Editor’s Note
Markets remain in a holding pattern, digesting a mixed batch of corporate earnings. This brief update captures a cautious session where early gains faded, highlighting the current focus on fundamental corporate performance over macroeconomic trends.
Stock markets moved cautiously on Tuesday, with an eye on several corporate earnings reports, while precious metals rebounded after their recent plunge, benefiting from bargain-hunting by investors.
On Wall Street, New York indices opened broadly higher before reversing course.
Around 15:00 GMT, the tech-heavy Nasdaq was down 0.83%, the broad S&P 500 index shed 0.30%. Only the Dow Jones was flat (-0.07%).
In Europe, indices were almost all slightly lower. Around 14:45 GMT, the CAC 40 was down 0.30%, the German DAX 0.10%, while London fell more sharply (-0.65%).
Overall, European and US stock markets remain focused on corporate earnings, particularly from tech and healthcare giants.
Shares of US technology group Palantir surged 6.53% in early trading on the New York Stock Exchange after well-received results, with “better-than-expected revenue” in the fourth quarter, noted Neil Wilson, an analyst at Saxo Markets.
These releases are “a decisive test for the AI sector,” and “any sign that the outlook is uncertain” or “that investment spending is not justified” will be “penalized by the markets,” summarized Kathleen Brooks of XTB.
Markets are seeking reassurance about artificial intelligence, a driver of stock markets, as doubts regularly arise about the possibility of a bubble and overvaluation of these dominant players.
US pharmaceutical group Merck, also known as MSD outside North America, was up 4.08% around 14:35 GMT, at $117.45 per share.
It reported sharply higher results for the fourth quarter on Tuesday, still supported by its oncology drugs but also by animal health.
For the period from early October to late December, the laboratory’s revenue climbed 5% to reach $16.4 billion, more than expected by a consensus of analysts polled by Bloomberg.
Conversely, Pfizer was down 4.29% around 14:40 GMT, at $25.52, after announcing a net loss of $1.65 billion for the fourth quarter of 2025 on Tuesday, deepened by charges that nearly doubled year-on-year, while confirming its targets for fiscal year 2026.
Communications giant Publicis plunged more than 10% on the Paris Stock Exchange around 14:50 GMT, after publishing forecasts deemed cautious for 2026.
The group, which posted a 5.6% increase in organic revenue in 2025, exceeded its targets but forecasts growth between 4% and 5% for 2026, disappointing investors.
Meanwhile, precious metals rebounded. After losing 16% and 34% respectively since Thursday, gold gained around 12:20 GMT 5.51% to $4,918.17 per ounce (31.1 g) and silver 11.09% to $88.07 per ounce.
The choice of Kevin Warsh by Donald Trump to chair the US Federal Reserve (Fed), seen as reassuring by the market, had driven prices down in recent sessions, ending several weeks of strong gains and record runs for these assets.
Gold and silver had been playing their full role as safe-haven assets in recent months, amid uncertainties caused by the US president’s policies and his pressures on the Fed, which weighed on the dollar’s credibility.
Meanwhile, oil rose slightly: a barrel of North Sea Brent gained 1.03% to $66.98, while a barrel of North American WTI rose 1.32%, to $62.96.