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1000 - Supreme Court opinion on tariffs (tentative)

Precious Metals Plays

+4.04%

Trading higher as a group in tandem with continued strength in gold and silver, both of which are rallying amid weakness in equities. The metals rally follows a Truth Social post from US President Donald Trump on Saturday, in which Trump called for escalating tariffs on select European countries until the US is allowed to make a deal for Greenland. Gold and silver are frequently viewed as safe haven investments in times of geopolitical uncertainty.

SLV, GLD, AG, HL, NEM

Crypto Stocks

-3.88%

Trading sharply lower as a group amid continued weakness in Bitcoin. The cryptocurrency is poised to post its sixth straight losing session as traders address escalating geopolitical tensions surrounding the attempted acquisition of Greenland by the US. Separately, the President of the NYSE Group announced that the New York Stock Exchange is developing a platform for trading and on-chain settlement of tokenized securities, including US-listed stocks and ETFs.

COIN, MSTR, MARA, RIOT, IBIT, ETHE, HUT, CLSK, IREN, CAN, HIVE

Netflix Inc (NFLX)

+1.06%

The company confirmed that it has amended its $27.75 per share bid for Warner Bros. Discovery to an all-cash offer, according to a regulatory filing. WBD shareholders are scheduled to vote on the proposed transaction by April 2026, following the filing of a preliminary proxy statement. The update comes hours before Netflix’s post-market earnings report for Q4 2025, when analysts expect the streaming company to post earnings of $0.55 per share and sales of $11.97 billion.

AppLovin Corp (APP)

-7.34%

Gapping down following the release of a forensic investigation by CapitalWatch which alleges that the company’s ad network may have been used as an alleged “ad-spend-as-laundering” loop linked to Tuandai.com and Cambodia’s Prince Group. The report also indicates “silent install” behavior tied to Array. This report follows a series of short reports about AppLovin in 2025 from the likes of Fuzzy Panda Research and Muddy Waters.

Tesla Inc (TSLA)

-2.17%

Data from Cox Automotive shows that the company’s Cybertruck sales in the US declined by nearly 50% year-over-year to just over 20,000 units. Notably, Cybertruck sales in Q4 2025 alone dropped by 68% year-over-year, representing escalating weakness in the latter half of the year.

United States Natural Gas Fund (UNG)

+14.71%

Gapping up amid indications of ongoing cold weather conditions in the US, with forecasters calling for “hazardous wind chills” across the Midwest and East Coast regions of the country. An “arctic intrusion”, or a condition whereby cold air from the arctic drifts south due to weakness in the polar vortex, is further predicted between January 26 and February 1. These forecasts suggest that heating will be in heightened demand in the coming days and weeks.

Apple Inc (AAPL)

-1.32%

The company’s iPhone shipments in China surpassed all others in the region in Q4 2025, growing by 28% year-over-year, as per a report from Counterpoint Research. The company’s market share in China grew from 16.8% in Q4 2024 to 21.8% in Q4 2025. Separately, Commercial Times and CNA reported that Apple plans to use TSMC’s 2nm process for the iPhone 18’s A20 chip and shift packaging from InFO to WMCM. WMCM capacity is expected to reach about 60,000 wafers per month by end-2026 and exceed 120,000 wafers per month in 2027.

Pfizer Inc (PFE)

-0.74%

The company will exit HIV specialist ViiV Healthcare in a deal that pays it about $1.9 billion, as Shionogi boosts its stake to 21.7% and GSK retains a 78.3% majority. The transaction, expected to close in 1Q 2026 pending approvals, simplifies ViiV’s ownership while supporting continued development of long-acting HIV treatments.

Intel Corp (INTC)

-1.24%

On watch after HSBC upgraded the stock from Hold to Buy and hiked its price target from $26 to $50, citing improving visibility as traditional server demand returns to growth. The firm expects server CPU shipments to rise 15–20% in FY26—well above Street estimates—driven by agentic AI, with further DCAI upside not yet fully priced in despite the stock’s YTD gains.

PDD Holdings Inc (PDD)

-4.43%

Bloomberg reported that China has expanded its investigation into the company following a reported altercation between company staff and regulators, sending more than 100 investigators to its Shanghai headquarters. The probe spans alleged issues including fraudulent deliveries and tax matters. This investigation has reportedly disrupted Lunar New Year marketing and delayed internal projects.

NVIDIA Corp (NVDA)

-2.00%

Uncertainty around the company’s H200 AI chip sales to China continues, with Inventec asserting that approval now appears stuck on the Chinese side despite US export clearance. Reports that Chinese customs have blocked the chip’s entry—potentially temporarily—raise near-term risks for Nvidia-linked AI server shipments produced in China.

Meta Platforms Inc (META)

-2.22%

Trading lower premarket after Britain’s Gambling Commission accused the company of allowing illegal online casino ads to run on Facebook and Instagram. The commission has alleged that Meta turns a blind eye while profiting from criminal advertisers. Meta pushed back, saying it enforces strict gambling ad policies and removes violating ads once they are identified.

Micron Technology Inc (MU)

-0.61%

On watch after signing a $1.8 billion deal to acquire Powerchip Semiconductor’s P5 fabrication site in Tongluo, Taiwan, adding significant DRAM capacity to meet rising global memory demand. The facility, set to begin production phases in 2027, will be supported by a strategic partnership with PSMC for post-wafer assembly and aims to bolster both companies’ positions in the memory ecosystem.

Quantum Stocks

-4.06%

On watch as a group after Bloomberg reported that Honeywell-backed Quantinuum is working with Morgan Stanley and JPMorgan on a potential IPO as soon as the first half of 2026. The offering could raise over $1.5 billion and value the quantum computing company at $15–20 billion, up from an almost $11 billion post-money valuation last September.

RGTI, IONQ, QUBT, QBTS, HON

Critical Metals Corp (CRML)

+8.90%

Gapping up after US President Donald Trump warned of escalating tariffs for select European countries should the US not be allowed to purchase Greenland. Critical Metals, which is scheduled to provide a business update on Thursday, January 22, recently released well-received results from its Tanbreez rare earths drilling campaign in Greenland. Approximately 19.5% of the stock’s float is sold short.