Noon Market Summary: Trump Retracts Tariffs, S&P 500 Rises 0.55%; Ledger Eyes $4B IPO as Commodities Surge

The U.S. market delivered a mixed performance at noon, with energy and materials sectors surging while financials and industrials faltered. The Dow Jones Industrial Average fell 209 points (-0.43%) to 49,170.09, while the S&P 500 edged up 1.63 points (+0.24%) to 6,929.78 and the Nasdaq Composite gained 147 points (+0.63%) to 23,582.40. Commodities outperformed equities, with WTI crude oil rising 2.4% to $60.80, copper up 2.99% to $5.95, and silver surging 3.59% to $99.835. Energy (+1.18%) and Materials (+0.72%) led sector gains, while Financials (-1.03%) and Industrials (-0.38%) lagged. Market sentiment remains split, with geopolitical uncertainty and corporate earnings driving divergent trends.

Hot Stocks

Tech Giants: Microsoft (MSFT): +3.45%; Meta (META): +1.85%; Amazon (AMZN): +1.75%; Nvidia (NVDA): +1.70% Energy & Materials: Ericsson (ERIC): +9.45%; Fortinet (FTNT): +5.98%; Maxeon Solar (MAXN): +26.35%; Gold Resource (GORO): +22.18% Small-Cap Movers: Movano (MOVE): +180.63%; Direct Digital (DRCT): +80.35%; Brand Engagement (BNAI): +72.40%; TryHard (THH): +60.71%

Macro & Corporate & Global Narrative

1. Trump Retracts Greenland Tariff Threats, Easing Market Fears

President Trump’s reversal of proposed 10% tariffs on European imports lifted the S&P 500 by 0.55% as investors unwound hedging strategies. Analysts noted the realized tariff rate (~11%) remains below earlier fears (15%), though long-term policy uncertainty persists.

2. EU Suspends $109 Billion Retaliatory Tariff Package Against U.S.

The European Commission paused its $109.19 billion trade retaliation plan for six months, aligning with Trump’s tariff retraction. The move avoids immediate market volatility but leaves room for future escalation if tensions resurface.

3. Ledger Files for $4 Billion U.S. IPO, Tripling 2023 Valuation

French crypto wallet firm Ledger, backed by Goldman Sachs and Barclays, plans a $4 billion NYSE listing. The IPO follows recent breaches and rising demand for secure crypto storage, signaling growing institutional interest in the sector despite regulatory risks.

4. U.S. Business Activity Edges Up, Hiring Remains Weak

January’s S&P Global flash composite output index rose to 52.8 (expansion), but payroll growth near zero and input costs above Fed targets kept rate-cut expectations muted. Weak hiring in manufacturing and services sectors underscored fragile economic momentum.

5. Private Credit Sector Faces Meltdown Risks Amid Deregulation

A $4.9 trillion private credit market faces scrutiny as opaque lending practices and rising defaults emerge. Experts warn of systemic risks if underwriting standards weaken further, with lenders like Blackstone and KKR trading below recent highs.

6. Dollar Hits 3-Week Low Amid ‘Policy Nightmare’ Concerns

The U.S. dollar fell to a three-week low as political uncertainty and erratic policymaking overshadowed economic data. The Bloomberg Dollar Spot Index is set for its worst weekly performance since June, with analysts labeling the environment a “policy nightmare” for global markets.