Stock indexes closed lower on Wednesday, with the S&P 500 and Nasdaq 100 hitting 1.5-week lows. Geopolitical risks in Iran pushed WTI crude oil to a 2.5-month high, while gold, silver, and copper hit new all-time highs. The Fed Beige Book noted a slight uptick in US economic activity. Strong US economic data on retail sales, producer prices, and existing home sales supported stocks. Cryptocurrency stocks rallied as Bitcoin surged. Earnings season begins with S&P earnings expected to grow by 8.4% in Q4. The odds of a rate cut at the upcoming FOMC meeting are at 5%. Overseas markets closed mixed, with the Nikkei reaching an all-time high. Interest rates fell on dovish Fed comments. Stock movers included technology, chip makers, travel companies, energy producers, and cryptocurrency-exposed stocks. Earnings reports on 1/15 include Blackrock, Goldman Sachs, Morgan Stanley, and more.

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