【Financial Breakfast | January 23, 2026】

1. U.S. economic data boosts risk appetite, U.S. stocks rise, Nasdaq up 0.9%, the seven tech giants see broad gains; the dollar index falls to 98; gold and silver hit new highs; WTI crude oil futures drop more than 2%.

2. People's Bank of China Governor Pan Gongsheng: flexibly and efficiently use various monetary policy tools such as reserve requirement ratio cuts and interest rate reductions, there is still some room for cuts this year.

3. U.S. Q3 actual GDP quarter-on-quarter final value slightly revised up to 4.4%, the fastest growth rate in two years, core PCE inflation remains at 2.9%.

4. The inflation indicator most favored by the Federal Reserve meets expectations, with the U.S. November PCE price index year-on-year at 2.8%, month-on-month at 0.2%, personal spending grows steadily, but the savings rate declines further.

5. Trump says he will take significant retaliatory action if Europe sells U.S. assets.

6. Nordic pension funds accelerate exit: Denmark liquidates U.S. Treasuries, Sweden follows suit, Greenland considers selling U.S. stocks.

7. AI demand is realized but supply will reach a 'lowest point', Intel's Q1 guidance is disappointing, resulting in a drop of more than 10% after hours.

8. Musk showcases plans at Davos: Optimus robot will be publicly sold next year, Robotaxi will be 'very popular' in the U.S. this year, AI may surpass humans.

9. Reports say Alibaba plans to let Pingtouge go public independently, stock price surges over 7% during the session.

10. AI resonates with the storage cycle, Zhaoyi Innovation expects 2025 revenue to increase by about 25% year-on-year, net profit up 46%.

11. Reminder: The Bank of Japan will announce its interest rate decision on Friday, expected to keep rates unchanged.