Schaeffers Investment Research·2026-01-16 17:17Market Overview - Wall Street faced geopolitical risks and central bank drama, with the Department of Justice opening a criminal investigation into Fed Chair Jerome Powell [1] - The financial sector struggled after President Trump proposed a 10% cap on credit card rates for one year [1] - Despite challenges, the Dow Jones Industrial Average and S&P 500 achieved record closes, with Alphabet reaching a $4 trillion market cap [1] Chip Sector Highlights - Taiwan Semiconductor Manufacturing reported record quarterly results, sparking excitement in the chip sector [3] - Nvidia remained popular among options traders, while Micron Technology's stock surged after a director purchased $7.8 million in shares [3] - HP shares fell to a five-year low following a downgrade from Barclays, contrasting with the positive momentum in other tech stocks [3] Corporate Deals - Walmart's stock reached new highs due to a partnership with Alphabet [4] - Allegiant Travel announced the acquisition of Sun Country Airlines for $1.5 billion [4] - Netflix's stock declined after making an all-cash offer for Warner Bros. Discovery [4] Upcoming Earnings and Economic Data - A holiday-shortened week is anticipated, with markets closed on Monday for Martin Luther King Jr. Day [5] - Key economic data, including S&P flash U.S. services and manufacturing PMIs, will be released [5] - Several companies, including 3M, Intel, Netflix, Procter & Gamble, and United Airlines, are set to announce quarterly earnings [5]