Luke Vargas

U.S.

stock futures are gaining ahead of the Federal Reserve's interest rate decision today, where the central bank is expected to hold rates steady after three consecutive cuts.

NVIDIA's success has been a boon for suppliers like memory chipmaker SK Hynix, which this morning posted record earnings for the final quarter of 2025.

That echoes bumper growth for Europe's largest tech company, ASML, which said that orders for its chipmaking equipment surged last year.

And we've got a lot more coverage of the day's news on the WSJ's What's News podcast.

You can add it to your playlist on your smart speaker or listen and subscribe wherever you get your podcasts.

Here is your morning brief for Tuesday, January 27th.

I'm Luke Vargas for The Wall Street Journal.

Shares of some of America's biggest health insurers are skidding off hours following journal reporting that the Trump administration is proposing to hold payments for Medicare insurers roughly flat next year.

And the chair of the Senate's antitrust panel has warned that Netflix's proposed $72 billion takeover of Warner Bros.

The EU and India seal a free trade deal decades in the making.

Plus, rights groups in Iran break through a communications blackout to shed light on the true death toll in recent protests.

and the latest from Minnesota as President Trump shakes up his immigration strategy.

It's Tuesday, January 27th.

I'm Luke Vargas for The Wall Street Journal, and here is the AM edition of What's News, the top headlines and business stories moving your world today.

After two decades of on-again, off-again talks, the European Union and India say they've reached a free trade deal.

The deal will be the largest for both economies, linking together almost two billion consumers.

And as trade reporter Kim McRaehl is here to discuss, it comes as a number of U.S.

trading partners are actively taking steps to curb their reliance on America.

Kim, thanks for being with us this morning.