In the coming week, market focus will shift back to macroeconomic trends, monetary policy, and corporate earnings reports, with the Federal Reserve's interest rate meeting expected to be the main highlight. Approximately one-fifth of S&P 500 companies will release their quarterly results next week, including Apple, Microsoft, Meta Platforms, and Tesla — all members of the "Magnificent Seven" U.S. stocks. Major storage companies such as SanDisk, Western Digital, Seagate Technology, Samsung, and SK Hynix are also set to publish their financial results.
At the same time, geopolitical risks, the selection of the Federal Reserve Chair, and the potential for another U.S. government shutdown will continue to disrupt global risk sentiment. Experts noted: "If the situation in Greenland spirals out of control, compounded by tariff threats and other factors, it would undoubtedly undermine market confidence and could place significant pressure on stock markets."
Key Schedule for the Upcoming Week
Federal Reserve Interest Rate Decision Announcement
The Federal Reserve will hold its first interest rate meeting of the year at 3 a.m. on Thursday. The market widely expects the central bank to maintain its current stance, as Powell hinted during the December meeting that, after three consecutive 25-basis-point rate cuts, the central bank was "well-positioned to wait and see how the economy evolves." Investors will focus on the number of dissenting votes, as well as the accompanying statement and commentary, to assess the timing and pace of future rate cuts.
Analysts like Jeremy Schwartz from Nomura Securities pointed out that the Federal Reserve might delay its first rate cut until after Powell’s term ends in May this year. Therefore, the crux of this meeting lies in Powell's remarks: how he justifies maintaining rates amid stronger-than-expected economic resilience, and whether his comments will definitively rule out near-term rate cut options, thereby solidifying market expectations for a delayed easing cycle. Another key point to watch is political pressure; Powell may face questions regarding ongoing judicial investigations into him personally and whether criticism from President Trump affects the central bank’s decision-making independence.
Earnings Releases from Tech Giants
Several heavyweight technology stocks are scheduled to release earnings next week, with after-hours attention on U.S. stocks. $Tesla (TSLA.US)$ 、 $Apple (AAPL.US)$ 、 $Microsoft (MSFT.US)$ 、 $Meta Platforms (META.US)$ Key earnings reports to watch include those from ASML Holding and others. The focus for Tesla has shifted from financial data to advancements in FSD, humanoid robots, and Robotaxi technologies. Microsoft and Meta will primarily address the question of 'spending and earning on AI.' Apple, on the other hand, faces cost pressures and needs to demonstrate its pricing power and supply chain control. Additionally, ASML Holding and IBM’s performance will serve as indicators for trends in semiconductor upstream sectors and corporate IT spending.
A key theme this earnings season is whether companies are beginning to benefit from AI-related investments. Previously, tech stocks and other AI-related equities have been the main drivers of the U.S. stock market bull run, which is now entering its fourth year. However, doubts about whether massive investments in data centers and other infrastructure will yield returns have weighed on these stocks toward the end of 2025.
Earnings Reports from Storage Industry Giants
Next week, the three major U.S.-listed storage giants $SanDisk Corp (SNDK.US)$ 、 $Western Digital (WDC.US)$ 、 $Seagate Technology (STX.US)$ Samsung Electronics and SK Hynix, the two Korean giants, are set to release their latest financial reports. Amid the AI wave, whether the logic of memory price hikes can translate into profit growth for each company will be the key focus.
Samsung is expected to achieve a historic breakthrough in quarterly profits driven by rising DRAM prices and will compete with SK Hynix in HBM4 supply and massive capital expenditures. The performance of SanDisk will serve as a benchmark for testing NAND flash pricing power and the strength of AI demand, while Western Digital and Seagate Technology will also benefit from this industry-wide boom.
Mingming Hen Mang will go public on the Hong Kong Stock Exchange on January 28.
$BUSYMING (01768.HK)$ The company owns two brands: 'Lingshi Hen Mang' and 'Zhaoyi Ming Snacks.' According to a Frost & Sullivan report, based on GMV of leisure food and beverage products in 2024, Mingming Hen Mang is the largest chain retailer in China; based on GMV of food and beverage products in 2024, it ranks as the fourth-largest chain retailer in China and maintains rapid growth.
The company plans to offer 14.1011 million H-shares globally, with 10% allocated for the Hong Kong public offering and 90% for international distribution. An additional 15% overallotment option is also available. The price range per share is set between HKD 229.6 and HKD 236.6. Each lot consists of 100 H-shares. It is expected that the H-shares will commence trading on the Stock Exchange at 9:00 AM on Wednesday, January 28, 2026. As of press time, Mingminghenmang has concluded its IPO subscription, with a margin subscription reaching 1,528.2 times oversubscription and a total subscription amount nearing HKD 510 billion.
Mingming Hen Mang's cornerstone investors boast an impressive lineup, including Tencent, Temasek, Blackrock, Fidelity Investments, Bosera International, E Fund Management, Springs Capital (Hong Kong), and Taikang Life Insurance—eight cornerstone investors in total, subscribing for an amount of $195 million, accounting for 46.24% of the global offering shares.
US Treasury Secretary Bessent: New Federal Reserve Chair nominee may be announced as early as the week of January 26.
On January 21, US Treasury Secretary Bessent confirmed that President Trump “may announce the new Federal Reserve Chair nominee as early as next week (the week of January 26).” There are currently “four outstanding candidates.” Previously, Bessent mentioned that Trump plans to make the decision in January, likely around the timing of the World Economic Forum in Davos.
Risk of another US government shutdown looms on January 30.
The second fatal shooting of a federal law enforcement officer in Minnesota within two weeks has triggered a political deadlock in Congress, significantly increasing the risk of a US government shutdown by the end of the month. Data from the market forecasting platform Polymarket shows that the probability of the US government shutting down again before January 31 has surged to 75% due to this incident.
Currently, the US Congress had originally planned to vote on a package of six bills next week to avoid a shutdown crisis on January 31. However, current political calculations have made the 60 Senate votes required to pass the bill increasingly precarious. The Republican Party currently holds 53 seats in the Senate, meaning they need at least seven Democratic supporters to pass the legislation.
Trump stated that a 'framework agreement' has been reached with NATO regarding Greenland, and no tariffs will be imposed on February 1. However, attention should continue to be paid to geopolitical risks and U.S. developments.
On February 1, Trump will not impose additional tariffs on the EU, stating that a 'framework agreement' has been reached with NATO concerning Greenland. The current geopolitical situation, spanning from Venezuela and the Middle East to Greenland, remains tense. A series of unconventional actions by the U.S. government are driving up global risk aversion. Geopolitical risks have become a key variable in the markets, warranting continued attention.
CAICT: Upcoming 'Star Computing • Intelligent Connectivity' Space Computing Power Seminar to Issue Joint Promotion Initiative for 'Computing Power Star Network'
In order to thoroughly implement the important national deployment on developing new quality productive forces, building a strong aerospace nation, and advancing Digital China, while seizing the strategic opportunity presented by the deep integration of aerospace information and intelligent computing, and planning for the construction of future-oriented space computing infrastructure systems, the China Academy of Information and Communications Technology is set to convene the 2026 'StarComputation·Intelligent Connectivity' Space Computing Power Seminar on January 26. The seminar will feature the launch of the 'Computing Power Star Network' joint initiative and the 'Space Computing Power Development Prospective Research Report (2026)'. Additionally, Guoxing Aerospace will introduce the 'Guoxing Aerospace StarComputation Plan', Zhijiang Laboratory will present the 'Three-Body Computing Constellation', and the Beijing Institute of Spacecraft System Engineering will provide an outlook on the development of space digital intelligence infrastructure.
Key earnings calendar for the new week
Monday (January 26)
Keywords: Monthly Durable Goods Orders, StarComputation·Intelligent Connectivity
In terms of economic data, the monthly Durable Goods Orders and the Dallas Fed Business Activity Index will be released.
21:30 U.S. November Monthly Durable Goods Orders
23:30 U.S. January Dallas Fed Business Activity Index
Regarding financial events, the China Academy of Information and Communications Technology will host the 2026 'StarComputation·Intelligent Connectivity' Space Computing Power Seminar.
Tuesday (January 27)
Keywords: Conference Board Consumer Confidence Index, UnitedHealth, Boeing, Seagate Technology
In terms of economic data, China’s annual growth rate of profits for large industrial enterprises, the U.S. FHFA house price index month-over-month, and the Conference Board Consumer Confidence Index will be released.
9:30 AM - China December annual growth rate of profits for large industrial enterprises
22:00 US November FHFA House Price Index month-over-month
23:00 US January Conference Board Consumer Confidence Index, US January Richmond Fed Manufacturing Index
Regarding earnings reports, $UnitedHealth (UNH.US)$ 、 $Boeing (BA.US)$ will release earnings reports before the U.S. stock market opens. $Seagate Technology (STX.US)$ will release earnings reports after the U.S. stock market closes.
In terms of new stock offerings, $BUSYMING (01768.HK)$ After-hours trading will commence.
16:15-18:30 Mingminghenmang after-hours trading
Wednesday (January 28)
Keywords: Mingminghenmang, Bank of Canada interest rate, ASML Holding, Tesla, Microsoft, Meta Platforms, Lam Research
In terms of economic data, crude oil-related data and the Bank of Canada's interest rate decision will be released.
05:30 US API Crude Oil Inventory (in million barrels) for the week ending January 23
22:45 Canada's central bank interest rate decision up to January 28
23:30 U.S. EIA crude oil inventory (in million barrels) for the week ending January 23
Earnings reports:$ASML Holding (ASML.US)$ Earnings report will be released before the U.S. stock market opens. $Tesla (TSLA.US)$ 、 $Microsoft (MSFT.US)$ 、 $Meta Platforms (META.US)$ 、 $Lam Research (LRCX.US)$ Earnings report will be released after the market close.
In terms of new stock offerings, $BUSYMING (01768.HK)$ Officially listed on the Hong Kong Stock Exchange today.
Thursday (January 29)
Keywords: Fed interest rate decision, unemployment benefits, Apple, SanDisk, Western Digital, Visa
In terms of economic data, the Fed interest rate decision and initial jobless claims for the previous week will be released as key highlights.
3:00 Fed interest rate decision
21:30 U.S. initial jobless claims (in ten thousands) for the week ending January 24
23:00 US November factory orders month-over-month rate, US November wholesale sales month-over-month rate
In terms of financial events, Federal Reserve Chair Powell will deliver a speech.
3:30 Federal Reserve Chair Powell holds a press conference on monetary policy
In earnings reports, Samsung Electronics and SK Hynix will announce their results, impacting relevant securities. $CSOP Samsung Electronics Daily (2x) Leveraged Product (07747.HK)$ 、 $CSOP SK Hynix Daily (2x) Leveraged Product (07709.HK)$ ； $Apple (AAPL.US)$ 、 $SanDisk Corp (SNDK.US)$ 、 $Western Digital (WDC.US)$ 、 $Visa (V.US)$ will announce earnings after the US stock market closes.
Friday (January 30)
Keywords: Exxon Mobil, PPI
In terms of economic data, December PPI and Chicago PMI will be released.
21:30 US December PPI year-over-year rate, US December PPI month-over-month rate
22:45 US January Chicago PMI
Regarding earnings reports, $Exxon Mobil (XOM.US)$ 、 $SoFi Technologies (SOFI.US)$Earnings reports will be released before the US stock market opens.
Saturday (January 31)
Keywords: PMI, Fed officials
In terms of economic data, China's PMI will be released.
09:30 China's official manufacturing PMI for January
Regarding financial events, a Fed official will deliver a speech.
02:30 Mousallem, the 2028 FOMC voter and President of the St. Louis Fed, will speak on the U.S. economy and monetary policy.
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Wishing all fellow investors a successful new week ahead!
Editor/Lambor