Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting with competent advisors before making any financial decisions, particularly in relation to investments in cryptocurrencies and CFDs [1]. Group 1 - The website provides general news, personal analysis, and third-party materials intended for educational and research purposes [1]. - It explicitly states that the information should not be interpreted as a recommendation or advice for investment actions [1]. - The accuracy and reliability of the information are not guaranteed, and users are cautioned against relying solely on the content provided [1]. Group 2 - The website discusses the complexities and high risks associated with cryptocurrencies and CFDs, highlighting the potential for significant financial loss [1]. - It encourages users to conduct their own research and fully understand the instruments and risks involved before making investment decisions [1].

This Fed horse race has swung a bunch of different ways since the process began last September. Kevin Walsh is a former Fed governor, has a reputation as a bit of a maverick. He believes, basically that the Fed needs kind of a housecleaning.This isn't the first time you've heard me in the last decade say we need regime change at the Fed. It's not just about a person. It's about an approach to economics. It's about approach to what they're doing.And I'm troubled when I see them moving the goalposts. He's mos ...

If Powell was trying to calm things down, it didn’t work on the hard‑money crowd. Peter Schiff, who has been hammering the case for gold and silver for years, immediately framed the market’s reaction as a referendum on the Fed.When I put those pieces together, it feels like the Fed is quietly saying, “We see it, but we’re not going to let gold bully us,” which is not the message metals traders wanted to hear.The combination of rate‑cut expectations, geopolitical stress and central‑bank diversification has d ...

Core Insights - The article provides a comprehensive market analysis focusing on the S&P 500 index, highlighting its performance and trends in the current investment landscape [1] Group 1: Market Performance - The S&P 500 has shown significant fluctuations, reflecting broader economic conditions and investor sentiment [1] - Recent data indicates a notable increase in the index, with a percentage change that suggests a bullish trend in the market [1] Group 2: Investment Opportunities - The analysis identifies sectors within the S&P 500 that are poised for growth, presenting potential investment opportunities for stakeholders [1] - Specific companies within these sectors are highlighted as strong performers, indicating favorable conditions for investment [1] Group 3: Economic Indicators - Key economic indicators influencing the S&P 500's performance are discussed, including interest rates and inflation trends [1] - The article emphasizes the correlation between these indicators and market movements, providing insights for future investment strategies [1]

Economic Indicators - The dollar index (DXY) reached a 4-week high, increasing by +0.24% due to positive US economic news [1] - US job cuts in December fell by -8.3% year-over-year to 35,553, marking a 17-month low, indicating a stronger labor market [2] - Weekly initial unemployment claims rose by +8,000 to 208,000, which was better than the expected 212,000, suggesting a robust labor market [3] - Q3 non-farm productivity increased by +4.9%, close to the expected +5.0%, representing the largest rise in 2 years [3] - Q3 unit labor costs decreased by -1.9%, a more significant decline than the anticipated -0.1% [3] - The US trade deficit unexpectedly shrank to -$29.4 billion in October, better than the expected widening to -$58.7 billion, marking the smallest deficit in 16 years [3] Market Expectations - Markets are pricing in a 12% chance of a -25 basis point rate cut at the upcoming FOMC meeting on January 27-28 [4] - The Federal Reserve is expected to cut interest rates by approximately -50 basis points in 2026, while the Bank of Japan is anticipated to raise rates by +25 basis points in the same year [4] Dollar Pressure Factors - The dollar is under pressure as the Fed increases liquidity by purchasing $40 billion a month in T-bills since mid-December [5] - Concerns regarding President Trump's potential appointment of a dovish Fed Chair are contributing to bearish sentiment for the dollar, with Kevin Hassett being viewed as the most dovish candidate [5] Eurozone Impact - The EUR/USD pair fell to a 4-week low, decreasing by -0.21% due to the strength of the dollar [6] - An unexpected decline in Eurozone economic confidence and easing producer price pressures are seen as dovish for ECB policy, negatively impacting the euro [6]

Core Viewpoint - The outlook for investors in 2026 includes considerations of market volatility, Fed policy, equity risks, and the potential for attractive income from bond yields [1] Group 1: Fed Policy - The Federal Reserve's policy will play a crucial role in shaping market conditions and investor strategies moving forward [1] Group 2: Equity Risks - There are significant risks associated with equity markets that investors need to be aware of as they plan their investment strategies [1] Group 3: Bond Opportunities - Bond yields are expected to remain attractive, providing potential income opportunities for investors despite market volatility [1]

Group 1: Federal Reserve Leadership and Rate Trajectory - The upcoming change in Fed chair leadership in 2026 is significant for the rate trajectory and overall macroeconomic environment [1][2][3] - A dovish Fed chair may lead to potential rate cuts, but it is unlikely that rates will drop to 1% or 2% [2][4] - The new Fed chair's ability to influence the committee's stance on rates is crucial, as they only have one vote and need committee support for major changes [3][4] Group 2: Inflation Concerns and Economic Data - Inflation has taken a backseat recently, but its potential resurgence in 2026 remains uncertain [5][6] - Current inflation data may be distorted, complicating predictions for future inflation trends [7][8] - The impact of tariffs on inflation is still unclear, with opinions divided on whether they will have a lasting effect [14] Group 3: Market Dynamics and Economic Indicators - The oil and gas market shows signs of flagging inflation, while precious metals are reaching record highs, indicating mixed signals in the economy [11][12] - The Fed's balance sheet expansion is not intended to be stimulative but may have stimulative effects on the economy [13] - Lower interest rates could benefit housing and reduce the interest burden on U.S. Treasury debt, positively impacting the real economy [22][25]

Okay, let's uh let's keep doing this, Steve. It's it's pretty interesting. For more on all this data, I want to bring in uh Hyundai Yuba Yuva, uh senior US economist at BFA Securities.You're sitting there with Steve. What do you what do you what do you think of what you just heard. >> I think this is a very very impressive GDP report.As Steve correctly pointed out, 8% essentially nominal GDP growth. Consumer spending really beat expectations. This is pretty unusual.I mean we had the monthly data for July, A ...

Group 1 - Gold stocks have strengthened again, with Shandong Gold rising by 5.25% to HKD 38.06, Zhaojin Mining up by 3.72% to HKD 33.48, Lingbao Gold increasing by 3.54% to HKD 19.57, and Chifeng Jilong Gold up by 2.95% to HKD 32.78 [1] - On December 22, COMEX gold prices broke through USD 4450, reaching a new high [1] - Federal Reserve Governor Milan warned that if the Fed does not continue to lower interest rates next year, it may increase the risk of an economic recession, indicating a potential shift towards a more dovish policy [1] Group 2 - Xinyuan Fund stated that the foundation for a gold bull market remains unchanged, although short-term volatility may increase [2] - If the US core PCE continues to decline, it will solidify expectations for two 25 basis point rate cuts in the first half of 2026, with gold prices likely to test the USD 4400 level [2] - The upcoming nomination of a new Fed chairman by Trump is expected to lean more dovish, alongside expanding US fiscal deficits and high debt levels, which will enhance the long-term value of gold [2]

Now to shift gears and get some insights on the news that is shaping the overall markets. For that, we'd like to welcome in Dale Smothers, president and CEO at RDS Wealth Management. Dale, thanks so much for being with us on this Friday.I mean, looking back at the year that was in 2025. Why do you think the this bull market is still met with so much caution. >> Jenny, you're exactly right.It was the uh climbing the wall of worry is an analogy that I like to use. This this market has been resilient. The cons ...