Reuters Morning Bid

A mystery‑priced chip deal between Meta and Nvidia boosts Big Tech. Geopolitical tensions push oil prices higher. And even with AI spending exploding, Fed officials still aren’t convinced it will tame inflation anytime soon. Today’s recommended read: Hawks circle as top two central banks switch leaders, Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Christine Lagarde is reportedly considering an early exit as president of the European Central Bank. Meanwhile, Wall Street returns from its break with fresh anxiety about AI’s impact on Big Tech and future interest rates. Tonight’s Fed Minutes might offer a clue. Today’s recommended read: China isn’t importing any US LNG, but it's still in the game by Ron Bousso Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Global markets return from a quiet long weekend on a softer note, gold and oil ease as U.S.–Iran talks begin in Geneva, and slowing UK wage growth boosts expectations the Bank of England may move toward a March rate cut. Today’s recommended read: 'Global euro' may have to come with some FX lift by Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

U.S. inflation edges toward the Fed’s target while Japan’s government faces weak growth that underscores its push for fresh stimulus. Meanwhile, energy markets brace for volatility as a low‑expectation second round of U.S.–Iran talks in Geneva threatens to sway oil prices. Today’s recommended read: Suffocating Western pressure may finally force Russian oil output cuts by Ron Bousso Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

A global rotation shakes up markets as money moves from pricey growth stocks into value. U.S. GDP and Walmart results may reveal whether momentum can last, and China’s Lunar New Year brings a surprising yuan rally that adds fresh intrigue to the week ahead. Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

From legal tech to finance, AI anxiety spread fast this week after another startup claimed it could do the job of entire teams. Plus, a rosy U.S. jobs report hides a much weaker white‑collar picture and a sliding dollar. Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Investors have turned from AI euphoria to AI paranoia, after one startup’s software demo sparked selloffs across insurance, logistics, and even Apple. Plus, fresh January price hikes and lingering Trump‑era tariffs mean today’s CPI reading could be a make‑or‑break moment for the Fed. Today’s recommended read: What would it take for the Fed to raise rates?, by Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

January’s blockbuster jobs report shattered the weak labor narrative and pushed expected Fed cuts further out. Add a CBO outlook with deeper deficits and higher‑for‑longer yields, and the path to 2026 rate cuts looks even murkier. Today’s recommended read: Trump rate hopes and CBO budget math don't chime, by Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

Main Street is wobbling, from layoffs to weak retail sales. At the same time, TSMC reports blistering growth. Plus, a new AI tax‑management tool sends wealth‑manager stocks tumbling. Today’s recommended read: Euro and yuan global ambitions hasten the dollar drop by Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices

The renminbi jumps ahead of the Lunar New Year, big tech firms tap the bond market for major funding rounds, and UK politics stir brief market jitters as questions swirl around Prime Minister Starmer’s position. Today’s recommended read: Roaring global growth train emerging from 2026 fog by Mike Dolan Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest Produced by Eliza Davis Beard, Ethan Plotkin, and Abisoye Adelusi Sound engineering and music by Sebastian and Josh Sommer Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt out of targeted advertising. Learn more about your ad choices. Visit megaphone.fm/adchoices