🔥 Trump Nominates Warsh for Fed Chair • Apple Crushes Earnings • January Barometer Flashes Green
Market Snapshot
S&P 500: 6,956 (-0.2%) • Dow: 48,958 (-0.2%) • Nasdaq Futures: -1.0% • Gold: ~$5,385
🔥 Top Story: Trump Nominates Kevin Warsh for Fed Chair
President Trump nominated Kevin Warsh to succeed Jerome Powell when his term expires in May. Warsh is a former Fed Governor (2006-2011), Goldman alum, and known hawk. Markets are recalibrating — dollar strengthening, yields rising, growth stocks under pressure. Still requires Senate confirmation.
📱 Apple Crushes Earnings — Record Quarter
- Revenue: $143.8B — Beat (+16% YoY)
- iPhone: $85.3B — All-time record (+23% YoY)
- Services: ~$30B — Beat
- Gross Margin: 48.2% vs 47.5% expected
- Q2 Guidance: 13-16% revenue growth
This caps a mixed Big Tech week: Apple ✅, Meta ✅, Tesla ✅, Microsoft ❌
📊 January Barometer
S&P 500 on track to finish January up more than 1%. When January is positive, the full year is positive ~87% of the time with an average return of +11.5%.
📅 Today's Calendar
- 8:30 AM: PCE Price Index (Fed's preferred inflation gauge)
- 10:00 AM: Consumer Sentiment (Final)
- Earnings: Exxon (XOM), Chevron (CVX), AbbVie (ABBV)
👁️ Watching Today
- PCE Data — Hot print could amplify yield spike
- Tech Reaction — Apple strength vs Microsoft weakness
- SOFI Follow-Through — Does yesterday's +7.6% hold?
- Dollar/Yields — Warsh nomination driving strength
💡 Bottom Line
Big day for market narratives. The Warsh nomination reshapes Fed expectations, Apple shows Big Tech isn't dead, and the January Barometer flashes green. Watch how markets digest PCE data with a potentially more hawkish Fed chair on the horizon. Political noise creates opportunity for patient investors.