Geopolitics took the spotlight this week, overshadowing economic data. Headline CPI and core CPI remained stable in December. Retail sales saw a rebound, while manufacturing output rose more than expected. Market expectations for Fed rate cuts dropped to 45 bps. TSMC announced plans to increase capex by 37% and boost capacity for AI demand.

Looking ahead, key events next week include November PCE inflation and spending data, Preliminary January PMIs, Revised Q3 GDP, and potential Supreme Court decisions on Tuesday.

Read more at Nasdaq: Weekly Chartstopper: January 16, 2026