The Economic Times·2026-01-14 01:55Market Overview - U.S. stocks ended lower, primarily driven by declines in financial shares due to concerns over President Trump's credit-card proposal [10] - The Dow Jones Industrial Average fell by 398.21 points (0.80%) to 49,191.99, while the S&P 500 lost 13.53 points (0.19%) to 6,963.74 [10] - The Nasdaq Composite decreased by 24.03 points (0.10%) to 23,709.87 [10] Financial Sector Performance - Shares of Visa fell by 4.5%, Mastercard dropped by 3.8%, and the financial sector overall declined by 1.8%, leading the S&P 500's losses [10] - JPMorgan's shares ended down by 4.2%, despite reporting a better-than-expected quarterly profit, attributed to a drop in investment banking fees [10][5] - Other major banks also experienced declines ahead of their quarterly earnings reports, although analysts expect stronger results for the last quarter of 2025 [5] Economic Indicators - A report on U.S. inflation for December met expectations, which helped to stabilize market expectations for potential interest rate cuts from the Federal Reserve this year [10] - Tim Ghriskey, a senior portfolio strategist, noted that financials are being negatively impacted by Trump's credit-card proposal, which could hurt profits for financial companies [2] Earnings Season Insights - The fourth-quarter U.S. earnings season unofficially began with results from JPMorgan and other companies, with expectations of positive earnings news overall [6] - Oliver Pursche, a senior vice president at Wealthspire Advisors, indicated that there may be upward revisions for 2026 earnings forecasts [6] Market Dynamics - Advancing issues outnumbered decliners on the NYSE by a ratio of 1.15-to-1, with 577 new highs and 77 new lows [11] - On the Nasdaq, 2,068 stocks rose while 2,701 fell, resulting in a declining issues ratio of 1.31-to-1 [11] - Trading volume on U.S. exchanges reached 18.68 billion shares, surpassing the 20-day average of approximately 16.4 billion shares [11]