Weekly Market Recap | Jan 12 – Jan 18

Analyst Highlights

• Equities: US stocks were mixed as S&P 500 dipped 0.5% and Nasdaq fell 0.9%, while Russell 2000 rose 1.6%, signaling rotation toward small-cap value.
• Rates: Treasuries sold off as Trump’s Fed-chair signals lifted Warsh odds, trimming 2026 cut bets and pushing the 10-year yield up to 4.22%.
• Crypto: Risk appetite improved as Bitcoin gained 4.5% and Ether jumped 8.0%, supported by the biggest Bitcoin ETF inflow since October (~$760M).
• Commodities: Metals outperformed with silver up 4.6% while gold slipped 0.2%; oil was steady-to-mixed as Brent edged higher and WTI eased.
• Geopolitics/Trade: Trump’s Greenland-linked tariffs on eight NATO allies raised EU retaliation risks and weighed on Europe’s risk sentiment into the open.
• Tech/AI: Capital formation stayed aggressive with Anthropic’s reported $25B raise push, Skild AI’s $1.4B round, Meta smart-glasses scaling, and Micron’s $1.8B Taiwan fab deal.

IPO’s in the week

• Green Circle Decarbonize Technology Ltd (GCDT, NYSE American) — A Hong Kong–based decarbonization and energy-efficiency technology company providing phase-change thermal energy storage (PCM-TES) solutions for HVAC and cooling systems, priced its IPO at $4.00 per share on January 13, 2026, offering 5 million shares to raise $10.0M to support commercialization and expansion of its energy-saving technologies across Asia and the Middle East.
• OneIM Acquisition Corp. (OIMAU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company (SPAC) sponsored by an affiliate of OneIM, a global alternative investment manager, priced its IPO at $10.00 per share on January 14, 2026, offering 25,000,000 shares to raise $250.0M to pursue a merger or business combination across industries.
• FG Imperii Acquisition Corp. (FGIIU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company (SPAC) targeting an initial business combination, with a primary focus on North American financial services, filed to price at $10.00 per share, offering 20,000,000 shares to raise $200.0M for a future merger or acquisition.
• Infinite Eagle Acquisition Corp. (IEAGU, Nasdaq Global) — A Cayman Islands–incorporated blank-check company (SPAC) seeking a merger or business combination, with no stated industry or geographic focus, filed at $10.00 per share with 30,000,000 shares to raise $300.0M, aiming to leverage the team’s global relationships and operating experience.

Markets Weekly

1. S&P 500 closed at 6,940.01, down 26 points (-0.53%) for the week.
2. Russell 1000 (IWB) closed at 44, down 1.76 points (-0.46%) for the week.
3. Russell 2000 closed at 2,677.74, up 05 points (+1.59%) for the week.
4. Russell 3000 closed at 3,954.54, down 81 points (-0.37%) for the week.
5. CBOE VIX closed at 86, up 0.74 points (+4.9%) for the week.
6. Dow Jones closed at 49,359.33, down 87 points (-0.47%) for the week.
7. Nasdaq Composite closed at 23,515.39, down 51 points (-0.92%) for the week.
8. Bitcoin closed at $95,270.98, up $4,077.99 (+4.47%) for the week.
9. Ethereum closed at $3,338.31, up $245.98 (+8.0%) for the week.
10. Solana closed at $142.38, up $3.24 (+2.3%) for the week.
11. XRP closed at $2.0565, up $0.0040 (+0.19%) for the week.
12. Gold closed at $4,595.40, down $8.90 (-0.19%) for the week.
13. Silver closed at $88.54, up $3.93 (+4.6%) for the week.
14. WTI crude closed at $59.34, down $0.16 (-0.3%) for the week.
15. Brent crude closed at $64.13, up $0.26 (+0.4%) for the week.

• Treasuries fell as Trump Fed-chair remarks boosted Warsh odds, trimming rate-cut bets; 10-year yield rose to 22%.
• China rare-earth exports fell in December as tensions with Japan raised scrutiny on potential shipment controls, highlighting Beijing’s leverage in strategic materials.
• European stocks face pressure as Trump’s Greenland-related tariff threats weigh on risk sentiment, with EU retaliation risks rising.
• Bitcoin ETFs saw their biggest inflow since October’s crypto crash, pulling in about $760M as Bitcoin rose ~10% YTD and Ether also rallied.
• Bank of Japan will begin selling its ETF and REIT holdings next week, starting at about ¥330B per year.

Politics Weekly

• Trump administration moves to reshape the Fed as Powell faces a DOJ probe over HQ renovations; Trump expected to name a successor soon.
• Trump imposed 10% tariffs on eight NATO allies over Greenland support, threatening a hike to 25% in June unless a purchase deal is reached.
• Carney said Canada is concerned by Trump’s Greenland escalation, backing Denmark and Greenland’s sovereignty and framing Arctic security as a NATO responsibility.
• Carney called China a more predictable trade partner than the US, widening the policy gap as Canada opens EV quotas and Chinese auto investment.
• Canada allows limited Chinese EV imports, diverging from US policy; auto executives warn of supply-chain erosion and job losses.
• EU Parliament weighs delaying/conditioning approval of a US trade deal unless Trump drops Greenland takeover threats; lawmakers split, raising fresh uncertainty.
• EU and Mercosur signed a landmark free-trade deal after 25 years, creating a 700M+ consumer market; ratification still pending.
• Iran’s Khamenei acknowledged “thousands” killed in protests, blaming the US; Trump called for new leadership as unrest and crackdown intensify.
• Brazil’s Lula condemned Trump’s Venezuela operation as undermining sovereignty and international law, warning it could destabilize trade and trigger refugee flows

Technology Advancements in the week

• Sequoia plans major Anthropic investment as startup seeks $25B raise at $350B valuation; GIC and Coatue reportedly add $1.5B each.
• Skild AI raised about $1.4B, valuing the robotics startup above $14B, to scale its “Skild Brain” robot software and deployments across environments.
• Meta and EssilorLuxottica are discussing doubling Ray-Ban AI-glasses output, targeting 20M+ annual capacity by end-2026 as demand surges.
• ServiceNow agreed to buy cybersecurity startup Armis for $7.75B, its largest deal, to expand cyber capabilities by integrating Armis threat data.
• Micron signed an LOI to buy Powerchip’s P5 fab site in Taiwan for $1.8B, expanding DRAM capacity with phased ramp from 2Q close.

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