Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K

Economic

Summary:

Trump appoints crypto-friendly Mark Uyeda as acting SEC chair, signaling potential policy shifts for Ripple.

On Monday, January 21, President-elect Donald Trump continued his pro-crypto agenda, naming Commissioner Mark Uyeda as acting SEC Chair. Acting Chair Uyeda takes over from former Chair Gensler and will lead the agency during Paul Atkins’ confirmation process. The announcement could be a pivotal moment for Ripple and XRP.

Trump could choose from Republican Commissioners Uyeda or Hester Peirce, known for their crypto-friendly stances. Trump’s selection of Atkins as Chair solidifies a pro-crypto agenda for the Republican-led SEC.

Acting Chair Uyeda was under consideration for the agency’s top position before Trump nominated former Commissioner Paul Atkins as Chair. There could be a significant shift in the SEC’s enforcement policies from day one.

In November, Acting chair Uyeda shared his views on the SEC’s regulation through enforcement policy, saying,“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm. President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate.”

Acting Chair Uyeda could kick start the SEC’s change in crypto strategy as early as Thursday, January 23, at the SEC’s next Closed Meeting. The Ripple case will likely be among the enforcement actions that are up for review.

Acting Chair Uyeda and SEC Commissioner Peirce must decide whether to withdraw or pause the Ripple case. Last week, there were reports that the acting SEC Chair may review and request stays or end non-fraud-related crypto cases.

SEC vs. Ripple Case: No Fraud or Recklessness

The Ripple case meets the criteria of a non-fraud case. In August 2024, Judge Torres delivered the Final Judgment and a blow to the SEC. Notably, Judge Torres denied the SEC’s request for disgorgement and prejudgment interest in excess of $1 billion.

Judge Torres imposed a $125 million penalty for illegally selling XRP to institutional investors, well below the SEC’s claim for $876 million Importantly, Judge Torres based the penalty on a tier-one civil violation of the US Securities Act, with no allegations of fraud or recklessness.

The SEC vs. Ripple case is likely the highest profile case and in President Trump’s sights. Former SEC Chair Gary Gensler filed an appeal-related opening brief on January 15, challenging the Programmatic Sales of XRP ruling. Pausing the case may align with Trump’s pro-crypto stance, but pursuing the appeal risks contradicting this narrative.

XRP Price Trends Amid Legal Uncertainty

On Monday, January 20, XRP rallied 4.95%, partially reversing Sunday’s 9.55% tumble to close at $3.1013. The token outperformed the broader crypto market, which advanced by 1.06%, taking the total market cap to $3.46 trillion.

Near-term trends remain hinged on the SEC’s appeal strategy. If the agency pauses or withdraws its appeal in the Ripple case, XRP could break above its all-time high of $3.5505. Conversely, XRP could drop below $2.5 if the SEC pursues its appeal, challenging the Programmatic Sales ruling. Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_1

Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_1

Explore our expert analysis here on the SEC’s next move and its implications for XRP’s future.

Bitcoin Sees Volatility as Trump’s Crypto Stance Unfolds

Meanwhile, bitcoin enjoyed a pre-Trump inauguration rally on speculation of pro-crypto executive orders.

However, BTC gave up early gains as President Trump’s America First Priorities skipped crypto altogether. Markets had hoped for an executive order classifying BTC as a US Strategic Bitcoin Reserve.

In January, Anthony Scaramucci said the incoming Trump administration could acquire 500,000 BTC, stating the Senate Banking Committee Chair, Tim Scott, and Treasury Secretary Scott Bessent advocate an SBR.

Trump’s crypto silence weighed market expectations of a US SBR. According to Polymarket, bets on President Trump creating a BTC reserve within the first 100 days tumbled 20% on Monday to 39%. On November 7, 60% of betters had expected President Trump to create a BTC reserve in his first 100 days.

There was also speculation President Trump would repeal Joe Biden’s veto President Biden’s veto of the bipartisan vote to withdraw the SEC’s Staff Accounting Bulletin 121.

SAB 121 is an SEC requirement for companies, including banks, to hold crypto assets on their balance sheets even if they hold the cryptos under customer custody. This regulation increases the cost for banks to hold crypto for clients. Consequently, it limits the availability of crypto services. A repeal could also boost BTC-related banking services and demand.

Markets Remain Hopeful for an SBR

Despite Trump’s lack of crypto attention, markets remain optimistic about a US SBR. Senator Cynthia Lummis continues advocating for an SBR. Notably, the Senator introduced the Bitcoin Act in December. The bill proposes the US government accumulate one million BTC (5% of the total supply) over five years, with a minimum mandatory holding period of 20 years.

A bipartisan vote in favor of an SBR would tilt BTC’s supply-demand balance heavily in its favor. Amicus Curiae attorney John E. Deaton recently speculated that BTC could climb to $1 million if the US government passes the Bitcoin Act, attributing his projection to a “Nation State FOMO.”

Bitcoin Price Outlook

On Monday, January 20, BTC gained 0.96%, partially reversing Sunday’s 2.07% loss to close at $102,408. Significantly, BTC climbed to a record high of $109,350 before retreating.

BTC’s price trends hinge on Trump’s executive orders and plans for an SBR.

Repealing the SAB 121 veto, US BTC-spot ETF inflows and positive US SBR developments could push BTC beyond Monday’s record high of $109,350. Conversely, falling bets on an SBR and BTC-spot ETF outflows could drag BTC toward $95k.

Following Trump’s inauguration, crypto-related executive orders could be crucial for BTC and the broader market. Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_2

Will Acting Sec Chair Uyeda End Ripple Case? BTC Falls Back to $102K_2

Market Outlook

XRP and BTC face critical junctures as legal and regulatory developments unfold. XRP’s trajectory hinges on Uyeda’s SEC strategy, while Bitcoin’s outlook depends on Trump’s crypto policies. Broader regulatory shifts could further influence market sentiment in the coming weeks.

Stay updated with our expert analysis of these developments and their implications for crypto markets. Read more here.

Source:Fxempire

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Cohen

Economic

Among the 10 member countries, four (Malaysia, Singapore, Brunei and the Philippines) have fully adopted GMT+8 — aligned with China, Hong Kong, Taiwan, Macau and western Australia, according to the chairman of the local stock exchange.

Another four countries, namely Thailand, Cambodia, Laos and Vietnam are currently on GMT+7, while Myanmar uses GMT+6.30. Indonesia, on the other hand, utilises multiple time zones, with central Indonesia using GMT+8, western Indonesia (including Jakarta) GMT+8 and east Indonesia GMT+9.

“My only wish is to see most of Asean adopting a common time zone of GMT+8 sometime in the near future,” Abdul Wahid said in his keynote speech at 2025 Malaysia Economic and Strategic Outlook Forum (Mesof) here on Tuesday.

“I believe such a move will further integrate Asean as a compelling economic bloc,” he added.

Malaysia Institute of Economic Research (MIER) executive director Dr Anthony Dass said that a unified time zone among Asean countries would serve as foundation for a singular voice within the regional coalition.

“When you have a common time — that is the regional coalition. So you start with this simple thing [same time zone] — and when we [Asean countries] get in, start negotiating, we become very strong, a single voice,” Dass said at the forum.

This year, Malaysia assumes the Asean chairmanship with the theme “Inclusivity and Sustainability”, marking the fifth time it has done so, having previously been chair in 1977, 1997, 2005, and 2015.

Source：theedgemalaysia

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Risk Warnings and Disclaimers

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Warren Takunda

Stocks

Global shares were mixed in a muted reaction Tuesday to the inauguration of U.S. President Donald Trump.

France’s CAC 40 gained 0.1% to 7,739.02, while Germany’s DAX was flat at 20,988.89. Britain’s FTSE 100 gained 0.1% to 8,533.10.

The future for the S&P 500 was up 0.3% and that for the Dow Jones Industrial Average gained 0.4%. U.S. markets were closed Monday for the Martin Luther King Jr. Day holiday.

Some analysts said the inauguration would inject optimism into global markets, while others said the threat of higher tariffs might hurt sentiment.

Trump’s release of an “America First Trade Policy” memo after he took office Monday indicated he would take no immediate action on raising tariffs, possibly alleviating immediate concerns about threats of double-digit tariffs on all imports. However the plan calls for a broad reassessment and overhaul of U.S. trade policy.

Advertisement“In a twist that calmed nerves across global markets ... President Trump revealed he would not, contrary to expectations, roll out new tariffs immediately,” said Stephen Innes, managing partner at SPI Asset Management.

Related StoriesUS rejection of Nippon Steel's bid for US Steel rankles Washington's key ally in AsiaUS rejection of Nippon Steel's bid for US Steel rankles Washington's key ally in AsiaTrudeau says Americans are realizing Trump's tariffs on Canada would make life a lot more expensiveTrudeau says Americans are realizing Trump's tariffs on Canada would make life a lot more expensiveStock market today: Asian shares are mostly lower, with most world markets closed for ChristmasStock market today: Asian shares are mostly lower, with most world markets closed for ChristmasWorries about the effects of Trump’s policies on China have eased somewhat as both sides have pledged to work to improve relations.

Hong Kong’s Hang Seng index rose 0.9% to 20,106.55, in part lifted by embattled Chinese property developer Country Garden, whose shares jumped 17.5% after it got a reprieve on its deadline for working out an agreement with its creditors.

The Shanghai Composite index edged 0.1% lower to 3,242.62.

Tokyo’s Nikkei 225 index gained 0.3% to finish at 39,027.98, while Australia’s S&P/ASX 200 gained 0.7% to 8,402.40. South Korea’s Kospi slipped less than 0.1% to 2,518.03.

Shares in Fuji Media Holdings, of which major Japanese broadcaster Fuji TV is a part, recouped earlier losses, to finish 2.1% higher. The earlier decline came after dozens of companies, including Toyota Motor Corp., decided to stop airing television commercials that accompany Fuji TV shows. The stock price has zigzagged recently as a sex scandal unfolded, reported by weekly magazine Shukan Bunshun.

In energy trading, benchmark U.S. crude declined 97 cents to $76.42 a barrel. Brent crude, the international standard, lost 32 cents to $79.84 a barrel.

In currency trading, the dollar was unchanged at 155.64 Japanese yen. The euro cost $1.0362, down from $1.0416.

Source: AP

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Cohen

Cryptocurrency

Bitcoin held a retreat from a record as traders awaited crypto policy directives from US President Donald Trump following his inauguration.

The market was expecting an executive order in support of the digital-asset sector but it didn’t appear in Trump’s blitz of actions on his first day in office. He focused instead on topics such as immigration, trade, energy and TikTok.

The original cryptocurrency changed hands at about US$102,400 (RM458,598) as of 12.31pm on Tuesday in Singapore. The token hit a peak of US$109,241 ahead of Trump’s swearing in before falling back. Most other digital assets also wavered.

“It’s premature to draw strong conclusions from the absence of an immediate executive order” given that the Trump administration has a range of priorities, said Richard Galvin, a co-founder of hedge fund DACM. “Markets have shown resilience, suggesting investors are taking a similar, longer-term view.”

Trump tokens

Before the inauguration, Trump and his wife Melania unveiled memecoins that whipsawed the market by diverting flows. Investors later embraced the notion that the move further incentivizes Trump to embrace crypto-friendly policies.

Crypto Market In Limbo as Trump Omits Sector from Day One Orders_1

Bloomberg News previously reported that Trump is considering an executive order designating the asset class a “national priority”. Trump became an ardent supporter of the digital-assets industry on the campaign trail, after once having branded bitcoin a scam. He pledged to make the US the world’s crypto capital and backed the idea of creating a strategic bitcoin stockpile.

While it’s a surprise that Trump didn’t issue an executive order “praising” crypto, “one should be forthcoming” though it may not be “substantive,” TD Cowen analyst Jaret Seiberg wrote in a note.

The Trump memecoin traded at about US$34, according to figures from CoinMarketCap. It hit an overall market value of more than US$15 billion on Sunday but slid below US$7 billion on Tuesday.

Memecoin criticism

The Trump and Melania memecoins drew criticism from some industry executives, partly over the worry that they risk making crypto look frivolous.

Others took a different view. Ben El-Baz, the managing director of HashKey Global, said the tokens debuted by the Republican and his team have further accelerated bitcoin’s momentum, as retail traders look for his administration to “prioritize and reaffirm his commitment to the crypto industry”.

Memecoins are a kind of cryptocurrency with questionable intrinsic value and high volatility. They rely on social media tailwinds to drive up their price and can slide as quickly as they climb.

An 80% share of the Trump token is owned by a Trump Organization affiliate called CIC Digital LLC, and a related entity called Fight Fight Fight LLC — whose name echoes the words Trump mouthed after a bullet grazed his ear during the campaign trail. Their holdings will be unlocked over a three-year period.

Possible ‘longevity’

According to the website, 200 million of the tokens immediately became available, a supply that will grow to one billion over three years. The small print on the website states the token isn’t intended to be an “investment opportunity, investment contract, or security of any type”.

To Gautam Chhugani of Bernstein, a memecoin “capitalising on Trump’s brand and politics, has potential longevity”. And while some may “cringe”, he added that this marks the start of a “new crypto regulatory era”.

Bitcoin has jumped about 50% since Trump’s US election victory in early November, raising the question of whether the rally is due a breather if the anticipated presidential action fails to excite speculators.

Source: Theedgemarkets

Risk Warnings and Disclaimers

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Warren Takunda

Stocks

London stocks were set to nudge lower at the open on Tuesday as investors mulled the latest UK jobs data.

The FTSE 100 was called to open down around five points.

Figures released earlier by the Office for National Statistics showed that the unemployment rate and wages grew in the three months to November.

The unemployment rate rose to 4.4% from 4.3%. Meanwhile, average earnings including bonuses grew 5.6% on an annual basis, up from 5.2% and in line with consensus forecasts.

Pay excluding bonuses was also up 5.6% from 5.2%, in line with expectations.

ONS director of economic statistics Liz McKeown said: "Pay growth picked up for a second consecutive period, again driven by strong increases in the private sector. Real pay growth, which excludes the effects of inflation, increased slightly.

"The number of employees on payroll, drawn from tax data, fell in the three months to November.

"Alongside this, the number of vacancies fell again, for the 30th consecutive period, although the total number remains slightly above its pre-pandemic level."

In corporate news, Premier Foods reported a 3.1% increase in group sales in a third quarter update, with branded sales rising by 4.6%, driven by volume-led growth and market share gains.

It said grocery branded sales grew by 3.5%, while ‘sweet treats’ saw an 8.9% increase and international sales surged by 29%, supported by strong performance in new categories such as Ambrosia porridge pots.

The company said it now expected full-year trading profit to be at the upper end of its previous guidance.

Tritax Big Box said it has acquired a 74-acre site near Heathrow within the Slough Availability Zone, for the development of a major data centre, targeting an initial 107 MW facility by 2027 with the potential to expand to 147 MW.

The company said it had entered into a joint venture with a renewable energy provider to accelerate power delivery, enabling faster project execution and unlocking a broader 1 GW pipeline of future data centre opportunities across the UK.

It said the project was expected to yield a 9.3% return on cost, with significant development profits anticipated, leveraging the site's prime location and strong market demand for data centre capacity.

Source: Sharecast

Risk Warnings and Disclaimers

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Justin

Economic

Gold price (XAU/USD) builds on the overnight bounce from the $2,689 area and gains some follow-through positive traction for the second straight day on Tuesday. US President Donald Trump's tariff remarks boost demand for traditional safe-haven assets and lift the commodity to its highest level since November 6, around the $2,729 area. Apart from this, declining US Treasury bond yields, led by bets that the Federal Reserve (Fed) will cut interest rates twice this year, turns out to be another factor underpinning the lower-yielding yellow metal.

Meanwhile, expectations that Trump's protectionist policies would reignite inflationary pressures and force the Fed to stick to its hawkish stance help the US Dollar (USD) to stage a modest bounce from a two-week low touched on Monday. This, along with a generally positive tone around the equity markets, contributes to keeping a lid on any further appreciation for the Gold price. Nevertheless, the fundamental backdrop seems tilted firmly in favor of bullish traders and suggests that the path of least resistance for the XAU/USD remains to the upside.

Gold price retains positive bias amid trade war fears, Fed rate cut bets

US President Donald Trump said this Tuesday that he intends 25% tariffs on Canada and Mexico, and the target date for tariffs would be as soon as early February. Trump further threatened that we could put tariffs on China if it doesn't approve a TikTok deal, underpinning demand for the safe-haven Gold price.

The US Producer Price Index (PPI) and Consumer Price Index (CPI) released last week pointed to signs of abating inflation. This suggests that the Fed may not exclude the possibility of rate cuts by the end of this year and drags the yield on the benchmark 10-year US government bond to a nearly three-week low.

The US Dollar (USD) regains positive traction following the overnight slump to a two-week low amid expectations that Trump's protectionist policies could boost inflation and force the Federal Reserve to stick to its hawkish stance. This, in turn, might cap any further gains for the non-yielding yellow metal.

The Israel-Hamas ceasefire deal, along with hopes that Trump might relax curbs on Russia in exchange for a deal to end the Ukraine war, remains supportive of the positive risk tone. This might further hold back bulls from placing fresh bets around the XAU/USD in the absence of any relevant US economic data.

The market focus will remain glued to the crucial Bank of Japan policy meeting on January 23-24 on Friday. Apart from this, the release of the flash PMI prints, which will be looked upon for fresh insight into the global economic health, should infuse volatility around the commodity during the latter half of the week.

Gold price acceptance above $2,720 hurdle favors bullish traders

Gold Price Sticks to Intraday Gains Above $2,725, Over Two-Month Top Amid Trade War Fears_1

From a technical perspective, the Gold price now seems to have found acceptance above the $2,720 supply zone. Moreover, oscillators on the daily chart have been gaining positive traction and are still away from being in the overbought territory. This, in turn, favors bullish traders and suggests that the path of least resistance for the XAU/USD is to the upside. Hence, some follow-through strength towards the next relevant hurdle near the $2,735 horizontal zone, en route to the $2,746-2,748 region, looks like a distinct possibility. The momentum could extend further towards challenging the all-time peak, around the $2,790 area touched in October 2024.

On the flip side, any corrective pullback now seems to find decent support near the $2,700 mark. A subsequent slide below the overnight swing low, around the $2,689 region, could prompt some technical selling and drag the Gold price further towards the $2,662-2,660 region. The latter should act as a pivotal point, below which the XAU/USD could fall to the $2,635 zone en route to the $2,622-2,618 confluence – comprising a short-term ascending trend-line extending from the November low and the 100-day Exponential Moving Average (EMA).

Source：FXSTREET

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Owen Li

Economic

Among his key priorities are large-scale deportation operations and reducing environmental regulations, signaling potential shifts in labor markets and energy industries. Trump also aims to impose higher tariffs on imports early in his presidency, a move likely to increase costs for U.S. consumers while provoking retaliatory measures from trading partners. While his policies have sparked widespread concern over trade disruptions, Trump has pledged to streamline government operations—a potential boon for economic efficiency. Furthermore, his vow to end the Russia-Ukraine conflict, though uncertain, could stabilize geopolitical tensions and benefit global markets.

Last week on the economic front, U.S. Consumer Price Index (CPI) data for December came in below expectations, suggesting inflationary pressures may be easing. Federal Reserve Governor Christopher Waller indicated that this trend could prompt multiple interest rate cuts this year if it continues, a development that may stimulate borrowing and investment. However, U.S. retail sales slightly missed expectations, hinting at weaker consumer demand.

Currencies

The strong rise in the USD since October has paused after last week’s weaker-than-expected U.S. inflation data. Earlier, the dollar had surged as U.S. long-term bond yields rose, with markets expecting higher inflation under Trump’s presidency. However, if Trump’s policies are seen as less inflationary than expected, the USD could weaken further.

Some analysts believe the BOJ may raise official interest rates at this week’s meeting, which could trigger a sell-off in USD/JPY and add more pressure on the dollar. At the same time, AUD/USD and GBP/USD, which have fallen sharply in recent weeks, may attract buyers, offering potential opportunities for traders.

USD Index Daily Chart

Stock Markets

U.S. stock markets have regained strength following last week’s weaker-than-expected inflation data and the official start of Trump’s presidency. The Dow and S&P 500, which had retraced much of their initial post-election rally in the past two months due to higher-than-expected U.S. interest rates, are now showing signs of recovery.

Among the sectors expected to benefit most from Trump’s policies is the oil industry, as the new administration aims to reduce regulations limiting oil extraction. Chevron, for instance, has seen significant gains this year, as highlighted in the chart below, reflecting optimism about the sector’s growth prospects.

Chevron Daily Chart

In the electric vehicle space, Tesla’s boom has slowed, but its upward trend remains intact, due to the close relationship between Elon Musk and Donald Trump. However, this alliance could end at any time, making it essential for bullish traders to stay cautious, prepare for potential losses, and consider shifting bearish if necessary.

Meanwhile, the Nikkei 225 has repeatedly failed to break through the 40,000 resistance level since Trump’s election, despite continued yen weakness. Rising living costs in Japan, outpacing wage growth, remain a key challenge for the Japanese economy, contributing to the index’s struggles.

Bond Market

The closely watched U.S. 10-year Treasury yield has climbed 1% since September, reaching 4.65%, and is approaching the key resistance level of 5% as markets scale back expectations for interest rate cuts. However, last week’s weaker-than-expected U.S. inflation data caused yields to decline, providing a boost to U.S. stock markets while pushing the USD lower. The market will also be closely watching policy announcements from Trump in the coming weeks to see if they are as inflationary as expected.

In Japan, bond yields are also trending higher as the Bank of Japan signals a possible increase in official interest rates. The 10-year Japanese bond yield has doubled over the past year to 1.19%, reflecting a notable shift in Japan’s traditionally low-rate environment.

Commodities

Crude oil prices have risen this year, driven by U.S. sanctions on Russia’s oil industry, which have significantly reduced global supply. Trump’s presidency is expected to further impact the oil market, as he supports expanded oil exploration in the U.S. While this could boost domestic production, Trump has also indicated he will seek ways to push oil prices significantly lower during his term. Additionally, his stated desire to end the Russia-Ukraine war, if successful, could further push oil prices down by reducing geopolitical risk premiums.

Crude Oil Daily Chart

Gold has also moved higher in 2025, despite the strong USD and higher interest rates. Investors view gold as a safe-haven asset to hedge against potential instability in the global economy should Trump’s policies create disruptions. If the USD continues to weaken, gold prices may see further upside, potentially returning to the highs set in October 2024.

Bitcoin

Bitcoin has been trading sideways around the $100,000 mark over the past two months, as the market awaited the start of Trump’s presidency. With Trump now sworn in as president, Bitcoin has begun pushing higher once again. Traders are increasingly optimistic, aiming to drive prices to new highs as Trump has recently reiterated his support for cryptocurrencies. Trump Trades Back in Focus as New Presidency Begins_4

Trump Trades Back in Focus as New Presidency Begins_4

Upcoming Events to Watch This Week

This week is relatively quiet on the economic front, with the key data releases scheduled for Friday, including U.S. PMI and existing home sales. These reports may provide insight into the health of the U.S. economy but are unlikely to cause significant market volatility. Meanwhile, the Bank of Japan is expected to raise official interest rates from 0.25% to 0.50%, a move that is likely to create substantial volatility in the yen and Nikkei as markets react to this shift in monetary policy.

The market’s primary focus will be on Trump’s initial actions as president. While his expected crackdown on immigration may have limited market impact, any remarks he makes about tariffs could significantly influence sentiment. If his comments hint at a potential trade war, this could raise concerns about global trade and negatively affect market stability. Traders will be closely monitoring his statements for signs of direction on these critical issues.

This Week’s Trump Trades

Here are trade ideas based on this week’s market trends:

USD/JPY: Focus on selling opportunities as the pair appears vulnerable to further downside. Target a break of the key support level at 155.00, which could open the door to additional declines. Monitor Bank of Japan developments closely, as any rate changes could increase volatility.

Bitcoin: The uptrend is gaining momentum, with bullish sentiment returning after Trump’s inauguration. Look for a potential test of $110,000 and higher as traders push for new highs. Buying near key support levels could provide favorable entry points for those with a bullish outlook.

Crude Oil: The recent ceasefire between Israel and Gaza, coupled with Trump’s presidency, is reducing tensions in the Middle East. This geopolitical easing, along with expectations of increased U.S. production, could push crude oil prices lower. Traders should consider selling rallies, targeting lower levels in the short term.

S&P 500: The S&P 500 could push higher this week, buoyed by the start of Trump’s presidency as he enacts his “America First” agenda. Look to buy dips on the S&P 500, as optimism around Trump’s policies may provide continued support for the index.