We use essential cookies and third-party cookies for content.

The National Times - Stocks rise but lacklustre US retail sales spur caution

Stocks rise but lacklustre US retail sales spur caution

ECONOMY 10.02.2026
Stocks rise but lacklustre US retail sales spur caution
Stocks rise but lacklustre US retail sales spur caution / Photo: © GETTY IMAGES NORTH AMERICA/AFP

Stock markets posted modest gains Tuesday as traders assessed mixed company earnings and the outlook for the tech sector ahead of key economic data releases, with lacklustre US retail sales data keeping investors cautious.

Change text size:

The Dow Jones Industrial Average gained around 0.5 percent at the Wall Street open, after US retail sales showed no growth in December, falling short of analysts' expectations.

Investors were hoping for fresh insight into the world's biggest economy and the Federal Reserve's plans for interest rates ahead of Wednesday's release of non-farm payrolls, delayed from last Friday owing to a brief US government shutdown.

Closely watched inflation and retail sales figures are also lined up for release this week.

"It's a big week for economic data, with fresh reads on the consumer, jobs, and inflation. So far, though, the tone has been disappointing," said Brett Kenwell, US investment analyst at eToro.

In Europe, the main indexes in Paris, Frankfurt and London were flat two hours from the close.

But shares in Gucci owner Kering jumped 12 percent to top the Paris CAC 40, after its earnings beat estimates despite net profit plunging.

In London, oil giant BP's stock fell around five percent after it suspended share buybacks and posted a sharp drop in annual net profit.

Shares in British drugmaker AstraZeneca advanced one percent after it posted a jump in net profit thanks to strong cancer drug sales.

In Asia, Tokyo climbed more than two percent to a fresh record, building on gains seen after Prime Minister Sanae Takaichi's stunning parliamentary election triumph.

Analysts say she has a clear mandate to pursue an expansionist fiscal policy to spur growth, though many warn that adding to Japan's massive public debt would alarm investors, threatening both government bond yields and the yen.

Advances across world markets have brought some calm to trading floors after last week's roller-coaster ride across a range of assets, with tech firms battered in particular by AI spending fears.

The readings come amid signs of weakness in the US labour market, with President Donald Trump's top economic adviser Kevin Hassett warning of more soft readings to come.

Traders meanwhile tracked Monday's strong session on Wall Street, where tech firms Microsoft, Meta and Nvidia led the charge.

"The past week has undoubtedly highlighted the fact that there will be both winners and losers from AI," said Joshua Mahony, chief market analyst at Scope Markets.

Investors remain concerned about the vast sums of cash pumped into the artificial intelligence sector, with questions being asked about when profits will be realised, if at all.

- Key figures at around 1500 GMT -

New York - Dow: UP 0.5 percent at 50,383.20 points

New York - S&P 500: UP 0.2 percent at 6,976.36

New York - Nasdaq Composite: UP 0.1 percent at 23,263.79

London - FTSE 100: DOWN 0.3 percent at 10,353.67

Paris - CAC 40: UP 0.2 percent at 8,342.05

Frankfurt - DAX: DOWN 0.1 percent at 24,975.79

Tokyo - Nikkei 225: UP 2.3 percent at 57,650.54 (close)

Hong Kong - Hang Seng Index: UP 0.6 percent at 27,183.15 (close)

Shanghai - Composite: UP 0.1 percent at 4,128.37 (close)

Euro/dollar: UP at $1.1920 from $1.1918 on Monday

Pound/dollar: DOWN at $1.3681 from $1.3695

Dollar/yen: DOWN at 154.38 yen from 155.90 yen

Euro/pound: UP at 87.13 pence from 86.99 pence

Brent North Sea Crude: UP at $69.28 per barrel

West Texas Intermediate: UP 0.1 percent at $64.43 per barrel

A.Little--TNT

Featured

Nearly 1,100 flights cancelled after UK air traffic control glitch

Almost 1,100 flights to and from UK airports were cancelled Tuesday due to what the country's air traffic control service called a technical issue, in the latest glitch to spark travel chaos.

Carney touts Canada 'pivot' away from US as tariffs rise

Canadian Prime Minister Mark Carney on Tuesday said reducing economic ties with the United States would come at a cost but the long-term benefits were clear, as retaliatory tariffs on US products took effect.

The "Everlasting Battery" Inside Your Joints:UConn Professor's Self-Powered Healing Material just Got Acquired

A material that turns your own movement into medicine has just landed a corporate home. PetVivo Holdings (OTCQX: PETV), a veterinary biotech and biomedical device company focused on treating osteoarthritis in dogs and horses, has acquired PiezoBioMembrane (PBM) — a startup built around a biodegradable implant that generates electricity from the everyday force of a joint in motion, and uses that charge to help regrow cartilage from the inside out. The material is the invention of Thanh Nguyen, a professor of mechanical engineering in UConn's College of Engineering, who founded PBM in 2021 to advance new implementation methods for his work with piezoelectric materials — substances that convert mechanical force into electrical energy. These materials are typically ceramics: hard, brittle, and poorly suited for medical use. But Nguyen's lab developed new forms that are so , flexible, and biodegradable, breaking down naturally within the body over time. wound healing, The materials have already shown strong potential across a range of medical applications, including tissue regeneration, implanted force sensors, and targeted drug delivery in tumor treatment. How It Works biodegradable ultrasound for In the case of arthritis, Nguyen explains, the piezoelectric materials function as an off-the-shelf product that can be implanted or injected directly into the ailing joint — with no drugs, chemicals, or cells required. The everyday force exerted on the joint generates a small electrical charge, which helps regrow healthy cartilage, mimicking the body's natural use of electricity to regenerate tissue. "The body can be electrically stimulated to regrow," Nguyen says. PBM's materials "act like a battery — an everlasting battery that works whenever there is a force applied, and vanishes safely inside the body over time." PetVivo's Vision for the Acquisition PetVivo Holdings CEO John Lai expressed enthusiasm for the merger's potential to improve the lives of companion animals globally. "PBM has developed a compelling functional biomaterials platform with the potential to support the development of multiple medical device and therapeutic product lines across both human and animal health markets," Lai said in a press release. "By combining PBM's scientific innovation with PetVivo's product development capabilities, commercialization experience, regulatory expertise, and public company infrastructure, we believe we can accelerate theadvancement of technologies that may serve as the foundation for numerous future products and strategic opportunities." For Nguyen, the deal is a chance to scale technology that could eventually benefit both animals and people. "PetVivo is an animal health company, but they do have a big passion: pushing the technology towards clinical trials for human use," Nguyen says. "That aligned perfectly with my passion for developing technology that has an impact on human life. That is why I am excited about this merger, which facilitates my passion." A Track Record of Innovation Nguyen's research sits at the intersection of medicine, micro/nanotechnology, and biomaterials. His inventions have earned him publications in prominent scientific journals and media coverage from outlets including NPR. Nguyen founded PBM during the COVID-19 pandemic, a er realizing the material he had developed could be used to create an especially effective, biodegradable face mask — one where the mechanical force of breathing generated an electrical charge that provided an extra layer of protection against viruses. PBM is not Nguyen's only venture in the acquisition pipeline. His other startup, Single-Time Microneedles (STM), is also currently undergoing an acquisition process. STM has pioneered stable, efficient vaccine delivery technology in the form of an adhesive patch. shelfNguyen's focus on biodegradable materials has translated into a remarkably diverse range of medical applications. He has received five R01 grants from the National Institutes of Health (NIH) supporting research in cartilage regeneration, bone regeneration, HIV antibody delivery systems, and biodegradable ultrasound technology to boost the effectiveness of chemotherapy for brain cancer. "Whatever we are working on, we want to show that it works very well in vitro and in vivo," Nguyen says. "Then, when we are at the point of commercialization, we set up a startup or license the technology — or maybe team up with an industry partner." Thanh Nguyen is a professor of mechanical engineering in UConn's College of Engineering. (Courtesy of Thanh Nguyen

Octrado introduces its proprietary trading offering: "Your Skill. Our Capital"

Infrastructure, transparent rules and clear legal boundaries positioned as the core of the funded-account model

Change text size: