New York, New York
— January 25, 2026

What We’re Watching: Week of January 26th

As a snowstorm rolls across much of the East Coast, we’re sliding, quite literally, into the new trading week. Here’s what we’re watching as the week gets underway.

1. Earnings Take Center Stage

Earnings remain the main event.

From Sandisk’s epic run to Tesla’s latest updates around Optimus, this week brings a wide range of narratives across tech and industrials. We’re closely tracking results and commentary from Meta, Apple, Microsoft, and ASML, all of which sit at the center of AI, semiconductors, and global growth expectations.

Beyond the headline numbers, guidance and tone will matter most, especially around AI spending, margins, and demand visibility as markets reassess valuations.

2. Government Policy and Shutdown Risk

On the macro front, attention turns back to Washington.

The key question: Does the Senate pass the DHS spending bill, or are we staring down another potential government shutdown by the end of the week? Markets have largely treated shutdown risk as background noise in recent years, but with positioning stretched and volatility low, policy surprises can still matter at the margin.

We’ll be watching closely to see whether this becomes a short-term headline risk or quietly resolves itself, as it often does.

3. Gold at a Crossroads

Finally, keep an eye on gold.

The precious metal has been on a strong run, and the big question now is whether we plow through the $5,000 level or finally encounter some meaningful resistance. Gold’s move continues to reflect a mix of macro uncertainty, real rates, and positioning, and a plateau here wouldn’t be surprising after such strength.

Whether momentum continues or cools off could say a lot about broader risk sentiment.

Final Thoughts

Between a snow-covered East Coast and a packed market calendar, it’s shaping up to be an interesting week. Stay warm out there, enjoy the snow if you’ve got it, and keep an eye on the data.

Happy sledding, happy trading.

Be good.