stock market

The S&P 500 index of the US stock market closed higher on Thursday, boosted by gains from Nvidia, Apple, and Tesla, after US President Trump announced a roadmap for imposing equivalent tariffs on US trading partners.

A White House official stated that Trump's economic and trade team is studying bilateral tariffs and trade relations, which will be matched with higher tariffs imposed by other countries and may be implemented within weeks. After data showed that US producer prices rose in January, and key factors in the core personal consumption expenditure (PCE) index closely tracked by the Federal Reserve rose or fell moderately, the stock market saw an increase. The constituent elements including doctor's office and hospital prices are either basically unchanged or slightly increased. The weight of healthcare in core PCE is close to 20%, a decrease of 0.06%.

After the report was released, the yield on 10-year US Treasury bonds fell sharply, indicating that investors are increasingly confident in the cooling of inflation.

Tesla surged 5.9%; Nvidia climbed 3.2%; Apple rose 2%, making the S&P 500 index slightly lower than the closing record high set on January 23.

Jack Ablin, Chief Investment Officer of Cresset Capital, said: Stock investors are taking inspiration from the bond market, and investors are also preparing for alarming high inflation figures based on tariffs. "

According to the FedWatch tool of the Chicago Mercantile Exchange (CME), the trend of the interest rate futures market indicates that traders expect the Federal Reserve to make a 25 basis point rate cut before the end of 2025. Another report showed that the number of new Americans applying for unemployment benefits decreased last week.

Chevron's stock price rose 0.6% after the oil giant announced plans to lay off up to 20% of its workforce worldwide by the end of 2026.

King City

Gold prices rose on Thursday as US President Trump announced plans to impose equivalent tariffs on US imports, exacerbating global trade concerns.

Spot gold rose 0.4% to $2915.76 per ounce, rebounding from Tuesday's historic high of $2942.70. US futures closed 0.6% higher at $2945.40. On Thursday, Trump unveiled a roadmap for imposing equivalent tariffs on every country that imposes tariffs on American imports.

The steady growth of producer prices in the United States in January further proves the rise in inflation and strengthens financial market expectations that the Federal Reserve will not cut interest rates until the second half of the year.

Jeffrey Christian, Managing Partner of CPM Group, said, "The main factors are political uncertainty and economic consequences. PPI is basically neutral, and its impact on gold is actually not significant. Global investors are concerned about the impact of Trump's policies on the overall economy." Federal Reserve Chairman Powell reiterated at the second congressional hearing this week that he is not in a hurry to cut interest rates.

Spot silver fell 0.2% to $32.15 per ounce. Platinum fell 0.1% to $991.25; Palladium rose 1.6% to $989.50.

Oil market

Oil prices closed relatively flat on Thursday, dropping more than 1% earlier. The United States announced that tariffs will be delayed until at least April, bringing hope to the world to avoid trade tensions that will put pressure on the economy and energy demand.

The settlement price of Brent crude oil futures was $75.02 per barrel, down 0.21%. US crude oil futures closed at $71.29 per barrel, down 0.11%. Oil prices fell sharply earlier after a potential peace agreement between Russia and Ukraine raised concerns among traders that ending sanctions on Moscow would increase global energy supply.

US President Trump has ordered business and economic officials to study the issue of countries imposing equivalent tariffs on US goods. Market participants have stated that they will not be able to provide recommendations until April 1st, which will give them more time to negotiate with trading partners.

Phil Flynn, Senior Analyst at Price Futures Group, said that we have seen a significant rebound in prices due to tariffs not taking effect until April, which will leave time for negotiations.

Two major indicators of crude oil fell more than 2% on Wednesday, following Trump's statement that Russian President Putin and Ukrainian President Zelensky expressed their desire for peace over the phone. Trump orders US officials to start negotiations on ending the Ukraine war.

The International Energy Agency (IEA) stated in its latest oil market report that if a flexible solution can be found to address the latest US sanctions, Russian oil exports may continue, as the country's crude oil production slightly increased last month. The increase in US crude oil inventories has also had an impact on the market. The data released by the US Energy Information Administration (EIA) on Wednesday showed that the increase in US crude oil inventories last week exceeded expectations.

currencies

The US dollar fell on Thursday after parts of the January producer price report pointed to lower inflation levels, and further declined after the White House stated that it would not immediately impose equivalent tariffs on other countries.

The producer price data on Thursday showed that the core personal consumption expenditure (PCE) data - a measure of the Fed's preference - may be lower than previously expected for January when it is released later this month. Although the increase in producer prices exceeded economists' expectations.

Noel Dixon, Global Macro Strategist at State Street Global Markets, said: 'Some of the sub data indicate that PCE may not be as hot as CPI suggests.'. Prior to the release of the producer price report, the January consumer price index released on Wednesday was much higher than expected, leading traders to anticipate a decrease in interest rate cuts this year.

At present, futures traders are pricing a rate cut of about 33 basis points before the end of December, higher than the 29 basis points before Thursday's data release, but lower than the 37 basis points before Wednesday's consumer price index data release.

The personal consumption expenditure price index will be released on February 28th. After the data was released on Thursday, economists at Morgan Stanley lowered their forecast for the core PCE increase in January from 0.4% to 0.3%.

The US dollar index fell 0.61% on the day, to 107.25 points, the lowest point since January 27th. The euro rose 0.58% to $1.0442, previously reaching $1.0446, the highest since January 30th. The Japanese yen appreciated by 1.05% against the US dollar to 152.8 yen.

After US President Trump announced that he would impose equivalent tariffs on all countries that impose tariffs on US imports, the US dollar briefly narrowed its decline against the Japanese yen before falling to even lower levels.

A White House official told reporters that tariffs will not take effect on Thursday, but as Trump's economic and trade team studies bilateral tariffs and trade relations, tariffs may begin to be imposed within a few weeks. This announcement seems to be at least partially aimed at triggering negotiations with other countries. The official said that if other countries lower tariffs, Trump would be very willing.

The euro and other European currencies, including the Swiss franc, Swedish krone, and Norwegian krone, were also boosted by optimism about a possible peace agreement between Russia and Ukraine.

On Wednesday, Trump discussed the issue of the Ukrainian war in phone conversations with Russian President Putin and Ukrainian President Zelensky, marking the first diplomatic step taken by the newly elected US president towards his promise to end the war.

After data showed that the UK economy unexpectedly grew by 0.1% in the last quarter of last year, the pound rose. The pound rose 0.8% in late trading to $1.2541.

international news

Federal Reserve Messenger: Weak PPI in Some Areas May Affect January Core PCE

Federal Reserve Messenger Nick Timiraos: Due to the weak performance of the PPI component that makes up the PCE index (financial and healthcare services sub items) in January, the monthly rate of the US core PCE index in January is expected to be much lower than yesterday's significant increase in CPI monthly rate. If the core PCE increases by 0.27% month on month in January, it will reduce the annual rate of core PCE from 2.8% to 2.6%.

Trump prepares to adjust funding conditions for US chip bill

Sources indicate that the White House is seeking to renegotiate funding for the U.S. Chip and Science Act and has hinted at delaying some upcoming semiconductor grants. It is reported that the new government is reviewing projects that have received funding under the 2022 bill, which aims to boost domestic semiconductor output in the United States through $39 billion in subsidies. Washington plans to renegotiate some agreements after evaluating and adjusting current requirements.

Trump: Ukraine will participate in all peace talks with Russia

US President Trump has stated that Ukraine will participate in all peace negotiations with Russia. Earlier on the 13th, Ukrainian President Zelensky stated that he does not accept any bilateral peace talks without Ukraine's participation, and that European partners should also be present at the negotiating table. Russian Presidential Press Secretary Peskov also stated earlier on the 13th that Russia sees the United States as its main rival in the Ukraine negotiations. Peskov said that Ukraine will definitely participate in peace negotiations in some way, but there will be a separate bilateral negotiation mechanism between the United States and Russia.

Ukraine increases imports of natural gas from Hungary and Slovakia

Affected by sustained cold weather and other factors, Ukraine's natural gas reserves are rapidly declining. Ukraine imports natural gas from EU member states, mainly Hungary and Slovakia. According to data from Ukraine's natural gas pipeline operator, the country's natural gas imports increased by 10% on the 13th compared to the previous trading day, climbing to 10 times the amount imported in early February. Ukraine imported 9.8 million cubic meters of natural gas on that day from Hungary, 11.6 million cubic meters from Slovakia, and 3.5 million cubic meters from Poland. Previously, Ukrainian Energy Minister German Galushenko stated that during the current heating season, Ukraine needs to import over 1 billion cubic meters of natural gas. Ukrainian Foreign Minister Serbiga stated that Ukraine can purchase liquefied natural gas from the United States. (CCTV)

Peskov: Putin and Trump's meeting requires weeks or even months of preparation

On February 13th local time, Peskov, the press secretary of the Russian President, stated that Russia sees the United States as its main opponent in the negotiations on the Ukraine issue. Peskov said that Ukraine will definitely participate in peace negotiations in some way, but there will be a separate bilateral negotiation mechanism between the United States and Russia. Peskov said that it is too early to talk about when Putin and Trump will visit each other, and the meeting between Putin and Trump will require weeks or even months of preparation. Peskov also revealed that Putin and Trump mentioned in a phone conversation that Riyadh, Saudi Arabia may be the location for a face-to-face meeting between the two sides. (CCTV)

Associated Press journalist banned from entering White House, White House press secretary questioned for not changing 'Gulf of Mexico' statement

On his first day in office, US President Trump signed an executive order unilaterally renaming "Gulf of Mexico" to "Gulf of America". On the 12th, Associated Press reporters were once again denied access to an event in the White House Oval Office due to their refusal to change their name as required by the executive order. The day before, two Associated Press journalists were banned twice from attending events at the White House. At the White House press conference on the 12th, the White House press secretary was questioned by reporters regarding this controversy. According to US media reports, several tech giants, including Google, Apple, and Microsoft, have changed the names of their respective mapping platforms so far. Google announced in a statement on the 10th that users in the United States, Mexico, and other regions will see different names on Google Maps. (CCTV)

Trump's proposed reciprocal tariffs may take effect on April 1st

CNBC's senior Washington correspondent Eamon revealed on social media platform "X" that he was informed that the new tariff policy announced by US President Trump today will not take effect today. There will be a delay of several months, possibly starting on April 1st. But this is still a pending situation. Today will be a presidential memorandum, not an executive order, and the Office of the United States Trade Representative will be responsible for formulating the next steps.

Domestic news

Zheng Zhajie, Director of the National Development and Reform Commission: Coordinate and make good use of various construction funds such as investment from the central budget, and promote the formation of more physical workloads as soon as possible

Zheng Zhajie, Director of the National Development and Reform Commission, published a signed article stating that efforts will be made to actively expand effective domestic demand. On the one hand, vigorously boosting consumption. Implement special actions to boost consumption, innovate diversified consumption scenarios, expand service consumption, and promote the development of cultural tourism industry. Actively develop the primary economy, ice and snow economy, and silver economy. Strengthen the construction of consumer infrastructure such as parking lots, charging stations, and mass sports, and enhance the protection of consumer rights and interests. On the other hand, expanding profitable investments. We will make good use of all kinds of construction funds, such as central budget investment, ultra long term special treasury bond, and new local government special bonds, to promote the formation of more physical work as soon as possible, effectively drive social investment with government investment, and continue to promote the introduction of private capital into major projects.

The movie 'Ne Zha: The Demonic Children Who Make Waves in the Sea' is equivalent to the total box office of 2010

On the afternoon of February 13th, according to online platform data, the total box office of the movie "Ne Zha: The Demonic Child Roars in the Sea" (including on-demand screenings, pre-sales, and overseas box office) has exceeded 10 billion yuan. According to data released by the State Administration of Radio, Film and Television, the total box office of urban cinemas in China reached 10.172 billion yuan in 2010, marking the first time that the total box office of Chinese films has exceeded 10 billion yuan. In just over two months of 2025, 'Ne Zha 2' set a box office record of nearly 10 billion yuan, approaching the total box office of 2010.