Thursday

• U.S. equity markets saw sector rotation on January 15, 2026, with investors moving from technology megacaps into value and small-cap positions after Trump announced 25% tariffs on certain semiconductor imports. Taiwan Semiconductor Manufacturing reported fourth-quarter earnings with a 35% profit increase and 2026 revenue guidance of approximately 30% growth.
• Trump indicated he would not pursue immediate military action against Iran, causing oil prices to decline approximately 3-4% and precious metals to retreat from record highs. The U.S. dollar strengthened as Trump confirmed he has no plans to remove Federal Reserve Chair Jerome Powell.
• U.S. retail sales rose 0.6% in November, exceeding expectations, while the United Kingdom’s economy grew 0.3% month-on-month and Germany returned to positive growth at 0.2% annually after two years of contraction.
• Bitcoin approached $97,000 on institutional inflows into spot exchange-traded funds and short-position liquidations totaling approximately $700 million. The Senate Banking Committee delayed discussions on the Digital Asset Market CLARITY Act following Coinbase’s withdrawal of support over stablecoin yield restrictions.

• Japan’s Nikkei 225 surged 1.48% to 54,341.23 on expectations of fiscal stimulus from a snap election, while Shanghai’s composite declined following margin requirement tightening by domestic exchanges. Gold reached $4,639.42 per ounce and silver broke $90 for the first time, driven by softer-than-expected U.S. inflation data and intensified geopolitical risks.
• Bitcoin surged above $95,000 following the December Consumer Price Index reading of 2.7%, triggering short liquidations exceeding $500 million. U.S. mortgage application volumes jumped 28.5% week-over-week amid declining rates, with 30-year contracts dropping to 6.18%.
• JPMorgan Chase shares declined despite exceeding profit estimates due to weaker investment banking revenue. Financial sector weakness persisted following President Trump’s proposal to cap credit card interest rates at 10%.

• U.S. stock markets reached fresh record highs on Monday, with the S&P 500 and Dow Jones closing at new peaks despite a Justice Department investigation into Federal Reserve Chair Jerome Powell regarding congressional testimony on building renovation costs. Global central bank leaders issued an unprecedented coordinated statement expressing solidarity with Powell.

• Gold surged to $4,630 per ounce and silver hit new all-time highs amid geopolitical tensions concerning Iran and investor concerns about Federal Reserve independence. President Trump announced a 25% tariff on countries conducting business with Iran, while oil prices rose to their highest levels in nearly two months with WTI crude trading around $60 per barrel.

• Tokyo’s Nikkei 225 surged 3.1% to break above 53,000 for the first time, driven by technology stocks and speculation about a snap election in Japan. South Korea’s KOSPI also reached record highs.

• JPMorgan Chase reported profits beating expectations with strong results from trading and asset management divisions, raising 2026 net interest income guidance above consensus. USD/JPY reached its highest level since July 2024 amid Bank of Japan monetary policy expectations

Monday

• The Department of Justice initiated a criminal investigation into Federal Reserve Chair Jerome Powell’s congressional testimony regarding Fed building renovations, prompting Powell to reject the probe as politically motivated retaliation for maintaining Fed independence. President Trump proposed a one-year credit card interest rate cap at 10% effective January 20, causing major banks and card issuers to experience notable premarket declines.
• Gold surged to record highs above $4,600 per ounce while silver reached historic peaks near $85 per ounce amid political conflict and geopolitical uncertainties involving Iran and Venezuela. The U.S. dollar weakened substantially, posting its largest decline in three weeks.