Overnight US stocks | Three major indices are mixed, Microsoft Corporation (MSFT.US) plunges by about 10%, and spot gold sees a daily volatility of nearly $500.

On Thursday, the three major indexes showed mixed movements, with Microsoft Corporation (MSFT.US) plummeting by about 10%, and the overall decline in software stocks putting pressure on technology stocks. [US Stocks] At the close, the Dow Jones fell by 55.96 points, a decrease of 0.11%, to 49071.56 points; the Nasdaq fell by 172.33 points, a decrease of 0.72%, to 23685.12 points; the S&P 500 index fell by 9.02 points, a decrease of 0.13%, to 6969.01 points. Tesla, Inc. (TSLA.US) dropped by over 3%, Microsoft Corporation (MSFT.US) dropped nearly 10%. The Nasdaq China Golden Dragon Index rose by 0.3%, Alibaba Group Holding Limited Sponsored ADR (BABA.US) dropped by nearly 1%, NIO Inc. Sponsored ADR Class A (NIO.US) rose by 4%. [European Stocks] The Germany DAX30 index fell by 512.65 points, a decrease of 2.06%, to 24330.89 points; the UK FTSE 100 index rose by 10.57 points, an increase of 0.10%, to 10165.00 points; the France CAC40 index rose by 4.68 points, an increase of 0.06%, to 8071.36 points; the Euro Stoxx 50 index fell by 36.54 points, a decrease of 0.62%, to 5896.66 points; the Spain IBEX35 index fell by 25.16 points, a decrease of 0.14%, to 17582.44 points; the Italy FTSE MIB index fell by 78.23 points, a decrease of 0.17%, to 45060.50 points. [Cryptocurrency] Bitcoin plunged by over 5%, dropping below $84,000, while Ethereum plummeted by over 6.5%, to $2,813.33. [US Dollar Index] The US dollar index, which measures the dollar against six major currencies, fell by 0.17% on the day, closing at 96.285 in the currency market. At the New York closing, 1 euro exchanged for 1.1951 US dollars, higher than the previous trading day's 1.1928 US dollars; 1 British pound exchanged for 1.3802 US dollars, higher than the previous trading day's 1.3776 US dollars. 1 US dollar exchanged for 152.99 Japanese yen, lower than the previous trading day's 153.80 Japanese yen; 1 US dollar exchanged for 0.7668 Swiss francs, lower than the previous trading day's 0.7712 Swiss francs; 1 US dollar exchanged for 1.3513 Canadian dollars, lower than the previous trading day's 1.3593 Canadian dollars; 1 US dollar exchanged for 8.8268 Swedish krona, lower than the previous trading day's 8.8822 Swedish krona. [Metals] Spot gold rose in the US session, recovering from the largest one-day drop of over $300, to $5,418 per ounce. Throughout Thursday's trading session, spot gold hit a new record high of $5,596.7 per ounce in the Asian session and dropped to $5,105 per ounce in the US session, resulting in a daily fluctuation of nearly $500. Furthermore, in a wave of declines in the US session, spot gold saw some 1-minute candlesticks drop by over $100 and rise by over $100, setting a historical single-day drop of $319. It is worth noting that spot gold had set a historical single-day increase of $240 just the previous trading day. The Chicago Mercantile Exchange (CME) announced on the 30th local time that it would adjust the margin requirements for some gold and aluminum futures contracts (Outright Rates). According to the document, the new margin ratio for gold contracts is higher than the previous level, at about 6% of the nominal value. The new standard will take effect after the New York session closes on January 30th. [Crude Oil] Light crude oil futures on the New York Mercantile Exchange for delivery in March rose by $2.21 to close at $65.42 per barrel, an increase of 3.5%; Brent crude oil futures for delivery in March rose by $2.31 to close at $70.71 per barrel, an increase of 3.38%. [Macro News] The US Treasury Department released a report and did not list any economies on the currency manipulation list. The US Treasury Department said on Thursday that it will enhance scrutiny of foreign exchange trading behaviors in various countries, including any measures to prevent the devaluation of their currency against the US dollar, but did not accuse any major trading partners of currency manipulation. In its latest semiannual currency report, the US Treasury Department noted that no major trading partner met all three criteria for enhanced currency analysis in the second half of 2024 and the first half of 2025. Due to the continuous growth of Thailand's global current account surplus and trade surplus with the US, the US Treasury Department added Thailand to its "monitoring list" of economies that need close attention. With the addition of Thailand this time, the number of economies on the monitoring list has increased to 10, including Japan, South Korea, Vietnam, Ireland, and Switzerland. Trump: The White House is still negotiating with Democrats to avoid a government shutdown. President Trump said that the White House is negotiating with Senate Democrats to reach an agreement that could avoid a government shutdown, but any agreement passed by the Senate still needs to be approved by the House of Representatives. Sources familiar with the matter said the impending agreement would separate a contentious immigration enforcement bill from the overall funding package. At a cabinet meeting in the White House, Trump said: "We hope that we will not face a government shutdown. We are working on this. I think we are close to our goal. We will work in a very cooperative manner to avoid a government shutdown, we do not want this to happen." US Defense Secretary says Pentagon is ready to carry out any decision Trump makes on Iran. US Defense Secretary Hagase said on Thursday that the US military is prepared to execute any decision President Trump makes regarding Iran to ensure that Tehran does not seek to develop nuclear weapons capabilities. As a large number of US troops gather in the region, Trump asked Hagase for comment on the situation during a cabinet meeting. "They should not seek nuclear capability. We will be ready to meet all the expectations of the President for the war department," said Hagase. US officials said Trump is evaluating various options but has not decided whether to strike Iran. [Individual Stock News] Amazon.com, Inc. (AMZN.US) is in talks to invest up to $50 billion in OpenAI. According to sources, Amazon.com, Inc. is negotiating with OpenAI and is interested in investing up to $50 billion in the company. OpenAI is seeking to raise up to $100 billion in new funding from investors, which could increase its valuation to $830 billion. SoftBank is in talks to add up to $30 billion in additional investment in OpenAI. According to some sources, Amazon.com, Inc. CEO Andy Jassy is leading the negotiations with OpenAI CEO Altman. If Amazon.com, Inc. actually invests up to $50 billion, it will be the largest contributor to OpenAI's current round of financing. Apple Inc. (AAPL.US) reported a revenue of $143.8 billion in Q1 of FY 2026, a 16% year-over-year increase; a net profit of $42.097 billion, compared to $36.33 billion in the same period last year. Apple Inc. released its Q1 FY 2026 financial report: revenue of $143.8 billion, a 16% year-over-year increase; net profit of $42.97 billion, compared to $36.33 billion in the same period last year. Diluted earnings per share were $2.84, a 19% year-over-year increase. Apple Inc. CEO Tim Cook said: "Today, Apple Inc. is very proud to announce that this quarter's performance is outstanding, setting a new record high with revenue of $143.8 billion, a 16% year-over-year increase, far exceeding expectations. iPhone's quarterly performance hit a record high, attributed to unprecedented market demand, with sales in all regions reaching record highs. Revenue from the services business also hit a record high, with a 14% year-over-year increase. In addition, we are pleased to announce that the number of active Apple Inc. devices has exceeded 2.5 billion, demonstrating high customer satisfaction with our world-class products and services." Apple Inc. CFO Kevin Parek said: "Our record-breaking business performance and strong profit margins in the quarter ended in December drove an increase in earnings per share by 19%, setting a new record high. These exceptionally strong results brought in nearly $54 billion in operating cash flow, allowing us to return nearly $32 billion to shareholders." SanDisk (SNDK.US) reported a revenue of $30.3 billion in Q2 of FY 2026, a 31% increase quarter-over-quarter; adjusted earnings per share of $6.2, a 408% increase quarter-over-quarter. SanDisk released its Q2 FY 2026 financial report: Q2 revenue of $30.3 billion, a 31% increase quarter-over-quarter and a 61% increase year-over-year; gross margin under GAAP was 50.9%, up 21.1% quarter-over-quarter and 18.6% year-over-year; non-GAAP gross margin was 51.1%, up 21.2% quarter-over-quarter and 18.6% year-over-year; adjusted net earnings per share of $6.2, a 408% increase quarter-over-quarter and 404% increase year-over-year. SanDisk CEO David Gekler said: "This quarter's performance highlights our agility in optimizing our product portfolio, accelerating enterprise SSD deployments, and enhancing market demand, while at the same time, the key role our products play in artificial intelligence and global technological development is increasingly recognized. Through structural adjustments, we were able to match supply with sustained strong demand, enabling us to achieve robust growth and industry-leading financial performance." [Major Bank Ratings] TD Cowen: Microsoft Corporation (MSFT.US) target price lowered from $625 to $610; Tesla, Inc. (TSLA.US) target price raised from $509 to $519.