Bonds & Stocks
Stocks tried to stabilize after a selloff that shook markets around the globe, with traders gearing up for the start of the megacap earnings season and Federal Reserve decision on rates. The S&P 500 added 0.2%.The Nasdaq 100 rose 0.4%. The Dow Jones Industrial Average gained 0.1%. A Bloomberg gauge of the Magnificent Seven megacaps climbed 0.7%. The Russell 2000 was little changed.
Economy
US consumer confidence unexpectedly fell in January to a four-month low on less optimism about the labor market and the outlook for the broader economy. The Conference Board’s gauge of confidence decreased 5.4 points to 104.1 this month, data released Tuesday showed. The median estimate in a Bloomberg survey of economists called for a reading of 105.7.
World
President Donald Trump said he wants to impose across-the-board tariffs that are “much bigger” than 2.5%, the latest in a string of signals that he’s preparing widespread levies to reshape US supply chains.