Wall Street Today | Don't Get Blindsided By Cooling Prices, JPMorgan's Michele Says

“It’s still a one-in-three chance, but it’s a legitimate risk,” Michele said in an interview. “It is possible the Fed will not initially do enough because the labor market proved more resilient. This is one thing that can unravel the market, and it’s my biggest concern.”

European Central Bank policymakers are starting to consider a slower pace of interest-rate hikes than President Christine Lagarde indicated in December, according to officials with knowledge of their discussions. While the 50 basis-point step in February she signaled remains likely, the prospect of a smaller 25-point increase at the following meeting in March is gaining support.

Wall Street banks showed deep falls in their investment banking businesses in the fourth quarter, prompting thousands of job cuts, but executives are looking for signs that corporate CEOs are regaining confidence in doing deals again.

SpaceX is preparing for a watershed year, aiming for as many as 100 flights. That pace of one roughly every three and a half days compares to the every-six-days clip the company pulled off in 2022. As soon as March, it will attempt the first-ever commercial spacewalk, where astronauts will dangle from a Dragon vessel approximately 700 kilometers (435 miles) above Earth. And it will soon try to reach orbit for the first time with what it hails as the most powerful rocket ever: Starship, the launch vehicle intended to one day reach the moon and Mars.