Markets Ease as Bank Earnings and Fed Uncertainty Bite
Markets are down in premarket trading after the S&P 500 pulled back from record highs, with investors digesting a fresh round of bank earnings. Financials remain under pressure following weak investment banking results from JPMorgan (JPM), while mixed prints from Wells Fargo (WFC) and Citigroup (C) added to sector volatility. Ongoing political pressure on Fed Chair Jerome Powell has also kept concerns around central bank independence in focus.
China Blocks Nvidia H200 Chip Imports Despite U.S. Approval
China’s customs authorities have told agents that Nvidia (NVDA) H200 AI chips are not allowed to enter the country, according to Reuters, despite no formal explanation or clarity on whether the move is temporary. The directive comes even after the Trump administration approved H200 sales to China under restrictions, including third-party testing and shipment caps. Chinese officials have sent mixed signals, with limited allowances suggested for research use, while some tech firms were earlier told to halt orders. The uncertainty clouds NVDA’s ability to fulfill reported Chinese demand of over 2M H200 chips.
Bank of America Tops Q4, Markets Unimpressed
Bank of America (BAC) fell more than -1.0% in premarket trading despite delivering a Q4 earnings beat, driven by higher net interest income and strong equities trading. EPS came in higher than expected, with revenue up +7% YoY to $28.5B, led by a +9.7% YoY rise in net interest income and +23% YoY growth in equities trading. Gains in those areas offset softer fixed income results, while management said consumer and business activity remains resilient. CEO Brian Moynihan reiterated optimism on U.S. economic growth heading into the new year, even as investors remained cautious on bank stocks.
Coca-Cola Reshapes Leadership for a Digital-First Era
Coca-Cola (KO) unveiled a broad leadership overhaul designed to sharpen consumer connection and speed its digital transformation. A new CEO will take the helm alongside the creation of a dedicated Chief Digital Officer role, signaling a stronger push to unify data, technology, and operations. Marketing and commercial leadership is being expanded, while global market oversight is reorganized to better focus on fast-growing international regions.
TCS and AMD Partner on Enterprise AI
India’s Tata Consultancy Services is joining forces with AMD (AMD) to help enterprises move AI beyond experiments and into real-world deployment. The partnership blends TCS’s industry expertise and global reach with AMD’s computing and AI platforms to modernize legacy systems and create secure digital workplaces. Together, they also plan to invest in talent, building teams that can co-create and deliver next-generation AI solutions at scale.
