Summary
- Major indices experienced varied movements this week following geopolitical developments, strong US employment figures, and mixed but encouraging signs in inflation data.
- A relief rally ended the week as Treasuries slid, with the 10-year plunging as low as 4.64% on mixed CPI data.
- Sticky inflation could result in the Fed pausing cuts for January and March, and December’s Jobs Report revealed the addition of 256,000 jobs, surpassing expectations.
- Bitcoin surged alongside advancements in Financials like JPMorgan Chase (JPM), Citigroup(C), and Wells Fargo (WFC), which reported robust earnings and positively impacted the banking sector.
- Wildfires in California persist. Meanwhile, a cease-fire agreement between Israel and Hamas may introduce stability in the Middle East, affect energy markets, and reduce geopolitical tensions.
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TikTok: Countdowns Begin
Plans for a TikTok ban have gained attention, drawing considerable political and market interest. The Biden administration’s law demanding ByteDance (BDNCE) divest TikTok’s U.S. operations or face a ban takes effect on January 19th. TikTok’s ban is
- I am Steven Cress, Head of Quantitative Strategies at Seeking Alpha. I manage the quant ratings and factor grades on stocks and ETFs in Seeking Alpha Premium. I also lead Alpha Picks, which selects the two most attractive stocks to buy each month, and also determines when to sell them.
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