees in North America to return to the office four days a week starting in September, hoping to enhance interaction and improve work efficiency. This change will apply to all salaried employees of Toyota Motor's North American operations and Toyota Financial Services North America, with some job positions being exceptions. Toyota Motor stated that failure to comply with the rules could result in termination.
[JPMorgan Appoints Piepszak as Chief Operating Officer; Pinto to Retire in 2026]
JPMorgan has appointed Jenn Piepszak as its new Chief Operating Officer, marking the second adjustment in senior management within a year for the largest bank in the USA. Although the 54-year-old Piepszak took over the company's second-highest position from Daniel Pinto, who will retire at the end of next year, she ruled out the possibility of succeeding CEO Jamie Dimon.
Spokesman Joe Evangelisti stated that Piepszak "does not currently want to be considered as a candidate for CEO succession." "She clearly prefers to take on a senior operational role, working closely with Jamie, and supporting future top leadership."
编辑/jayden