Economic data last week painted a mixed picture. ISM manufacturing moved back into expansion, services held steady, and consumer sentiment improved slightly, even as weaker job openings and claims data suggested labor market cooling. The delayed January employment report, paused by a brief government shutdown, will soon offer additional clarity.

The Federal Reserve kept short-term interest rates unchanged this week, signaling patience amid mixed U.S. economic data. Durable goods orders and housing prices edged higher, while consumer confidence slipped and producer prices rose faster than expected—reminding investors that inflation still lingers.

In a week where geopolitics collided with markets, U.S. equities closed mixed after a volatile stretch dominated by President Trump’s pursuit of Greenland and its potential implications for trade relations. The S&P 500 fell 0.4%, marking a second straight weekly decline despite remaining up 1% month-to-date.

U.S. equities opened 2026 on a strong note, with major indices rising across the board despite mixed economic signals. The S&P 500 and Nasdaq each advanced more than 1.5%, while value and equal-weight strategies continued to outperform.

US equities posted modest gains this week, with the S&P 500 edging up 0.1% as strength in consumer discretionary stocks offset declines in energy. Markets digested a series of delayed government reports following the shutdown, offering a complex view of the economy’s resilience.

The Federal Reserve delivered another quarter-point rate cut last week but signaled a likely pause in further easing as it awaits clearer signals on inflation and labor. The Fed announced it would resume Treasury bill purchases to stabilize short-term funding markets.

Economic data releases showed signs of normalization last week, painting a mixed but resilient macro picture. U.S. indicators were generally positive—personal income, spending, ISM services, and industrial production all improved—helping to offset weakness in manufacturing and private payrolls.

U.S. markets just delivered the kind of week that reminds investors why “don’t fight the Fed” is more than a cliché. Equities, bonds, and commodities all caught a bid as expectations for a December rate cut firmed up and investors rotated back into growth and risk assets.​

Global risk assets saw heightened volatility last week, driven by tech sector turbulence and shifting expectations surrounding Federal Reserve policy. Major indices ended broadly lower: the Nasdaq Composite sank 2.7%, the S&P 500  dropped 2%, and the Russell 2000 rallied late to trim its weekly loss to 0.8%.