Wall Street ends mixed on growth-slowdown fears…Cloudy nationwide, clearing later [Morning Briefing]

◆ Wall Street: Mixed close as consumer spending softens, raising slowdown fears

The three major U.S. stock indexes finished mixed on the 10th local time. After sharp rebounds over the previous two sessions, concerns about an economic slowdown spread as U.S. retail sales for December came in weaker than market expectations. With the key January nonfarm payrolls report due the next day, a wait-and-see mood also gained traction. On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average rose 52.27 points (0.10%) from the previous session to close at 50,188.14. The Standard & Poor’s (S&P) 500 fell 23.01 points (0.33%) to 6,941.81. The Nasdaq Composite slid 136.20 points (0.59%) to finish at 23,102.47. Earlier, the U.S. Department of Commerce said retail sales in December totaled $735 billion, unchanged from the prior month. That missed the 0.4% increase forecast by economists surveyed by Dow Jones.

◆ International oil prices fall for the first time in three sessions

International oil prices declined for the first time in three sessions. On the New York Mercantile Exchange, March WTI crude fell $0.4 (0.62%) from the previous session to settle at $63.96 a barrel. With military tensions between the United States and Iran still in place, oil market participants were seen watching the course of negotiations between the two countries. Although U.S. President Donald Trump said he could send a second aircraft carrier strike group to Iran if talks collapse, the oil market did not react.

◆ Trump: “Either reach a deal with Iran or take strong action”

As the United States and Iran resumed nuclear talks after eight months, President Trump said, “Either we reach an agreement, or we have to take very strong action like last time.” In an interview with U.S. online outlet Axios on the 10th local time, Trump said he expects a second round of nuclear talks between the United States and Iran to be held next week. Trump added, “One fleet is heading there, and another fleet could be deployed as well.” He also said he is “considering” sending another aircraft carrier strike group.

◆ National Assembly to hold government Q&A on education, society and culture…Ruling and opposition parties clash for a third day

The National Assembly will continue its government question-and-answer session for a third day at today’s plenary session. Attending the Q&A session, which focuses on education, society and culture, are expected to include Prime Minister Kim Min-seok, Education Minister Choi Gyo-jin, Justice Minister Jung Sung-ho, Interior and Safety Minister Yoon Ho-jung, Veterans Affairs Minister Kwon O-eul, and Culture, Sports and Tourism Minister Choi Hwi-young. The ruling Democratic Party is expected to explain the rationale for region-by-region administrative integration being pursued since the launch of the Lee Jae-myung administration and to request tailored support for each region. The People Power Party is expected to press the government on issues including the background behind the cancellation of national merit registration for the late Col. Park Jin-kyung, who led a hardline crackdown during the Jeju April 3 incident. The National Assembly will wrap up the February government Q&A after today.

◆ Jobs at the top 500 companies fell by 6,700 last year…CJ Olive Young posted the largest increase

Jobs at South Korea’s top 500 companies fell by more than 6,700 last year, according to estimates. Even so, CJ Olive Young, which benefited from the K-beauty boom, and SK Hynix, which rode the semiconductor upswing, each increased employment by more than 2,000. CEO Score, a corporate data research firm, examined employment based on National Pension subscribers for 476 companies—excluding those involved in spinoffs, mergers and similar changes—among the top 500 by sales. As of December last year, total headcount at these companies was 1,625,526, down 6,729 (0.4%) from a year earlier (1,632,255). Employment increased at 222 companies (46.6%), and among them, 74.3% (165 companies) added fewer than 100 employees. Employment decreased at 249 companies (52.3%). CJ Olive Young posted the largest increase, adding 2,518 employees (21.1%), followed by SK Hynix, which added 2,188 (6.9%).

◆ Figure skating’s Cha Jun-hwan scores 92.72 in short…Advances to free skate in 6th

Cha Jun-hwan (Seoul Metropolitan Government), a leading South Korean men’s singles figure skater, placed sixth in the short program of the 2026 Milan–Cortina d’Ampezzo Winter Olympics individual event, advancing to the free skate. In the men’s singles short program held at the Milan Ice Skating Arena in Italy, Cha earned a technical element score (TES) of 50.08 and a program component score (PCS) of 42.64 for a total of 92.72. Ilia Malinin (U.S.) took first with 108.16, followed by Yuma Kagiyama of Japan (103.07) and France’s Adam Siao Him Fa (102.55).

◆ South Korea’s surging snowboard team sends out gold-medal contender Choi Ga-on

In snowboarding, which has led South Korea’s early medal race at the 2026 Milan–Cortina d’Ampezzo Winter Olympics, gold-medal contender Choi Ga-on (Sehwa Girls’ High School) will compete. Choi will take part today in the women’s halfpipe qualifiers at the Livigno Snowpark in Italy. Among snowboarding events—where Kim Sang-gyeom (High1, silver) in men’s parallel giant slalom and Yoo Seung-eun (Seongbok High School, bronze) in women’s big air delivered South Korea’s first and second medals of the Games—the event initially viewed as offering the strongest medal prospects was women’s halfpipe. Choi leads the women’s halfpipe standings this season, posting three wins on the 2025–2026 FIS Snowboard World Cup.

◆ Cloudy nationwide, clearing later…Highs up to 12°C

On Wednesday the 11th, the country is expected to be mostly cloudy before gradually clearing from late afternoon. Until the morning, some parts of Jeju may see rain or snow. The capital region, inland and mountainous areas of Gangwon, the Chungcheong region, western inland Gyeongbuk, the Jeolla region, and western inland Gyeongnam may see raindrops of less than 0.1 mm or flurries of less than 0.1 cm. Forecast precipitation is around 1 mm in Jeju, with expected snowfall around 1 cm in Jeju’s mountain areas. Daytime temperatures are expected to be relatively mild at 4–12°C.

Oh Jeong-min, Hankyung.com reporter blooming@hankyung.com