Stock market today: Dow, S&P 500, Nasdaq put rally on hold as Wall Street braces for start of data deluge

Market Overview - US stock futures are struggling for gains after the Dow's record close, with the Dow Jones Industrial Average futures hovering above the flatline and fresh all-time highs within reach [1] - Investors have regained confidence in tech stocks, with Nvidia's chipmaker TSMC reporting sales growth at the fastest rate in months, indicating strong AI demand [2] Economic Data - December retail sales numbers are set to be released, which will provide insights into the economy's health, alongside an ADP weekly employment report and the Consumer Price Index reading later in the week [3] Earnings Reports - Earnings season is in focus, with Coca-Cola and Ford reporting on Tuesday, while On Semiconductor's stock fell by 4% after missing Q4 earnings expectations [4][8] - On Semiconductor reported earnings per share of $0.45 on revenue of $1.53 billion, missing estimates of $0.59 per share and down from $0.88 in the same period last year [9] Semiconductor Industry Developments - The US government plans to provide tariff carve-outs for hyperscalers like Amazon, Google, and Microsoft, tied to investment commitments from TSMC, to support the AI sector [5][6] - This exemption scheme reflects the administration's strategy to impose tariffs on chips while alleviating pressure on companies reliant on imported semiconductors [6] Company-Specific Insights - On Semiconductor expects Q1 revenue between $1.43 billion and $1.53 billion, with adjusted diluted earnings per share projected between $0.56 and $0.66, below Wall Street's expectations [11]