Gold-linked ETFs jumped to fresh 52-week highs on Wednesday as bullion's relentless rally powered inflows into both physical and mining-focused products, with investors seeking shelter from mounting political and monetary uncertainty.The GS Physical Gold ETF (NYSE:AAAU), GraniteShares Gold Trust (NYSE:BAR) and Themes Gold Miners ETF (NASDAQ:AUMI) all touched new one-year peaks, tracking a surge in spot gold that has rewritten the record books multiple times this week. On Wednesday, gold touched fresh all-ti ...

Market Overview - U.S. equity markets experienced a downturn on January 14th, 2026, with major indexes declining as investors reacted to mixed bank earnings, new economic data, and ongoing geopolitical tensions [1][2] - The Nasdaq Composite led the declines, falling approximately 1.6%, while the S&P 500 and Dow Jones Industrial Average also finished lower [2] Major Market Indexes Performance - The Dow Jones Industrial Average closed down 285 points, or 0.6%, after a previous 400-point drop [2] - The S&P 500 declined by about 1% as of midday, marking its second consecutive session of losses after reaching an all-time high [2] - The Nasdaq Composite saw the steepest drop, falling approximately 1.6% by midday, primarily due to declines in prominent tech stocks [2] Economic Indicators - The 10-year Treasury yield eased to around 4.14%, down from above 4.18%, indicating a flight to safety among investors [3] - Gold reached an all-time high of $4,650 per ounce, while silver crossed the $90-an-ounce mark, reflecting increased demand for safe-haven assets amid market uncertainty [3] - The Producer Price Index (PPI) for November rose by 0.2%, slightly below the expected 0.3% increase, while core PPI remained flat, suggesting easing price pressures [6] - U.S. retail sales for November increased by 0.6%, exceeding the predicted 0.4% rise, indicating resilient consumer demand [6] Upcoming Market Events - The Federal Reserve is set to release its "Beige Book" report, which will provide insights into economic activity and could influence future monetary policy decisions [4] - The fourth-quarter earnings season is ongoing, with major companies like Taiwan Semiconductor Manufacturing Company, Morgan Stanley, Goldman Sachs, and BlackRock expected to report soon [5] Major Stock News and Developments - In the financial sector, Wells Fargo shares fell by 4.5% to 5.6% after reporting weaker-than-expected results, while Bank of America saw a decline of 3.5% to 5% despite stronger profits [7] - Citigroup shares dropped by 3.5% to 4.6% following its profit report, contributing to downward pressure on the broader market [7] - In the technology sector, Nvidia shares fell by 2% to 2.1%, while Broadcom dropped 5%, and other tech giants like Tesla and Amazon also experienced declines [9] - Energy stocks showed strength, with Exxon Mobil rising 2.6% and Chevron climbing 2.1%, attributed to rising oil prices amid geopolitical tensions [10] Other Notable Movers - Netflix stock slipped over 2% amid reports of a potential all-cash bid for Warner Bros. Discovery's HBO Max [11] - Biogen shares tumbled 4.3% to 6% due to anticipated profit impacts from R&D expenses [11] - Bitcoin continued its strong performance, trading around $97,400, positively affecting crypto-linked stocks [11]

Inflation Trends - Inflation has continued to cool, with World Economy Weighted Inflation decreasing from 4.4% to 3.3% in 2025, aided by low supply chain pressures and moderated wage growth [1][4] - The setup for an inflationary spike similar to 2021/22 is not present, as global money growth is rising but velocity is falling [2] Economic Conditions - Inflation in the 2-4% range is favorable for equities, providing companies with pricing power and top-line growth, but concerns arise when inflation approaches 4% [3] - The U.S. faces higher inflation risks due to aggressive fiscal spending, erosion of central bank independence, and a positive output gap, while other countries like Germany, Japan, France, and Canada have negative gaps [4][5] Long-term Inflation Outlook - Inflation has eroded purchasing power by over 20% in the past four years, and while portfolio returns have kept pace, long-term inflation is expected to be higher and more volatile than in the 2010s [6] - Secular factors are becoming more inflationary, with globalization trends shifting from disinflationary to inflationary due to tariffs and supply chain diversification [7] Policy and Debt Implications - Erosion of central bank independence poses risks for monetary policy effectiveness, particularly in the U.S. and some developing countries, while fiscal spending is rising globally, which may increase inflation [8] - Total debt is disinflationary as it crowds out investment, and significant levels of debt exist in the economy [9] Technological Impact - Technology that enhances productivity is generally disinflationary, but current capital expenditures on AI infrastructure are inflationary, contributing to inflationary cyclicality [10] Investment Strategies - To mitigate the risks of higher and more volatile inflation, equities, especially those with dividend growth, are recommended as a defense, along with real asset exposure [11]

Economic Outlook - The US economy is demonstrating "resilience," with Minneapolis Fed President Neel Kashkari indicating no current impetus for the Fed to cut interest rates this month [1] - The November PPI final demand increased by 3.0% year-over-year, surpassing expectations of 2.7% [1] - The dollar found support from stronger-than-expected US economic data, including retail sales and producer prices [1] Federal Reserve Insights - The Fed Beige Book reported a slight to modest pace of economic activity growth across most regions since mid-November, marking an improvement from previous reports [2] - Philadelphia Fed President Anna Paulson anticipates inflation moderating and growth around 2% this year, suggesting modest rate adjustments may be appropriate later in the year [3] - Markets are currently pricing in a 5% chance of a 25 basis point rate cut at the upcoming FOMC meeting on January 27-28 [3] Currency Market Dynamics - The dollar index fell by 0.03% on Wednesday, pressured by a rally in the yen and concerns regarding Fed independence [2] - The dollar is expected to face ongoing weakness as the FOMC is projected to cut interest rates by approximately 50 basis points in 2026 [4] - The dollar is under pressure due to increased liquidity measures by the Fed, including a $40 billion monthly purchase of T-bills [5] Precious Metals Market - Precious metals, including gold and silver, surged due to rising tensions in Iran and safe-haven demand, with gold reaching an all-time high of $4,635.00 per ounce [11][12] - Strong central bank demand for gold is evident, with China's PBOC reserves increasing by 30,000 ounces to 74.15 million troy ounces in December [17] - Fund demand for precious metals remains robust, with gold and silver ETF holdings reaching multi-year highs [18]

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Core Viewpoint - Inflation remains the primary reason many households are experiencing financial pressure [1] Group 1 - The ongoing inflationary environment is significantly impacting household financial stability [1]

Core Viewpoint - Inflation pressure is increasing across the country as the year concludes, as indicated by the Federal Reserve's beige book report [1] Group 1: Economic Conditions - Cost pressures due to tariffs were consistently noted across all districts in the report [1]

Group 1 - The article celebrates the fifth anniversary of High Yield Investor by offering a 30-day money-back guarantee to attract new investors [1] - Current market conditions are characterized by persistent inflation, concerns about a weakening labor market, and rising geopolitical uncertainty, leading to high stock market valuations [1] - High Yield Investor focuses on balancing safety, growth, yield, and value in its investment strategies, offering various portfolios and educational content [1] Group 2 - Samuel Smith, a lead analyst with a diverse background, leads the High Yield Investor group alongside Jussi Askola and Paul R. Drake [1] - The service includes real-money core, retirement, and international portfolios, along with regular trade alerts and an active chat room for investors [1]

Group 1: Earnings Overview - The Q4 earnings season is expected to begin with major banks like JPMorgan Chase, BNY Mellon, Bank of America, Wells Fargo, and Citigroup reporting results, with corporate earnings expectations strengthening over recent quarters [1] - Total S&P 500 earnings for Q4 2025 are projected to rise by 7.9% year over year, supported by an 8.2% increase in revenues, marking the 10th consecutive quarter of positive earnings growth for the index [2] Group 2: Sector Performance - Aerospace, tech, and finance sectors are anticipated to perform well in Q4, while seven of the 16 Zacks sectors are expected to underperform, notably Autos with a projected earnings decline of 24%, Transportation with an 8.5% decline, and Consumer Staples with a 4.1% decline [3] - The Auto sector is expected to see a 24% decline in earnings due to a 7.3% decrease in revenues, following a 20.7% earnings loss in Q3 2025 despite 4% revenue growth [4] - The Transportation sector is projected to lose 8.5% in earnings with only 1.2% revenue growth, following a minimal earnings gain of 0.3% in Q3 [7] - The Consumer Staples sector is expected to post a 4% earnings decline despite 2.4% revenue growth, following a 0.9% earnings drop in Q3 [8] Group 3: Sector Challenges - The Auto sector faces challenges from increased costs due to tariffs and softening demand, with lower-income buyers likely to pull back on purchases [6] - The Transportation sector is experiencing earnings pressure from subdued freight demand, attributed to earlier inventory buildup from trade policy uncertainty [7] - Consumer Staples companies are under pressure from inflation, a soft labor market, and falling affordability, impacting their pricing power [8]

Economic Indicators - The November Producer Price Index (PPI) showed a month-over-month increase of +0.2%, up from a revised +0.1% in October, but below the consensus estimate of +0.3% [2] - The core PPI, excluding food and energy, remained unchanged at 0.0% for November, down from a revised +0.3% in October [3] - Year-over-year PPI increased to +3.0% from a revised +2.8%, marking the first time it has reached a "3-handle" since September [4] - The core PPI year-over-year also reached +3.0%, 10 basis points higher than the unchanged +2.9% from October [4] - Excluding food, energy, and trade, the year-over-year PPI rose to +3.5%, the highest since March of the previous year [4][5] Retail Sales - U.S. Retail Sales for November reported a headline increase of +0.6%, surpassing the estimated +0.4% and a significant rise from the revised -0.1% in the prior month [6] - Excluding autos, Retail Sales still showed a strong increase of +0.5%, more than double the revised +0.2% from October [6] - Core Retail Sales, excluding autos and gasoline, were +0.4% for the month, down from +0.6% in the previous report, indicating continued consumer spending [7] Bank Earnings - Major banks reported Q4 earnings, with Citigroup, Bank of America, and Wells Fargo all exceeding bottom-line estimates: Citigroup at +$1.81 per share, Bank of America at $0.98, and Wells Fargo at $1.76 [8] - Citigroup benefited from reduced provisions for troubled loans, while Wells Fargo experienced a revenue miss due to higher-than-expected severance costs [9] - Bank of America reported an increase in Net Interest Income for the quarter, with both BofA and Citi having only missed bottom-line estimates once in the past five years [9]