08th January 2026

MACRO

Trump Calls for $1.5 Trillion Military Budget

President Trump called for a $1.5 trillion military budget in 2027, up from $901 billion in 2026 - a 67% increase in a single year.

Trump is also blocking defence companies from paying dividends and doing buybacks until they speed up arms production. Lockheed, Raytheon, Northrop and General Dynamics are all affected.

Lockheed said 2025 F-35 deliveries hit 191 as demand lifts production pace.

(Reuters)

Trump Housing and Domestic Policy

Trump announced he will ban Wall Street investors from buying single-family homes, taking aim at Blackstone and other institutional landlords blamed for driving up housing costs.

Trump withdrew the US from dozens of international and UN entities.

The Trump administration froze $160 million in funding from California over foreign truck-driver licenses.

A court ruled the Trump administration cannot proceed with a pilot drug rebate program.

The US Justice Department sued two California cities over natural gas bans.

Bessent, Lutnick and Wright will join Trump at Davos.

(Reuters)

Venezuela Oil Developments

The US seized a Russian-flagged tanker tied to Venezuela as Trump widens his oil push.

Chevron is in talks with the US government for an expanded license to operate in Venezuela.

US oil companies say they need guarantees to invest in Venezuela, according to the FT.

The US says it needs to control Venezuelan oil sales indefinitely to drive change.

The VP said Venezuela can only sell oil if it serves US interests.

Venezuela’s PDVSA says oil supply negotiations with the US are progressing.

Chinese refiners are expected to replace Venezuelan oil with Iranian crude.

Oil prices fell after Trump’s statements on Venezuelan oil.

Investors are bullish on Latin America after the US move on Maduro.

Trump invited Colombia’s Petro to the White House after earlier threatening military action.

(Reuters, Financial Times)

Samsung Profits to Triple

Samsung Electronics forecasts Q4 operating profit will triple to a record high, beating expectations as it rides the AI boom.

The AI-driven chip shortage is finally paying off for the memory giant.

(Reuters)

Bank of Japan Maintains Rosy View

The BOJ maintains its rosy economic view and sees wage hikes continuing.

However, Japan’s November real wages fell at the fastest pace since January, complicating the outlook.

(Reuters)

Australia: Inflation Still Too High

An Australian central banker said the inflation rate is still too high, adding to uncertainty about the RBA’s next move.

(Reuters)

Copper Demand Surge Coming

AI will boost copper demand by 50% by 2040, but more mines are needed to ensure supply, according to S&P.

(Reuters)

US Economic Data

The BEA said it will use US September and November CPI averages to calculate October PCE inflation after data issues.

The dollar is holding steady as investors await Friday’s jobs report.

(Reuters)

European Developments

French farmers blocked Paris streets in protest against the Mercosur trade deal.

The EU is cutting fertiliser duties to push through the agreement.

(Reuters)

Uniqlo Owner Raises Forecast

Fast Retailing, owner of Uniqlo, hiked its annual forecast after a surge in quarterly profit.

(Reuters)

GEOPOLITICAL

Russia-Ukraine

Russian strikes knocked out power in southeastern Ukraine, the energy ministry said.

Trump will allow a Russia sanctions bill to advance in Congress.

Zelenskyy is seeking a new Trump meeting as peace negotiators tackle the land issue.

(Reuters)

Greenland

Britain’s PM discussed Greenland with Trump over a call.

US senators foresee a vote on reining Trump in over Greenland.

(Reuters)

Pakistan-Saudi Defence Talks

Pakistan and Saudi Arabia are in talks on a JF-17 jets-for-loans deal.

(Reuters)

EQUITIES

JPMorgan to Replace Goldman as Apple Card Issuer

JPMorgan will take over from Goldman Sachs as the issuer of the Apple Card. Goldman’s retreat from consumer banking continues.

(Reuters)

Jefferies Profit Beats

Jefferies profit beat estimates on a dealmaking surge, though it took a $30 million loss linked to First Brands.

Morgan Stanley promoted 184 employees to managing director roles.

(Reuters)

Exxon Warns on Q4 Profit

Exxon signalled that lower oil prices could hit its fourth-quarter upstream profit.

(Reuters)

Ford Eyes-Off Driving in 2028

Ford will offer its first eyes-off driver-assistance system in 2028, letting drivers take their eyes completely off the road.

(Reuters)

Constellation Brands Beats

Constellation Brands beat Q3 estimates on steady demand for Modelo and Corona beer.

(Reuters)

BlueScope Shares Drop After Rejecting Bid

BlueScope Steel shares dropped 2% after rejecting the $9 billion takeover bid from Steel Dynamics.

(Reuters)

Trump-Linked Crypto Bank

Trump-linked World Liberty Financial is seeking a license to launch a trust bank.

(Reuters)

Olaplex Draws Takeover Interest

Olaplex is drawing takeover interest from Germany’s Henkel, according to Bloomberg.

(Reuters)

Other Notable Moves

US House advanced a Democratic effort to reinstate healthcare subsidies.

A US ETF provider filed for the first Venezuela-focused fund after the turmoil.

US congressional panel will subpoena billionaire Leslie Wexner over Epstein ties.

Democrat congressman Steny Hoyer will retire after more than 40 years, according to the Washington Post.

First Brands launched a sale process amid plans to exit Chapter 11.

Comcast’s TV spin hands Paramount more ammunition in its Warner Bros campaign.

(Reuters)

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