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News
Thursday, January 29, 2026
What’s happening: Shares of Tesla rose during Wednesday’s extended trading session, after the company reported its fourth-quarter results.
What happened: The EV maker reported the first annual revenue contraction in its history for 2025.
Tesla also announced plans to invest around $2 billion in CEO Elon Musk’s AI startup, xAI, as part of its pivot towards AI and robotics.
How were the results: The Austin, Texas-based company’s 2025 revenues declined around 3% to $94.83 billion, representing its first annual contraction since going public.
Why it matters: Tesla’s core business of electric vehicles, which accounts for much of the company’s current sales, has been under pressure as its rivals continue to unveil newer models at lower prices. Sales were also impacted by the end of federal incentives for EVs.
The company said it is on schedule for the large-scale production of Tesla Semi and CyberCab in North America in the first half of 2026. The company is also looking to launch the Gen 3 version of Optimus during the first quarter of the year.
Tesla also announced plans to stop the sale of its Model S sedans and Model X SUVs, which once helped the company become a leader in the EV segment. With sales of these vehicles declining, the company is looking to use the factory space to build robots.
The company plans to invest $20 billion in AI and robotics. It has agreed to invest $2 billion to acquire shares in CEO Elon Musk’s startup, xAI.
“2025 marked a critical year for Tesla as we further expanded our mission and continued our transition from a hardware-centric business to a physical AI company,” the company said in a statement.
How shares responded: Tesla’s shares gained 2.2% to $439.74 in after-hours trading on Wednesday following the release of quarterly results. The stock has surged around 32% over the past six months.
What to watch: Investors will continue monitoring plans to ramp volumes of Tesla Semi and CyberCab and the launch of the Gen 3 version of Optimus.
Context: The EUR/USD forex pair gained this morning amid weakness in the US dollar.
Details: Investors continued monitoring the European Central Bank’s monetary policy outlook, after policymaker Martin Kocher signalled that further strength in the euro could result in interest rate cuts.
Markets increases speculations of the ECB cutting its benchmark interest rates by 25 basis points (bps) by July.
Meanwhile, the Germany’s government slashed its GDP growth outlook to 1.0% in 2026 from the previous forecast of 1.3%, signalling rising concerns around international trade. However, the latest projection is still higher than the 0.2% growth recorded in 2025.
India and the EU finalised a long-delayed agreement on Tuesday, which would lower tariffs on various products and provide a boost to overall trade. India announced plans to immediately cut duties on high-end cars from Europe to 30% from as high as 110%, following its new trade agreement with the European Union. This would open the market for luxury carmakers like BMW and Mercedes-Benz.
Weakness in the US dollar lent support to the EUR/USD forex pair. The US dollar index, which measures the greenback’s performance versus a basket of major peers, fell around 0.3% to 96.21 this morning.
The EUR/USD forex pair gained over 0.1% to reach 1.1973 this morning, while the EUR/GBP pair rose more than 0.1% to 0.8670.
What to watch: Investors await the release of economic reports on the Eurozone’s economic sentiment (1400 UAE Time), consumer confidence (1400 UAE Time) and services sentiment (1400 UAE Time) today.
The Eurozone Economic Sentiment Indicator, which fell to 96.7 in December from a 31-month high of 97.1 in the previous month, is expected to rise to 97 in January. Analysts expect Eurozone’s consumer confidence to rise to a reading of -12.4 in January from -13.2 in December, while the index measuring services confidence is projected to improve to 6 in January from 5.6 in the previous month.
Other Markets: US trading indices closed mixed on Wednesday, with the Dow Jones index and Nasdaq 100 up by 0.02% and 0.32%, respectively, and the S&P 500 down by 0.01%.
Ukraine’s President Volodymyr Zelenskyy said that France had agreed to provide more aircrafts, missiles and aerial bombs this year. The news sent the USD/RUB pair higher in forex trading this morning.
The Philippines’ GDP expanded 3% year-over-year in the fourth quarter, easing from 3.9% in the third quarter. The latest reading coming in below market expectations of 3.8% lent support to the USD/PHP forex pair.
The Hong Kong Monetary Authority held its base rate at 4.0% during its latest meeting, which sent the USD/HKD pair slightly higher in forex trading this morning.
New Zealand’s ANZ Business Outlook Index fell to 64.1 in January from 73.6 in the previous month. Business sentiment declining to its weakest level since October 2025 exerted pressure on the NZD/USD forex pair.
UK’s car production jumped 17.7% year-over-year to 53,003 units in December, ending a four-month plunge, which sent the GBP/USD pair higher in forex trading this morning.
Eurozone’s loans to companies (1300 UAE Time), consumer inflation expectations (1400 UAE Time) and industrial sentiment (1400 UAE Time), South Africa’s PPI (1330 UAE Time) and interest rate decision (1700 UAE Time), Italy’s industrial sales (1400 UAE Time), France’s unemployment benefit claims (1500 UAE Time) and jobseekers total (1500 UAE Time), Spain’s business confidence (1500 UAE Time), Brazil’s bank lending (1530 UAE Time), Canada’s balance of trade (1730 UAE Time), and average weekly earnings (1730 UAE Time) as well as US balance of trade (1730 UAE Time), initial jobless claims (1730 UAE Time), nonfarm productivity (1730 UAE Time), factory orders (1900 UAE Time) and wholesale inventories (1900 UAE Time).
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