Stocks Rally on AI Spending Optimism

Threats to stocks and the dollar remain. President Trump has threatened new 100% tariffs on US imports from Canada, the possibility of a US government shutdown over ICE funding, and lingering concerns about Greenland. In addition, there is political uncertainty about the Fed, as the FOMC is expected to leave rates unchanged at today’s meeting, potentially drawing new threats from Mr. Trump for refusing to cut rates further.US MBA mortgage applications fell -8.5% in the week ended January 23, with the purcha ...