Markets are not as interested in Trump and AI as before

The emotion for artificial intelligence and perceived friendship of the president of the United States, Donald Trump, increased the feeling of investors as recently as December. In 2025, it seems that these animal spirits have evaporated a little.

Every time Trump presents tariffs, investors have been reacting badly (for a good reason). His threat of reciprocal tariffs on Friday, that is, imposes on other countries the same degree of duties imposed in the United States, sent actions. It is likely that new tariffs on steel and aluminum, which Trump says he will announce on Monday, sink more actions.

Similarly, the AI, the engine that led the highest stocks in 2024, seems to present to investors the most uncertainty than enthusiasm this year. Deepseek’s statement that his training required only a fraction of the billions of dollars that the US AI models aspire Big Tech investments, which will amount to more than $ 300 billion in 2025, as well as its assessment of actions in question.

While the main characters in the stock market remain the same as in December, they are directing markets in a different direction.

New steel and aluminum rates
Trump will announce Monday Additional 25% tariffs in all Imports of aluminum and steel to the US.according to comments to journalists on Sunday. Those will come on the existing encumbrances. Separately, Trump said Friday at a press conference with Japanese Prime Minister Shigeru Ishiba that Nippon Steel will invest in US steelrenouncing his attempt to buy it.

China prices send mixed signals
Consumer prices in China increased 0.5% in January Annually, according to the National Statistics Office on Sunday. The figure is higher than the 0.1% increase in the previous month and 0.4% expected in a Reuters survey, qualifying some concerns about deflation in China’s economy. However, producer prices fell 2.3% in January year after year, the same degree as in December and more steep than the 2.1% estimate, for its 28th consecutive month of decrease.

Unequal report for the US labor market.
He The US economy added 143,000 jobs in Januaryhe Labor Statistics Office reported on Friday. Non -agricultural payrolls for the month fell from 307,000 revised upwards in December was and under the estimation of Dow Jones 169,000. However, the unemployment rate decreased to 4% from 4.1% in the previous month. The average average earnings in January were stronger than expected, reaching 0.5% for the month compared to the 0.3% prognosis.

European markets exceed the United States
All The main indexes of the USA ended the lowest week After a day lost on Friday, when the S&P 500 lost 0.95%, the Dow Jones industrial slid 0.99% and Nasdaq compound 1.36%fell. The actions retired after Trump mentioned the possibility of reciprocal tariffs in commercial partners. Regional Europe Stoxx 600 closed index 0.38% lower, but The week ended with 0.54%. Actions of Porsche and The OreaC fell in the midst of a weak guide and disappointing profits, respectively.

Spend billions on artificial intelligence
SoftBank is close to Finish a primary investment of $ 40 billion in OpenAI With an assessment prior to the money of $ 260 billion, the sources told David Faber de CNBC. Deepseek’s profitability does not seem to deter the great technology: Goal, Amazon, Alphabet and Microsoft have announced plans to Spend $ 320 billion combined in AI and data centers. Demis Hassabis, CEO of Google Deepmind, said Friday that although Deepseek is “the best job” he has seen from China, “There is no new real scientific advance“

(PRO) Focus inflation this week
He Consumer and producer price indices for JanuaryWednesday and Thursday, respectively, it will be especially important for investors. The January job report showed higher salary growth than expected and the Consumer Survey of the University of Michigan He revealed that respondents increased their expectations of the inflation rate per year to 4.3%, a leap from a percentage point since January.

The world is not close to freeing coal; In some countries, demand is increasing

“Nothing can destroy coal,” said the president of the United States, Donald Trump, in the recent World Economic Forum. Statistics seem to demonstrate that it is correct. American coal exports have constantly increased to meet the growing world demand, which is expected to have violated another maximum of 8.77 billion tons in 2024 and will remain at similar levels until 2027, the International Energy Agency predicted. “The global coal change remains challenging, to a large extent promoted by the increase in demand in Asia, even when Europe and the United States see significant decreases in coal consumption,” said Dorothy Mei, project manager of the mines tracker of global coal of Global Energy Monitor.