Daily summary: exceptionally low US trade deficit; dollar remains strong 📌

US equity indices are likely to finish the session broadly in the same tone as they started. US100 remains under pressure, down 0.70%, US500 is off 0.10%, while US2000 outperforms, up 1.10%.
The US dollar continues to be the strongest currency, with the USDIDX up 0.20% and EURUSD down 0.25%.
The dominant driver today is President Donald Trump’s call for a significant increase in US defense spending—up to USD 1.5 trillion—along with guidance to curb shareholder payouts at major contractors until more is invested in production capacity and R&D.
Investors are taking profits in the technology sector after recent gains, while lower-than-expected weekly jobless claims and mixed macro signals are tempering risk appetite ahead of tomorrow’s key US labor-market data.
The US trade deficit narrowed again (trade balance: −USD 29.4bn vs. −USD 58.1bn expected; prior −USD 48.1bn). The improvement reflects both lower imports (a lagged effect of tariffs) and higher exports (supported by a weaker dollar).
Initial jobless claims remain low. Today’s report showed a slight increase to 208k (vs. 213k expected; 199k prior).
The New York Fed’s December Survey of Consumer Expectations showed higher short-term inflation expectations, while medium- and long-term outlooks remained anchored. One-year inflation expectations rose to 3.4% (from 3.2%), while three- and five-year expectations held at 3.0%.
Alphabet (GOOG) gained 1.9% after overtaking Apple to become the world’s second-most valuable company for the first time since 2019, underscoring its leadership in artificial intelligence.
Passive funds managing more than USD 100bn are rebalancing at the start of January 2026 to align with updated Bloomberg (BCOM) and S&P GSCI index guidelines—typically a catalyst for heightened volatility in commodity markets.
While gold continues to enjoy investor confidence (down just 0.04%), sentiment in silver has cooled sharply (down more than 3.40%). Investors are pulling capital from silver-backed ETFs and increasingly positioning for downside via aggressive short instruments.
Cryptocurrencies sold off earlier in the day, but bulls managed to recoup losses into the close. Bitcoin is heading into the end of the session slightly lower (−0.05%) around USD 91,200.

9 January 2026, 8:37 AM

Economic calendar: US Non-Farm Payrolls and Supreme Court decision on tariffs in focus🗽

9 January 2026, 7:08 AM

BREAKING: Weak macro data from Germany 🚨Norwegian CPI rises

9 January 2026, 6:48 AM

Morning wrap (09.01.2026)

8 January 2026, 5:10 PM

NY Fed Survey: higher inflation expectations, but also higher equity price expectations 📄🔎

Economic reports

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Daily summary: exceptionally low US trade deficit; dollar remains strong 📌

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