
- Moving the market
Stocks opened lower for the second straight day, pulling back further from recent record levels as traders chewed on a fresh batch of earnings reports and kept one eye on geopolitical headlines.
Wells Fargo was a big laggard, dropping more than 5% after posting weaker-than-expected Q4 revenue. Bank of America and Citigroup slipped too—even though they beat estimates—because the results weren’t strong enough to keep the market excited near all-time highs.
That added to their pain from Trump’s Friday call for credit card interest rate reform; Wells and BofA are both down roughly 7% for the week, Citigroup more than 6%.
Geopolitical noise didn’t help either: oil rose for a fifth day on worries about supply disruptions from civil unrest in Iran (a key OPEC player) and rising U.S.-Iran tensions. Plus, crunch talks are happening today between the Trump administration and officials from Greenland and Denmark over U.S. control of the territory.
By the close, those pressures kept the major indexes in the red, with the Nasdaq taking the hardest hit, the Dow holding up best, and small caps managing a small green finish.
The real bright spot?
Commodities kept shining. Silver exploded over 7% to punch through $92, gold flirted with all-time highs and closed above $4,600, copper added a solid +1.6%, and Bitcoin finally joined the party, climbing to a two-month high of $97.5K and eyeing $100K.
The commodity sector continues to steal the show almost every day—definitely the place to be right now.
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