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Newsquawk US Market Wrap
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Market update
Stocks taking a hit… no news… as warned, beware of start of the year whipsaws
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JP, I raised the question about Powell’s future in this article published almost a month before the one on CNBC
Reshape Federal Reserve Policy: Voting Rotation, Rate-Cut Odds, and Powell’s Future
NAS100 (NASDAQ) UPDATE
- Focus in 2026 is whether tech can regain its mojo after causing the NAS to lag in the latter part of 2025.
- Support at 25221 guards the pivotal 25000 level. Only below 25K (and 24643) would force bulls to rethink hope for an eventual run at the record high above 26K.
- Blocking 26K is 25715 and the elusive 25842 resistance.
- Resistance left over from last year is at 25585
NAS100 DAILY CHART
Canada PMI miss
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US500 (SP500) UPDATE
- With year end position adjustments over, US500 would have to build fresh momentum for a run at the record 6943 high.
- Support is clear at 6842 (also filled a gap) although only sub-6800 would have bulls rethinking hope for a fresh run at the high.
- A key resistance left over from last year is at 6904
US500 DAILY CHART
FTSE 100 Tops 10000 for First TimeÂ
The U.K.’s FTSE 100 topped 10000 for the first time on Friday, building on a 2025 rally in which the index posted its best performance in 16 years.
Mining and defense stocks helped the index briefly hit five figures, extending a theme that fueled the gauge last year. Shares of Fresnillo, Endeavour Mining and Rolls-Royce more than doubled in 2025. The FTSE 100 rose almost 22% for the year, outpacing the Nasdaq composite, the top performer among the biggest U.S. indexes.
The FTSE 100 rally is notable given it lacks the flashy artificial-intelligence stocks that have driven big gains in the U.S. and Asia.
Instead, it is filled with old-economy stocks: banks, miners, defense and healthcare companies, all of which also performed well last year. Analysts note FTSE 100 stocks also benefited from being relatively cheap.
Iran vs US: War of Words
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Bitcoin Price Analysis: BTC Targets $90K Again – Breakout Incoming or Another Rejection?
Bitcoin continues to grind sideways below the $90K level, showing signs of compression after weeks of chop. While there has been no significant bullish breakout yet, the price is pressing against key local resistances. Buyers are trying to reclaim control, but the lack of follow-through makes this a pivotal area to watch.Bitcoin Price Analysis: The Daily Chart
On the daily chart, BTC remains trapped within a descending channel, testing the upper boundary once again near the critical $90K level. The 100-day and 200-day moving averages located above $95K act as major dynamic resistance levels, and buyers have yet to reclaim them.
Despite recent bounce attempts, momentum has been fading. RSI is climbing but is still around the neutral territory, indicating that there is room for a move higher. If buyers fail to break above the $90K zone and the higher boundary of the channel, another visit to the $80K support zone remains likely. Until that breakout happens, this is still a bearish market structure.
Newsquawk US Pre-Market Movers
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USDX (US DOLLAR INDEX)
- It may not feel like a trend but USDX has 6 green daily up candles in a row.
- However, this is still just a retracement unless/until 98.79 is taken out.
- EURO is 57.6% of the dollar index and as such, it is often used as a proxy for the EURUSD.
- In this regard, key EURUSD support is 1.1702, which would need to be taken out for USDX to make a run at 98.79.
USDX DAILY CHART
Newsquawk Daily US Opening News
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XAUUSD (GOLD) UPDATE
- Starting the year on a positive note. boosted by President Trump’s threat to take action to rescue peaceful protestors if Iran opens fire on them.
- Needs to break 4404 and stay above it to build fresh momentum to the upside.
- The only resistance above it is the record 4549 high so 4404 would need to become support to put it back on the radar.
XAUUSDÂ 4 HOUR CHART
Forex Market Snapshot
Welcome ti 2026
- The dollar is opening the year trading mixed, up vs the EUR. JPY, CHFand GBP while down vs the AUD. and NZD
- Gold is up to start the year after an end of year retracement.
- US stock indices have recouped the late drop seen in last four hours of 2025
- FTSE trades at 10000 for the first time ever.
- US S&P Global Manufacturing PMI due today
- It is hard to draw conclusions from the first trading day of the year, especially as it cones on a Friday with many still on holiday.
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