Kim Kahn

The commercial airplane segment recorded an operating loss of $632 million in the quarter, while defense, space, and security had a $507 million operating loss that included around $600 million of charges on the KC-46A tanker program tied to higher production support and supply chain costs.

United Parcel Service posted an EPS of $2.38, topping the $2.20 consensus.

U.S.

domestic segment revenue fell 3.2% year-over-year to $16.8 billion versus $16.3 billion expected.

That was primarily due to an anticipated decline in volume.

For the full year, UPS expects revenue of about $89.7 billion versus $88 billion consensus and sees non-GAAP-adjusted operating margin around 9.6%.

And General Motors reported another solid quarter, as better-than-expected profits, a dividend hike, and a share buyback offset a 5% decline in sales and a significant write-off in its electric vehicle business.

On the economic front, the Conference Board's Consumer Confidence Index tumbled 9.7 points to 84.5 in January, missing the 90 consensus and down from 94.2 in December.

Confidence collapsed in January as consumer concerns about both the present situation and expectations for the future deepened, Dana M. Peterson, chief economist at the conference board, said.

All five components of the index deteriorated, driving the overall index to its lowest level since May 2014, surpassing its COVID-19 pandemic depths.

In other years of note, Apple may have picked Google to help power its next version of Siri, but it also held talks with Anthropic, according to Bloomberg.

Apple was in discussions with both Anthropic and OpenAI about helping run Siri and handling parts of Apple intelligence.

But Bloomberg reports Anthropic, the maker of the Claude family of AI models, wanted several billion dollars a year over multiple years, and Apple ultimately decided those terms weren't attractive.

Earlier this month, it was also reported that Opening Eye made a conscious decision to sit out the deal, as Apple and the chat GPT maker increasingly see each other as competitors.

And in the Wall Street research corner, silver should be trading at half its current price later in 2026, according to Marko Kalanovic, former chief strategist and co-head of global research at J.P.

Morgan.

The precious metal is knocking on the door of $1.10 per ounce, but Kalanovic says this is the result of mean traders attempting to take over the market.

Both silver and gold are currently rallying as political tensions rise, and predictions markets are now foreseeing an 80% probability that a partial federal government shutdown could occur by the end of this week.

But these silver prices will not last, Kalanovich said.

Welcome to Seeking Alpha's Wall Street Brunch, our Sunday look-ahead to this week's market-moving events, along with the weekend's top news and analysis.