Overnight US stocks | The three major indices closed higher, with most leading tech stocks rising. Nvidia(NVDA.US) up 1.63%

CryptoView Financial APP reports that on Wednesday, the three major indices closed higher, led by technology stocks. The latest Federal Reserve meeting minutes show officials once again expressed concerns about inflation, with several policymakers suggesting that if inflation remains above target, the central bank may need to raise interest rates.

[U.S. Stocks] At the close, the Dow rose 129.47 points, or 0.26%, to 49,662.66; the Nasdaq increased 175.25 points, or 0.78%, to 22,753.63; the S&P 500 gained 38.09 points, or 0.56%, to 6,881.31. Most leading tech stocks advanced, with Nvidia (NVDA.US) up 1.63%, Micron Technology (MU.US) up 5.3%, and Microsoft (MSFT.US) up 0.69%.

[European Stocks] Germany’s DAX 30 index rose 264.43 points, or 1.06%, to 25,269.77; the UK FTSE 100 increased 131.73 points, or 1.25%, to 10,687.90; France’s CAC 40 gained 67.57 points, or 0.81%, to 8,429.03; the Euro Stoxx 50 rose 80.81 points, or 1.34%, to 6,102.66; Spain’s IBEX 35 increased 240.36 points, or 1.34%, to 18,195.76; Italy’s FTSE MIB rose 565.43 points, or 1.24%, to 46,329.50.

[Cryptocurrency] Bitcoin fell over 1.8%, trading at $66,298; Ethereum declined over 2%, at $1,947.26.

[Precious Metals] Spot gold temporarily surpassed $5,000, ultimately closing at $4,976.39.

[Oil] WTI rose 4.6%, closing near $65 per barrel; Brent crude settled above $70 per barrel for the first time in over two weeks.

[Macro News]

U.S. industrial production growth hits nearly one-year high. Driven by broad manufacturing expansion and healthy growth in utility output, U.S. industrial production in January increased by the largest margin in nearly a year. Data released by the Federal Reserve on Wednesday show factory, mining, and utility output grew 0.7%, revised from the previous month’s 0.2%. Manufacturing, which accounts for three-quarters of total industrial output, increased 0.6%, the largest since February 2025. The growth was broad-based, including strong increases in business equipment and consumer goods production.

U.S. new housing starts reach five-month high. Due to lower borrowing costs encouraging homebuilders to increase output, U.S. new residential construction in December rose to the highest level in five months. According to government data released Wednesday, December’s new housing starts increased 6.2% year-over-year, with an annualized rate of 1.4 million units. The data was delayed due to the fall federal government shutdown. This figure exceeded all economist expectations. The strong construction data suggests that despite builders still selling backlog of new homes, their confidence at year-end remains elevated. However, total new housing starts for the year continued a four-year decline.

Hasset criticizes New York Fed’s tariff study, claims tariffs will benefit consumers. White House National Economic Council Director Hasset called the New York Fed’s tariff research “embarrassing,” stating those involved should face “disciplinary action.” The NY Fed’s report last week found that nearly 90% of the economic burden of tariffs is borne by U.S. companies. Hasset said, “Their conclusions have generated a lot of partisan news coverage, and their analytical approach is even unacceptable to first-year economics students.” He argued that tariffs will benefit U.S. consumers.

Fed minutes show shift in officials’ concerns: labor market risks diminish, inflation worries rise. Nick Timiraos, known as the “Fed whisperer,” reports that the minutes from the Fed meeting indicate that more officials are less worried about the labor market but more concerned about inflation. The minutes state that most officials warned that progress in reducing inflation “may be slower and more uneven than generally expected.” They see the risk of inflation remaining persistently above the Fed’s 2% target as “significant.” Similarly, the minutes describe the Fed staff’s inflation forecasts as more persistent, with inflation above target being “a notable risk.” Data released after the January meeting may give those who believe there’s no need to rush to cut rates more confidence, with markets widely expecting the Fed to hold steady at next month’s meeting. Last week, the Labor Department reported that January employment increased by 130,000 jobs, exceeding expectations, with the unemployment rate slightly falling to 4.3%, easing fears of a more severe slowdown in the labor market. Nonetheless, annual revisions show employment growth slowed sharply over the past year.

Fed whisperer: Minutes show little appetite for rate cuts, multiple officials support “dual” language. Nick Timiraos reports that Fed officials at last month’s meeting showed almost no willingness to cut rates, with most indicating they want to see more progress on inflation before considering further cuts—this process could take months. Although two officials opposed holding rates steady and favored rate cuts at the January meeting, the minutes show others would support adopting more neutral language, describing the outlook as balanced. The minutes state that these officials would be willing to modify the post-meeting statement to reflect that if inflation remains above the Fed’s target, rate hikes may be necessary. The minutes note, “Several participants indicated they would support a dual description of the future path of rates, reflecting that if inflation remains above the target, raising rates could be appropriate.”

Castle Securities: Retail investors are “unprecedented” in bottom-fishing as software stocks suffer. As Wall Street revalues software maker stocks amid fears of AI tool threats, a group of investors is rushing to buy on dips. Scott Lubna, head of stock and derivatives strategy at Castle Securities, said retail traders on their platform are purchasing software stocks at record levels. The firm has tracked this data since 2017. “The net notional value on our platform has reached levels we’ve never seen before,” Lubna wrote in a report to clients on Tuesday. “The scale, persistence, and breadth of buying activity have far exceeded previous peaks, highlighting retail as a key source of incremental demand into early 2026.” Since Anthropic PBC launched a productivity tool tailored for internal legal teams, various stocks—from small software developers to large wealth management firms—have been caught in a sell-off.

[Stock Highlights]

Figma (FIG.US) Q4 revenue $300 million, up 40% YoY, surpassing guidance; expects Q1 revenue of $315–317 million. Figma’s Q4 2025 revenue reached $303.8 million, up 40% YoY, exceeding the previously issued guidance range. U.S. GAAP operating loss was $195.5 million, with an operating margin of -64%; non-GAAP operating income was $44 million, with a margin of 14%. Net cash from operating activities was $39.9 million, with an operating cash flow margin of 13%; adjusted free cash flow was $38.5 million, margin 13%. GAAP net loss was $226.6 million; non-GAAP net income was $43 million. GAAP basic and diluted net loss per share were $0.44; non-GAAP basic and diluted net income per share were $0.08. As of December 31, 2025, total cash, cash equivalents, and marketable securities amounted to $1.7 billion.

Bank of America (BAC.US) expands rewards program to attract more customers. Bank of America is broadening its rewards program to encourage customers to increase their banking activity. This is part of the bank’s effort to meet its financial targets promised to investors last year. Bank executives said the bank will offer rewards and discounts to all checking account holders, regardless of account balance. Previously, customers needed at least $20,000 to qualify for the first-tier reward, but as deposits increase, the reward value will also rise. To attract new users and retain existing ones, Bank of America is also waiving certain fees, enhancing fraud monitoring services, and offering other incentives. These measures are part of the bank’s broader goal to expand its consumer banking division. Bank of America has pledged to double the division’s profit to $20 billion by the end of this decade. Executives expect the revamped rewards program to add 30 million new consumers on top of the current 11 million users.