Trump wants lower rates, lower oil | MarketTalk: What’s up today? | Swissquote

US 2-year yield and crude oil fell, and the S&P500 extended gains to a fresh ATH yesterday, as US President Donald Trump said – in his virtual speech in Davos – that he would push for further interest rate cuts and ask OPEC to lower crude prices. Chip stocks couldn’t fully benefit from yesterday’s rally as the Korean chipmaker SK Hynix cautioned that the 2025 memory demand outlook was uncertain due to inventory adjustments by PC and smartphone manufacturers, along with heightened trade protections and geopolitical risks. But overall, the equity rally has further room to run on prospects of lower rates and robust earnings. In the FX, the majors extend gains versus a broadly offered US dollar and there is margin for forther recovery until reaching important technical levels. In energy, crude oil sank into its own medium-term bearish consolidation zone yesterday, in a selloff triggered by Donald Trump’s push for lower oil prices. Listen to find out more!