Analyst Highlights
- Equities: US indices closed higher for the week; Nasdaq outperformed while small caps led, signaling renewed risk appetite and broader participation.
- Rates & Fed: Traders priced almost no chance of a January cut; inflation expectations firmed, while Fed independence concerns pressured the dollar and lifted havens.
- Credit: US investment-grade issuance hit $88B, the busiest week since 2020, with heavy oversubscription pointing to strong demand for high-quality yield.
- Housing: US housing starts fell to the lowest since May 2020 as high mortgage rates and prices constrained demand, led by a sharp multifamily slowdown.
- Commodities & FX: Copper pushed toward record highs on supply concerns and a weaker dollar, while gold extended gains on haven demand and currency skepticism.
- Geopolitics & Risk: Ukraine escalated strikes on Russian energy assets as Russia targeted western Ukraine, keeping NATO risk perceptions elevated.
IPO’s in the week
- Art Technology Acquisition Corp. (ARTCU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company targeting business combinations across technology, art, financial services, and adjacent innovation-led sectors, priced its IPO at $10.00 per share on January 6, 2026, offering 22,000,000 shares to raise $220.0M for a future merger or acquisition.
- Black Spade Acquisition III Co (BIIIU, NYSE) — A Hong Kong–based blank-check company (SPAC) seeking a business combination, with a stated focus on opportunities at the intersection of leisure/entertainment and digital financial infrastructure (including Web3/blockchain themes), priced its IPO at $10.00 per share on January 6, 2026, offering 15,000,000 shares to raise $150.0M for a future merger or acquisition.
- Soren Acquisition Corp. (SORNU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company primarily targeting healthcare businesses, priced its IPO at $10.00 per share on January 7, 2026, offering 22,000,000 shares to raise $220.0M for a future merger or acquisition.
- BUDA Juice, Inc. (BUDA, NYSE American) — A Texas-based cold-pressed juice and wellness beverage company supplying grocery retailers, priced its IPO at $7.50 per share on January 8, 2026, offering 2,666,667 shares to raise ~$20.0M to support growth and expansion.
- Bleichroeder Acquisition Corp. II (BBCQU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company targeting North American and European businesses in disruptive growth sectors, priced its IPO at $10.00 per share on January 8, 2026, offering 25,000,000 shares to raise $250.0M for a future merger or acquisition.
- Lafayette Digital Acquisition Corp. I (ZKPU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company targeting technology and financial services, with emphasis on blockchain-enabled financial infrastructure, digital assets, fintech/payments, AI-enabled financial software, and cybersecurity, filed for an IPO at $10.00 per share on January 9, 2026, planning to offer 25,000,000 shares to raise $250.0M for a future merger or acquisition.
- Atlas Critical Minerals Corp. (ATCX, Nasdaq Capital) — A Marshall Islands–incorporated mineral exploration company focused on critical minerals projects in Brazil (including rare earths, graphite, titanium, copper, and nickel), filed for an IPO at $8.00 per share, planning to offer 1,200,000 shares to raise $9.6M for exploration and development activities.
- Aktis Oncology, Inc. (AKTS, Nasdaq Global Select) — A clinical-stage oncology company developing targeted radiopharmaceuticals for solid tumors, priced its IPO at $18.00 per share on January 9, 2026, offering 17,650,000 shares to raise ~$317.7M to advance its radiopharmaceutical pipeline and manufacturing capabilities.
Markets Weekly
- S&P 500 closed at 6,966.28, up 64.23 points (+0.93%) for the week.
- Russell 1000 ETF closed at 380.58, up 3.53 points (+0.94%) for the week.
- Russell 2000 closed at 2,624.22, up 76.30 points (+2.99%) for the week.
- Russell 3000 closed at 3,963.17, up 39.92 points (+1.02%) for the week.
- CBOE closed at 14.49, down 0.41 points (-2.75%) for the week.
- Dow Jones closed at 49,504.07, up 526.89 points (+1.08%) for the week.
- Nasdaq closed at 23,671.35, up 275.53 points (+1.18%) for the week.
- Bitcoin closed at 90,827.46, down 3,055.09 points (-3.25%) for the week.
- Ethereum closed at 3,118.89, down 107.24 points (-3.32%) for the week.
- Solana closed at 139.49, up 1.50 points (+1.09%) for the week.
- XRP closed at 2.0711, down 0.2777 points (-11.82%) for the week.
- Gold closed at 4,490.30, up 53.40 points (+1.20%) for the week.
- Silver closed at 78.88, up 2.72 points (+3.57%) for the week.
- WTI crude closed at $59.12, up $0.80 (+1.37%) for the week.
- Brent crude closed at $63.34, up $1.58 (+2.56%) for the week.
- Traders now see almost no chance of a Fed rate cut this month after strong labor data, with easing expectations pushed to June.
- US stock futures fell and the dollar weakened as Fed independence fears grew after Powell cited indictment threats and DOJ subpoenas over renovations.
- US stocks hit fresh record highs in a strong first week of 2026, as growth optimism held and traders still priced rate cuts later.
- Magnificent Seven leadership is fading as investor interest broadens across the S&P 500, with AI-spend payback doubts and slower profit growth.
- US inflation likely picked up in December, with core CPI seen at 2.7% YoY, supporting a near-term Fed hold.
- Bond traders’ 2026 steepener bet gained traction after softer US job growth, widening the 2s10s curve as markets kept rate-cut hopes alive.
- US housing starts fell to the lowest since May 2020, with multifamily construction sliding sharply as high mortgage rates and prices constrain demand.
- Trump ordered Fannie and Freddie to buy $200B of mortgage bonds to lower mortgage rates, though analysts doubt impact.
- China A-shares turnover hit a record $516B as Shanghai and Shenzhen volumes surged, extending a three-week rally and lifting the Shanghai Composite.
- US investment-grade bond issuance hit $88B, the busiest week since 2020, with deals heavily oversubscribed as investors snapped up credit.
- ECB’s Lane said the euro could gain portfolio share as investors question the dollar under US policy shifts, boosting demand for euro safe assets.
- Bank of Japan signaled it’s still eyeing further rate hikes, as regional conditions hold steady and firms plan wage and price increases.
- UK gilts logged their best run in months as easing inflation and reduced long-term borrowing boosted bets on Bank of England rate cuts.
- Copper climbed toward record highs on supply worries and a weaker dollar, with aluminum and tin also rising to their highest since 2022
Politics Weekly
- Trump demanded a 50% jump in US defense spending to $1.5T for 2027, saying tariff revenues would fund it.
- US may ease Venezuela oil sanctions as soon as next week, Treasury Secretary Bessent says, to enable crude sales and repatriate proceeds.
- Trump’s renewed push to control Greenland is unnerving Europe, raising fears of a NATO fracture and exposing EU security limits.
- Trump plans a Gaza “Board of Peace” to steer post-war governance, replace Hamas, and mobilize foreign security forces and funding amid fragile truce.
- US struck multiple ISIS targets across Syria after December killings of US troops, signaling renewed counterterror operations and potential escalation risks.
- Trump was briefed on military strike options against Iran, including nonmilitary sites, as the White House weighs escalation steps.
- Iran warned the US and Israel against intervening as nationwide protests entered a third week, with fatalities rising and tensions escalating.
- Russia launched an Oreshnik strike near Lviv, signaling it can hit across Europe and renewing NATO threat perceptions.
- Ukraine struck three Lukoil drilling platforms in the Caspian Sea and hit a Buk-M3 launcher in occupied Luhansk, escalating pressure.
Technology Advancements in the week
- Meta signed multi-gigawatt nuclear power deals to supply AI data centers, underscoring Big Tech’s race to secure reliable energy for AI expansion.
- OpenAI and SoftBank invested $1B in SB Energy to expand AI data-center capacity, backing a planned 1.2GW Texas site.
- Torq raised $140M at a $1.2B valuation for its AI-driven security operations platform, signaling continued funding for cyber automation tools.
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