US stocks had a mixed week. Weekly market recap, trading week 03/2026

Summary of the trading week using the most popular posts from the X platform

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Global Markets Investor
January 18, 2026

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🔥GLOBAL MARKETS INVESTOR’S PORTFOLIO IS UP +72% SINCE JANUARY 2024

DURING THE MARCH-APRIL 2025 MARKET TURMOIL, MAJOR US INDEXES FELL NEARLY 20%, WHILE THE GMI PORTFOLIO GAINED OVER 5%, FIND OUT HOW BELOW:

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In this series, you can find financial markets posts with the highest number of interactions from my X platform feed over the most recent week. I am aware that not everybody uses X regularly, so I thought it could provide some value to your analysis, and investment process. These posts are surrounded by extra charts, commentary and explanations of complicated topics.

US stocks ended the week mixed as small caps surged on their longest winning streak since 2008 while tech lagged.

Silver posted its best start to a year in 3 decades while gold rallied for the 5th week in 6.

Lastly, short-term volatility remained subdued despite elevated single-stock vol and upside protection bids.

Meanwhile, on Saturday, US President Donald Trump announced 10% tariffs on several European nations starting February 1, escalating to 25% from June 1.

The tariffs target Denmark, Norway, Sweden, France, Germany, the UK, the Netherlands, and Finland.

Trump says the tariffs will remain until he secures "the Complete and Total purchase of Greenland.

In response, European Union lawmakers are preparing to halt approval of the EU–US trade deal.

Additionally, France’s President Macron is urging the EU to activate its “most potent trade weapon,” the anti-coercion instrument.

If deployed against the US, it would restrict US access to the EU market, potentially block US banks from EU procurement, and target major US tech firms. This tool has never been used before.

Lastly, the EU is also preparing up to €93 billion in tariffs and other restrictions on US companies.

Time to make market volatility great again.

In case you missed it, other posts from this week are listed below.

⚠️BofA’s Bull & Bear Indicator is screaming a sell signal

Is this the time to trim stock exposure?

globalmarketsinvestor.beehiiv.com/p/bofa-s-bull-bear-indicator-is-screaming-a-sell-signal

⚠️The US labor market slowdown is intensifying

Ignore the headlines, the underlying data tells a very different story

globalmarketsinvestor.beehiiv.com/p/the-us-labor-market-slowdown-is-intensifying

Concerns about more debt in Japan are rising

The Yen is weakening while government bonds are selling off

globalmarketsinvestor.beehiiv.com/p/concerns-about-more-debt-in-japan-are-rising

The US government is running one of the largest budget deficits history

Nothing is going to stop this debt crisis.

globalmarketsinvestor.beehiiv.com/p/the-us-government-is-running-one-of-the-largest-budget-deficits-history

US M2 money supply is skyrocketing

The value of the US Dollar is eroding at a record pace

globalmarketsinvestor.beehiiv.com/p/us-m2-money-supply-is-skyrocketing

⚠️CHART OF THE WEEK: Consumer confidence is collapsing for Americans outside the stock market

This is not a healthy economy

globalmarketsinvestor.beehiiv.com/p/chart-of-the-week-consumer-confidence-is-collapsing-for-americans-outside-the-stock-market

1) Weekly performance. In the first post attached, you can see last week’s performance of the major US indexes, the VIX volatility index, 10-year Treasury yield, the US Dollar, gold, silver, WTI Crude oil and Bitcoin.

- S&P 500 -0.4%
- Nasdaq -0.7%
- Dow Jones -0.3%
- Russell 2000 (small caps) +2.0%
- US 10-year Treasury yield +6 bps
- VIX +9%, front month VIX futures +1%
- US Dollar index +0.3%
- Gold +2.1%
- Silver +11.6%
- WTI Crude Oil +0.5%

Gold and silver are making history

What's next for the most in-demand precious metals?

globalmarketsinvestor.beehiiv.com/p/gold-and-silver-are-making-history

⚠️CHART OF THE WEEK: Will the gold outperformance of the S&P 500 continue for years?

Food for thought regarding gold and the S&P 500 relative performance

globalmarketsinvestor.beehiiv.com/p/chart-of-the-week-will-the-gold-outperformance-of-the-s-p-500-continue-for-years

- Bitcoin +5.4%

Is Bitcoin going to $1,000,000?

What to expect from the world's largest cryptocurrency in the coming months and years

globalmarketsinvestor.beehiiv.com/p/is-bitcoin-going-to-1000000

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For the trading week ending January 23, key events are:

- US Markets Closed, Martin Luther King Jr. Day on Monday

- US Pending Home Sales for December on Wednesday

- US Q3 GDP final reading on Thursday

- US Consumer Sentiment for January on Friday

- ~7% of S&P 500 companies report earnings

Investors will be watching closely for headlines on the escalating tensions between the US and the EU.

2) Retail investor sentiment is historically high. Individual investors have also never been speculating this much in the market.

3) Individual investors are also piling into silver-linked ETFs at a record pace. Is this the top signal for silver?

4) China has overtaken the world auto market. The country’s overall trade surplus has hit an all-time high.

5) Some additional posts that include interesting data.

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