Daily Market Recap (January 13th 2025)

In early 2026, the U.S. economy faces significant turbulence as inflation data shows a gradual cooling, with December’s core consumer price index rising less than anticipated. Despite this relief, President Donald Trump has intensified his public attacks on Federal Reserve Chair Jerome Powell, calling for aggressive interest rate cuts while the Department of Justice pursues a criminal investigation into the central bank leader. Financial markets are reacting to these tensions with gold hitting record highs and treasury yields sliding, while global central bankers have united to defend the Fed's political independence. Meanwhile, geopolitical instability in Iran and Venezuela has driven crude oil prices upward amid fears of supply disruptions at the Strait of Hormuz. On the corporate front, JPMorgan Chase and Delta Air Lines reported strong earnings fueled by resilient consumer spending, even as new policy proposals like a 10% credit card interest rate cap threaten to reshape the lending landscape. Additionally, the FDA has cleared weight-loss drugs of suicide risk warnings, and Nike has expanded into the growing pickleball market by signing its first professional athlete.