US stock markets closed slightly lower last week. The S&P 500 index fell 0.38%, the Nasdaq dropped 0.66%, and the Dow Jones lost 0.29%. The main reason for the losses was uncertainty over US monetary policy. However, the losses were small, as the market was helped by positive financial results from large technology companies and banks.

At the end of last week, gold prices fell by more than 1% after geopolitical tensions, particularly over Iran, eased slightly. This reduced demand for gold as a low-risk asset. The price of gold in the spot market fell to $4,592 per ounce.

European stocks closed mostly unchanged on the last business day of last week. Losses in the shares of luxury brands and mining companies were offset by gains in the shares defense and healthcare companies. The shares of pharmaceutical company Novo Nordisk, for example, rose 6.5%, helped by a surge in sales of its drug Wegovy.

Global equity funds saw their biggest weekly inflows in more than three months in the week ending January 14, pulling in $45.6 billion from investors. Bond funds pulled in $19 billion, while money market funds pulled out $67 billion.

Wall Street rebounded on the last working day of last week thanks to positive financial results from technology companies and banks, with TSMC, BlackRock, Goldman Sachs, and Morgan Stanley reporting better-than-expected earnings. US jobs data boosted the dollar, while oil prices fell after President Donald Trump’s remarks eased concerns about tension in Iran.

Goldman Sachs beat earnings estimates in the fourth quarter thanks to strong banking and trade transactions. Investment banking revenue rose 25% to $2.58 billion, while revenue from stock trading hit a record $4.31 billion. The company’s shares rose more than 3% in morning trading after the report was published.

Morgan Stanley also beat profit forecast estimates in the fourth quarter, contributed by the 47% growth in investment banking revenues. The bank’s total annual revenue hit a record $70.65 billion. The bank’s shares rose more than 4% in morning trading after the report was published.

The market value of ASML, the world's largest manufacturer of equipment for chip production, has exceeded $500 billion after the company's main customer, TSMC, announced that it will spend $52-56 billion in 2026 to meet the growing demand for AI chips. ASML shares rose 5.4% after this announcement. 

Among companies with a capitalization of at least $ 10 billion, Galaxy Digital Inc., which operates in the field of crypto assets, blockchain infrastructure and digital asset management, recorded the biggest increase last week. The company's shares rose 37.57% in a week to $34.31 per share. Next is TTM Technologies, Inc., which is engaged in the production of printed circuit boards (PCBs), with a growth of 36.72% to $101.01 per share. This top three is concluded by Figure Technology Solutions, Inc., a developer of digital financial solutions and lending technologies, up 27.26% to $73.91 per share.

The top three largest-cap companies that recorded the biggest losses last week starts with Regencell Bioscience Holdings Limited, a developer of traditional Chinese medicine-based treatments, whose shares fell 40.10% in one week to $27.43 per share. Next is Figma, Inc., a developer of design and collaborative software platforms, down 20.79% to $29.57 per share. And this top three concludes with Atlassian Corporation, a developer of enterprise software and teamwork tools, down 19.03% to $118.55 per share.

In November, the producer price index (PPI) in the US rose 0.2%, compared to 0.1% in October. And the PPI in the country rose by 3.0% year-on-year, driven mainly by a 4.6% increase in energy prices. This, according to analysts, shows that businesses have somewhat absorbed the import duties without fully passing them on to consumers. 

The World Bank has revised its global growth forecast for 2025-26. It now forecasts 2.6% growth in 2026, up from 2.4% previously, and 2.7% growth in 2027, up from 2.6% previously. This increase is largely due to stronger economic resilience in advanced economies, especially the US. The latter’s economic growth is forecast at 2.2% in 2026, down from 2.1% previously. However, the World Bank analysts warn that the 2020s will remain the weakest economic growth decade since the 1960s, noting that the global economy is still not doing enough to reduce poverty or improve the quality of life.

On January 13, a total of 50 billion drams of government bonds were placed on Armenia’s stock market, and they will be redeemed on October 29, 2035. The public auction had four participants, and the total amount of bids submitted by them amounted to 161 billion drams. The weighted average price of the placed government bonds was 106 drams, and the yield was 8.09 percent.

On Monday, a total of 5 billion drams of government bonds were placed on Armenia’s stock market, and they will be redeemed on January 18, 2027. The public auction had four participants, and the total amount of bids submitted by them amounted to 25 billion drams. The weighted average price of the placed government bonds was 93.2 drams, and the yield was 7.2 percent.

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